Kefi Gold And Copper Share Discussion Threads

[robjm66] 12/6/2020 08:04

That’s about right though I would expect some members of ANS board to be putting some of their own funds in either directly or indirectly if they go ahead.

[rich1e] 12/6/2020 07:22

The gold price is in a good place to encourage investment. I’ll invest here myself today. Interestingly despite the stock market jitters the copper price is strong, which might indicate any correction will be short lived. Dr copper usually a good indicator of economic outlook.

[rich1e] 12/6/2020 06:37

Cheers Rob, so the ANS investment is planned through a consortium of investors, who have the opportunity to maintain a portion of private sector investment in the project. As such ANS’s own funds aren’t the issue. More so, whether they can, either interest others in investing, or divide the investment in a way in which other parties are satisfied, contracts etc. Either way the government have said, we will work with you, but if you don’t take the opportunity, within a set time, then we will.

Is that about, right?

[robjm66] 11/6/2020 23:21

Rich1e article seems accurate apart from Covid deaths in Ethiopia now at 40 total. Would expect outbreak to not last as long there as here as they learned from others mistakes and jumped on it straight away.

[digger2779] 11/6/2020 20:03

I know I am stating the obvious but they really do need to crack on. Dow in a tailspin and far worse to come. Gold will rise further and we need to get going now before funding sources start to dry up.
Pity Harry can't give them an ultimatum saying we will concentrate on SA and come back when TK funds become available. There again I don't suppose he's bothered as got funds to keep his lifestyle afloat for at least 6 months.

[rich1e] 11/6/2020 19:45

Small consolation for you guys, but I do favour the intraday RNS’s that seem commonplace here. Gives the market the opportunity to set the price, rather than MM’s moving it 20% in either direction on the open.

[1deedee] 11/6/2020 19:32

Perhaps a question for Harry on Q&A how much more delay are we going to have if ans do not deliver

[1deedee] 11/6/2020 19:29

I make it 13 days before we get any news let's not forget that some of the Ethiopian government are members

[riotinted_specs] 11/6/2020 19:28

On m'y supposition, those wouldn't be the balls of Abiy Ahmed. He may very well be a good follower but it is leadership the world is looking for - start leading Prime Minister. This whole Tulu Kapi KEFI ANS fiasco is making both Ethiopian business and Government look like outright novice fools. Try harder

[riotinted_specs] 11/6/2020 19:03

I might say that considering yourself an idiot would be a bit harsh. Naive might be closer to the mark. If we look at the recent ethnic cleansing problems in Burma we can see Aung San Suu Kyi is pretty powerless, impotent and unable to exact change. I think it would be reasonable to assume this has been since the case before and since being awarded the Nobel Peace Prize in 1991. Regardless I am riding the bumps of my investment with Kefi and have and will not take a penny out. Prime Minister ABIY AHMED and SAMUEL URKATO and show the world you are at the helm rather than being towed along with the real power brokers. I am quite confident that Ethiopia will attract more foreign investment with confidence that there is true governmental leadership

[rich1e] 11/6/2020 18:50

I’m trying to get up to speed with this, and have found this article relating to the issues being discussed on here. Would welcome, any input as to whether it’s an accurate reflection of what’s supposedly going on in the background?

hxxps://www.sharecast.com/news/aim-bulletin/kefi-minerals-confident-in-tulu-kapi-despite-covid-crisis--7445523.html

[sussexlibran] 11/6/2020 17:04

@chopper - Given the "wooly" wording of all Kefi's RNS', it's easy to interpret it the way you did. But, to me, it most certainly does NOT guarantee that funding will be done-and-dusted by end Q2. It just says that when ANS don't cough up they will "look into" further funding. As I said before - further dilution at "give away" prices to enable the connected few to flip cheap shares and Harry to draw more cash from a bust company - highly likely.

[shortarm] 11/6/2020 16:56

I agree - we should sell as a protest!!!You first :-D

[chopper harris1] 11/6/2020 16:47

I'm sorry but recent communications from the company gave me the distinct understanding that initial funding, from whichever source, would be settled by the end of Q2 and that the main funding would be sorted by the end of October 2020.

These are two timelines that really need to be met after all the previous missed ones.

Harry got his heavily-dilutive placing away on the assumption, I'm sure, that this schedule would be met and that after many false dawns, KEFI would finally get the TK project rolling operationally.

If we're still scratching around for investment after October then who knows what is going to happen. Well, we can be certain of one thing.....another placing of at least half a billion shares to "keep the lights on".

But to "keep the lights on" for what? To see us through another period of missed timelines and operational inactivity before we have yet another placing to "keep the lights on"? Because that's what's been happening for the past three plus years.

[fart_conductor] 11/6/2020 16:06

Time for tiffin Harry ?

[sussexlibran] 11/6/2020 14:02

@riotintedspecs - exactly. Some people have interpreted this as Kefi will have funding by end-June if ANS do not pay up. What it REALLY means is that if (ie when) ANS don't pay up they will start to look around for other funding options. It offers NO timescales, nor guarantee that funding will be provided. More dilution by Harry later this year to wring more cash out of a broke company?! You bet....,...

[scrappycat] 11/6/2020 14:00

RTS,

Maybe I am an idiot, but I cannot see the selectors for the Nobel Prize awarding the last Peace Prize to a 'spineless puppet'.

[robjm66] 11/6/2020 13:53

Do not think Abiy is a spineless puppet must have taken a lot of balls to try to reform Ethiopia and create the amount of change he has done in such a small length of time.

[riotinted_specs] 11/6/2020 13:46

"it will this quarter look to arrange either direct or indirect funding into TKGMfrom its investment institutions for the required amounts if there is any furtherdelay in investment via ANS Mining;"This statement is very non-committal. "LOOK to arrange" does not translate to "SECURE FUNDING by end of June. In fact this "LOOKING TO ARRANGE" is only dependent on further delay. EG can therefore BEGIN TO "LOOK to ARRANGE" in the last hour of this quarter and stand by this statement. Of course this will give ANS extra time as this will buy yet another month. It's important to realise that PRIME MINISTER ABIY AHMED and his lap dog colleague MINISTER OF MINES SAMUEL URKATO are spineless puppets who are told exactly what to do by Ethiopian business and ANS..

[digger2779] 11/6/2020 13:44

The bit that worries me is "will look to arrange". So when the looking is done how long until the funding arrives?

[robjm66] 11/6/2020 13:17

"In addition, the Government and KEFI have agreed changes to their shareholder agreement and the TKGM foundation documents to admit additional Project equity investors into TKGM if required, although both parties are actively collaborating directly with the proposed Project private equity investors to facilitate their subscription as per the closing timetable,"

Even kefi bound to have now a contingency plan if ANS is replaced by the government but probably will not emphasise it too much as they hope ANS will pay up and it will not be needed and they will not want to upset ANS. They would have talked over some of the practicalities with the Ethiopian government when persuading them to be the plan B.