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Most significant RNS I've seen in years! Well done HAA!
80m past investment accepted as meeting MoM financing requirements. And Central Bank treating both lenders pari-pasu. TK license is safe. Only thing remaining is for everyone to start believing that HAA can deliver because he's just done that!
brainspark, I am not that connected. If I was I shouldn't be here. Maybe I read things better. Two things are for sure though. HAA is not going to raise the money he's being asked any time soon. MoM is desperate to reassign the block to the highest bidder for sure. I just can't see a middle ground that will work for the two conflicting interests.
For what it's worth and whatever happens with TK, shareholders will be in safer hands if tomorrow's AGM splits the chairman and CEO roles. Just saying.
And another quiet normal day in lambsville. The sheep are lining up at the gates of the towns famous abattoir. Always everyday because they have seen others doing the same yesterday and the day before and the day before that. Wondering what wonder must be inside for so many sheep to queue up to get in and never having enough of it to leave. Happy days.
Legal route? Unfortunately, history tells us that EG is not scared to go to international courts, even against big guns. Different case but same mindset? See
https://www.iarbafrica.com/en/news-list/17-news/960-icl-drops-charge-against-ethiopian-gov%E2%80%99t-at-the-hague
It's a legitimate question for the AGM. Without TK there's no Kefi. Simple as that. Why even hold an AGM without any real license to call an asset? An asset that you control and one you can produce gold from?
Hold your horses, HAA is still your only chance. Only HAA is smart enough to pull kefi out of this latest quagmire, after all, he's managed to string along so many shareholders for so long with just a string of RNSs
You are most welcome @urai5. The only reason I've come back to post on this platform is because I still find it too painful to see genuine investors continue to be manipulated by 'opinion'/'agenda' setters like @robjm66.
One recent example is the security/guerilla war of a week or so ago. When people were concerned about the OLA attacking the Gambella area, the distractors like @robjm66 shouted down everyone saying the battle was so far away from TK that they considered us ignorant of the reality on the ground. And when one guy pointed out that the OLA was also raiding Gimbi and Dembidolo which are the two closest towns to TK, then they changed the story. This is what I mean about suppressing the real news by agents of kefi i.e. @robjm66 and others.
And when I say there is much more than what is reported is what happened a week later. Some 1,000 to 3,000 civilians were executed near TK one Saturday morning by what the government claimed to be OLA fighters. But human right organisations are now saying that it was a crime committed by government/federal forces to put the blame on OLA. And who runs the federal forces? TUB and his cabal!
Let's be realistic about the $80m. I'm no insider for sure. But it must be obvious to any kefi investor that HAA could never deliver $80m in 13 years let alone now in 13 days. In fact, no one should try to in the current environment. This is just an excuse for TUB to confiscate and then sell the TK license to the biggest kickbacker.
My opinion should not matter. My intention is to only share as much fact as I can relevant to the current time. As I said, I have invested in independent and critical local analysis to help guide me. But I can not speculate on any possible outcomes without being in danger of influencing anyone. I only deal in facts not speculation or opinions.
Good night.
uraie, no separate agenda from my side except wanting to see kefi succeed. I hope we are all big enough to accept different opinions and not attack or doubt the motivation of others who do not toe the line of some opinion makers.
Where one lives should not be an issue among professional people. But if you think I must be in Ethiopia to have a better insight on the country then you are wrong. If you must know, since I have so much invested in kefi, I have done a wise thing and invested in regular independent assessments of everything that goes on in the country and in particular TK. And the report I have on TUB will shock even Lucifer! No joke.
How RSA and TK are linked should be obvious for any experienced investor. It's a question of confidence. Would you trust your money with someone who dropped an almost ready money making machine (TK) at the last minute? RSA is still a pipe dream for no other reason than the country is not yet open for mining investment. It's still just mining conferences and presentations and a bit of exploration. And no one knows what the Al Rashid family will do when/if kefi fails to deliver on TK. They are majority owners of G&M and very rich and influential. The city will not give much of a valuation to a company whose asset is only a minority shareholding of a license that is not even a development one. That's is why current SP does not reflect any value on RSA holding.
As things stand this week, we know the following issues will probably decide the future of kefi:
1. Security report due
2. Umbrella agreement signing due
3. $80m down payment
4. RNS on 27/6
5. AGM on 30/6
6. HAA re-election at the AGM
7. License expiry on 7/7
I don't want to speculate on the outcome of any of these issues and shouldn't anyways. I only have one question. Does kefi board have a strategy to save the company if it loses its TK license?
A major investor of kefi recently told me that the last two chairpersons of the board had committed suicide ... no one knows for sure their real reasons but I fear for HAA and the pressure of the job.
I don't believe Harry is trying to get rich by milking shareholders thru a series of share issues. He's genuinely trying to make the project work so that all of us including him make money.
The only issue I've ever had with HAA was for massaging the truth which has now come out to bite him in the ass - big time! I've never doubted his sincerity to make money for his shareholders.
I also do not agree when some of you say that we are in it for RSA assets and not TK. Unfortunately, they are both umbilically tied to each other. If HAA loses the TK license, the Saudis will kick him out in no time. He will have no credibility left.
And TK is not surrounded by the Chinese. It is not about the Chinese taking over Africa. This is a lazy argument. TK is surrounded instead by the corrupt practices of the ministry of mines and the Minister himself. Just look at his tweets from last week. He visits a Chinese owned gas concession with a Turkish company one day and the next day he threatens the Chinese company (polyGCL) that unless they deposit 30% of the project cost ($1.2B!) by July 7th, he will take away their license, just like he said to kefi. That’s a lot of liras! HAA is not the enemy it's TUB the Minister.
Everyone must back Harry to the hilt during this critical week. He must save the umbrella agreement and the licence, otherwise why would any shareholder re-elect him as a director at the upcoming AGM? No TK means no HAA which means SP collapses and your money goes up in smoke.
IMHO
@urai5, I can see you are genuinely trying to make sense of all this but there's much you are missing out simply because the real information is not publicly available and a few continue to suppress anything leaking out even on this platform. Unfortunate.
@urai5, I can see you are genuinely trying to make sense of all this but there's much you are missing out simply because the real information is not publicly available and a few continue to suppress anything leaking out even on this platform. Unfortunate.
If what I communicated is not useful, just ignore it. It's only an FYI. The biggest problem atm is not Harry, as it happens. It's the Minister. He's the most corrupt Minister in the country. He will do anything to get his hands on that license so he can give it to the Chinese or the Turks for a fat kickback.