Member Info for chasf

cursed L2:
1060606 0.66

Indeed it is curious that during all the down time last year they couldn't get the umbrella agreement "formalised" ready to go, but it sounds as though the detailed agreements are done. As you say, the security report seems positive enough that it shouldn't suddenly be a show-stopper. So it might all happen on time.

If you really are getting NT it's probably just because your broker is stalling until someone's had time to check the RNS. There are loads of shares still to be had.

Because they aren't "investors". It's why I get so ticked off with "the placing shares went to'sticky fingers'" guff. It would be better to say nothing, rather than insult the real LTH.

To add to the calculation this time is the jolly thought that by the time the languid handling of TK actually gets the deal bound up, it will probably be just after or near a big market correction, giving the expected multiples but from a much lower base. I wasn't over happy with the TK part of the RNS. Didn't really suggest to me that, now they've got money again to "keep up that stake in Saudi", and digging holes there, they're really pulling out the stops otherwise.

It's the old "fooled me once, shame on you; fool me twice, shame on me" and indeed I was caught out the same way twice by misleading company statements and webinars to puff it. Similarly with the "all in it together" when they've got dilution-countering warrants to use.

That's only a profit point if you bought in well below it, which many LTH have not. You're partly right that even then I could partition my holding by purchase price and *increase* my average by selling off the chunk that was somewhat in profit, but the idea was that the company was once again making statements that things were on the move, on the cusp (of a move down ha ha). It would indeed have been a better plan since I could have bought that back in at these bucket-shop-dumping prices. Had I been trading (say) PREM, I'd have done that. Now I need to rethink my classification of KEFI. Will they actually get their collective fingers out and get it done? Even if they do, will any price rise actually be sustained? Good question now.

I meant there's generally no point in consolidation except to enable a share raise if the current price falls below the nominal per share. (You can't issue shares below the nominal value.) In KEFI's case, the nominal is 0.1p and since SP is at 0.69p there's some space before consolidation would be necessary to increase the nominal.

Typically they only use consolidation when the SP drops below the nominal price for the share, preventing further issues. That's 0.1p here, so let's hope it never becomes necessary.

"profits" (hollow laughter)

"Would have expected a TR1 by now.
And all this selling makes you think that the placing is being sold in the market."

I've never seen a TR1 from a placing. Every one has been forward sold. "Sticky fingers" was just nonsense for the Firm part. It's doing exactly what happened before. I'm not so sure about the Conditional placing depending but I suspect some of what we see is more of the same. There are also various price points on the way up at which more big chunks will be dumped. I think it's a good question whether the Warrants will "work" in time as they expect.

Another thing is that good chunks of the warrant pot will have gone to the bucket shops, who didn't keep the shares, but end up with the warrants. Weird. Unless they deal off-market and transfer them, which I suppose they might. The price structure of this thing is just such a mess now.

The book's got a grim fascination.

They're paid out of the proceeds ("expenses") so they'll be fine for the moment. The warrants are just the usual bonus for arranging such wonderful terms and managing the dump.

Sorry, I meant "exercise" not "subscribe", since they're just warrants. It does mean they have to notify exercise, same with the other warrants.

The brokers have to subscribe at 0.80, so I suspect they might just wait. They've got 3 years. Previously they have exercised in chunks when they've been in the money. (Might be different brokers this time, haven't checked.)

The warrants are one warrant per 2 shares. They are certificated not traded on AIM, and although transferable they therefore don't seem to be attached (traded with) the shares.

If you look back at the prices following the last bucket shop placing at a big discount, you'll see the price is following a similar pattern. I'm not sure why they are obliged to head into the .60s but they did that last time too.

True dat, but it's a funny thing that you still got to get it out of the ground to get the dosh.

Anyway, these Warrants (exercised at 1.6 when SP is 2.4+ for 5 consecutive trading days, hmm) are supposed to provide the financing bacon for Kefi's contribution to TKGM financing ("to fund any necessary KEFI equity capital subscription in its subsidiary Tulu Kapi Gold Mines Share Company required ...") but when would that be required?

I don't think we're quite in GR territory just yet.