Kefi Gold And Copper Share Discussion Threads

[scrappycat] 24/3/2020 16:55

jaylett,

Quite a collection of zeros you have there. Just out of curiosity, from where did you derive such information? Personally, I have never been anywhere in Ethiopia, and there are few, if any, applicable photographs. You seemed very adamant, and this intrigued me. For all I know, you may be right, but please clarify your source.

[shortarm] 24/3/2020 16:52

So many zero's there!I believe you may be confusing some infrastructure for yourself :-)

[jaylett] 24/3/2020 16:36

So what? All that shows is what a black hole this entire project and indeed country is.

Total amount of actual Ethiopian hard currency put into the project as of now: zero.

Farmers moved: zero

Roads built: zero

Power lines built: zero

Other infrastructure built: zero

Someone please show me one thing that demonstrates that they actually want to build a gold mine? Because I am massively struggling here and I fear for the prospects of my remaining investment. We're being led a merry dance and TK has been a total disaster since the day HAA got us involved in it.

[spartikas] 24/3/2020 13:38

Market cap now 8.94M....Nyota spent 40-60M alone on drilling out Tulu Kapi.

[sweetwaters] 24/3/2020 13:37

The previous thread was "Kefi Minerals-2010 and into the Kingdom of Saudi Arabia", literally he's been pushing powerpoints, journalist interviews and attendance at international investor conferences for 10 YEARS. This was when global finance and markets were generally buoyant. Who thinks this is value for money?

Regardless of whether you think the Kefi Plc costs have been justified to-date (and I include the Board and Exec team), who thinks they are warranted at this level moving forwards? Don't you think it prudent to massively reduce Kefi Plc costs and reduce dilution?

There's been Oryx and Bondholders and Ethiopian Banks and... enough already, just mothball TK = reduce future costs = reduced dilution. Also stimulate the counter-parties to either take up the mantle or not. OR give ANS X% in TKGM for the 'honour' of taking the lead, project management position, whatever just eliminate Kefi plc costs. I suspect it's what someone in the foodchain wants, so give some % but completely take the pressure of Kefi for costs & sit back.

Go back the Saudi horse with a more robust finance AND majority partner in country that has a government that that has experience with mining and provides high levels of finance to support. (and sell interest in Jibal to Artar if possible to raise funds or as a means to reduce Kefi share of research costs of Hawaih. There's plenty more licenses to progress in due course)

[cybaajak] 24/3/2020 13:16

Thank you. Only...

Quote "CEO median total remuneration for AIM listed companies is £324,000 which is 30% higher than the equivalent figure for 2014. For FDs/CFOs, the median salary for the latest year is £208,000.
This figure marks an 18% increase from five years ago when the median salary was £175,500." Unquote

2014 and 5 years ago would indicate figures from 2019 ..

IF CEO's from 2019 are getting 324k (as an average) and Adams actually got 371k in 2018.. even without a payrise he's in the upper side for NON income generating Company.

Reading this paragraph from the Report it would indicate that the figures mentioned are from 2019. And Kefi hasn;t reported its financials from 2019 yet.. SO, extrapolating THESE figures Adams is even MORE overpaid than you try and explain.

[cybaajak] 24/3/2020 12:26

Just want to point out the fallacy in your remarks..

"whereas if he buys in placings the money goes direct to the company.

For the record
in 2018 he invested £174k in the company
in 2019 he invested £20k in the company
in 2020 he invested £148k in the company, so far.

If he spent that money in the market I do not think it would affect the price significantly, if at all."

He didn;t though did he. He CLAIMED shares as half wages THEN PRINTED the required amount of share certificates and DILUTED EVERYONE ELSE'S HOLDINGS BY THAT MANY. WELL FOR 2018 and 2020 he did. He held GM's and asked permission from all us gullible punters. The 20k in 2019 may have been a way of mollifying the plummeting share price from investor criticism.

[cybaajak] 24/3/2020 12:12

..a new historic low.

If he seeks finance now, without any buttress of KSA info or ANS funding, he'll have to do another consolidation.. I mean what business in its right mind will front up a wadge of cash for almost worthless paper ?

No/Yes ?

[goatherd] 24/3/2020 12:09

There seems to be a belief that Harry is overpaid. Perhaps so, perhaps not. But lets look at the facts (a novel approach on this BB!).

His total earnings for 2018 (last available year) was £371k.
The average for all AIM CEOs was £324k.


As for the suggestion that he should buy shares in the market, this would not benefit the company at all; whereas if he buys in placings the money goes direct to the company.

For the record
in 2018 he invested £174k in the company
in 2019 he invested £20k in the company
in 2020 he invested £148k in the company, so far.

If he spent that money in the market I do not think it would affect the price significantly, if at all.

[sweetwaters] 24/3/2020 09:22

Rob, Kefi should walk away from TK and mean it, walk away and be 'delighted' to resume when all parties are ready. Without walking away, genuinely, Kefi will continue to be led up the garden path and us shareholders will continue to be led up that same path by Harry. If the parties involved wanted TKGM to proceed, it would have done so already - simples.

In the mean time cut costs.

I've an open mind to Saudi and Hawaih as Artar appear to be more than accommodating in covering Kefi's exploration cash contributions for a period. Looks like they mean business. Although instead of reducing % in all G&M maybe it would be better to reduce % in just Hawaih in the interests of the bigger picture. (NO DILUTION)

...and on the company front standby by for another great research update on Hawaih, such a shame that the team are doing that work in a situation where all good news is being used for ulterior motives. Great research news will be followed by a dilution notice of some sort...unless in that same notification they confirm 100% how Kefi Plc costs are covered, with no weasel words.

[topicel] 24/3/2020 09:19

Liquidation of gold seems to be slowing, for now perhaps, but as ever the only way EG and ANS can benefit is spend their own small amount of inconsequential Bhirr and get TK underway.

Heaven knows what is stopping them as the likely move on gold by 2022 is beyond comprehension in historical terms if the runes are right...and with the world shutting down, that seems to be the case.

How much Lyco and the rest can get done anyway is a mute point but the idea must be to get the show on the road. To wait is folly as there is risk everywhere regardless now...

Harry should tell them!

Topicel

[jaylett] 24/3/2020 09:09

Yes, payment by end of March was stated a while back, after they missed the end of the year, then then end of January, and then the mid February big meeting. The next deadline stated was "in March". It's worth about as much as the previously mentioned dates though, i.e. not very much at all.

In the current climate, with the world in chaos, anyone thinking that the wheels are going to suddenly turn in Ethiopia and £9m will emerge from someone's wallet has to be smoking crack. HAA and senior team should 100% be scaling back on salaries in the meantime; being diluted yet again to directly stick money in their pockets when pretty much nothing is happening would be an absolute disgrace.

[paleje] 24/3/2020 07:37

Lot of good companies announcing salary reductions in light of current conditions, Harry is already well overpaid compared to many of them. Example below from RNS this morning.

...Consequently, Tlou will be implementing significant cost reductions across the Company. This includes senior management: Anthony Gilby (Managing Director) will reduce to 50% of his currently contracted rate backdated to 1 January 2020 and then 25% from 1 April 2020. Colm Cloonan (Finance Director), Gabaake Gabaake (Executive Director) and Solomon Rowland (General Manager) will reduce to 50% of their currently contracted rates backdated to 1 January 2020. Contracted rates are as per the Company's 2019 annual report released on 27 August 2019. The unpaid amounts will not be accrued nor payable by the Company at a later date....

Take note Harry. It would go down well.

[topicel] 23/3/2020 21:52

Either way, I said both the above posts a fortnight ago, including Harry cutting his salary by half, seeing as he won't do the decent thing and invest it in shares to so ongoing belief in TK as we all do without his wage packet as compensation for inaction.

Even Tim Witherspoon has taken a 50% hit, among others I mentioned from US airlines to even Gary Neville and his free hotel rooms for NHS staff.

HAA likes to make out he communicates plenty but he never manages it when it matters most. Hibernation is what we've been doing for years anyhow it seems!

Btw, who said end of March was a deadline? It is after the elections, which may, or may not be, September...but I don't keep up much anymore.

Topicel

[robjm66] 23/3/2020 13:15

No do not lay anyone of now maybe they can join the queue for a government loan and employers paid by someone else.

[divmad] 23/3/2020 09:47

Surely these things don't ever happen.

[cybaajak] 23/3/2020 08:56

Remember 2018..

RNS for finance and Share Price climbs from 2p to 4.4p

THEN. The VERY SAME WEEK.

Dilution to the tune of 120 million shares AT the PRE-RISE price of 2.5p
AND a further 100 million shares split 50/50 with contractors and Directors of Kefi

15/06/2018 7:00am
UK Regulatory (RNS & others)

RNS Number : 4824R

KEFI Minerals plc

15 June 2018

15 June 2018 <---- Interesting read at the information there.

21 MONTHS AND WE ARE STILL WAITING...