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HtTps://www.capitalethiopia.com/2023/09/25/kenticha-site-ushers-in-lithium-processing-plant/ (Ethiopia mining)
htTps://www.zawya.com/en/markets/equities/saudis-united-mining-industries-sets-price-range-for-ipo-l9es4602 (saudi mining IPOs)
htTps://www.ugc.com.sa/ (Saudi mining IPOs) Should be interesting to see how successful the IPO is.
htTps://english.aawsat.com/business/4562946-chinese-investors-briefed-industrial-mining-investment-opportunities-saudi-arabia (Saudi mining)
htTps://www.zerohedge.com/markets/new-era-gold-estimated-world-official-gold-holdings-reach-record-high (gold)
htTps://www.zawya.com/en/economy/gcc/saudi-arabia-economy-joins-trillion-dollar-club-yxcitm0z (Saudi general)
Yep traditionally Harry gives his mates a mates rate. For instance RAB capital got in at 0.6 when they bunged Kefi £3m. This new advisory company will no doubt be some hangers on who need a brown envelope. Best way to keep them happy is to give them 8m shares at mates rates. Considering there are going to be trillions of shares after the next fundraiser, whenever it is, the 8m shares are considered a small value for such a procurement.
Those diamond drill bits have to be paid for in cash and Harry goes through dozens of them while assessing if he has any gold beneath his feet.
Hi all , could some one please explain to me how a company can undertake a placing at .70 and then offload such a % of shares at 10 -15% below that price . Is it balanced in with the projected/ perceived value of the resulting share value after the company is recapitalised?
Https://investingstrategy.co.uk/mining/gold/kefi-shares-investor-overview-for-q4-2023/
Now that IS cobblers.
The implication (and to a certain extent, paranoia) attached to these sort of observations, is that someone knows more than you, and that they are selling for a very good reason. Generally, I don't believe that is the case. There are many reasons why someone would buy, or sell, a certain quantity at a certain juncture, and very few of those reasons are truely related to the stock itself. In addition, 19k is a lot of money to some, but not a lot to others, and so you cannot say whether a trade of that size is particularly significant to the owner. When it comes to this stock in particular, there are, as we all know, many reasons to be cautious, or even suspicious, and so that some choose to sell is hardly shocking. The vast majority of the market are mugs who (like Jon Snow), know nothing. Insider trading must happen I'm sure, but is illegal and carries severe penalties. Finally, I haven't toted it up myself, but you say 11m are sell. Well, big deal. Not to brag or anything, but that's less than my holding. Wake me up when a few hundred million are sold at once - that may indicate something amiss! Until then, keep calm and wait for news (which I presonally belive won't be long and will be positive), IMHO, DYOR etc...
Don't worry Tms. Observations on the trading pattern are "cobblers" according to Rob, the font of all relevant knowledge via several generic Google news alerts.
So if this is going to multibag on imminent news, just why is there such a huge overhang and a stampede of sellers around the last placing price?
Answers on a postcard to Jeff Keating, SP Angel.
No. But when you look at the overall volume today and over 11 million are sells then it tells a different story.
Maybe someone sweating as there's a little trouble in amhara region but now under control by military
Given that my buy today is reported as a sell, I don't even know how you can be certain what it is! Either way, to me this feels like some calm before a very positive storm!
I don't believe a 19k sell is significant...
I'm hoping for an update by the end of September i.e. the end of this week!
When the volume is ten times or more what it is today somebody might know something.
Not going to lose any sleep over a £20k trade.
Does somebody know something that we don't with the selling today?
Nearly 3 million in one lump, does not instill confidence as we move forward.
Question answered before basically it now will not be needed as deal going to be fully funded. As for giving shareholders a general say to save time hands up those who do not want TK to get funded and a mine built (apart from TCM).
https://www.investormeetcompany.com/investor/meeting/post-agm-investor-presentation-6
Q19: There was mention of an EGM to allow shareholders to vote on various parts of the financing in June – when is this now expected?
https://www.kefi-goldandcopper.com/files/announcements/kefi-ethiopia-operational-update-5sep23.pdf
Over the past month, details of the US$390 million development funding have been further refined within the finance syndicate, all members of which are active in the region and plan to inject funds at the subsidiary level..
As for all the cobblers about trading patterns no floods of buying or selling even the rise up to around .7 over September was not on massive trading volume but a small amount of trading moving the price suggests when we do get large volume the SP will move a lot.
No, that's not really what I was referring to.
What I meant by 'the trading pattern' was each time any thin volume buying takes this to 0.7, the buys are swamped by sells. There is clearly a significant overhang at the last placing price.
You wouldn't expect that in a stock that was about to rise significantly, the last placees would be content to hold until the pop and sell at the new level once the price had settled at its post newsflow level.
There are other explanations for the patterns we've seen on a spectrum from 'unlikely' to 'totally for fetched', but none of them are at all positive for the price medium term.
As ever, time will tell who is reading this right.
It's a debate, not a fight ;-)
My point is that there was going to be an EGM and that the company needed to give 28 days notice of this. Now, whether it was on a past webinar that this has been officially changed and an EGM is not now required or it may have been on here that someone may have brought up. In the last Webinar that Harry had, he did not bring this to our attention.
I'm not interested in a fight, but you said "this has now been changed" (albeit with 3 questions marks, so perhaps that's where the miscommunication lies!).
Anyhow, why "must" there be some meeting? There may be, but we don't get to have a say in every single decision HAA makes, so no reason why we "must" have a say in this either.
What exactly do you think would happen if somehow Kefi shareholders voted down the deal that was on the table, that has been thrashed out over many painful months, if not years, by several significant stakeholders, including national banks? I'll tell you one thing, it wouldn't be good for the SP...
I don't know whether or not having an EGM has been changed, I was merely asking. Surely, there must be some meeting I would get guess, for shareholders to vote for or against what they are proposing as the only ones that we aware of is the EG, major shareholders and the Banks.
Are we going to be shafted again?!
I recall similar. There has been no official notification that this has changed yet, unless you've seen something I haven't?
That said, I didn't expect to have a meaningful say in anything anyway. The deal is the deal, and if I was HAA, I wouldn't take the risk of uppity Kefi shareholders screwing the whole thing over at the last minute unless I had to.
The reality is, as a small PI, your choices are limited to buy, hold or sell. Even if asked, it's not usually worth the effort to swim against the current.
I seem to recall from one of the past Webinars, that first there was going to be an EGM called but this has now been changed???
So what involvement do us shareholders have in having a say over what will be agreed, if any.
The sp is starting on a downward as we have seen this week.. if that is what you arwe referring to? Yes, the longer it takes for material news to come out... the further the descent. Having said that, the positives to come over the weeks or so, with the added bonus of milestones being hit, should send the sp upwards.
Plenty to suggest different. The trading pattern being the most obvious thing.
Nothing to suggest anything different at this juncture. Praying that this Credit Finance is concluded by the end of October and not dragging into November due to no 'real' clarity given on this as it is down to the Banks etc.