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NickE, agree completely, a very sensible post
like a pantomime on here... "oh yes they will"...
is ha the villain, or widow t****y? :)
of course there's lots of possibilities for what "might" happen, but the direction of travel has been positive since last year, with some clearly explained reasons for delays.
this project could never have got off the ground without the capital controls being waived.
security has been addressed time and again. it is not security holding anything up.
government has approved
lead bank has approved
some of rest of syndicate has approved
second bank is in approval process following the first, expected within weeks - the last indication in my previous message from march "next month"... which is now... maybe not april, but news within weeks.
not a lot else to discuss - other than - 'how many shares do you own' and 'what price did you pay'....
not saying this can't go pear shaped - that's always a possibility.
but this is progressing + the rest is noise....
Probably explains why the MMs reduced the bid yesterday to 0.534p. Bid and ask have moved higher this morning...
Its perfectly understandable if you have a large position that needs protecting or if you want to buy more shares at a cheaper price when you know others will become impatient.
FU its from yesterday when the price was lower and shown as another unknown trade.
It does seem we have shorters at play here :-(
Not what we wanted at this key time.
Short closing. I expect news imminent. Positive sign.
32,5000,000 sell just popped up.
Does not do much for investor confidence?!
The decision making structure could be constituted as follows:
„ General Meeting: The ultimate decision making body of the Bank comprising representatives of the different shareholders involved.
Board of Directors: The second level of governance responsible for overseeing the conduct of the Banks management and championing the realisation of its corporate goals. The Board shall perform some of its roles through the following committees:
– Executive Committee;
– Credit /Investment Committee;
– Audit and Compliance Committee; and
– Risk Management Committee.
„ Management Team: Responsible for co-ordinating the day-to-day activities of the Bank and ensuring the realisation of their overall business and strategic goals. The Banks team shall comprise the Managing Director/ Chief Executive Officer and other executive management staff.
When you take that into account, we are where we are.
Nicked, no i have just been thinking reality is kicking in here, i am still a bull for Kefi but doubts over harry,s abilty are now front and foremost in my mind. I have given harry the benefit of the doubt for many years now but my patience is wearing thin now. By the way i do not trade shares like this,i have a long term investment here that is now just barely a few k,s in profit but i will not sell at this low level. The only thing that would genuinely cheer me up here would be a big top up at sub 0.40p to be honest,just to reward my longevity here if nothing else.
Fivecandles, from posting about an imminent takeover at 3 or 4p it's now down and gloom. For the last two weeks or so you have sounded like someone who had a short-term trade or spread bet and needed a takeover within a two-week timeframe before possible forced closure. Sorry if that's that's the case and you have had to close but the bi-polar posts are transparent.
It is frustrating but I am sure the patient will be rewarded and TK will get funding. As HAA pointed out the banks stayed with the project throughout the civil war and if they did that in the very worst of times they are not going to back out now with relative peace, a liberalising of the economy, prospects of an IMF loan being sorted this month and an increasingly strong gold price. And yes, there is the prospect of a takeover as well but not until TK funding is sorted..
Yes, the second bank is being annoyingly slow. HAA referred in the recent Investor Meet presentation to an agreement with the Ethiopian Govt to provide permanent security around TK even though it is not a red zone. He said they have found a solution to the issue in response to the banks' preferences. He also added he was being "very frank as it is a sensitive topic and you'll hear about it (the revised security arrangements) very soon. " If finalising this development is the reason for the delay, and there is a good chance it is, then approval from the second bank shouldn't be far away and Kefi's share price will start to reflect the NPV more accurately.
HAA mentioned before that normally pre- production companies trade at an average of 44% of NPV. That would put Kef around 3p and a fair bit more once they get the feasibility study done for the Saudi resources and obviously after TK funding is over the line. I don't expect a jump to 3p immediately on funding news but after trading settles down I think it will head there in the coming months and the prospect of a takeover will also drive the price along with the backdrop of the gold price. In short, the patient should be rewarded.
I think TW for all the support he has offered to Kefi, should use this to oust HAA if he fails again in Jun-24
Going on the past voting results at previous agm's....slim and no f'kin chance!
5candles - I understand.
How many shareholders will support to oust HAA? That is if HAA doesn't get the finance sorted by 30-Jun-24? You have my support if we have enough shareholders to bring this motion :)
Dv, i also see that happening too,i am very nervous that something is going to be announced we do not expect and it not good,it would be final straw for Harry in my opinion. Trust has to be key for a company like this,even the Nomad must be spittting feathers at moment. All imvho
Shorters are busy.
Sp going below 0.50.
Takeover on the cards.
Get 'Arry out.
All the adults seem to have bailed.
Sadly I can see further delays across our assets and a SP below 0.5p in a couple of weeks time in the absence of any news. Harry is playing a blinder lol
So far we have been led to believe that Saudi is a world class asset,but if harry is with-holding bad news on latest results i will not forgive that ! And that would be the final straw in his tenure at Kefi in my opinion,we would not be able to continue with someone at the helm who is totally un-trustworthy.
I am now getting nervous,and i hope this latest short attack is not connected to that scenario
Something seriously wrong.
Gold over $2300 and the banks are working at a snails pace.
Maybe the Ethiopian government wants the gold for itself.
Plenty of corruption etc in all the African countries anything possible here.
Harry still getting his vast earnings so at least someone happy.
I cannot argue against that Fantasy to be honest, one step forward and two back has been the way here for as long as i can recall. And harry is on thin ice with shareholders for sure,i have defended him in the past suggesting he was doing best in difficult situation but now i am leaning towards replacing him with a high profile CEO with good track record,if nothing else it will regain some market confidence at a time when we sure need it.
Harry Out !
5candles - I don't think HAA will give us a shot in the arm. He is only capable of pulling the rug from under the feet. :) GL
DV, yes we are late on that update ,and maybe why we are dropping now to test lower support levels., shorters do not need much encouragement to do their thing with Kefi IMVHO
Come on Arry give us a shot in the arm !
DVH - that RNS was for getting the placement out of the way. Now placement done, take your sweet time.. :)
Https://www.kefi-goldandcopper.com/files/announcements/kefi-renewal-of-jibal-qutman_-exploration-licence-17oct22.pdf
“is pleased to announce the renewal of the Jibal Qutman Exploration Licence (K/144) in Saudi Arabia.
“The re-issuance of the Jibal Qutman exploration licence
‘Jibal Qutman’ Exploration Licence (EL K/144) has been renewed on a 5-year term covering 99.68Km2.
This licence gives the company access to a 270Km2 ‘Jibal Qutman Exploration Area’ which also consists of the recently issued ‘Jibal Qutman North’ and ‘Jibal Qutman Southeast’ exploration licences, covering a significant portion of the highly prospective ‘Nabitah-Tathlith’ gold belt
(see Figure 1 in the appendix below).
From what i see kefi should be able to put in a claim for any work done in JQ north and south East the central area I don’t know depends what Is meant be re-issuance and renewal.
One difference is gold now listed as one of the minerals (see previous links for details) maybe they are suggesting that JQ does not qualify might depend on whether in the fine print. Does the licence count as belonging to kefi from when it was originally given or when kefi effectively got it back which covered a bigger area than originally.