Kefi Gold And Copper Share Discussion Threads

[sweetwaters] 19/6/2020 07:23

News release, shu that is a tortous read. A lot of words to say ANS 30 June comitment doesn't stand anymore, not the timeframe for paying cash, not the amount, hell we're not even sure if it's ANS anymore but hopefully we'll know the local equity is sorted by 30th June.

Actually I don't think there's much more HA can say, he's led the company into a boxed corner and given someone else the key to let the company out. As shareholders we have to deal with his ego, as he self-assumes the role of annointed one to shareholders.

[shortarm] 19/6/2020 07:20

Finalised later this month - not much of this month left lol!

[jaylett] 19/6/2020 07:17

ANS are a bunch of clowns. A week away from being kicked out and we still can't even say whether they're in or out, let alone for how much.

(hint: they're out).

An incredible project, held back for years by a load of Del Boy spivs with nothing in their briefcases but their lunch and a copy of Exchange and Mart. Boot these chancers out and let's crack on and make some money please.

[robjm66] 18/6/2020 18:23

Now showing the exact same amount of shares bought as well so just someone rolling over their holding.

[1deedee] 18/6/2020 17:46

Strange flip of shares large amount at end of play I don't know but maybe cheap shares are being sold for profit overhang

[the charmer] 18/6/2020 12:21

The answer is blowing in the wind Lol!

[fart_conductor] 18/6/2020 12:15

Must be time for tiffin Arry and an upside down cake .. like the sp

[topicel] 18/6/2020 12:08

I think that option sailed three years ago Est!

As for gritting one's teeth, unless I get to see a dentist I fear mine would disintegrate if I did that, ;)

Topicel

[estseon] 18/6/2020 11:21

Stay calm: grit your teeth: don't sell.

[shortarm] 18/6/2020 11:12

Here's hoping!

[sussexlibran] 18/6/2020 10:28

@robjm66 - the URL on their linked in page is different and doesn't work. Never mind......I guess it's not that important to them.

[robjm66] 18/6/2020 10:24

hxxp://www.momines.gov.et/web/guest/home tried it seems ok now maybe it went down under lot of people suddenly trying to use after webinar? Think there was a slightly different internet address for new website in presentation but did not have time to write it down.

[outlawinvestor] 18/6/2020 10:22

hxxp://www.momines.gov.et/
hxxp://www.ethiopia.gov.et/ministries-and-agencies

[robjm66] 18/6/2020 10:18

Article in Addis Fortune News 5th of march Kefi website.

Q: I have come across a news article from the Addis Fortune News website which details ANS's involvement in the Tulu Kapi project.
The article is fairly positive but the journalist has provided the below comment, which suggests that ANS don't have the capital to hand for the project and need to sell shares within their vehicle to be able to make payment:
"To raise capital, the executives of ANS Mining are planning to start selling shares, according to Hailemelekot Teklegeorgis, a founding member of ANS Mining, which hopes to sell one billion Birr worth of shares with a par value of one million Birr starting this coming September."

Are you able to confirm whether this share sale from ANS is a secondary issue once they have injected their capital into the project or whether this is a primary issue? As mentioned within this article, they are intending to sell shares until September which would make the receipt of funds to TK be delayed if they are selling as a primary issue.

A: Not an accurate comment and a bit garbled We have been advised that ANS’ subscription is arranged. Arrangements are proceeding for the closing of the first subscription funds from ANS to TKGM of US$9.5 million (Ethiopian Birr equivalent) in accordance with standard local procedures. As announced, the total ANS commitment is US$38 million with the first US$9.5 million (Ethiopian Birr equivalent) being unconditional and subsequent amounts in accordance with the conditions previously outlined.
Posted 05 March 2020
-------
Think ANS could raise funds from the public for secondary investments, probably connected to kefi exploration areas that they haggled over with kefi and would be lot easier to do so after the first tranche paid over for TK.

[sussexlibran] 18/6/2020 10:11

@estseon - I'm also a victim of the Government Gateway. But I didn't think it should be too hard to point a URL to a functioning website. But there you go.

[sussexlibran] 18/6/2020 09:35

I just searched "ministry of mines ethiopia" and found a "FDRE Ministry of Mines and Petroleum" linked in page. It has a link to their website (mom.gov.et), which (when clicked) gives 'unreachable'. The whole setup seems sloppy. For a country that advertises it is 'open for business' and pushing their mining industry, it's not doing a very good job!

[jaylett] 18/6/2020 09:21

Per the Ethiopian newspaper piece, they were trying to raise funds for their investment vehicle this year, September was mentioned I believe. It's one question that HAA has never really addressed properly in my opinion; did ANS ever actually have funds to inject, or were the various delays and silly requests for security reports etc. just a stalling tactic while they attempted to raise the relevant funds via secondary sources. If it's the latter, why did KEFI not do proper due diligence before tying us in so comprehensively? That one decision cost us all a significant chunk of the company; yet another costly mistake to add to the list of blunders.

If it's correct and ANS were planning on being out raising funds around this time, you can easily see how Covid has chucked a spanner in those particular works. In my opinion (I know it's very important to say that a lot on this board), ANS are out. I just hope that someone else is already in. No more "look to" or "commence preparation for" drivel, I beg you.

[shortarm] 17/6/2020 20:27

Dude, I'm positive you would have it all sorted by now! Only...... Well, you're just not there and not doing it are you!?I haven't invested in a single mining project that hasn't frustrated me with timescales yet!

[goatherd] 17/6/2020 19:29

Shortarm,

RoseTinted is certainly not a "know it all".

His "knowledge" is limited to guesses. So he is more of a "know nothing".