Kefi Gold And Copper Share Discussion Threads

[robjm66] 25/4/2020 10:30

Cybaajak "The Oromo People consider the winter rainy season of June to September as the time of difficulty. The heavy rain brings with it lots of things like swelling rivers and floods that may drown people, cattle, crop, and flood homes. Probably whnen moving heavy equipment and people probably easier to do it after rainy season though some work can be done before and during.

With ANS think they have the money for TK at least just want reward without any risk (don't we all). If I am being cynical possible they could have used the covid situation and Kefi waiting for money to get more support for their banking, insurance and investment organisations "with the government has re-affirmed its commitment to the Project following the Government’s injection of significant liquidity into the local financial markets during the past two weeks".

"Its not enough being a 'First Mover', the companies waiting at the door are lining up and watching (impatiently, presumably), to see the feasibility of doing business here."

Think we all agree with that great opportunity to create a proper mining sector there but mess this up and miners will go elsewhere for the mining opportunities to exploit the high gold price.

[shortarm] 25/4/2020 06:44

I got bored reading that but I would suggest that holding Kefi may be affecting you mentally?Sometimes selling and forgetting is the best bet - I've done it in the past and despite losing 100k I felt better in that I was no longer searching and waiting for each day for something new or different to fix the problem!

[cybaajak] 25/4/2020 02:39

The one thing I have trouble understanding is why does Kefi HAVE to wait until October to START CONSTRUCTION on a mine that will take up to two years to construct, when every entity involved in this debacle, is dependent upon the gold getting sold to provide income.

Before you say "the Finance Completion is happening then", up until March this year, that was happening June, and then a visible delay of 3 months was arbitrarily inserted, dependent upon a political party outcome, that is NOTHING to do with a Public/Private Partnership. (Even that delay was further devolved when the General Elections got suspended and a State of Emergency was invoked).

I don't profess to understand the intricacies of big business and multi million pound, dollar(Birr equivalent) whatevers, but it all seems shambolic.

First the supposed partnership with ANS. 20 months to complete the paperwork only to find there is no money available from a 'prominent group of banks, finance institutions and insurance companies' is the wording used, wanting to have a slice of the good fortune that Tulu Kapi will, eventually, supposedly, provide.
Its not enough that being a first mover, in an up and coming democracy, that has topped Continental Africa as "one of the fastest growing African Nations BY GDP". (Whats not mentioned is IT WAS 2nd in the list for 10 years from 2008 to 2018. 2019 it was 8th. If the money that has been invested by the successive governments from then, doesn't start providing a return, 2020 will see them drop out of the top 10 because OTHER African nations are seen to be improving their economic and industrial business levels.

hxxps://qz.com/africa/1785100/will-ethiopia-stay-one-of-fastest-growing-economies-in-the-world/

A link for you to peruse IF you want to read more).

I digress from the original point I was making. Its not enough being a 'First Mover', the companies waiting at the door are lining up and watching (impatiently, presumably), to see the feasibility of doing business here. They then have to watch as the Government itself has to push and pull private concerns to pay their contractually obligated remunerations. Confidence building in motion, yeah but also doubts as well.

Along comes COVID19 and ALL the projections are wasted as the world governments struggle to throw money at crumbling economic growth.

And prior to the Arrival of COVID19 The Chair of Kefi cuts all ties with a Bond creation. An entity in formation for the best part of 3 years. (Q3 2017 announcement) and decides to sign up with the VERY SAME BANKS that can't provide ANS funding. Then confidently states October is the kick off date for Tulu Kapi, expecting the same Banks to pony up their commercial share on time. I try not to think of the other 'Confidently Stated kick off dates" the Chair has declared but just from recent memory its over 5.

Its the actual DELAY in getting the FULL finance that causes a growing concern that this project JUST WON'T start at all. Previous to yesterdays RNS it was the delay of ANS to 'UNCONDITIONALLY' pay the FIRST TRANCHE, conveniently forgetting that was ONLY $9.5m(Birr Equivalent) when ANS were MEANT to fulfill a monetary concern of $38m(Birr Equivalent). If they cannot find the first amount, where will the second, or third, or the rest, come from ?

Incidentally, The BOND creation, (in its third year of delay), was subsequently dropped in favor of Two (as yet un-named) Prominent Ethiopian Banks. The very same entities that the members of ANS come from, only in a commercial sense, rather than a private sense. Un-signed paperwork (presumeably being prepared at the moment) continue to do the round robin of in-trays, with declared fiscal amounts on and securities stated therein. IF ANS cannot fulfill their obligation, does that mean the Banks will 'commercially' increase their risk by making up the shortfall ? If so, WHY have ANS at all as partners ?

While pondering that question, it would seem incredible that ANS face NO legal ramifications for that failure.

Don't get me started on the Oxford Dictionary descriptions of the word 'Unconditionally', or 'soon'.

As another poster pointed out above, That is it. That is the news on Tulu Kapi for the next 2-3 months. EG will 'possibly' step in and help out TKGM if ANS don;t front up. All the while juggling between the EG, 2 Banks and ANS(?) how the spoils will get divided. Whilst other Gold Mine Companies reap the whirlwind of improved share prices and future profits of the yellow stuff they have coming out of the ground, either now or in the near future, Kefi share price languishes in the fractions of a penny, whilst the Chair and BoD excavate huge wages out of a diminishing pile of reserves held in Kefi's Bank account. No attempt at cutting costs or sacrificing wages, just profligate wages for a select few, whilst EVERYONE waits around.

What was the First Tranche of ANS funding meant to be allocated towards ? Well there is the small matter of the farmers STILL living on top of the land the supposed mine is meant to be under. Remember September to November last year ? 480 million extra shares on the companies dime. £4m+ building homes to move them too, paid for by Kefi shareholders in preparation for ANS funding, paying the farmers to move too. There were other allocations on that funding but what they were eludes even the most confused mind, as that was LAST year. Its now April. Q2 of 2020. ANS haven't paid, the EG may 'possibly' step in for ANS, the farmers haven't yet moved and the schedule gets more compact as the weeks march onwards.

No ANS 'First Tranche' $9.5m(Birr Eq). Moving onto the next query..

Without ANS 'Second Tranche' $28.5m(Birr Eq). If they can't fund the first part, what about the rest ?

This time last year we were promised that September 2019 Mine Construction would start. (Then a shed was broken into and a couple of shovels were moved). Yeah yeah, I know. We were promised that event in 2017 and 2018. Why should we believe the Chair when he says October 2020.

[bostanli] 24/4/2020 20:39

Cheers Goatherd much appreciated

[digger2779] 24/4/2020 19:27

That's been lifted word for word from today's RNS ??

[asif12] 24/4/2020 18:09

that link doesn't work - Richard

Sorry - it is back up now

[goatherd] 24/4/2020 18:03

Thanks for that Bostani - very interesting indeed!

Well worth a read - and I have put a clickable URL to make it easier

[bostanli] 24/4/2020 17:00

hxxps://world.einnews.com/article_detail/515409435/NNbI36h96syr4CLn?n=2&code=yjBsu9m09toAWb3g&utm_source=NewsletterNews&utm_medium=email&utm_campaign=Ethiopia+Mining+News&utm_content=article

[robjm66] 24/4/2020 14:55

Doubt anyone is being smug just relieved that Kefi TK project is being fully supported by the Ethiopian government and TK will go ahead, contrary to what lots of doomsters were saying. If there is a harry fan club it must be the smallest fan club in the world!

Short term sure there are niggles which I could describe but why bother when people are falling over themselves to describe them. Ignoring the very short term it is ANS coughs up Win or Ethiopian government local or national coughs up Win.

Longer term high gold price news from Saudi low interest rates...

[scrappycat] 24/4/2020 14:33

Personally, I could not give a damn about the timescale, for my grandchildren will reap most of the benefits anyway. Even if I pop my clogs, the shares will form part of my estate. However, I do appreciate that many shareholders will feel differently.

In the meantime, there are plenty of other places to play in this casino called AIM. Happy hunting to all.

[the charmer] 24/4/2020 14:15

Red rook you are like thrush. I am sure that our most literate posters on here can work this out. Lol. :-))

[tim_the_trout2] 24/4/2020 14:11

do let Harry's ding dong dangle in the dirt

TTT

[jaylett] 24/4/2020 14:10

The smugness from some on here when in reality nothing has actually changed is pathetic. A placing in the short-term is now a virtual certainty, hence the price not moving as the market shies away from inevitable dilution, and we're still a couple of months away from any local money being paid at the most optimistic view. And yet certain people are smugly stating that they were right all along and the "moaners" have been proved wrong. Incredible.

I want / need this to recover as much as anyone, but it doesn't mean I'm deluded about what got announced today. A possible lifeline, without much detail or concrete commitment, to follow after another round of punishing dilution of my holdings. That's it.

[fsawatcher] 24/4/2020 14:06

you got nuther 4 months, yep 4 months of nuffin happen

jus drip drip drip lower as trader depart and lth's jus sit like they got months to wait

its a killer but this aint gonna go anywheres until September and even then it hit and miss

i'm tryin to help ya

it goin sub 0.5p coz their aint anythink coming up to deliver interest

tumble weed guys

dead money

i leave it there coz not deramper jus tellin it how it is

jus my thoughts innit nuffin more but i right more times than i draw innit

[cybaajak] 24/4/2020 13:59

you forgot this /s

The s stands for sarcasm or possibly satire ?

[jaylett] 24/4/2020 13:00

"Off-site infrastructure construction programmes are continuing for road and electricity connections."

We've been hearing about these works for a long time now, so you'd hope that substantial progress has been made. I'd love to see a few photos of exactly what's been done, because if there are proper roads and powerlines specifically built for TK, that would do wonders for sentiment.

Of course if there's still just some dirt and one bloke asleep in a plastic chair, that would not.

[andysand] 24/4/2020 12:51

I think that is probably true. It could also be a pump to get a fund raise off the starting block. This would be in line with previous snippets of good news.But I hope it's neither. I hope good things are coming for holders. But I won't be buying in again; I have been burned too often now. Andy

[cybaajak] 24/4/2020 11:52

I can see the market sentiment affecting the share price.. it's currently flying at Wednesdays price.. Yeah, this past Wednesdays price. Although 30m + shares traded means the people who piled in at market open have been dealt a low card, like most long term holders..

[marnewton] 24/4/2020 11:14

It's only yesterday I was thinking we were on the verge of a SHAG!

Thankfully, such folly is now unlikely to come off;)

M

[tim_the_trout2] 24/4/2020 11:13

The Ethiopian Govt if fully committed and is spending it's $20M investment.
About time it told ANS to do the same.

TTT