Kefi Gold And Copper Share Discussion Threads

[1deedee] 30/6/2021 21:13

this man knows his stuff

[belfastboyo] 30/6/2021 20:46

Well it was encouraging to see that the message I personally sent to Harry and Board (voting against all resolutions) made an impact...of sorts And maybe a few others who joined my resistance movement lol We need to hold him and this BOD accountable to their performance (or rather lack of)...it is deliver or go...as an LTI I am tired of overpromising and under delivering

[donegal1997] 30/6/2021 20:46

Cheers Richie, yeah you could probably figure it out if it is a subsidiary of a Ftse 100 company by filtering it down but you'd have to be mad to go down that rabbit hole.

[estseon] 30/6/2021 20:11

taxloss,

I am in total sympathy and may the torment end soon (positively).

We are fotunate: HAA has to smile at these people.

[estseon] 30/6/2021 19:29

taxloss, I thought that you had turned over a new leaf.

It might have been a condition precedent for Kefi to demonstrate that it could fund itself during the construction period and the AGM resolutions give the directors authority to issue more confetti to enable precisely that.

HAA did not make clear which final government dept clearance was still outstanding but it might have been the mines & petroleum bods. That means that they have the rest including, possibly, that of the central bank.

Our PMs like to do shuffles every now and again especially after general elections. The mining minister might be distracted by politics - he might even get a promotion.

HAA himself has had problems getting out of Australia and back into Ethiopia. Australia is not quite as anal as was NZ but, if the airlines cannot transport inwards passengers there will be precious few flights for outward passengers. It is all political cowardice responding to public hysteria conjured up by political cowardice in the first place. They don't know what the *uck they are doing or why.

For instance, the vaccination programme has slowed because the government does not have the balls to point out that the 1 in 350,000 chance of having a fatal autoimmune response to the AstraZenaca vaccine is one ninth of the chance of getting killed on the UK's roads in a year.

So, with all of this disruption, it is not surprising that the complex financing has slowed. It took 4 months to get online access to my NS&I account FFS.

Sorry for the rant but you have to accept that international travel and administration everywhere is just not working.

[goatherd] 30/6/2021 18:50

I have been playing with some figures given in the report given by the Chairman at the AGM report today.

“The Company's beneficial interest in the in-situ metal content of the three projects is a combined 2.1 million oz in gold equivalent terms. KEFI's market capitalisation is approximately US$27/oz gold-equivalent, compared to a current gold price of approximately US$1,772/oz.”

I am assuming copper price is $8,450 per ton; and $1.38 = £1.

Chipperfrd, who runs several excellent threads on gold and on base metals, tells me that when valuing copper miners they are usually valued at
Inferred resources _ _ _ $112.4
Indicated resources _ _ $224.8
Measured reserves _ _ _ $674.4

2.1m tons gold equivalent priced at $1,772 is worth $3,721.2m
With copper at $8,450 this is the value of 440,378 tons of copper.

440, 378 tons of copper at $8,450 is $49.5m, or £35.8m.

And the current market cap of Kefi is £39.7m. It sounds as if we may bet to reserve level this year; which would multiply £35.8m by 6 to £214.8

[taxlosstone] 30/6/2021 17:20

My name is Harry. I am Mr Big at a company called Kefi Gold & Copper, a would be producer of commodities. I am very confident that full funding will be achieved but to be perfectly frank with you, I do not have a scooby when this will occur. The above would not look very professional but it would certainly be more accurate & honest than his rolling guesses.

[rich1e] 30/6/2021 17:13

Donegal, one of the finance partners is supposedly a ftse 100 company. Significant shareholders there may know of their involvement, a number of key employees will know, whoever Harry has been dealing with etc. We don’t know how many in the ‘city’ have taken the trouble to find out, I’m sure its possible with the right contacts. Yet so far, they’ve managed to keep it from Kefi shareholders, as you say it’s a pity that it’s been held back. Hopefully not long before we find out.

I’m still of the opinion someone was buying at the 2p range, it’s not going to be a Blackrock or a JPM taking a punt, more likely someone closer to the 'coal-face', as they call it in the RNS, with a better appreciation of what was holding things up. It’s a possibility that when Harry has been quoting timescales, he knew the hold ups weren’t insurmountable, and expected them to be cleared. Once again, it’s a pity we weren’t party to more information.

[neally99911] 30/6/2021 13:31

Goatie - the FD said in the annual report they are trying to organise a loan to keep them going until the project funding arrives - we dont know yet if they have arranged it and if so on what terms as far as I'm aware - we should hear soon presumably

[donegal1997] 30/6/2021 13:11

I'd say the major shareholders might know who the finance partners are. It's a pity he wouldn't just communicate that to the market as well.

[whu0319] 30/6/2021 12:36

HAA said by end of the yr....what to eat during next few months?

[goatherd] 30/6/2021 12:33

whu0319,

I think they have lent money to TKGM which will be repaid as part of the TK finance package.

[whu0319] 30/6/2021 12:29

Goatherd: The balance book of Kefi is already zero if not negative if you calculate from the last fund raise of £3m on 16, Nov 2020 with 1m / month spending, what you think they gonna do with zero cash ?!

[keelhauled] 30/6/2021 11:53

Bostanli, you put it very well - "It's coming home".

[rich1e] 30/6/2021 11:51

After today’s RNS’s, Harry must have the green light to start sharing his plans with shareholders, detailing the finance structure and finance partners etc. “We have much to do to reward our shareholders and partners for their confidence, support and patience, for which we are deeply grateful and respectful. And we have much that we can now proceed to do”

[goatherd] 30/6/2021 11:45

whu0319,

Why do you think Harry needs to raise more funds?

[whu0319] 30/6/2021 11:34

If HAA is lucky, we all have 10% dilution for a price way below 1.5p , if nobody wants to buy the share, convertible loan will be alternative , again, if we lucky but a death spiral to much lower to drag it through after rain season! If all failed, we are F...ed as EG will take the licence away as they did gave final warning ! GLA

[robjm66] 30/6/2021 11:30

Turns out Kefi did not really need the AGM to pass anything critical to TK to get it over the line what’s relevant is that the company has widespread backing for final sign off from Ethiopians.

[donegal1997] 30/6/2021 11:07

Cheers Rob, largely irrelevant to the share price as you'd expect.

[donegal1997] 30/6/2021 10:55

I'm not sure in this scenario of a closed AGM are the resolutions put out in an RNS directly after the meeting or at the end of the day. Anyone have an input on this ?

[goatherd] 30/6/2021 10:33

Mick,

Your 14232. No! Even Harry cannot convert copper into gold!

It is simply a calculation of "gold equivalent", widely used in mining.

You divide the "worth" of copper (price * quantity) by the price of gold. The result gives the gold equivalent.