If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Absolute cobblers Rob.
The same Harry who has been telling is the money for Ethiopia has been imminent for a year?
Anyone who knows anything about mining knows that without an independent PEA, and better still a DFS, your pegging has roughly the same great prospects as using the fairies at the bottom of your garden to dig a hole at the end of a rainbow.
Nobody is 'waiting for KEFI', except to empty their pockets. If the assets were any good, Saudi money would already be exploiting them.
The Saudi assets are shaite. Has anyone seen a truly independent DFS? No, of course not.
If the assets were any good Saudi money would be fast-tracking them and 'Arry wouldn't be cucking about in Ethiopia.
Simms, you are talking absolutr cobblers as usual. After that Q&A you must be the only person in the world who thinks "imminent" is still a relevant adjective.
Those answers are deliberately woolly, and warming you up for ongoing lengthy delays at Tulu Kapi. The only timing you should be thinking about now is around when the company fesses up and whether that is before the inevitable placing or after.
If the placing comes first that would put whoever signed off on it in very hot water, announcement first absolutely craters the price and likely brings forward retirement for a few of the chancers involved here.
You can't say you weren't warned.
I think that's the most desperate you've ever been Electric. In over your head and totally resigned to your fate.
Somebody mentioned 'imminent' in a meeting earlier. Immediately asked me why what she said got a reaction. I had to apologise, it was no reflection on her or what she had said.
31 October RNS : "KEFI has working capital in place to underpin its planned runway to the intended launch of the Tulu Kapi Project finance in the coming months."
"Planned" and "intended" didn't come off, that much is obvious. You can't say you haven't been warned.
If there is to be a placing it will be a bloodbath. Forward sellers, spivs and flippers only - no retail offer and no "institutional" they were so keen to trumpet last time.
Look at HE1 in the last 24 hours, there's the template. KEFI might be able to get away with a smaller discount but it will still be pretty steep. 35p = 50% off the last placing? Hard to see how Harry survives that. Those institutionals from last time will not be happy with a 7 figure haircut in 7 months.
Happy Christmas everyone.
"The price may be allowed to drift up and down on the tide, but overall the trajectory will be down."
Just wait till your related party seller shows up and offloads big round parcels of shares into this apparent strength.
The revenue figure in the AGM day RNS was pathetic, this is still burning cash like there is no tomorrow, and I maintain that it will end in tears.
But if you feel different, fill your boots. That's what makes a market.
This is so comical. Retro fit ramper Simms sounding ever more desperate.
"RNS must be Friday..."
"Or Monday"
"This week?"
"Pretty please?....."
"Harry, I'm begging you..."
How about NE-VER, Simms? How's never for you?
You might think so, but in practical terms the opposite is true.
They don't say no, they just find ever different ways not to say yes.
Finally, if pressed, they may come up with an excuse you can fundamentally do nothing about - 'we already have too much exposure to the country / currency / commodity' - but more often the potential borrower is left to make their own decision to walk.
And this has had 'slow no' written all over it since the Spring.
"Credit is a process where risk is identified, understood, managed and mitigated to a point where it is worth lending into."
Or not, as the case may be.
In any normal bank, the borrower can't appeal to the committee or finesse their case. The borrower is always kept one stage removed from the decision. There will be an internal promoter, advocate, call them what you will, who will put the case together, but the credit committee's decision is sovereign.
Given the changing nature of the risks - new ones come to the fore weekly - the bank will want a lot more return than on a normal 'back the business' cashflow lend, and a lot more security (more than is inherently available?) in case something does detonate.
I've said it before and I'll say it again, somebody sees more risk than they're up for. And while they're not saying no - yet - they're not saying yes either.
This gives Harry many problems, chief among them that he is powerless to influence the faceless committee.
Hence the ever expanding timeline stretching off into the sunset.
Yet those big round sells keep coming. As I said a month ago, it will be allowed to drift up and down on the tide but the general direction will be down.
And you've got about as much chance of that RTO being approved as you have of finding fairies at the bottom of your garden.