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TW put the situation a lot more eloquently detailed manner than i've written and in his view the courts would be the best option,since without having to do any work Kefi would benefit money wise.
This would take years to get resolved in court
Yesterday's TW bearcast Harry said he is very confident Umbrella Agreement will be signed before 30th June.
TW's opinion if licence still revoked Kefi would be able to resort to suing EG through the "International Courts" for what TK would worth. NPV of TK is many hundreds of millions of $'s.In Internal arbitration EG wouldn't be able wriggle out if Kefi had provided what was required of them.(Fox Marble are already using the courts in their dispute in Kosovo). dyor
Company fully expected to have the Umbrella agreement signed by then so the timing made sense as company's like to have AGM where they can present some good news at the same time.
very strange timing given the current contract situation
AGM this Thursday should be interesting.
https://www.kefi-minerals.com/files/announcements/kefi-agm-notice-of-meeting-and-proxy-form-6june22.pdf
There are a few LTHers (not many I suspect now) who have been saying that for years and are still waiting. Lol.
Mafs, I make you right. There's the potential for lots of money to be made here.
Forest, you're right it could well go south over some technicality or other issue, its risky that is true, what reduces it slightly is our Saudi assets which can easily dwarf the Tulu Mine.
That would then shift my investment to a very long term one, which I guess I'm ok with but many aren't.
Being a first mover in Saudi is important and the kingdom would want a good image for future investor confidence in that region, thus moving away from oil and gas and tourism to mining and metals.
All this of course is in the distant future, but TK is very important indeed to be able to fund future Saudi progress without running to dilute shareholders.
Harry and team have said June for months now, so there's no excuse to miss the deadline!
GLA
Mafs. Not that I want to put a downer on my investment but IMO there is a good chance that KEFI will go the same way as AMC, EUA, POG, et al, and become another casualty of the Ukranian war which is, IMO, purposely shifting what remains if global mining resources China's way. I have very serious doubts about whose side Old Man Biden is on.
ATB, FG
Everyone, this isn't the case of Harry and Kefi being silent in response to the ministry of mines.l which we've witnessed from many companies pre covid, pre-war etc
We are not really waiting for Kefi to respond, they pretty much did that yesterday and gave us the green light that everything is on track!
So now, what we have is:
Harry and the bod and all their shares (they do have skin in the game) and their their words in the RNS that everything's on track coupled with RNS policies and FCA rules which he is bound by regarding lying etc on one side of the balance
VERSUS
The historical doubt people have in him, the lack of trust from his past actions, also the numerous failed promises in the past and the ministry of mines giving him a dead line.
Whats different here?
Here the biggest difference which pushes me to accept Harry's response is because it is a ultimatum e.g. a make or break which includes his shares which is hundreds and thousands of pounds possible loss.
Therefore, there is MORE PERSONAL BENEFIT for Harry to deliver what is needed by this month, cos he will be at a severe loss with TKGM.
Furthermore, he has remained consistent throughout about delivering and didnt cite covid or morning traffic as an excuse.
Like I believe, he's failed many times and only after so many times will he actually get it right.
Nows the time he will AIMHO
GLA