Kefi Gold And Copper Share Discussion Threads

[scrappycat] 07/6/2021 10:13

I am not averse to delaying, challenging, the bonus payment. Quite simply, I do not wish the issue to delay funding. We have been waiting quite long enough. I am 79 years old, and no Harry sycophant. However, I do recognise the unfortunate events that have affected funding issues previously. I can understand why Kefi do not want to rock the boat with regard to their relationship with the EG. The EG are/, after all, providing the Mining Permit, and in an unstable situation Kefi are/have been, imo, wise to tread carefully.

[estseon] 07/6/2021 10:11

rob, tops, rio - you have mails

[robjm66] 07/6/2021 10:04

Topical yes guess we are focused on seeing/hoping TK gets over the line, with the timing of the webinar think its more about building momentum in advance of the final deal. He is expecting good news so will highlight that news in the webinar then reinforce it at the AGM.

It is a common trick with companies to move the AGM slightly to coincide with any good news so they have an easier ride so promising that the AGM was not moved into July.

[robjm66] 07/6/2021 09:53

RobertJbeck several people have taken shares instead of wages so not a lot of difference though might have been more headline grabbing if they paid them money then they bought the shares.

[topicel] 07/6/2021 09:52

"Personally I'd rather see this particular resolution removed, and if funding is successful then at the next Remuneration Committee see an option reward that looks less blatant than the cash payment, but where it could result in a greater payment for Harry and Co. without any of the potential damage. Option for even £500,000 of shares should be worth multiples of that if the potential is as we all are led to believe."

100% agree with this PensionPlanner.

This is Trumpian 'the art of the deal' blackmail. He's aware the extra shares will be huge, another consolidation is likely, and he wants to sweep up plenty before it comes to that. Or, 'no deal'.

He is the fattest of cats. And the Q&A about Ausdrill going was exactly the same nonsense as when Standard Life and Odey jumped ship - 'no longer the right fit' instead of 'changed portfolio fit'...

I referenced what Lofgran did in this way to get control at NTOG, and this is also similar. Either vote this part down or do as PP is suggesting above. Get the deal done, the funds in, and when the share price hits, say 5p ;) - he can have his bonus.

Blimey, talk about cake and eat it! Still up for a visit to Cyprus and Harry Towers Taxloss?!

Topicel

[divmad] 07/6/2021 09:48

I see that kefi made a loss of £5.6mn in 2020, raised equity capital of £7.4mn and had cash of £1.3mn at end December. Where will kefi get the $1mn to pay Harry his bonus in cash, if not from another placing? That's on top of needing probably another £5mn or so of fresh equity just to keep going at last year's rate of progress.

[scrappycat] 07/6/2021 09:48

Katsy,

True, but there will also be $millions in the Kefi bank account. If you cannot accept dilution, what on earth are you doing in an AIM stock. It is, almost universally, the only way they can raise the money to develop.

[mesb48] 07/6/2021 09:44

Reading the breakdown of the conditional funding commitments, it feels as if it’s been firmed up quite a bit even if they are still indicating a small shortfall. But one key reason it seems organising the funding has taken longer seems to me to be the capex bill has crept up. Previously I understood $221m was needed, excluding 60-70 for the mining fleet, so definitely under 300 overall. Now they are looking for 310 to 330 ‘depending on final procurement price confirmations’. A consequence I suspect of how long this has dragged on.

[rich1e] 07/6/2021 09:40

Will we see finance signed this month that is the question?

[scrappycat] 07/6/2021 09:38

PP,

I posted $1.5 million, not £1.5 million. I expect Managers to Manage, not put every step they take to the shareholders. I wonder how many other AIM CEOs have had to cope with changes of Government , coups, civil war, Locust storms etc in addition to Covid.

Vote as you wish, as will I. It is a free country.

[megordon] 07/6/2021 09:37

If he can't even negotiate at least 2p for a placing at this stage with the given assets he should be resigning not looking for bonuses.

[robertjbeck] 07/6/2021 09:33

I dumped 50% of my holding and will take a view on the balance following AGM. Use the proceeds to buy more POW where the CEO regularly buys shares in the open market. Such a contrast with snouts in troughs.

[scars] 07/6/2021 09:30

For them to confirm a placing they must have set a price and it would probably not be as low as 1.35, more like 1.65!

[robertjbeck] 07/6/2021 09:30

At least EUA management went through lengthy periods of salary sacrifice to build the business and purchased a substantial number of shares rather then being given free money for doing their jobs

[katsy] 07/6/2021 09:26

All the dumping of shares are those being forward sold for the placing at 1.35p. I told you this last week, Today management have confirmed the placing is taking place. There will be an extra 222m shares on the register soon enough.

[megordon] 07/6/2021 09:24

Seems to be someone dumping a load of cheap shares.
Maybe a protest at the blatant greed of the BOD.

[steve4077] 07/6/2021 09:18

The Harry bonus isn't for finance completion. It is for finance completion and receipt of first £20m. Previous RNS have stated completion after June 30 with first funding received in Q4 2021. So for Harry to get this bonus, he has to get the actual finance completed fairly quickly in order to get the actual money by December.

[belfastboyo] 07/6/2021 09:14

I agree with TW and many other shareholders statements here..these bonuses are outrageous given that is what we are paying them very handsomely to do anyway...so I too will vote against ALL resolutions at the AGM...and I may attend in person as well to...and I would encourage others to do the same...it is time to send a powerful "enough is enough" message to the Board/Harry...

[donegal1997] 07/6/2021 09:11

The amount might be insignificant in the long term but I would've hoped for an earlier deadline for the bonus for funds received than 31 December. It just leaves a sour taste with a placing imminent as well.

[luckyabbeygale] 07/6/2021 09:10

I wonder how riotintedspecs is feeling today ?

[rich1e] 07/6/2021 09:10

PP I don't think many will short with possible finance around the corner. I always think that if someone is telling you to sell, then it's because someone, somewhere, wants to buy. Of course the opposite is true, someone saying 10p soon has an eye on offloading to someone else.