Kefi Gold And Copper Share Discussion Threads

[howling] 09/6/2021 07:21

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Good Man Harry!
Thank you for all your hard work!
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Ps supersuit coming soon
Edna and I are very pleased
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[shortarm] 09/6/2021 07:18

There ya go ladies :-P

[bostanli] 09/6/2021 07:17

Brilliant piece of diplomacy, let’s get back over 2p

[monster500] 09/6/2021 07:16

Just another management well played c0n to suck investment in.

[deanroberthunt] 09/6/2021 07:09

Shareholder activism at it's finest....

[toyin] 09/6/2021 07:07

Well done to TW and Harry for listening.

[deanroberthunt] 09/6/2021 07:05

I'm SO amazed, I may even have a punt now after the placing is announced, I'm quite shocked, need to go for a lay down...or have a stiff drink.

[deanroberthunt] 09/6/2021 07:03

Well knock me over with a feather, seems they've had a change of heart, or more likely, TW's influence is significant.....

[exiledweegie] 08/6/2021 22:54

Interesting opinion piece in FT about whether we're entering a copper supercycle:

(Paywall, sorry!)

P.S. Please let's not lose sight of the big picture and vote against TK funding package in response to Harry's distasteful display of greed with these bonuses.

[neilng] 08/6/2021 18:50

Thanks estseon I will download the full accounts.

[bluesbeater] 08/6/2021 17:19

Could we propose a special bonus for long term shareholders at an EGM? I feel we've earned it too. 😅
Yep, I've been here since noyota. Well, you get a cuppa tea at the end of the AGM, biscuits too and a handshake from Harry.
Seriously, I think the market will wake up soon to just how significant these assets are and how much potential value is to be had. It's HUGE. I topped up again at 1.83p
Looking forward to full funding and a rerate. Still a long bumpy ride ahead but three or four more years will see a massive return IMHO,DYOR.

[scrappycat] 08/6/2021 16:25

belfast,

I totally accept the strength of your feelings, but exactly what purpose do you think would be served by not voting for, or voting against the Board's funding proposal (hopefully fully resolved by then), All it serves, is to vent your wrath it seems to me. If you, and others feel that strongly, you and they can always try to force an EGM after the AGM. Greed it may be by your standards, but do not let that overcome your common sense.

[mick1909] 08/6/2021 16:03

Youve changed your tune bought in now?

[delta0091] 08/6/2021 15:47

the enterprise value of this company will already much more than $300m if it secures the debt financing.. and that's even before issuing any more shares.

[estseon] 08/6/2021 15:01

neiling,

the formatting goes to pot - it is best if investors just download the 2020 report and account. The report was signed on 4th June so the funding detail is up-to-date. It will have been scrutised by the auditors.

The funding should leave some cash in KME available for funding exploration.

There is a direct loan from Kefi to TKGM of £2.6m as at 31/12/20 noted in note 15 (a fraction of the money sent down the tube) and it might be assumed that it might be repaid (together with 2021 money loaned).

There is also £3.6m due from KME to Kefi (net of FX loss) - there is the possibility that it might be retained to fund exploration - the note suggests that this might happen. It would be misleading if any of these loans have since been capitalised (audit sign-off 4 June).

[slsastin] 08/6/2021 14:38

Looking ahead to the post-AGM fundraise...
We've been alerted to it for a while now. We're told it will
a) fund Saudi activities for at least 12 months, including our 30% of PFS and more drilling,
b) needs to pay back bridging loans keeping the lights on,
c) completes the funding package for TK. I guess $11m+ to get over $320 target.
At a similar stage for EMED/ATYM there was a rights issue which set up the company for production and rewarded us shareholders since then.
Any thoughts from you wise lths on the fund raise amount, and would you welcome a rights issue?

[slsastin] 08/6/2021 14:23

Objectors to the bonuses could vote against the reappointment of 'supine' NEDs. Best to tell them first so they understand.
I'll be voting for all resolutions.
Happy with the progress reported over last few months. TK is going to happen.

[neilng] 08/6/2021 14:18

EstseonI continue to read your analysis of the facts and followed your advice to read the Finance Directors report in great detail.It should be published on here since I assume it will have been audited.

[robjm66] 08/6/2021 14:08

People could think outside the box and set up a go fund me page for impoverished kefi directors probably more chance of that working and the bonus scheme being dropped due to the embarrassment factor than voting against resolutions.

[estseon] 08/6/2021 13:44

Belfast,

1. Accept the 2020 accounts
2. Re-appont Norman Ling (not a beneficiary)
3. Re-appoint Adam Taylor (not a beneficiary)
4. Re-appoint the auditors
5. Pay the auditors

None of those is the slightest controversial

6 & 7. Empower the directors to raise cash by the issue of up to 10% of the current issued share capital

There will need money to 1) maintain the company's interest in the JV with ARTAR; 2) repay cash loans from supporters of the company that have been funding things whilst the funding is sorted out; 3) anythig else including head office overhead.

You would be doing other shareholders a disservice by predjudicing the company's ability to fund the accelerated programme in the KSA. HAA says that they have started work on the feasibility study including doing metallergy recovery tests.

You could make your feelings known at the AGM.

I'm pretty fed-up with it all too. However, we appear to be on the cusp of finally having a development project and we, and our kids, will profit from that provided that the funding is concluded, which the company is now very confident of achieving. Even TW has set down a marker of 4 x current price.

[scrappycat] 08/6/2021 13:20

belfast,

You obviously feel strongly about this, and that I can understand why. However, imo, the sensible action by you would be to vote for the funding package, and then pursue gathering sufficient support for an EGM to challenge the bonus awards. That is your right, irrespective of the Board's pronouncement. For your purposes (and most here), an EGM surely fits the bill much better than voting down the funding package. This has taken quite long enough without further complications.

P.S. Just to make things clear, I do not object to the bonus award. IMO, he has had a rough ride, largely due to circumstances beyond his control. .