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@crackpot10
A brief glance at the link you posted tells me that:
(1) the Ethiopian govt. didn't go to court against the company in question - they were taken to court by the company in question after being sued, and it's obviously a legal requirement to respond or there would be no justice systems in the world.
(2) they were at least a little scared, as they were desperate to 'achieve financial diplomacy' with the company, which sounds very much to me like basically settling the case out of court for an undisclosed sum.
(3) there was a third point but I'm really tired and have forgotten it.
Legal route? Unfortunately, history tells us that EG is not scared to go to international courts, even against big guns. Different case but same mindset? See
https://www.iarbafrica.com/en/news-list/17-news/960-icl-drops-charge-against-ethiopian-gov%E2%80%99t-at-the-hague
doesnt make sense to revoke the licence when the deal is so far down the road. Why would the EG want to start all over again? that could take years to put a new syndicate together. Most of the issues causing previous delays have only been able to be solved by the government (eg security/permits etc) and totally outside Kefis control and a new syndicate would require the same comfort on security etc as currently required. Probably just some official trying to look like a big man but unlikely to happen in my view
A few points
If the license were taken away - I think highly unlikely because
1.Kefi would sue and probably win given the delays have been solely around the concerns over security/civil unrest - something the EG is responsible for
2. kefi would sue
3. Any 3rd party the license was given to would have exactly the same concerns
4. Even if not they would have to start exploration and development from scratch - they will not have access to Kefis numerous drill results, mine plans that we have developed over the last 8 years or so etc etc - would take at least 18 months to 2 years of intensive work to replicate
5. the contractors Kefi has on board all have stakes in Kefi as they have been given shares over the years as payment for work already done - I cant see tham being too happy with that value going and agreeing to work with 3rd party
Even if that did happen
1. Kefi will sue and most likely win and even if not
2. Saudi assets are worth at least 10 times the current share price irrespective of what happen in Ethiopia so an investment in Kefi is still a multibagger
All IMO
Was that rhetorical reply to myself. If so, can I please ask you to respond back with some clarity as I do not understand your response. Thanks awfully.
The option was Down (by you) or Up, my POSSIBILITY is UP ! Sorry it 'up' you.
@P79u
I know HAA has been absolutely awful at dragging this along and leaving everything to the last second but you're totally right in what you say about the message it sends, especially after the Ethiopian MoM reduced the deadline by a week when so close to the original deadline. That's bound to cause disruption and confusion regardless of management team or readiness.
It reminds me of that scene in The Simpson where Homer owes the mafia money and Fat Tony says: "You have 24 hours to give us the money... And to show you we're serious... You have 12 hours..."
If foreign companies invest millions as Kefi has already done and abide by the rules and then have licences revoked.What message would that send out to future inward investment?
Which company would risk their monies on the off chance that they might be sent packing?
The biggest loser apart from possible legal challenges would be Ethiopia imho
This Umbrella agreement is a binding contract to proceed with the funding and you only feel it is a 'possibility' that the sp might take-off'? '. Are you winding me up?
I don't think the TK outcome would adversely affect the KSA business either, not least because the Saudis would regard it as just typical of Ethiopia. Not a lot of love lost there.
TST, There is a possibility the SP might take-off after the Umbrella Agreement signature, on 30thJun'22. Let us see, as per the 0.8p agreement signed in April, the SP is reqd to be at 2.4p for 5 days to be allowed to sold (the 0.8p shares). This might be the first time shareholders have been taken care by HAA, additionally there is a possibility we might get a good news from Saudi too on 30thJun.
clue is in the name, secret trader, hmmmm... whats the point of the scare mongering then lol
No scare or fake stories today and still we are down!
It is not the only valuable asset
It's a legitimate question for the AGM. Without TK there's no Kefi. Simple as that. Why even hold an AGM without any real license to call an asset? An asset that you control and one you can produce gold from?
What is KEFI's strategy to protect shareholders' interest?
What should it be?
Any suggestions?