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it's africa so, in the least racist way possible, yes it's corrupt, but it's actually pretty good vs other African countries:
https://www.transparency.org/en/cpi
manu the joke is YET AGAIN HARRY set investors up with a claim the Ethiopian Government were going to step in a add equity investment by end of the quarter!
Well guess what they havnt…………. they might BUT might aint good enough the blokes a liar! SIMPLE AS
His been lying for years your spot on I called him loads of times wishy washy excuses and bull! You could detect the anger in his voice when questioned.
With gold where it is its a joke this isnt already fully funded and done and dusted.
FACT the really smart boys don't trust Ethiopia and for good reason. Google Ethiopia corruption countless tales of corruption.
Throw Harry and chums in the mix OMG :0
I BET THE AUDITORS were like WTF!!!!!
Well done top, nobody should stay in a share where there`s doubt along with bullshi-.
The whole market is soon to hit the fan IMO.
Good look PI`s
He's invested in deramping it :D To be fair, taken in isolation, not much to inspire in today's release, but also not really anything new.
tintin so by your admission you pump stocks your in just to mislead ......……..... just like the boiler room scammer that you are eh
you persistently deramped a share you were invested in? What a tw*t
They're keeping "Kefi" so it's hardly like they're trying to hide themselves (maybe they should given record I agree!)
We are going to get another RNS either tomorrow or next day I expect updating us on the ANS situation - whether they are in (which is surely very unlikely) and if not where the EG and Kefi are in terms of finding the extra cash. They gave ANS a deadline of today to hand over the cashs - the annual report wasnt meant to replace that announcement but was long planned and obviously takes many weeks to put together. Will the EG use its IMF money to fund the ANS shortfall thats what I want to know !!
name change pahhhh
leopards an all takes more than a name change!
You not only cut that note off in the wrong place but you editted out the bullet that made it clear you had. I also said funding was unlikely by end of June, you're not a genius for thinking that :)
shes going down Manu perfect selling mate me also got out 0.95p
me dishonest lol
RU joking...………….. as I predicted NO MONEY and NO EG equity
your posting was deliberately dishonest, I've read it, it's a standard part of the audit note (and I should know)
read it! shoddily run by sneaky devious Harry
you've cut that off at a misleading point - nothing wrong with accounting records:
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
• the Parent Company financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of Directors' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
FULL OF HOLES!
No ANS money all they say is they "hope"
adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
• certain disclosures of Directors' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
o All-in Sustaining Costs of US$856-884/oz, (note that royalty costs increase with the gold price); SCALPING!
The Group is also evaluating and seeking a number of additional sources of financing for the Tulu Kapi project, the main focus of which is securing initial equity or subordinated debt including the funding of US $58 million at the project level. The first is the Ethiopian Government in the process of contributing project equity of up US$20 million; and the balance from one or more other proposed Ethiopian private sector partners, with a proposed aggregate equity investment of US$38 million (Note 28).
In addition, the Group has mandated two African based banks to provide long term project financing to the project subject to the completion of the banks due diligence processes.
As a result of historical and ongoing proactive discussions with stakeholders, the Board has a reasonable expectation that the Group will be able to raise further funds in order to meet its obligations. Notwithstanding this, COVID-19 has had a significant negative impact on the global economy which may mean it is harder to secure additional funding than has historically been the case.
Subject to the above, which the Board has a reasonable expectation can be achieved, the Directors have concluded that it is appropriate to prepare the financial statements on a going concern basis. However, there are currently no unconditional, binding agreements in place in respect of any additional funding and there is no guarantee that any course of funding will proceed or that suppliers will continue to agree to extended settlements. Therefore, as set out above, this indicates the existence of a material uncertainty which may cast significant doubt over the Group's ability to continue as a going concern and, therefore, it may be unable to realise its assets and discharge its liabilities in the normal course of business. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern.