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Totally agree smelly and further down the line i think reliance on so much debt at finance level could also cause problems... Perhaps a lot that were bullish realised that all along as quite a few bailed last week at first sign of weakness and got jittery. Having said that with full financing secured it will be like a pressure release after so long waiting and if comes before fundraise i would be flabbergasted if we did not hit 3.88p minimum and not surprised at 5p.. Funding of £5m would be a piece of cake at kefi level and beleive people be falling over themselves to invest at higher share price than current if that happens... BUT if harry is true to form it will be fundraise first and we have already said what we think in that regard investors will have to invest with uncertainty of will we wont we get full financing so Harry will have messed up for Pi again and that will be at large discount. 1.35p in my view.
PE - even if Harry does it and raises finance with both the off take finance and the banks and the signs are not looking at the language of the last RNS - there are still massive obstacles to climb Over the next couple of years to actually get any gold in a difficult political environment - many people here are counting chickens, selling their eggs and setting up distribution centres methinks !!!
Harry did say cash sufficient to 4th quarter which in my book means to 30th september. No news this week will be good news in my view. WHY? well i do not see an RNS re full finance this week ... But a fundraise at 1.35p is a possibility if we are following what harry say at last fundraise and the ole 1,2,3 routine mentioned before... If we can last the cash another month and Harry pulls the rabbit out the hat of full financing before fundraise then it will be BOOM TIME..
If no news Bulls targeting 3p to the bull side this week anticipation of full financing and 3.85-5p range October Or will it be a fun week for the bears and a harry fundraise at 1.35p my prediction 1.1-1.3 smelly...
WE are nearing the end of the month and we should expect some news update anywhere between next week onwards for probably 2-3 weeks. We could well get some exciting news next week but we will see. I did think the reason for putting out 2 RNS in a single day, that is quite unusual was to give a bit of space to the next news. Have a good weekend.
Kefi Gold and Copper (KEFI) has announced half-year results, but also more significantly “Hawiah Preliminary Economic Assessment”. The results showed cash at 30th June of £2.1 million, with administration expenses coming in at £1.6 million, and Hawiah is a project in Saudi Arabia with Kefi the operating partner of a joint-venture in which it owns 34% and it emphasises the preliminary assessment… …“confirms Hawiah is a high priority project, with a significant maiden resource of 19.3Mt at 1.9% copper equivalent in-situ (0.9% copper, 0.8% zinc, 0.6g/t gold, 10.3g/t silver), after only seven months of initial drilling; the maiden resource alone potentially supports a production rate of 2 million tonnes per annum for seven years for net operating cash flow of c.$70 million p.a. at current metal prices. After initial and sustaining capital expenditure of c.$222 million and c.$46 million respectively, this would indicate an estimated net cash surplus of over $200 million before financing costs and tax; and clear potential for expansion of resources with further drilling below the currently drilled depth of 350 metres of this structurally consistent tabular structure. A doubling of the resource with material of similar characteristics as the maiden resource would indicate an estimated net cash surplus of over $500 million before financing costs and tax.”
There is now a work programme for further exploration and development, with further drilling to commence in the next quarter but at a 1.865p share price, the Kefi market cap is below £35 million. That is also with the Tulu Kapi gold project in Ethiopia, where “the focus remains on continuing offsite development activities, the closing of the full project funding package in October 2020, resettlement commencing in Q4 2020, site construction in early 2021 and for gold production to commence in 2022” – we previously noting at $1,400 and $1,700 gold respectively and an 8% discount rate, the company notes attributable Tulu Kapi NPV’s of $105 million (£85 million) and $180 million (£152 million).
As such the current valuation is crackers. At up to 2.5p, still a strong buy with a target of 4.5p. (Hotstockrockets).
Thanks for the wishes, I think both can and should do well it's mainly management of my portfolio driving it. EUZ is (now) zinc and lead and a little bit of silver by the way, I'm not a fan of iron either.
If we follow historical harry your sell will prove excellent uk... If Harry pulls the rabbit out of the hat full financing before then I think we will be 3.8p minimum within blink of an eye hence my little punt here... The rest will be determined by how euz does against kefi... I was in them when called ferrum crescent. Looks lowly priced but as an asset i favour gold over iron whether ftse rises or falls right now.. Good luck! well done on part 125% profit too here...
The thing Kefi has on its side is something like TK is a very viable project at 1700, 1900, 2100 gold etc. Someone may buy Horizonte for strategic value but in terms of NPV I think it's £1.4bn at 16400 nickel, at todays levels (14200) it's probably £300m or so. Still decent, but huge swings.
The markets, I can see them looking through Covid to a good spring etc soon, my main concern is the charts look worrying, FTSE testing this 5800 level for a 3rd time for instance, but maybe I'm being too cautious.
Yep, macro economics do worry me atm. Moved 25% into cash to see how things develop with the virus, end of furlough and a brexit trade deal. Kefi still seems to have more upside at this price so happy to hold (and add on any weakness like we experienced after the last 2 positive RNS's!)
Hi :) I've been balancing up position sizes a little, still got a holding in Kefi but given Europa Metals fell so sharply I moved some in there yesterday (selling some Kefi at similar prices to today), not sure if it's a good idea but it had 50% upside to the placing of a few weeks ago and the asset was valued at 1.5m so I felt compelled to act. I sold HZM entirely at around 7p and trimmed some Solgold, though that was to fund my latest Orm purchase (at a price where it had 50% upside to cash).
Not a reflection on Kefi specifically, both that and EUZ had fallen a similar amount. My only outlier thought is that with markets weakening there's a bit more risk to anything with funding not in the bank. I think it should be fine and as I said the other day it looks from the AR notes like Kefi will get funding, just if the FTSE falls to 5000 or something that may change, is all.
No Investor that wasn't meant for you - its for Goldboy et all who made the bet - you as always have been sensible and moderate and respectful of all opinions (apart from obvious lies/ramping etc) - as they have not replied I guess their pocket money doesnt cover that LOL
Another day when we have more buys than sells reported and price falls due to backroom shenanigans? Every day is a step closer however to TK finance news. Its odd how when gold rises it barely matters to Kefi share price but when it falls we feel it. Anyway looks like gold is $1864 and rising but anything over $1700 supports a very large multiple of todays market cap.