Member Info for Crazytowner

... Wow

Agreed @AnnaRobinson

There was no slowing today, the share price will continue tomorrow, 2p perfectly achievable

Or the fact that China is buying as much gold as it can

@deedee1

Agreed, looks like we could open in the 1.7s tomorrow

Todays rise with the overhang cleared is going to draw attention from investors as well as traders and chartists

It does put the freshness back

:O)

Being given a little shake

@Simms45

We saw similar on our last rise, the layers on the ask were quickly removed to prevent them getting taken out, it looks pretty clear up to 1.8p

When we get there, i expect that resistance / Ask to be moved up too

Nobody really wants to be selling now

I think people have realised the overhang has cleared and the only options for purchasing now is going to be at higher and higher prices

:O)

1.65p paid .... she's gonna blow

@dvharrison lol

@deedee1

That's the $64k question.

If an offer comes in tomorrow at 7p, it would most likely be approved by shareholders.

If an offer comes in 2 months time for 7p and the share price was trading at 6p it probably wouldn't

We are only going to get more expensive as we move forward, but however it plays out, we are all going to make fantastic returns here

Kefi BOD will want to see this into production unless an offer comes in which they like, or a hostile bid comes in. It's that simple.

There will be dozens of parties currently looking at Kefi & running their slide rule over the numbers. I suspect that their has been some in the data room following the Saudi sale fishing expedition.

Kefi has a strong experienced team in place in Ethiopia and the construction of the simple processing plant is subcontracted out. There is very little risk for an acquirer.

Anybody who thinks we will still be Kefi at production is kidding themselves.

Zijin Gold just purchased Allied Gold for $4bn USD cash ...... cash!

Very strong buying pressure, this is only going one way

You can feel it coming....

China, buying up..

Physical gold

Paper gold

Gold producers

Gold deposits

@MF2017

I think as at today, an offer of 5p easily fails shareholder approval, 5 to 7p would be close, 7p plus would succeed.

Obviously as we progress construction at TK, gold price keeps rising, Konso exploration, Saudi assets improve etc. etc. those prices all rise

@MF2017

Likewise, it's a healthy debate.

A hostile bid wouldn't need the acquirer to hold any shares. If somebody offered offered Harry 3p per share he would be required to put it to us shareholders for a vote as is a material uplift on the share price. Regardless of whether he believes it represents fair value.

Such an offer would obviously come with a rejection recommendation from the board

.... Wow

China buying up all the gold and now the producers / Explorers (Allied Gold)

MF2017,

I disagree that miners don't buy risk. Miners buy whatever is in their interest to do so, whether that is a producing asset, one under construction or at various stages of exploration.

Below is a strategy that most miners adopt, they have to, otherwise in 10 years time they'll have nothing left to mine.

"Continually replenishing and increasing our Mineral Resource and Mineral Reserve pipeline helps to sustain the business over time. By discovering, acquiring, developing and exploiting viable orebodies sustainably and efficiently"

As these miners move into billions of dollars of cash on their balance sheets, no debt and very supportive shareholders, the risk to their business of an acquisition is reduced dramatically.

Big acquisitions of gold in Africa is truly underway, Centamin & Allied Gold. Kefi won't be far away.

The question is whether Harry can negotiate a deal in a takeover he supports or whether a hostile bid is received.

I would obviously love to be holding here at production, but even a hostile bid will need to be many multiples of where we are now in order to receive share holder approval.