Kefi Gold And Copper Share Discussion Threads

[robjm66] 27/4/2020 19:56

hxxps://www.mining-journal.com/exploration-development/news/1385658/kefi-upbeat-amid-global-turmoil (No I do not have access to the full article).

[cybaajak] 27/4/2020 12:34

Lets face it. What was meant to be June, then pushed to September, then delayed to October (much the same as the previous 3 years of RNS saying "soon", "unconditional" and "Closure on Finance") in fact means 'NOT this year, possibly next, probably the year after but lets not get too far ahead of ourselves, I've got massive wages to earn and there will be plenty of opportunities to use 'unconditional', 'soon' and 'Closure on Finance' again. Lets see, Oh yes the company reports are due before 30th June. So I've got to prime Kefi and my Bank Accounts with a placing, dilution and I'll add a few warrant awards in as well. A shareholders meeting, think that will need to be held Timbuktoo this year, don't want the Nervous Nellies kicking up a fuss do I. Wonder how the workers I sent home are doing?.... Oh well must crack on, things to do.

[digger2779] 27/4/2020 11:54

Only another 4 months to be strung along waiting for the "soon" money. EG will be looking into it and once they have looked not a lot will happen but hey ho they've looked because they said they would.
Meanwhile keep head down and rake in 30k a month for doing less than before as no doubt he can't accompany whoever to the notary or bank due to lockdown.

[scrappycat] 27/4/2020 11:47

I am not the least bit irate. I just dislike posts that do not reflect the facts. You are welcome to your opinions, but to state someone is lying, but fail to provide proof, is wrong IMO. It might even be considered libellous. To say some of his posts may be considered by some to be misleading is ok, but to state he is/was lying is totally different.

Just to satisfy you, I will state, categorically, that I have no connection whatsoever with the company, other than being a long term shareholder. Some may well feel I am being far too finnicky. That is their choice.

[outlawinvestor] 27/4/2020 11:15

Why do you still own them? As you distrust Harry so much?

One reason is that owners (i.e. shareholders) always outlive managers. HAA could resign or be sacked.

[goatherd] 27/4/2020 10:30

Why do you still own them? As you distrust Harry so much?

[sussexlibran] 27/4/2020 10:24

Oh, and for the record, I still hold 1m shares and am not a shorter!

[sussexlibran] 27/4/2020 10:24

The latest RNS tell us, quite clearly, what we knew all along - that Harry has been lying to all shareholders about ANS and their "imminent" payment. Stringing shareholders along. Let's hope the EG step in and get this moving after many years of delays.

[richsmithsmith] 26/4/2020 18:36

Added on Friday too...Am reading the current situation as ANS were dragging their heels on funding and have now been told pay up or the Gov buys your shares. Its local currency so no liquidity issues. Was always nervous that there was no plan B with the funding... this is clearly the plan B.

[bradley12] 26/4/2020 18:23

Tim,

At the cost of reduced equity share for ANS.

Brad

[digger2779] 26/4/2020 17:26

czar - it's those words "look to arrange" which is a worry. In Kefi speak it means naff all, just like "soon", "imminent", "seek", "unconditional" and all the other nuggets (pardon the Saudi pun) that's been bandied about for the past 8 years or more.
What I would like to see is "the initial funding is in our possession and on the ground operations have commenced". Or something like that and that Harry et al have taken pay cuts while we wait. They can always recover these pay cuts in options galore once the gold is poured but but?

[tim_the_trout2] 26/4/2020 15:59

The offer from the govt to find further funding sounds promising but at what price?

TTT

[czar] 26/4/2020 15:13

I bought all I could afford on Friday after this news. Tulu Kapi, imho, looks certain to go ahead and the value has increased. It was surprising that the shares were so cheap to buy, I thought they would go over 1p. Good old AIM punters, I love em.

"In addition, as an important new development, the government has now also advised both Kefi and ANS Mining that it will this quarter look to arrange either direct or indirect funding into TKGM from its investment institutions for the required amounts if there is any further delay in investment via ANS Mining."

[outlawinvestor] 25/4/2020 13:40

Correct Rob and if the delays are really about getting it right then KEFI (and others) will benefit in the long run. I hope KEFI's legal people are all over this as well and are happy with the legal framework... I think it would be troubling if ANS eventually walk away or get booted off for legal process reasons. Last thing KEFI shareholders want down the road is some loophole in the PPP denying rights to the assets.

Anyway it's just a point of view, I am as unclear as anyone else why ANS have been dragging their feet.

[robjm66] 25/4/2020 12:31

Outlaw the whole private public thing is new territory to the Ethiopian plus they are going to want to demonstrate politically that the country and the region really benefits for political reasons.

Think the Ethiopian government has helped Kefi several times now so trust them just its is all new for them.

[outlawinvestor] 25/4/2020 12:07

With ANS think they have the money for TK at least just want reward without any risk (don't we all).

Agreed Rob, ANS (highly likely) have the funds. I think it might be more accurate to say they want to reduce the risk as much as possible and I can hardly blame them unpopular as it might be with KEFI shareholders.

No one in their right mind really wants to be co-shareholders with any govt (not unless you need a bailout). BARC and other UK banks did their best to avoid Gordon Brown's warm embrace during the GFC. Certainly not with any African govt.

Considering that the EG were making all the right noises about "getting it right" with this first PPP it makes total sense for ANS to wait until all i's are dotted and t's crossed. Good intentions from the EG is one thing, a cast iron legal framework is another... Unfortunately KEFI hasn't got the same option.

It's a real shame the EG want equity for doing their job - building roads and piping electricity. Any other govt would have taken royalties and taxes and focused on providing an environment where the private sector gets on with it.

[goatherd] 25/4/2020 11:28

Actually the mine will not take two years to construct - indeed, a lot less. But it will take two years from passing GO. The difference is in lead time of buying plant and machinery, taking on staff, possibly training staff (don't forget KEFI are running Ethiopia's mining training school) and lots of other things.

Few people have mining-sized trucks etc lying about, they have to be manufactured or acquired on the second hand market and then shipped to Ethiopia - they will not be there already. Then there is accommodation for the mine workers - must be done before they arrive!

[thedickster] 25/4/2020 10:37

Thank Arry should run this as an intro to his next quarterly whatever he calls it.