Kefi Gold And Copper Share Discussion Threads

[cybaajak] 19/4/2020 10:43

It is Evident that the EG would LIKE the mine to be built. The financial return alone would be beneficial. The Infrastructure bonus their 20% stake brings massively benefits the local community so is of political and economic enhancement as well. They can't lose.

ANS, however, may have signed contracts, shook hands, smiled for photographs, twisted the Chairs perception of a 'good thing' to include Ethiopian BANKS and Investment Companies, but THAT is as far as ANS go. Look, how many times have you read 'First Tranche' AND 'unconditional' in the same sentence or paragraph. Add in 100% money back guarantee and they STILL HAVE NOT paid up. So, no, I don't believe ANS are actually concerned. Business is business. If Kefi fail they can buddy up to the next company that waltzes past. Whatever happens their money stays put and they are safe.

I would like the lights stay on. Glow brighter would be healthy. That is not looking likely with Adams at the helm, regardless of the next line in the sand he draws, or the future he paints, or what ever euphemism you would like inserting here, showing a mediocre fraction of whatever counts for optimism.

How many years are you willing to support him without a mine ever getting built, even when he states it will, eventually, maybe, possibly, IF someone else does something else that moves this forward.. ?

EDIT: Spelling !

[robjm66] 19/4/2020 10:35

hxxps://goldswitzerland.com/the-greatest-financial-crisis-hyperinflation/

[scrappycat] 19/4/2020 09:07

cyba,

I an not denying what you say, BUT THAT IS HISTORY, and fails to recognise the difficulties that both the administration of the company, and the country have experienced.

I asked you to clarify what you would do to improve the current situation. It is easy to criticise, but less easy to provide a solution. Yes, you want to get rid of Harry, but there is absolutely nothing to indicate this would improve the situation. I certainly doubt it would please the EG/ANS, and the co-operation of the EG is certainly required.

I prefer to keep the lights on, for it is evident that the EG and the ANS want the mine to open and to partake of the benefits this would provide to the country and its economy. Your choice would, IMHO, generate the risk of turning the lights out. Is this what you want?

[cybaajak] 19/4/2020 07:52

In the 'REAL WORLD' its NOT a 1 year delay though is it.

August 2018, Adams RNS'd he had found the 'final piece of the jigsaw'. The funding required to 'get this project moving'. The funding to COMPLETELY FINANCE A MINE TO BE BUILT. HIS, and our savior, was ANS. And 20 months later we still await the 'first tranche'. Not 'Due Diligence, not Checks and Balances, but the promised 'First Tranche' of 3. Unconditional, 100% money back guarantee from Kefi no less (Read as "US", as we'll be the ones left holding the empty wallets)

That is not 2019. That is 2018. Before you stick a vote on red down thumb go and review RNS 4625U dated 12 July 2018.

From 2006, the Kefi inauguration date to 2014, Adams, and Kefi achieved NOTHING, other than express themselves as a Mining Exploration Company. 8 years of sucking at the AIM thumb, of lifestyle wages and share certificates. In the RNS above Adams lays it all out that THEN, July 12th 2018, was the start of good things for Kefi. Regardless of the 4.4p share price spike, 480m millions shares in issue and a market cap of £14m. The striking thing is THAT RNS was a Company report on the PREVIOUS YEARS achievements. The ANNUAL GM for 2017. And back in 2017 he HAD to consolidate the shares in issue FROM 3 odd BILLION to 240 million and immediately gave to Lanstead 85 Million MORE to kick off the death funding Spiral we have been subject to as investors for OVER 3 YEARS. No, it wasn't ALL Lanstead, but if the share price had not been punctured like a balloon BY THEM, we wouldn't be where we are now.

Prior to 2006 Adams chaired Atalaya and was removed by a NO CONFIDENCE VOTE after dragging it to the door of insolvency and/or bankruptcy, through death spiral financing flood waters and profligate share certificate dilution. Does that sound familiar at all ? I sincerely believe he doesn't have the ability to take ANY company from 1 categorization as Exploration to another, Producer.

Building a mine takes time. I'm not disputing that. IF it had started construction back then we would have been past the 'first pour event' by now. BUT we haven;t even broken ground. The farmers STILL haven;t moved. (GO BACK FURTHER to APRIL 2018 and read the RNS's dated from then about the Farmer Relocation, plans, requirements etc.. NOTHING HAS CHANGED IN 2 YEARS and more. Apart from the Chair and BoD renumeration packages rising, opposite to the ski-slope ridden share price).

ITS 2 YEARS OF NON ADVANCEMENT and WILL BE 3 YEARS PLUS IF nothing is done about the man in charge. SO what IF he does get removed ? Someone with more gumption taking over will be in the same position initially, having to rely on the same arrangements until he, OR SHE, kicks some life into moving this train crash on.

Why stick with the 'Status Quo' when whoever leads this, whatever this is, COULD NOT POSSIBLY do as badly, as the incumbent waste of space we currently have ?

Stick up for him as much as you want, you believe he is the person that will return to you large amounts of money in excess of what you have thrown at him and continue to throw at him. While sticking up for him, try and look at the past few years or more, see whats changed, what hasn't, what success he can stand by, what marks him out to be the right tool in the right toolbox. I've looked back. Read back. Thought back. All I can sum up is same here there has always been. No market confidence in his ability to carry this off. Empty promises and missed deadlines. Always tomorrow (read: next year, or never). Meanwhile he continues to make bank, at our expense.

[1deedee] 18/4/2020 20:24

Transferred my Holdings at a massive loss though

[1deedee] 18/4/2020 20:22

Hope everyone is well and self isolation sold my shares in this Company 2 weeks bought into another share I just can't see any progress forthcoming in the next few months with Ethiopia on lockdown and more dilution I expect keep the lights on etc this bloody virus isn't doing any good I'm hoping to make money on this other share and then come back in if it all works out well but to be honest I wish you all the best and good luck

[robjm66] 18/4/2020 13:36

hxxps://www.goldmoney.com/research/goldmoney-insights/the-looming-derivative-crisis

[scrappycat] 18/4/2020 12:20

cyba,

You have every right to make the comments you do, but what do you suggest the company does about it? Getting rid of Harry would not solve the problem, for the answer lies with the EG and the ANS, not the company. For my money, your suggested course of action can only serve to slow up any prospective development, and cause even more uncertainty. In the current climate, trying to get funding elsewhere is surely a minefield, and they would still need some money to keep the lights on.

You can moan to your heart's content, but for my money, the status quo offers the best chance of mine development in the near future. Frankly, I suspect that Harry and the rest of the board are as frustrated as we are. Personally, I think the Ethiopians still want to keep the lights on, and the funding will arrive.

[goatherd] 18/4/2020 12:09

But, in the real world, is not a one year delay (which I doubt is happening) preferable to collapse?

[bejubiant] 18/4/2020 05:25

I sense that a deal gets done reasonably soon now (it must) in the grey place that exists between the one dimensional, black and white worlds we inhabit here in chatroom land..
ANS (for all their shortcomings in the commercial gravitas department, and general lack of courage) are engaged on TKGM and have signed subscription agreements.
We have yet another spanner in the short term works due to COVID-19-BASTAD, however we are not asking any more of ANS first up than to pay for what they have ordered.
As with any simple transaction in business, you show clear intent, agree a price, receive an ‘invitation to treat’ and then place a firm order.. you then need to man the fack up and pay.
I suspect that ANS will be given the option to pay EVEN less up front (lightweight terms) and we will go forward with known, built-in delays to early Q4,
with the knowledge that ANS are along for the shared ride ahead,
Post full project financing close I only hope that they find some vim before we go too further forward, as nobody needs or wants a weak partner on a strong/long campaign.
IMHO... ANS pays less in the short term to save face and carry on (as they surely have their smallish nuts in the government’s firm grasp as I type).. we shortly gain some short term pain relief, project certainty and then all have eyes on the year end.. when the excitement button should get properly pressed.

[the charmer] 17/4/2020 20:55

O ye of little faith.

[jon9911] 17/4/2020 20:11

I think there were 149 million warrants at 2p each which would have raised £2.98 million if exercised by 30th april which looks very unlikely now.

[estseon] 17/4/2020 17:02

£1.8m was raised in December by that mega-dilution. Some might have been necessary for Hawiah but the rest should have been available to cover TK site costs and company overhead.

The shares were issued with attaching warrants exercisable at 2p on or before 30 April. That suggests that the Company was expected to have sufficient to carry it to past the final exercise date. So, my reading of the runes suggests to me that we are safe for this month.

Best wishes to all

[marnewton] 17/4/2020 16:53

hxxps://www.shareprophets.com/views/48504/video-jordan-roy-byrne-gold-to-hit-20000-silver-to-reach-1000

Would that we had a mine!

M

[taxlosstone] 17/4/2020 16:23

They're either managing to eke out the money better than in the past or they can't afford to pay for an RNS telling us that we're skint.

I really hope that we don't get a Friday after hours RNS. They're never good news. :-(

[keelhauled] 17/4/2020 13:43

Cyber Jack - what a tiresome comment. K

[cybaajak] 17/4/2020 11:38

Going by historic negotiation abilities displayed by the current chair...

The ONE thing you don't want is Adams negotiating anything.

[keelhauled] 17/4/2020 10:49

With the current GLD price levels, Kefi could swiftly clear all project debt. Perhaps Harry is now negotiating with alternative funders jostling for position. K

[estseon] 17/4/2020 08:24

Buys before sells

[shortarm] 17/4/2020 08:09

Why the big jump this morning?

[neilng] 16/4/2020 18:05

'Gonna need'Reminds me a a farmer I knew who would lean over the field gate and tell passersby 'am gonna plant some spuds next year'Do you live in Yorkshire by any chance?

[fsawatcher] 16/4/2020 17:07

Corona done ANS in so they got no money nows

gonna need new partner i reckon

[scrappycat] 16/4/2020 15:55

jaylett,

I did say they should rock the boat, and I stand by this remark. As far as I am concerned, you response to my post is unwarranted. I do believe ANS will fork out eventually, but, as I said, who knows when. Rocking the boat does not preclude this.

P.S. Afaiac goatherd's comment is accurate. Kefi did not say 'would, and it was never stated, or implied to be, a deadline. Kefi's expectations are surely based on the information provided to them by the EG and ANS. It is they who are failing to ensure those expectations are not met, not Kefi IMO.