Kefi Gold And Copper Share Discussion Threads

[jaylett] 11/5/2020 10:36

Of course they are, Rob. Everyone Harry gets into bed with makes a fortune, except those buying shares in the company that he runs. You just need to do a very simple calculation of money raised in the last ten years minus current MCap to work out that lots of people are doing very nicely indeed out of this farce. Tens of millions of pounds has vanished into thin air and we're left with not much at all to show for it, other than the very same sets of rocks in the ground that we started with.

[paleje] 11/5/2020 10:35

No excuses for Harry but......this is a terrible market for any cash strapped junior to negotiate (I'm well aware H has been at it for years).

ARS (copper) made a placing with a cornerstone investor a few weeks ago at a massively discounted .9p and there was uproar and vitriol exactly the same as here but the share price has now tripled from that terrible placing price because the underlying value is so huge. Same could easily be applied here based on John Cornford's (modest) valuation numbers which he published last week.

I know it hurts when you're much higher up on average, I've been there loads of times, but based on current mcap and projected values especially in light of the growing opinion that gold could be near $3000/oz by end of next year, this is very cheap if still high risk.

[robjm66] 11/5/2020 10:31

Harrys like the schoolboy that gets his lunch money stolen every single day Rab going to make a fortune out of kefi, can even exercise warrants when the mine is up and running.

Harry probably is happy to get a deal away but if he had a better feel for the market and the sentiment around gold miners and that it is shifting he would have realized if he had waited just smidgen longer could have got a much better deal.



hxxps://www.wikipolitiks.org/wiki/RAB_Capital

hxxps://www.proactiveinvestors.com/companies/news/919175/black-iron-closes-c18m-private-placement-with-major-investments-from-rab-capital-and-lind-global-macro-fund-919175.html

[fart_conductor] 11/5/2020 10:25

Must be time for tiffin on the veranda

[thedickster] 11/5/2020 10:17

Yep, and Covid is Christmas come early for Arry. He can always use it as an excuse if this never gets off the ground.

[fart_conductor] 11/5/2020 10:15

Harry Houdini pulls another stroke .. boys a genius

[easwarareddy] 11/5/2020 10:07

Good opportunity to get into 'cobr' cobra resources. News due... below are some figures drawn up on lse by a poster. You can see the short term potential. MC of 10-15% of in ground resource1 million OZ is currently $1765 I calculated costs at $765That leaves $1k per oz even if we only retained 60% of the company the rest was offset for drilling and JV partnerThat leaves us $600 per oz or approx £500 per oz500 x 1 oz = £500m very easy maths from here (MC this morning is ruffly 5m so divide 5 by the below current MC then times the current share price – 3p I then factored this by 60% for the 100m shares warrants, why it may not be 100% accurate it gives you an idea)1m oz - £500m (MC at 10% & 15% £50-75m) 30 – 45p / 60% -16.75% = 14.98p – 22.4p(x6.24 – x9.3 current value of holding @ 2.4p)2m oz - £1billion (MC at 10% & 15% £100-150m) 60p – 90p / 60% - 16.75% = 29.97p - 44.95p(x12.4 – x18.7 current value of holding @ 2.4p)3m oz - £1.5billion (MC at 10% & 15% £150-225m) 90p - £1.35 / 60% -16.75% = 44.9p – 67.4p(x18.7 - x 28 current value of holding @ 2.4p)4m oz - £2 billion (MC at 10% & 15% £200-300m) £1.20 - £1.80 / 60% - 16.75% = 59.94p – 89.9p(x24.97 – x37.46 current value of holding @ 2.4p)5m oz - £2.5 billion (MC at 10% & 15% £250-375m) £1.50 - £225 / 60% - 16.75% = 74.9p - £1.12(x31.25 – x46.8 current value of holding @ 2.4p)6m oz - £3 billion (MC at 10% & 15% £300-450m) £1.80 - £2.70 / 60% - 16.75% = 89.91p - £1.35(x37.4 – x56.19 current value of holding @ 2.4p)7m oz - £3.5 billion (MC at 10% & 15% £350-525m) £2.10 - £3.15 / 60% = £1.05 - £1.57(x43.75 – x65.5 current value of holding @ 2.4p)Buy Out1m oz - £500 million (MC at 5% & 7% £25-35m) 15p – 21p / 60% - 16.75% = 7.5p – 10.5p(x3.12 – x4.37 current value of holding)2m oz - £1billion (MC at 5% & 7% £50-70m) 30p – 42 p / 60% - 16.75% = 14.98p – 20.97p(x6.23 – x8.73 current value of holding @ 2.4p)3m oz - £1.5billion (MC at 5% & 7% £75-105m) 45p – 63p / 60% - 16.75% = 22.47p – 31.46p(x9.47 – x13.1 current value of holding @ 2.4p)4m oz - £2 billion (MC at 5% & 7% £100-140m) 60p – 84p / 60% - 16.75% = 29.97p – 41.95p(x12.4 – x17.47 current value of holding @ 2.4p)5m oz - £2.5 billion (MC at 5% & 7% £125-175m) 75p - £1.05 / 60% - 16.75%= 37.46p – 52.44p(x15.6 – x21.85 current value of holding @ 2.4p)6m oz - £3 billion (MC at 5% & 7% £150-210m) 90p – 1.26 / 60% - 16.75% = 44.95p – 62.9p(x18.72 – x26.2 current value of holding)7m oz - £3.5 billion (MC at 5% & 7% £175-245m) £1.05 - £1.37 / 60% - 16.75% = 52.44p – 68.43p(x21.85 – x28.47)I factored in 100m warrents and 60% ownership without these you could double or treble those buy out figures

[goneawol] 11/5/2020 09:56

Cyba, they explained what the January placing was for on 17th December.

[scrappycat] 11/5/2020 09:42

I doubt anyone on these boards has much of a clue about what is required for companies to borrow a significant amount of money in the current environment. The world economies have been hit hard, and all governments must bear the cost of fighting the virus, and a very large percentage of companies will be cash starved. Pension funds, etc, have been hit hard, and pensions must still be paid. Even the accepted safe haven of gold, has been wallowing because of governments having to conserve funds for fighting the virus.

In Ethiopia, the infection rate has gone up by approximately 100% since the beginning of May, and the government are under a duty, as are all countries, to try to ensure they protect their population to the best of their ability by providing, as best they can, the facilities to fight the virus. Hence, although I firmly believe the mine will open eventually, there can be no certainty about when they feel confident enough to provide funding.

Given that situation, I think Kefi did well to actually get the placing away. I can only think that RAB, like me, are confident the mine will come to fruition. Yes, we have dilution a plenty, and I suffer that as do we all. Unlike some on this board, I am not in the blame game, but recognise that these are incredibly difficult and trying times.

[taxlosstone] 11/5/2020 09:35

tyler

If you're looking for a bit of fun, I'm afraid that you've come to the wrong place.
:-(

[robjm66] 11/5/2020 09:34

“The Placing Price was set by applying an approximate 12.5% discount to the VWAP for ordinary shares for the three-day period prior to the commencement of the marketing of the Placing on Thursday 30 April 2020.

Assuming that the First Placing and Second Placing are completed, the Company expects that it will be fully funded until Q4 2020,” Harry panicked and made a dogs breakfast of this if he waited a few days could have raised the money at nearly twice the price.

Good that people had the confidence to wait without getting paid and taking a pay cut now but in harry case cut should be a lot higher.

[tyler durden1] 11/5/2020 09:19

bought a few this morning for a bit of fun, but there are pertinent questions for the BoD that perhaps City of London Police might want to look at.

For months Covid has been the reason for the delays/shut down operations etc. etc., so the burn rate should have been negligible?

where has the money gone?

[the charmer] 11/5/2020 08:59

A question for the Kefi Q&A board?

[cybaajak] 11/5/2020 08:58

£1.7m raised in January. 4 months later a further £3.7m to be raised by a 1/2 billion share issue, the company finances were running at £0.5m a month and the wizards at the top HAVE NOT been paid... where is it all going ?

[molatovkid] 11/5/2020 08:57

Once you get projects underway, then different financing can become available. We're not necessarily tied into a continual series of placings.

For example, the World Bank may lend money if it helps a profitable project get underway in a country such as Ethiopia that require development help.

[the charmer] 11/5/2020 08:57

Now there is a conundrum.

[cybaajak] 11/5/2020 08:56

Hang on.. IF the board HAVEN'T been paid this year, where did the wadge of cash raised in January 6th Meeting go, all £1.7m of it.

[cybaajak] 11/5/2020 08:53

General Meeting 28th May. Not much prior notice on that. Thought it had to be 21 days.. Also meeting held in Australia, not London. I know it can be held anywhere but still. Also NO mention of the 2019 Yearly Report that is due before end of June so ANOTHER GENERAL MEETING after this one !!!

Just as a gauge on the 1/2 Billion extra shares he's just confetti'd on everyone.. thats like a quarter of the current shares in issue.. so any calculations on future share price of 10p (seriously.. will it ever get that high)by Q3 2022 are now 7.5p WITHOUT any further dilution in 2021 and 2022..

I'm shocked people can actually find good news amongst the wreckage of this RNS.. Mind you the some of the same people were expecting RNS funding since August 2018 and look where that has led.

[taxlosstone] 11/5/2020 08:52

Meeting in Australia's nice & handy. :-(

Advisor getting £200,000 (not sure if that includes or plus 28,461,538 3 year warrants @ 45% discount to Thursday's close) for securing us funding at 45% discount. Guess you have to pay up for such amazing terms. :-(

The board have not been paid to date this year. It's their own fault for demanding to be paid what they're worth. ;-)

[the charmer] 11/5/2020 08:51

There were many, I am sure, who took advantage of at least that price a short while ago :-)


Edit - At least you agree that RAB capital is a valuable partner..

[the charmer] 11/5/2020 08:48

I don't think this has been the first sign of complaint. IMHO.

[thedickster] 11/5/2020 08:34

RAB Capital invested in Oxus Gold, which ended up going bust. Not the brightest of folks.