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Sorry my mistake that's the first round number - so market cap about £19m post the second tranch
This website's calculation is already using the updated number. From placing RNS:
Application has been made to London Stock Exchange for Admission of the First Placing Shares to trade on AIM ("Admission") and it is expected that Admission will become effective and that dealings in the First Placing Shares will commence at 8.00 a.m. on or around 14 May 2020. Following Admission of the First Placing Shares, the total issued share capital of the Company will consist of 1,411,719,009 ordinary shares each with voting rights. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company will be 1,411,719,009 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
455,384,924 shares to be exact.
Market cap is not going to be £14m though? There's another 500m shares coming on to the market in the next few days.
KEFI doning better - finally, hopefully.
I sold a while back but ill come back in.
Have they received the ANS funds? or have they just signed something else we never expected again ?
Someone also mentioned voting against dilution? yet more of those?
Please give me a short update if you can. Thank you
I have doubled down on research but everything Harry has said stacks up in his recent Q and A webinar. dealing with governments and large consortium is never going to be fast and i think Harry was a little optimistic to believe they behave in the same way as a bank or single investor. For £3.5m to go into the business this week they will also have done their serious due diligence as they could lose investors money very quickly if TK goes into the long grass. I think closing of extra cash is the 29th so once that is out of the way Kefi are financed for 12 months and all to play for. I just keep coming back to £14m market cap and consider £60m has been sunk by Kefi and previous owner over 12 years so i feel on steadier grounds both in terms of £3.5m in the bank and the need to make this happen, as much for Ethiopia as for Kefi. Government have already invested £20k into infrastructure so they are not going to want to build a road into a muddy field. Government would have serious egg on face so i also feel that if government does not turn the screws on ANS they will take out ANS and secure a much bigger windfall for Ethiopia given gold is $1750 and not $1250 when originally agreed. ANS stand to double/triple their investment from day 1 based on NPV so why would they not do that as they locked in a cheap entry. Hopefully this time around things will move.
What is the deadline to vote against the dilution ? Surely we all need to vote against this theft of our company by greedy (and incompetent) directors ??
That I agree with you on. And I've seen enough on small cap mining stocks to believe (rightly or wrongly) that some degree of manipulation can occur. I missed it last time (was put off by the spread) but didn't want to chase as the accounts made clear it needed money. As of today I have no edge on whether it goes up 10% or down 10% from here and given the spread and view of mid term value I'm simply holding, having bought at around 0.8 a week or two ago.
I've no idea whether this is worth 0.8 today, 1, 1.2, but as I posted earlier it's now at 1p funded whereas in Feb it was at 1.2+ in need of more money shortly. Gold is higher. So if anything the share price is lower than it should be over the medium term. If I thought the risk reward range was 0.65-1p on a 6 month basis I'd sell today and advise anyone else who feels the same to do so.
Personally I think it is more favourable than that. And Kefi is part of a portfolio of gold stocks within a portfolio of general stocks.
I'm stating facts, there's nothing to rumble. It's your position that is inconsistent. Why would you not trade something you're so sure of?
I suggest that if you know how it works you should have bought when it fell and sold before revealing your fears today - you'd have made 20% in a week. I don't have a crew but would like to.
Given you know so much about how it all works I presume you bought when it went down again too :)
Simms45, good to see a seasoned junior gold company investor taking the plunge here.
I've been off and on with Kefi for about 18 months now, oscillating between excitement over the deep value opportunity at T-K, and despair over the multiple missed deadlines for funding, the bugbear of all AIM companies. Credibility of Harry Adams has been shot to pieces by this carry on, although the BOD is not entirely to be blamed. ANS has its own issues, and the stories provided in terms of why their money has not been put up yet as a JV partner, would make Dominic Cummings' explanations yesterday, quite reasonable. The most laughable one was the "waiting for a Notary Public to sign off" rns.
Even with the recent heavy dilution- - again - at 0.65p by RAB Capital, a good name to have on board, the economics still stack up, but mostly because each time the numbers are revised, the spot Gold price is higher, as well as the total number of shares outstanding.
Kefi is a high risk speculation. Much higher risk than Cnr or Ggp, my other two gold shares. But it deserves a place in a mini basket of Gold shares on the brink of development/production, as long as that funding arrangement with ANS and the banks providing the debt package slots in on time later this year. Until it happens, the sp will trade at a massive discount to fair value, deservingly so.
Which is not to say it won't fluctuate but I like the risk reward medium term.
No. It went down last time because people weren't expecting a placing at 0.65. This is now known.
As i understand RAB Capital are a new shareholder taking 12.5% stake. They will be long-term.in my view there has been an overhang of shares from those selling and not enough buyers. Its happens to the best of companies where the market cap is unhinged from its potential value. looking back at RNS i can see the pain and thats not to say more of the same might not happen but its a simple risk that either Kefi gets funding finalised or it does not and i am not even talking about the Saudi resource as thats just the cherry on top. Gla
1p breached. 2p, here we come!
Its moving :)