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Years of over promising, carrot dangling, zero delivery, zero production and constant fund raising does tend to take its toll
The enthusiasm for this share has waned so much that even at these ridiculous prices and being on the cusp of greatness, still cannot generate any form of excitement into sp. It does beggar belief whether there will be any major impact to the price even when the credit is announced?!
We shall see.
Https://www.kefi-goldandcopper.com/files/announcements/kefi-pdmr-shareholding-24july23.pdf
“interest in Winchcombe Ventures Limited with the balance being owned by parties who are not PDMRs of KEFI.”
Correct me if I am wrong but Winchcombe Ventures have an inflow of shares into that company as Harry's remuneration shares go direct to Winchcombe. You'd have to be pretty slick to work out how many Winchcombe Ventures sell on a yearly basis, unless the situation demands an RNS from the company due to these shares being insider trading due to Harry being part owner of Winchcombe.
Ill sell 200,000 of my 960,000 shares for 4p each lol
Price is skewed as you can still buy at .7p on ii.
I can't see level 2 but the market usual is so slow on ll2 that it is hard to guage where the price is going.
If you look back at almost every placing you will see stubborn resistance at the placing price. In many cases months and then pop we jump 30-50% very quickly once cleared. harry was past master paying all manner of people in shares including suppliers and 3rd parties who simply sell for working capital. Not sure its case this time but suspicion is someone bought who now is selling to not lose money. I do not have all answers just historic memory of placings and this looks identical and hope we jump to .8 quickly as we should be around 1.5p by now if we get news at end of month from credit and then towards 2.4p as we push towards equity financial close and then who knows as Hawiah and JQ and many other things are looming larger and Saudi listing will put Kefi into a different orbit.
HtTps://www.fanabc.com/english/amp/export-trade-recorded-average-growth-of-7-pct-in-the-past-4-years-in-ethiopia-mopd/ (Ethiopia general)
htTps://www.zawya.com/en/projects/mining/saudi-offers-7-new-mining-sites-to-investors-u6t9rtxo (Saudi mining)
htTps://gulfleaderscircle.com/interviews/by-prioritizing-locally-sourced-materials-we-contribute-to-the-growth-of-these-industries-in-saudi-arabia-abdul-aziz-bin-sultan-ceo-al-salehiya-mining/ (Saudi mining)
Https://www.businessinsider.com/4-ways-to-outsmart-any-multiple-choice-test-2015-6?r=US&IR=T
so simms45, assuming your observations are correct and that a placee from the ‘institutional placing’ (no s********* at the back) of 30 may is selling into the interest generated by the newsflow of the last couple of weeks at no profit having held the equity risk for the last 3 months, do you think this is because :
(a) once the overhang has cleared the shares are about to pop and the ‘institutional’ (no s********* at the back) seller is stupid to be selling at this level, or
(b), (c), (d), (e) or (f) [other reasons for this trading pattern i can immediately think of, none of which you are going to like]
answers on a postcard to jeff keating, sp angel.
I notice another £51k of shares sold today alongside £100k yesterday at placing price of .7. I think it is a sell because it looks a blended average although it looks above todays price but a purchase of this size would have moved the price higher i suspect. Hopefully we finish off these leftovers from the placing but once they have gone we will get quickly start to move as this is artificially holding back the share price. The same has happened before after placings where it seems forever you are stuck at a level and then pop once they are all sold. hopefully something big will drop before the end of month
Such a massive, almost unbelievable disconnect in value between Allied Gold and Kefi but presume the premium is the fact they sold their previous business for $4bn+ so comes with added credibility. However $1.3bn Canadian valuation on TSX is a good benchmark. Now with Silvercorp buying at $43 an ounce and everyone else piling in it looks like a wild west in Ethiopian mining has started. While improbable, as no one would sell their shares at the current valuation, but is the valuation of Kefi with all the licenses and goodwill built with the Ethiopian government. Kefi could become a Titan of Ethiopian mining over coming 5 years as once TK is financed they will be able to take their pick of the countries license opportunities and will have already built considerable networks across the whole of Ethiopia along with development banks and investors. exciting times given we are £30m market cap :)
Three recent developments have served to put KEFI’s Tulu Kapi into the spotlight. The first is Ethiopia’s recent central bank directive exempting certain strategic industries – including mining – from foreign exchange controls, satisfying the last major condition precedent for the issuance of final approval by the project finance lenders. The second is Allied Gold’s listing on the TSX, including its decision to raise US$250m (US$160m in equity), of which 80% is to be invested in developing the Kurmuk mine, also in Ethiopia, on the border with Sudan, west of Tulu Kapi. The third is the takeover of early-stage OreCorp by Silvercorp at a price equivalent to 24.5% of attributable NPV5% or US$46.14 per resource ounce.
https://*********************/companies/uk/precious-metals/kefi-gold-and-copper-plc/research/edison/kefi-gold-and-copper-east-africa-and-ethiopia-attracting-investment/3_32690xxx-97b1-d428-e769-4bc7bbfed93e
"Allied Gold (AAUC.TO) listed in Toronto last week raising US$267m in
equity and debentures in the largest mining IPO in Canada since 2010,
and achieving a market cap. of C$1.3bn."
Tulu Kapi nearing project launch
Critically, this removal of the exchange control was the final major
condition for the banks’ final credit approval for the Tulu Kapi project
funding
Now, only documentation and administrative matters
remain. Project launch remains on track for 4Q23.
After years of setbacks, KEFI’s shares look incredibly undervalued.
Final credit approval is expected to be a significant positive share
price catalyst
Https://kefi-goldandcopper.com/files/files/KEFI-Orior-Capital-Game-On-18Sep23.pdf From Philiby advfn thread.
I remain mystified as to why this will remain in credit for a few weeks… if the submission is complete and has been circulated to individual committee members, then a credit call will be arranged and it will get approved, or not..
This is less than a week imho
All of that said - it does look pretty encouraging in all respects
Just be careful you don't get spiked on 'a done deal' that ends up not actually materialising.
Harry has form, lots of it, in this regard.
Deal being done is dependent on on everyone being happy but as everyone is happy..you can of course wait a some days till the credit and board approvals start coming out but obviously you are not going to get in at this level. So its up to people when they want to buy really.
If you await credit committee sign off, it is not 'a done deal'.
Harry stated in the TW interview that all the banks paperwork is now done and with their credit committees for final sign off, this follows the recent changed in banking regs announced in the RNS last Monday. Committee expected to sign off in the next couple of weeks or so. Staff all lined up for starting on site with the community stuff first week of October. This is a done deal.
Pay the £1.50 to listen to the interview on Toms website if you want to hear it for yourself.
Saudi listing expected to be in 2025.
"From past experience interviews have been more of a case of elaborating on factors that have been a bit overlooked by the market (and on here) helping Harry get the message across about the company a gauge to see how confident Harry is and so on.. .anything that helps get he message out there is helpful really."
Spot on Robj. I have seen the interview and the key thing for me is the language, whilst other Junior Pre-production Mining CEO's talk about "if" so and so materialises, Harry is now talking "when"
Just to confirm - we don’t have any inside info.
While I have not seen the TW interview TW has himself declared himself as an insider before when needed to. From past experience interviews have been more of a case of elaborating on factors that have been a bit overlooked by the market (and on here) helping Harry get the message across about the company a gauge to see how confident Harry is and so on.. .anything that helps get he message out there is helpful really.
Does this mean TW and followers have insider info?