Member Info for ajs8220

"surely Kefi hasn’t been in a better position than this before..."

You're new here, aren't you?

KEFI was in a far better position than this in... wait for it... 2013!!!

Ten years ago (count 'em) it was promising all the same jam tomorrow as now, "waiting for permissions, financing, then we can get producing..." except ten years ago (count 'em) was the FIRST time it promised that jam.

In the intervening ten (count 'em) years, Harry and your board have not produced a single lovin' spoonful of gold (or copper).

And now, IMHO, we are seeing the pre-placing ramp all over again. IMHO the price is not breaking out because all the buying looks like it is being matched by forward selling. If you can't see that from the trades I've got some magic beans I'd like to sell you.

"golden tickets" "stars aligning" "wouldn't want to be out over the weekend" and all the rest of that lollocks... You lot deserve all you've got coming.

And before I'm accused again of 'deramping for a lower entry point' I won't be buying any more at any price. What I have will be dumped on the next placing - be that 0.5p or 50p. Averaging down (aka chasing your losses) is a bulletin board mug's game.

LOLOL!!! last time I heard bulletin board morons talking about "gOlDeN tIcKeTs" it was in relation to Worthington, a bulletin board darling (and complete Norfolk) from 10 years ago which I fortunately managed to bargepole.

I think the criminal case there comes up next year.

So no 'confirmation that we will have no placing anytime soon' then. Thanks for clarifying your earlier, misleading post.

No apology necessary, I didn't expect one.

Where is this 'confirmation that we will have no placing anytime soon'???

We have a few months' headroom on borrowing facilities and some parties working on a 'paid on funding' basis, but with some things that we were told were sewn up coming unstitched, and ongoing delays such as we have seen in the last six months (years?) the company may have no alternative.

On what I've seen the company has been very careful with its language, and you've filled in the gaps they want you to, but unless I've missed something a pre-funding placing is still very much in play.

So where is this 'confirmation'???

If you think that Q&A has scotched the placing rumours you are very much mistaken.

Another can-kicking word salad pre-placing ramp-tastic RNS costing another few grand of shareholders funds from Harry and the gang.

Reading it critically, you could take this as telling us that certain things one could have assumed from earlier 'intimations' were done and final, are actually neither final nor done, but are definitely still getting done. Honest. Yes, sirreee.

I get less confident with each passing RNS, sorry week... actually, same thing.

Next placing I'm out, no matter what the price. The trust is gone. And once it's gone, it's gone.

Not exactly making much of a sales pitch for "the world's most successful growth market" there pal.

"Roll up, roll up - watch 'appy 'Arry make shareholder money disappear beforeyourveryeyesssssss..."

But if you're that far into your denial, I'm guessing we'll have to agree to disagree.

As ever time will tell. No-one can tell me I haven't been patient enough.

I know 'what's going on in the background' pal.

Harry and the board have sent £45m (and counting) of investors' cash to money heaven, without a single ounce of gold (or copper) to show for it!

But bend over for another dilutive placing so they can keep the ol' gravy train well stoked. Choo choo!

So let's 'question my motives' instead of questioning, as I have, why 10 years after my initial investment (under water to a four figure sum, but I'll get by, while Harry has taken seven (count 'em) figures of OUR money) when I was promised production in 2 years, there has still not been a single ounce of gold (or copper) produced by this perennial dog with fleas.

But carry on enjoying the rampathon ahead of the placing lads.

Yeah, more drilling. Groovy.

"Kefi geo team knocks it out of the park again..."

"Huge news..."

"Unheard of for a mining junior..."

AND still, 17 (count 'em) years after floating, nowhere near a single ounce of gold (or copper) being monetised. In 2013 production was two years away. Today it is two years away, April 2024 it will be... now let me take a guess.

There are far better plays in the sector. Start at FRES and work your way down the list till you find one whose story you can actually believe. Because Harry and the Jam Tomorrow Gang have lied to us too often.

Harry "seems to intimate" a hell of a lot over many, many years.

£45m (and counting) sent to money heaven while us serious, and patient, long term shareholders wait for our first lovin' spoonful of gold (or copper).

From the 2013 Chairman's report :

"These assets provide KEFI Minerals with a healthy platform that envisages gold production commencing in 2016 [no s******ing at the back], progressing to a production rate of ~80000 ounces per year in 2017 and surrounded by exciting potential for growth through exploration."

Accumulated losses at that point had just broken through the £10m barrier since formation and listing in 2006.

But yeah, he "intimated" recently that this won't be a junior miner for much longer.

Harry delivers naff all - but intimates A LOT.

"the happiness Harry expressed in last webinar hinted at something big had happened but not able to divulge until it was certain"

Did he also tap his nose and wink at the camera just for you?

The next move in the share price, like the next roll of a dice, knows nothing of its past or its future. You can only spot dips and spikes with hindsight. Just sayin'.

"It seems different this time..."

The desperate cry of all those trapped in an abusive relationship, be it spousal, a scam, or investment related.

£45m of accumulated losses (and counting) and not an ounce of gold or copper to show for it.

Why am I in at all? Because like the rest of you I bought the hype one time a while ago. But I'm out on the next placing - whether that comes at 0.5p or 50p.

As the last 24 hours shows, getting too excited on a little bit of walking up is dangerous.

Harry's comments about 'this won't be a junior for long' are just stupid and whip the BBMs into a frenzy. I'd much rather he commented when he HAS delivered, because right now his shares are down 68% on a five year view. In that time he has actually delivered very little, and has sent a lot of placing funds to money heaven.

I'm holding - for now. But if this is just the annual a pre-placing ramp I'm out. For good.

Results good in places, a few red flags in others.

Big discount to NAV remains but the write down of investments and forward looking uncertainty is a worry, as are the large ongoing contingent liabilities in note 22. Big tax cases in corrupt jurisdictions are often bad news for equity shareholder value.

Dividend maintained but with little cover this year compared to last. We need a good year to shore the yield up for the future. I'm holding but will be out on any sign of the discount to NAV eroding. On the other hand if the management can navigate to calmer waters, the current price could look very cheap.

Something odd going on here. Significant fall in the month before results, and keeps sliding. Not just following the market - we're down even on market up days.

Went through my stop loss on opening, so I'm out.

Yeah right Moneymaker, course you did. Bought at the very bottom and held them all to sell at the very top. Are you Warren Buffett in disguise?

What about those who bought the EUA you sold at 42p and are now sitting on 90%+ losses? Would they have been wrong to listen to Winnifrith and the other bears pointing out that the share is a naked promote that will IMHO continue to place blizzard after blizzard of confetti shares and never make a cent of free cash for anyone other than its management?

But you're such a canny analyst everything you buy 50 bags, so you don't need to bother with the opinions of others.

TW is a big holder here, hence why Colin visited him at home yesterday.

Some of his long calls are pretty average (OPTI and KEFI being two - and BMV hasn't been his best either, still down 20% since he first tipped it in 2017!) but his short calls are always well sourced and 100% spot on.

Ignore him at your peril.

Thank you davwal. When I searched I could only find the one from before Christmas.

Fwiw I am a loyal shareholder, although God knows why.

Also fwiw, Tom Winnifrith has spoken to Colin this afternoon and indicated in the covering note to his daily Bearcast that he sees the shares as a "VERY STRONG BUY", but we must conclude from this tip that he has not been given any UPSI in forming that opinion. He is usually very careful with his insider status.