Member Info for Crazytowner

Harry has to step aside once this funding is finalized as he cannot now be the face of Kefi to the Market.

I agree with StephenX, Harry needs to explain what is going on.

To be securing money now for future exploration when they haven't yet recovered the surrounding license areas that that they lost seems premature.

And what's happening in Saudi? Is development advancing? Are we still to plan with the March 25 review?

@StephenX

Historically i've been quite vocal about Kefi continuing to hold GMCO whilst diluting us at group level.

Up to a week ago we were being told that funding was done, no more dilution at group level, substantially oversubscribed at subsidiary, just some routine admin checks.

So I agree, Harry does need to explain what the hell has happened.

A part of me hopes that there is some news / event which occurs prior to the shareholder vote that means that we can all vote against the 2nd part of the share issuance.

Lots of money to be made here, but anybody saying that they are fine having their pants pulled down like this is fooling themselves

@KEFIGOLD

You say that the only people that are angry are short term traders. Thats BS. I am extremely angry.

Firstly because :

The raise must have been necessary, but could it have been avoidable if the board had had some foresight ?

16 months ago we had 6bn shares in issue and owned 25% of GMCO.

We will now have 14.5bn shares and 13% of GMCO.

With the long list of interested companies in GMCO, they could have sold off a 10% share, avoided dilution at Group and be left holding the same percentage as we currently have.

And Secondly :

I have no doubt majors are looking and considering acquiring Kefi. I have said for a while that I don't think it will be long until offers are being made.

Such a huge amount of shares coming into the market at such a cheap price increases the likelihood of a predatory offer being accepted.

We see the dangers of bringing in institutions at low prices with other recent takeovers as they look for quick profits and accept derisory offers.

The raise obviously needed to be done at this time for whatever reason

So many shares at such a low price coming to the market at this moment in time substantially increase the risk of a predatory / unsolicited takeover bid being made & succeeding

@MF2017 :O)

I'd agree that it would take high teens late next year / close to TK production.

I also recognize the phenomenal additional potential of Kefi.

Over the next 18 months, there is a lot planned which will move shares from PI's to II's.

As we progress the share price growth and churn will bring in new investors which will move us to the high teens.

However, right now we are owned predominantly by PI's and no TR-1's have been issued.

Whether we like it or not, majors are paying out big dividends, retaining significant cash sums and have started acquiring assets both negotiated and unsolicited offers.

I've not done the math, but over the past few years, Kefi has likely issued 70% of it's current shares in issue at circa 0.6p. So a 7 - 10p takeover would be

x10 - x16 for the vast majority of investors

A deal with these sort of numbers in the short term will pass, especially if the following 18 months is only going to generate a further x2 - x2.5

@longfell

Harry has said recently that he expects us to be x3 share price in the next few months due to us being so undervalued compared to others

@MF2017

Suppose a takeover offer of say 8p was tabled in the next few months. The BOD would be required to put it to shareholders for a vote and it would probably pass.

You can play around with numbers, but I feel that less that 7p it fails, 7-10 probably passes, Over 10 definitely passes.

Simply look at how many shares have been issued in the past 18 months around 0.55p and many will take the gains

The NAV is pretty irrelevant at this stage. It simply makes us a bargain for an acquirer.

Kefi have a low level of institutional involvement and is owned predominantly by PI's.

It also has a sizeable value gap to make up to be comparable to similar companies in our sector (Would put us at about 5p)

The BOD could simply reject unsolicited offers up to circa 3p without putting it to share holders.

Let's say an offer of 5p was put forward to Shareholders tomorrow without BOD recommendation. Shareholders would reject it, our share price would move up to circa 5p and then we are in the dance of what an acquirer wants to pay v. what us shareholders are willing to accept.

Personally, I find premium on current share price totally irrelevant for companies such as Kefi.

It's got absolutely nothing to do with some of us "being keen" on Kefi being acquired.

I simply see it as inevitable.

It is all about the Majors who .....

- Are now in an acquisitive phase

- Buy the best assets / deposits first

- Are sat on hundreds of millions / billions in cash and financing options

- Are looking to secure resource, bring average AISC's down

- Looking to capitalize on upcoming bull markets

- Looking to enter new countries.

It may be negotiated with the BOD or it may be an out of the blue offer, but the price they pay will be what the majority of shareholders accept.

Harry opened the door and communications with Majors and investors all around the world when he invited enquiries / offers / proposals for our interest in GMCO. Those lines of communications will have remained open.

I've not seen or heard of any rumor.

I do however believe 100% that there will currently be companies in our data rooms under NDA's and it is surprising how finalization is currently stretching out based upon what seems a very simple task in the grand scheme of things.

With the project now officially launched, could it be Harry stalling full sign off whilst talking to Majors?

I've no doubt we will be taken over in the near future. Could it be ahead of TKGM finalising and being committed to certain expensive financing elements?

A Major acquiring Kefi would likely want the Banks & Ethiopian Preference Share Holders involved as this provides risk reduction in a new country.

I don't think they would particularly like the expensive Royalties and their non buyout clause.

Interesting & Exciting times ahead for us shareholders regardless

Does look ripe to get back up into the 1.7's / 1.8's shortly

The trend here remains up

Take advantage of any slight pull backs

A generational wealth maker in progress

First pour is scheduled for early 2028 and Lycopodium tends to complete ahead of schedule

Mid 2028 is for operating at full production

Kefi have stated what is currently being worked on and that the remaining funds are on the same terms as chancery.

Chancery have said they are willing to lend more if necessary.

Missed the paragraph on full sign off in the nest few weeks.

Kefi certainly need to put an RNS out confirming award and timeframe to complete

Am expecting a full financial sign off completion RNS off the back of that news

Will be interesting to see any late trades today and how we finish

A drop in the share price here presented an incredible buying opportunity considering what is coming up in the coming days / weeks

Nothing has changed here fundamentally and Kefi have provided an update for the slight delay

Happy for you to come back here in a week or 2 and tell me whether i was right or wrong that 1.59p was an incredible buying opportunity

"We'll never know but it would be interesting to know how many holders today are still holding when Tulu Kapi first pours"

Simple.... none

We will be taken over way before then

@WalterMitie

I've not bought today, but usually say when I add

Currently sat with circa 35m shares so fully loaded. Have an average of slightly over 0.6p, all ISA'd across wife and kids accounts.