Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Yes, he suggest KEFI would receive about $65m if they were bought out in an arms length transaction
To out things into perspective, here's the full extract
"KEFI’s GMCO joint venture partner, ARTAR, is currently funding the ongoing programme to ensure that
swift progress is maintained while we jointly optimise our collective plans for GMCO and KEFI triggers
project launch in Ethiopia at the high-grade Tulu Kapi Gold Project. KEFI’s interest in the joint venture
has reduced from its original 40% interest to 24.75%. While ARTAR has the right to buy-out KEFI at
fair market value as things stand, and while KEFI has the right to seek acquirers of its GMCO
shareholding, we are examining a number of scenarios to optimise the future GMCO ownership
structure for mutual benefit and to reciprocate to ARTAR its support of the joint venture relationship.
This much-appreciated support from ARTAR reflects the strong partnership relationship and the
combined priority given to production start-up in both countries"
There is clearly a great relationship between Kefi & Artar as they are funding the JV whilst TK financing is finalised. People who have worked in Saudi understand the importance of handshakes there. Dual listings are very pertinent as could be a great way to cover our share of the exploration cost
Interesting choice of words.... "moved to Ethiopia to mark the importance of the occasion"
You are right, money could be made in other investments before production, or lost, or break even.
But at production ..... Kefis market cap won't be languishing around £40m and is more likely to be around the £300m (Possibly significantly higher).
Personally, I am happy holding as TK is brought into production, Harry brings in business value adding items (Dual Listing, Farm in etc.), Saudi is proved up and additional areas explored.
We would likely be North of 1p if wasnt for that dreadfully timed shares for fees RNS. But, it does give a taste of what could happen in the next 4 weeks and at full financial sign off
Project launched, progressing through early works, massive finance package agreed, dual listings in hot investment markets, farm in's etc likely in the near term.
At some point our share price will be more reflective of the value here
Level 2 is looking pretty good too
It feels that something tangible is now forming with Kefi which is what will bring in buyers and move the share price to the more realistic higher level
The concept of Saudi investing in TK knowing that the cash will find its way back into developing the Saudi assets may be very appealing
It does tie in nicely with what Kefi has said about other interested parties looking to get in as well as Tom Winnifriths recent comments on expecting somebody to come in in the near term
Kefi is in Saudi to make a lot of money (and they will) , simple
Circa £10k traded, most holders holdings still showing as AMC and untradeable.
End of the next few weeks will give a truer view of what the market thinks of it
I would suggest that most didn't bother voting.
Within that 126m were my 27m and the boards 20m
Harry spoke about the honour and importance of a handshake in Saudi.
Those who have worked there know this, those who haven't, don't
Yeah, it's a good turnout.
Some good questions and good answers
Yes, the corporate actions team could see the AGM but were unaware of the GM as its buried on page 136 of the RTO document
"I can confirm that we have submitted your votes for all four accounts for the AGM (I have not been able to also submit the votes for the GM following the AGM at this point)"
I know you mentioned that there was a standard general meeting after the AGM on the 29th May. After speaking to our Corporate Actions team, they have had a look around, and they cannot seem to find any information on the official company website regarding the general meeting shortly after the AGM. Could you please maybe signpost us to where you found this information, or provide a source? This can be passed on to our Corporate Actions Team, and they can review this, and we can see if we can submit your voting options for the standard general meeting"
When voting, make sure that it is for the AGM & GM, both being held on 29th May.
ii corporate actions team couldn't find the GM (RTO) one
Yes, ii are not great at notifying corporate actions and the online voting is a bit hit and miss
I phoned them up, took 5 minutes
I watched the presentation and have voted in favor of the RTO.
The presentation wasn't great, but it is clear that the alternative is Nil for shareholders.
I can certainly see value in Chemoseed going forward. Just hope they keep us regularly informed in language that we understand.
Perhaps TW will be able to add a bit more meat to the bone as to what that activities this is for
Would rather see shares issued at 0.763 than use the cash raised at 0.6
Obviously some sizeable activities being paid for.
Would imagine some of these advisers are being used to satisfy financing conditions
Remaining signature from the 2nd bank is needed.
This will occur following a site visit (I'm assuming to inspect the security and policing which we have been told is done).
Site visit and signature occurring this month.
It's very simple, you don't announce project launch unless it's a done deal.