Kefi Gold And Copper Share Discussion Threads

[scrappycat] 07/6/2021 14:51

I see the trolls have arrived back in some number. They obviously think the share price will rise significantly.

That should raise some protestations from them, like a red rag to a bull : O ))

[sussexlibran1] 07/6/2021 14:30

@whu0319 - many thanks, I have seen that - but I didn't think it acknowledged that they had, in fact, received a warning in the past. I will read again later when I have more time. Thanks.

[sussexlibran1] 07/6/2021 14:27

@hairyback2 - I agree. I've been in since 2012 - my son was born late 2011 and it seems an eternity ago. But I do understand people jacking it in even now - I am pretty sure Harry has instilled mental illness on many with his deceit and promises over the years, and selling out would alleviate that stress. This latest news of huge million-dollar bonuses nauseates me, but I will hang in for now. @unionhall - all the best.

[topicel] 07/6/2021 13:05

All - any views on these terms from a gig economy job finding and booking suitable holidays for pet owners? In particular 2.9 and 2.10?

2.7 That Contractor is self employed and will take steps consistent with retaining such status during the term of this agreement, including the filing of proper accounts.

2.8 The Contractor is not entitled to any paid leave of absence for reasons of sickness, injury or holiday or for any other reason from the Company. The Contractor is not entitled to any of the statutory rights extended to an employee as defined by Section 230 of the Employment Rights Act 1996.

2.9 The Contractor agrees, undertakes, represents and warrants to indemnify the Company, its associated Companies and their directors, employees and customers against all liabilities, claims, demands, actions, costs (including reasonable legal expenses on solicitor and own customer basis) damages and loss arising from any breach by the Contractor of any terms on this agreement, but only in so far as such allegation is proven.

2.10 In the event of any claim, dispute, action, writ or summons issued or threatened which may give rise to a claim under clause 2.9 above, The Contractor agrees that The Company shall have the right at its own cost and expense to participate in the defence of any such action giving rise to such claim and to be represented by counsel of its own selection


No. 1 daughter (who will be the contractor) lost her job pandemic-wise last July in travel business and has been sent a long, long contract which makes her self-employed and on commission. I would run a mile when I read the items 2.9 and 2.10, but maybe someone could interpret it as being more benign than a 'pass the buck' clause, Uber-style.

TIA

Topicel

[deanroberthunt] 07/6/2021 13:04

couldn't Harry just turn up with a shovel and a sieve to reduce costs ? and show some willing ?

[scrappycat] 07/6/2021 12:58

Katsy,

There are a fair number of local employees to be paid, and they are also obliged to cover resettlement costs for a start. Much infra structure work remains to be done (e.g. on power generation), and this will involve some relocation and associated costs to be met by Kefi.

[robjm66] 07/6/2021 12:50

Thanks Estseon "The convertible loan will convert well after commencement of production. The operator's deferred charges will convert after commencement of commissioning of the mine at the earliest. The share price will be at a very different level when those issues take place."

Think that kind of positive can kicking has been missed by the market and most shareholders.

[deanroberthunt] 07/6/2021 12:49

It might be worth a trade when it falls below the placing price, could get some for a quick buck below 1p

[robjm66] 07/6/2021 12:48

Sorry to see you go Unionhall. Hope you lurk so when TK does get over the line you can get back in and make some dosh.

[estseon] 07/6/2021 12:45

The deal is all but done. They are tying down the contract pricing for the procurements for the construction etc. The convertible loan will convert well after commencment of production. The operator's deferred charges will convert after commencement of commissioning of the mine at the earliest. The share price will be at a very different level when those issues take place. The central bank probably needs to see the final figures to sign off yet again. There do not seem to be any loose ends despite some uncertainty over the costings, possibly because they need the contracts signed to go firm on the final mine cost figure. The funding structure does at last make some sense.

[deanroberthunt] 07/6/2021 12:42

@Katsy

Mr Endless Jam Tomorrow's biggest task over the last 15 years has been to organise placings...

[deanroberthunt] 07/6/2021 12:37

even the big Miner FRES is a better bet at £858/share than this pos

[deanroberthunt] 07/6/2021 12:36

@goatherd

how long have you been here, waiting...for what, nothing...

[sussexlibran1] 07/6/2021 12:34

@whu0319 - regarding your point 4 - I must have missed that! Can you kindly direct me to this in the RNS? I'll email the company if it has been admitted that they did receive a warning without RNSing it.

[goatherd] 07/6/2021 12:33

Unionhall has been rather selective in his quotation about further funding.

The quotation came from a paragraph in the auditors report, the full paragraph is

"As at the date of approval of the financial statements, the Group will require some further bridging short-term financing to fund activities until financial close. The Company has arranged funding facility options that it is able to drawdown and use when funding is considered necessary during this period. The Company has used this type of funding in the past successfully. The Company and Group are managing payables through continuing negotiation with its management and its suppliers, with the support of its Corporate Broker whilst it focuses on completing the project financing at Tulu Kapi. The forecasts show that the Group will require further funding before the end of June 2021 in order to fund working capital and other obligations. The ability of the Company and Group to continue as a going concern is dependent upon its ability to continue to raise adequate financing from lenders, shareholders and other investors to meet its funding requirements and to successfully continue to maintain informal extended settlement agreements with its management and suppliers until such funding is available . Financing will also be required to continue the development of the Tulu Kapi Gold Project through to production."

So it looks to me as if this funding is NOT to be by way of issuing shares; hence no more dilution; at the moment, anyway.

[scrappycat] 07/6/2021 12:33

unionhall,

Thank you for your good wishes for those who continue to believe it will all come good in the end Good luck with your investment choices. Bye.

[unionhall] 07/6/2021 12:15

I have sold out this morning.

Life is too short to spend any more of it reading about cans being kicked down the road.

Apart from the absolute inability of Harry/Kefi to produce anything resembling honest communication the three main reasons are :


1/ Imminent fundraise
" The forecasts show that the Group will require further funding before the end of June 2021 in order to fund working capital and other obligations...."



2/ $59m of share issue to overhang the share price for two/three years after financing - whenever that might be.

" $14m Mining contractor charges, convertible into KEFI shares at the price in 2 years
$45m Subordinated loan in subsidiary, convertible into KEFI shares at the price in 3 years"


3/ My last shred of hope that "this time it will be different" has been well and truly stamped on.


I wish all holders well in whatever way you choose to proceed.

[donegal1997] 07/6/2021 12:14

So if the placing can't wait until after the Funding is secured after the AGM, why would it state that It will be after the funding announcement in the RNS ?

[rich1e] 07/6/2021 12:11

Is he future proofing his salary?