We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Fevertrea ...what a happy soul you are...i hope you are not married so mant what ifs...marry SB
1. Share price has been a disaster zone under HAA's leadership
2. His attempted mugging of s/holders for monies for doing his job is outrageous
3. He's running out of cash to pay people so wtf is actually happening on the ground no one here knows.
4. The comments about supervises,overseeing etc hare the same comments he has been making for ages.....you dont just start digging stuff out of the ground you need infrastructure in place and there is scant evidence beyond a few photos and maps.
5. Even if he actually god forbid gets funding in place he will need more capital (and I think another fund raise), and then you are faced with the thorny issue of when the assets get built and start producing...so yes even I am thinking beyond HAA and I still see major issues
I think it's unlikely he will leave soon, since the options vest in thirds, with the first third not vesting until next year, and I think having got this going he's anyway going to want to press on with Saudi.
Have to laugh, now Fevertreeman moaning that harry could get TK over the line and leave ??
Hasn't he been clearing the land and resettling for years? How are his people being paid on the ground? He must be burning through cash (or giving them IOUs).....all very unsatisfactory. If he does manage to get the pitiful level of funding we've been promised for ages, he will rapidly exit stage left leaving s/holder to figure out of this thing has any realistic chance of delivering gold and copper......
I agree Harry could do with a dose of “underpromise and overdeliver” but also if you tried to be first mover into Ethiopia and dealing with a government and ministries that might be doing this all for the first time it is known governments are not exactly fast moving. all we know is plenty on the ground has and is happening and this is largely just a waiting game to things to align. It does feel painful and Harry does not help himself from quarterly updates and webinars that i have to take my hat off to but its probably a little reason why before each quarter he feels compelled to maybe over promise a little more than he should. Most companies go quiet and then release when done. Everything is moving forward so that is key and unless we get official news to the contrary we must now very close. The bank signoff is imminent and we are clearing the land and resettling locals so that is surely a sign of confidence.
HAA and CFO should have there bonus for fundraising cut by £100k for every missed deadline promised. First it was last October, then the end of 2020, then first quarter of 2021, then April, then end of June and now July.....
Either stop stringing people along and damaging sentiment and set realistic and achievable deadlines and make sure they are hit or don't do it at all... The SP drifts as Investors no longer believe HAA and his credibility gets worse by every missed promise.
This RNS is good news, a lot of people will be more relaxed now. This is a big deal and we are heading in the right direction and getting closer to completion.
Yes this is key.
“presented its Project finance syndicate and submitted its Project finance plan to the Ethiopian central bank ("National Bank of Ethiopia”
That means every dollar needed pledged to get banking sign off, which could mean just a few weeks to gey robust RNS as EG are major shareholders of the National Bank so presumably a formality and in reality this pressure by the EG to move this forward will surely help overall. could get key update before the AGM at end of month.
Two significant differences to previous updates.
1) "...presented its Project finance syndicate and submitted its Project finance plan to the Ethiopian central bank ("National Bank of Ethiopia", or "NBE") for permission that it may proceed as outlined. This follows a long, thorough and rigorous due diligence process by the Senior Lenders."
So all the details of the finance are done and its now in the hands of EG, rather than KEFI
2) "All key stakeholders are pushing hard to finalise preparations and the Company has undertaken to the MOMP that, upon timely receipt of these confirmations, KEFI will push to financial closing by the end of July 2021, or as near as possible thereto..."
I suspect the above is related to the 'warning' that KEFI received, so they appear to be working to some form of externally-applied deadline, not a KEFI aspirational deadline.
Also, Harry and the Finance Director both have £500k riding on finance completion and receipt of the first £20m, so I expect that to concentrate minds rather more than in the past.
I would say we will know within the next couple of weeks how it’s going to play out ball in Ethiopians court. If harry and the company are confident they will probably hold on to final closing of deal just using the bridging loans previously described.
Should be able to get an idea how confident harry is from the webinar later.
Closer and closer to full funding benefiting shareholders, the eg government and the country. 4-5 more weeks while multiple ops still happen on the ground. Those in doubt are blinded by the stone cold sentiment full of lies complaints and general b's. Those who continue to post negative bs are clearly not success Investors and if we're smart people would sell and leave, instead of spreading hours and hours spreading as much doubt as possible to keep the sp as low as possible to go all once full funding arrives shortly
Sub 40mil Mcap and soon to receive $319million - of it wasn't going to happen we would have been told so long ago + Hawiah. We should easily be 60mil Mcap + as we countdown to the whole of the companies history coming to fruition while in the companies history the gold price has never been anywhere near where it is now.
You can’t see this, but I’m just kicking a can down my road. And when I get to it again, I’ll kick it again.
Let's hope the elections go smoothly!
The Tulu Kapi Gold Project (the "Project" or "Tulu Kapi") remains on track with previous guidance and KEFI, through its subsidiary Tulu Kapi Gold Mines Share Company ("TKGM"), has presented its Project finance syndicate and submitted its Project finance plan to the Ethiopian central bank ("National Bank of Ethiopia", or "NBE") for permission that it may proceed as outlined. This follows a long, thorough and rigorous due diligence process by the Senior Lenders.
Whilst the NBE conducts its review, the other outstanding administrative details are being progressed with the various Ethiopian Government agencies including, the Ministry of Mines and Petroleum ("MOMP"), Ministry of Finance, Ethiopian Roads Authority and Ethiopian Electricity Power Corporation. These are normal compliance procedures to enable KEFI/TKGM and its syndicate of financiers and contractors to proceed to financial closing, which includes, inter alia, execution of detailed documentation, subscription of the asset-level equity funds and triggering full development, with debt funds to be disbursed later this year in compliance with the Senior Lenders specified conditions.
Same bloody nonsense for three years.