Kefi Gold And Copper Share Discussion Threads

[scrappycat] 06/4/2020 13:38

cyba,

At the moment, it is my understanding that the EG and ANS own nothing. Currently, Kefi controls, and has ownership of, the lot (including TKMG). AFAIAA, no money has been paid to Kefi by the EG or ANS. The figures you give are relevant to the position post funding. In effect, the EG and ANS will have ownership of the portions you quote once they have paid the agreed price. They haven't got something for nothing.

If I am wrong, someone will no doubt correct me.

[bejubiant] 06/4/2020 12:30

ANS FAFFING about pre-dates COVID-19 by months and months.. that new chestnut just doesn’t wash frankly.
This should have been sorted WAY before now.

[cybaajak] 06/4/2020 12:25

How much 'value' the JORC reserve figures have but that is x 45% which is what KME (Kefi-Minerals Ethiopia) own. Kefi owns 58% of KME, further diluting the value of those "reserve figures"..

I mean if you ARE going to talk value.. in 2017 Kefo owned TK 95%, Then the so called "Master Negotiator Adams" sliced and diced the pie in so many ways its difficult to comprehend exactly how much he gave to ANS which they haven't paid for yet.

[scrappycat] 06/4/2020 12:19

Taxi,

I am not disagreeing with you, but we are where we are. I am talking about the current situation. The virus has provided an unforeseen problem for all parties.

[taxlosstone] 06/4/2020 12:13

I believe that you & I have a simple difference of opinion. My belief is that the lack of payment from ANS is not just red tape but something more sinister. As we mostly all agree, none of us know many facts, but in my book actions speak louder than words. I believe that we are being played & that whatever is happening will not be to our advantage. Call me old fashioned but when it takes an entity over 20 months & counting to pay up, something is amiss.

[scrappycat] 06/4/2020 12:03

Taxi,

The JORC reserve figures have a value. That value would be recognised by other parties - just as they would be respected by the market when funding is forthcoming. .

[scrappycat] 06/4/2020 11:59

Rob,

I hope you are right, and I respect your optimism. However, none have any idea how long this outbreak will last, and its ultimate effects. The trouble is, is that there is no prospect of a quick return on an investment even when the outbreak is considered over, for nothing can really be done toward development until all the Lockdown restrictions are removed. Any cash investment will be tied up for an unknown period, and this uncertainty may well prove a stumbling block at this time.

I am not being negative, but I believe this is a complication we may find difficulty in overcoming. I hope I am wrong, but as I indicated previously, I do not think the Ethiopians will let Kefi fail.

[scrappycat] 06/4/2020 11:21

rob,

This is the part that concerns me:

'ANS is a special purpose investment company founded by the five directors for an investment by 15 institutions and corporates.'

How many of those have been affected by the Coronavirus outbreak? For an unknown number, their spare cash provisions may well be under a significant threat. For those companies that are suffering, finding replacements may not be easy.

[bejubiant] 06/4/2020 11:20

That’s all very enlightening..
Ultimately, the share price never lies, and is rarely at odds with how effective the board have been and continue to be.

[tyler durden1] 06/4/2020 11:17

with delay on delay, there is nothing for the BoD to do. So why should they draw wages for doing nothing? If its all agreed but just delayed why get paid twice or three times for giving drivel answers that are not really new.

[matthew stone] 06/4/2020 11:07

"Kefi's assets would then become the subject of an open market bidding operation, and they would surely have to pay significantly more to exercise even the level of control over those assets that they currently have potentially."

..so you agree with me, then, that ANS are getting a really good deal - why then are they not moving heaven and earth to get this thing started?

[matthew stone] 06/4/2020 11:01

Just to avoid misunderstanding, I am not agitating for either (a) HAA to stand down, or (b) the co to fail. Even at this lowly price, I have a large (for me) investment in this co, so OF COURSE I want the lights to stay on.

My issue, as ever, is around communication - as I said earlier, we know several people on here have submitted perfectly reasonable questions regarding funding and ANS, and these have been roundly ignored afaic, in favour of yet more waffle and justification masquerading as q&as.

[scrappycat] 06/4/2020 10:59

The power that ANS and the EG have over Kefi, is, I suggest, somewhat illusionary. There wilI be a contractual agreement between Kefi and the Ethiopians, covering the provision of funding, preventing, or constraining Kefi's ability to seek funding elsewhere. This would become null and void should Kefi go to the wall. Kefi's assets would then become the subject of an open market bidding operation, and they would surely have to pay significantly more to exercise even the level of control over those assets that they currently have potentially.

It is certainly not in the Ethiopian's interests to allow Kefi to fail IMHO - or am I missing something.

[robjm66] 06/4/2020 10:50

Your not suggesting Goatherd that harry could spend more time with his two houses and farm are you ;-)

Joking apart taking a pay cut would be a practical and moral thing to do.

[robjm66] 06/4/2020 10:46

The board will not be able to fly around promoting the company probably constrained in what they can do job wise anyway.

Think the board should share some of the current pain of shareholders for the eventual gain we all hope for and the for the good of the company.

[goatherd] 06/4/2020 10:44

Personally I think keeping the lights on is thoroughly to be desired.

I do think that the constant attack of director's fees is not likely to make the director's particularly concerned about shareholders' interests!

[matthew stone] 06/4/2020 10:32

It would be different, of course, if the issuing of new shares was being done for a reason other than keeping the lights on (in large part this = paying wages, including the BOD's)

[matthew stone] 06/4/2020 10:29

You are correct, in a sense, but unfortunately, as with most AIM shares, we need to raise working capital through regular placings, so expanding the no of shares in issue. Therefore, the POTENTIAL MAXIMUM VALUE of each share is to a large extent dictated by the PRICE at the time these dilutions occur. I'm not being obtuse here - it is fundamental to why we are where we are, and why ANS hold so much power over us.

[robjm66] 06/4/2020 10:23

Either the board is being paid in cash or kefi shares if its cash kefi simply need to reduce outgoings if shares why should they be rewarded with extra shares due to the low share price.

[goatherd] 06/4/2020 10:15

No Matthew,

The PRICE of the holdings becomes less and less. The VALUE remains constant.

[matthew stone] 06/4/2020 10:09

True, but once the share price declines to these kind of levels but their salaries don't reduce accordingly, the value of the holdings becomes less and less significant compared to the money they are taking out of the company in wages.