Kefi Gold And Copper Share Discussion Threads

[1deedee] 21/5/2020 13:20

Just added again as well fully funded until funding this will certainly double in price if not triple on news no ramping intended just my thoughts

[bluesbeater] 21/5/2020 13:09

More an incorrigible optimist than gullible in my book. If I wasn't guilty of the same I would have sold long ago. Just added a few more... My umpteenth purchase...

[goatherd] 21/5/2020 10:38

estseon,

Yes, I suppose it was. I am very sorry, I did not mean it that way.

"If you have the time and inclination" was more what I meant.

Incidentally Harry is NOT my hero. He has made expensive mistakes (especially in funding arrangements) BUT I am not sure he had any options.

I think his main fault is that he may be a bit gullible - he appears to believe what people tell him; or perhaps he is just not a very good judge of character.

[bostanli] 21/5/2020 08:31

I do,much appreciated and also agree with Tax, keep it up est!!

[taxlosstone] 21/5/2020 08:15

I think that most on this board really appreciate your input, estseon. I know I do. One thing about goatie is he's normally scrupulously polite. I think that he just felt that he was possibly putting you to trouble. Guess he'll be able to explain his thoughts better than me.

[estseon] 21/5/2020 08:06

goatherd,

that's a rather sneering request - "if you can be bothered"

An NPV is a discounted cash flow. Initial costs are accumulated until time 0, the time when revenues begin to flow, and the projected stream of revenues and costs are then discounted back to that time, the NPV being the excess of the DCF over the accumulated costs at time 0.

HAA is always making these throwaway remarks, like the one in December 2013 about commencement of production in 2016.

Your idol does not define cash flows in that throwaway remark. He does not give the slightest clue of the cost of what may be a 3-stage mine development, nor of the period over which the 10m tonnes of ore will be mined.

If you want to place some kind of value on his throwaway figure, think of an appropriate "value in the ground". So, for instance, 10m tonnes @ 2% at, say. $1,000/t metal works out at about 2.8p/share.

What used to be a company-maker has suffered from the savage dilution that resulted from the failure of the Company to even properly fund the work needed on the unfunded TK project up until 2016, the original commencement of production target. He saw a candy in the store, wanted it regardless and he has left a trail of sweet wrappers ever since whilst he tries to find the sugar candy hidden inside. And, as he peels off the wrappers and casts them aside, the sought after candy shrinks in size.

[glennborthwick] 20/5/2020 20:34

quite a few online brokers have monthly savings plans which can buy set amount of shares free of trading costs. that's what most of the small purchases are.

[1deedee] 20/5/2020 19:01

Again I see a lot of small buys in the market it must cost them to buy the shares probably more than what the shares are worth doesn't make sense

[goatherd] 20/5/2020 17:58

Estseon,

Harry did mention "10m tons at 2% copper equivalent"

What would your NPV for that look like? (If you can be bothered!)

[1deedee] 20/5/2020 17:56

Thanks estseon your intake and your calculations always appreciate I do like reading when you posted onwards and upwards did sell earlier on a couple months ago I tried a new share wish I hadn't but I'm back in with kefi now for good for the long run wish I never sold cost me dearly hey ho very positive

[estseon] 20/5/2020 17:08

My spreadsheet NPV at time of commencement of production at $1700 & $1.25:£ including the underground PEA is 9.63p/share (1.896bn shares). Add Guji-Komto, and that becomes 13.7p. So, it could add 40% if it can be brought on-stream at commencement of production from the main mine.

Hawiah is all guesswork not least of all because of timing. We could have a better idea within a month or so if Kefi reports as promised.

[estseon] 20/5/2020 16:52

It's the satellite deposits that could add significant value because of the shallow highly oxidised ore and the ability to use the mine facilities at TK. He possibly cannot talk about those yet because the licences will be awarded on commencement of construction.

Presentation 10/04/2018 slide 15

KEFI can quickly add to Tulu Kapi open-pit gold production by developing:
• Shallow, low-cost gold resources within trucking distance of TK processing plant or as a stand-alone heap leach operations

• Potential for more than 250koz at 1.0-1.5g/t gold of oxides in a series of shallow open-pits (40m depth) along the more than 9km of Komto-Guji Belt

• Heap leach operations could quickly be brought into development and produce an
additional 30-35koz per annum for Tulu Kapi at low stripping ratios and high gold
recoveries (>94% recovery from CN bottle rolls has been achieved on surface samples)

• Low opex and capex as most infrastructure would be provided by the Tulu Kapi site

It doesn't look much but plug in 30k ozs @ AISCs of, say, $700, and that will provide an additional $23m post tax annual cash flow at current prices with little capex to service and a much smaller minority interest also.

Which raises an interesting point: if ANS does default in its obligation to provide capital to TKGM, will that mean that they will be shut out of KME? If so, unless another partner comes along, the only minority interest in the satellites will be the statutory 5% free carry for the government.

[matthew stone] 20/5/2020 13:25

Just listened to this again - best I've heard yet from Harry; very impressed...He came across much more bullish and confident rather than defensive as previously. Couldn't keep the excitement out of his voice when talking about Saudi either.

[joeblogg2] 20/5/2020 12:53

All the more reason to get the mine up and running asap for EG to take advantage of revenue in these times!!!!

[mam fach] 20/5/2020 12:44

All very apt and factual comments.
Everyone has different view point, mainly depending on what price they bought at.
Rather comforting that price is holding at this level.
GLA

[asif12] 20/5/2020 12:38

And this is all based on current price of gold. By the time Saudi kicks in we don't what the price of Gold will be.

I adding as much as I can when funds become available.

[taxlosstone] 20/5/2020 12:33

I think he implied that it could be a 20 bagger rather than a hundred bagger.

[asif12] 20/5/2020 12:32

And what about dividends? They will be paying that as well at some point when all of this is up and running.

[digger2779] 20/5/2020 12:28

Cheers Shortarm.. that would be most acceptable if it happens in my lifetime 👌🤞😁

[shortarm] 20/5/2020 12:20

Doesn't include Saudi.Maybe Saudi will ten bag your ten bagger?

[digger2779] 20/5/2020 12:18

Ten bagger equates to 9p at current buy in levels.If you take into account the 17:1 consolidation then this is just over half a pee for us lucky nervous nellies/stale bulls.
Assuming this bagging will take place we all should have waited until now to buy in but had we had done so there probably wouldn't be a company as there would be no-one to milk. I'd have probably lost my money elsewhere so am hoping to he pulls this of soon.
Does the 10 bagger include Saudi as well? Not listened to podcast as I can't stand looking at the bloke anymore.

[scrappycat] 20/5/2020 12:00

Scars,

Viewed objectively, I find it difficult to envisage what he could truthfully say, other than what he did say. The Covid19 pandemic is playing havoc with the economies of the world, and this havoc is only likely to escalate as time passes. No country can be confident of its financial future, and unemployment will continue to rise enormously. Government revenues will decline markedly, and expenditure will increase drastically as funding is provided to the vast numbers of unemployed. It is quite possible that this is only the beginning. Until a vaccine is produced, and with no real treatment or cure in sight, the future looks pretty bleak.

The Ethiopian economy is not immune from this. Harry emphasised this, and other problems that had impinged on the project. However it does seem that TKGM offers a 'golden' opportunity for the EG to offset the damage caused by the Covid19 effects, and the EG will be well aware of this.

In this climate, pretty much anything any government/company says should be taken with a pinch of salt, through no fault of their own. Survival is the name of the game.

[sussexlibran] 20/5/2020 11:39

@scars - a VERY large pinch! I bought my first tranche at 3p old money - and then, Harry was saying the share price would get to a quid! So him harping on about a ten bagger is just the usual sales talk, trying to keep people interested. Money talks....and, as yet, there is none.