Member Info for Crazytowner

A huge financial powerhouse hasn't taken a 10% stake in Kefi because it t thinks the price will fall of that theres no dividend plan in place.

Strange, there were no green boxes here yesterday

I wouldn't be surprised to see more TR-1's following todays wonderful announcement.

Circa $500m finance package sorted, Major investors coming onboard, project construction well underway etc. etc. etc.

Bring on the Lassonde curve :O)

Awesome to see some serious financial power taking a position in Kefi

You'd have to be a special kind of stupid if you think Kefi's lack of legal action against the Ethiopian Government reflects a weakness in their case to recover the license areas surrounding Tulu Kapi.

Legal action would be a last resort when breaking into a new territory and one that a company would only use once all relationships had broken down.

We've seen from the recent ground breaking ceremony photographs of Kefi, the government and other stakeholders all smiling and laughing how far from the case this is.

Its not clear exactly what happened when the Ex Minister of Mines revoked Kefi's licences, but it would appear that the correct legislative procedure was not followed in doing so. Xingxu then acquired the licenses and the Minister was then fired under a cloud of suspicion of corruption.

Its a bit of a mess that needs to be resolved, but not something new in the world of exploration and mining.

The fact that Xingxu has spent no money on the areas in the past 4 years and then sold it to Askari at cost recovery price suggests to me that they thought it too risky to spend on

I have seen authorities use a deposits Strategic Asset Status as a mechanism to resolve surrounding areas before, so am pleased to see that Tulu Kapi has been granted such a status within Ethiopia.

Agreed Rob,

I suspect the problem is that the correct procedures were not followed when the licences were revoked from Kefi.

Its obviously not in Kefi's or the governments interest for it to become legal which is why I believe these things will already have been discussed and a resolution agreed.

Askari have taken a gamble with their acquisition of the licence holding company, the low price signifies that their is tremendous risk associated with them.

I do wonder whether Askari ever truly cared about Nejo or whether it was simply something new and shiny to get the urgent fund raise awau

There will be no need for Kefi to have to fight to recover the over pegged licence areas.

Kefi and it's governmental stake holders will already have had discussions and have a plan in place to reassign them back to Kefi.

I suspect a big part of it invloves the regional authority frustrating the previous owners (hence the cheap sale) and current owners progress which will be used to justify a near term forfeiture.

Not unreasonable for us to have 3 TR1's in the next week or so.

I'd imagine the existing institutions upped their holdings in the placing

Harry has stated that the placing has gone to Institutional Investors and those with deep pockets.

This makes sense as getting such a large amount away with bucket shops would be very difficult.

The price action / increase over the last few days to the 1.5's also implies that these are not being flushed into the market

Agreed Sharezy.

We know that Lycopodium have established that they are a company that completes within time and within budget.

Therefore, with no overburden on site, I'm expecting Kefi to produce circa 120k OZ Gold in 2028.

At a gold price of $5k and assuming Kefi pay back half the debt then they'd have circa $300m available to distribute to shareholders.

I'd expect them to hold back 50% ($150m), this allows them to pay 0.75p year 1 dividend.

We will be about 25% held by institutions following this placing, with this number only going to rise as we progress towards production and Kefi attaining a main market listing. These institutions will be expecting the dividends and not accepting of Kefi sitting on piles and piles of cash

Bonkers, you seem to confuse facts with your own made up fiction.

You seem to think that if you keep saying it enough then it will become true.

I read your post and it makes me smile. The fact that it is directly about me, lets me say with 100% certainty that you are a liar.

And as you are clearly quite comfortable to lie about me, then you are clearly quite comfortable lying to and misleading everybody else on here.

https://postimg.cc/TLJsTp1W

For the record, I was kicked out of the Telegram group because i called one of the longer term posters a two faced, misleading expletive as their morals changed dramatically depending on what share they were talking about. They obviously didn't like this as were trying to use the platform to promote and get hits on their own stock channel.

I have no idea as to who Tim is, and as to working in mining in Saudi, those on here that I have met personally know it to be true and i discussed it briefly when I met with Harry & John in London last year.

As to having been missing since the raise, well, it's half term and I took the time off over Easter to be with my kids.

The panic from Bonkers at the thought of people selling out of GGP to buy Kefi is hilarious.

Bonkers sold out at 0.6p, at a loss, 15 months ago and has since posted thousands of times on this board.

He obviously remains very bitter towards Kefi.

Tugmaster is right, Kefi has significant rerate % to come in the short / medium term, whilst GGP will be a slower burn from here.

Yes, Harry answered all the questions really well.

The key take away for me was the discussion around there being no bucket shops involved in the share issue and bringing in deep pocketed institutions and investors.

It's great that they are motoring ahead with the project, am expecting to see some TR1's over the next few weeks which will increase investor confidence

On the sidelines, lol.

Bonkers sold out at 0.6p for a loss in December 2024.

Its all there in their posting history.

Thousands of posts later and they are still on the sidelines.

Kefi clearly continuing to live rent free in their head

Based on what Harry said, I'm expecting multiple TR1's over the next week or two

Well worth turning off from this board for the past couple of weeks.

Tulu Kapi fully funded, plenty of cash advancing other projects in Saudi and Ethiopia, gold back over $4,800

It's good to see Baron having taken a position and the exposure that provides.

Am expecting to see some TR1's off the back of the new shares

On TW's Bearcast, he said that he'd been reliably informed that there was an institutional element (of which he suspected a price of about 1.5 was anticipated). It's when Harry then went for the "Extra" 15m from bucket shops that their forward selling drove the price down to 1.2p.

It's a long shot, but i'm hoping that Harry is still working with the other offerors.

It could certainly sharpen the mind and soften their cost if offerors can see Harry has the means to and is going elsewhere.

"Trump says US and Iran have held talks on ending war in Middle East as he postpones power plant strikes"

This will bounce back hard once things settle back down

It's frustrating and understandable that investors are angry, but finance is now done.

It's hard to argue with Harry's decision to stop the finessing and lock it all down now to make sure nothing upsets the rest of the financing package.

DVH, we were apparently fully funded a week ago, yet here we are.

It's got nothing to do with looking back and everything to do with what on earth is going on.

Some on here are trying to smile whilst eating this **it sandwich, but i'm sure they are equally as angry and want answers.

- Cost overrun would usually be covered by debt later in the project and not equity at the start.

- What exactly is the $15m future exploration costs for? How much for Konso? GMCO? What actually tasks are planned and how much will they cost.

- Oversubscribed prefs, Africa funds, Royalty companies that would have given more. Where did they all suddenly go?

- Some were clearly aware and forward trading. This magnified the discount. 1.7 ish down to 1.2... a 30% discount on an already cheap share.

- What happened to "finessing" and "execution"? Looks like that was all bull.

If this placing as Harry has said was oversubscribed with such strong institutional support, then why the F didn't he push for the raise to be at a higher price.

For those saying finance is now sorted, it's not. Shareholders have to vote and i'm currently a long way from ticking the yes box!