Member Info for cherryburn

Crikey sales at just over.25 and bid dropped to .25/.27

Gold down a few dollars again today and hoping Harry has all the funding sorted before heading off to sunnier climes.

Worth remembering that Australia (most likely source of debt funding for Harry) is on holiday from 16 December 2016 until 30 January 2017. Although these are school holidays the financiers will be taking at least a two/three week break over this period. Time running out for a Christmas Special RNS Harry ?

And price smashed down already this am. Next stop below $1150 ?

Saw Harry rushing down the stairs yesterday probably chasing after some financiers. There is a school of thought that gold , having broken below $1177 could test $1125. Not a great time for finalising ? debt packages. Odey must be hurting being leveraged on gold. I will be the first to congratulate Harry and Jeff Rayner (Adviser- Exploration and Corporate Development ) according to his business card when they pull this off.

I was there Tuesday and yesterday and will be there today having quite a few meetings with the likes of Sula Iron and Gold , Burey Gold, Berkeley Energia, and various private companies including Brazil Tungsten. Had a coffee and private chat with boith Jeff Rayner and Ian Plimer. No KEFI stand or formal presentation by Harry .

Good to see Jeff Rayner , Ian Plimer and Mark Wellesley Wood at M&M yesterday. Harry out and about apparently.

KEFI have had a stand for at least the past 4 years I think. Hopefully they will be there again to answer shareholders' questions ?

Zapsnap.......best to wait a little longer for the gold price to settle ($1176 right now). I might be wrong but there will surely be another equity fundraising at some time. Looking at Harry's Timetable from the November 2015 Presentation , remainder of the finance syndicate was to be appointed in Q4 2015 , Project Finance Drawdowns, Construction and Production START UP were to run from H1 2016 through H2 2016 and H1 2017. No wonder people are losing patience.

Trades below .29p does not bode well. Have the financiers stress tested and found something not quite right ? They came, they saw, they spluttered. December next week Harry but not to worry because the holiday season begins in Australia in a couple of weeks and the beaches and bars will be full.

Last week bankers were stress testing various emerging gold projects at $1050. With current sub $1200 expect $1000 being stress test level. No worries as Harry has it all buttoned up by now surely ?.

cjm68....you are being generous with next month, next month as the header over on ADVFN put up by honest crust and his band of followers states that the company would be in production in 2017 ! Banks will be stress testing at $1000 and $1050 gold with current levels and will be going through all the technical data , mine plans and so on down to the last dollar. They will not necessarily rely on the "independent" sign-offs.

Maybe $1200 at this rate. Financiers will be stress testing at 1100 and 1050 which should be OK unless an unforeseen matter arises. How much more of the project will have to be given away in lieu of highly dilutive equity raise at .35p or even .3p.

Was fortunate enough to meet Peter Cox and some of the senior management early Feb in Cape Town. Good team but as with many projects at advanced stage the key issues will be debt and equity finance. The IDC has appetite for equity risk in South Africa but would need to work alongside the relevant bank (Investec , Standard, Macquarie etc etc) . IMHO

Retained deficit looks like approx.140 million per interim financials. Interesting.

I believe that the tax losses do have a value for a company with gold production or future gold production. However (and I am, no expert) the tax jurisdictions do need to be aligned IMHO.

Interesting point raised by Rhodi re lawyers being got at or worse. Is it conceivable that one or more had threatening calls from East of Paris ?

The City Boys have already departed for sunnier climes for Christmas and will not be back until 4th January. This would include Nomads and the like. January or February 2016 would be fine by me.

Invested for over a year now and resigned to the fact that the decision will not now come until Q1 2016. A shame but hoping that the 3 arbitrators do not over indulge over Christmas and New Year and remain healthy for a couple more months at least.

Mambo1 Do not confuse Standard Bank with Standard Chartered Bank who are apparently advising Baobab if you look at the company's website presentations to be found at www.baobabresources.com