Member Info for Crazytowner

BS, people have responded to you with what we know, if you still thing a placing will occur, thats your call

To Summarise

- Kefi contribute

I think the up to $5m mentioned is what Kefi will need to contribute to get Saudi Jibal Qutman producing.

We know that Kefi have $10m that they can recover from Tulu Kapi sign off

Absolutely no need to worry about a placing, in the unlikely event that one is necessary, it will all go to institutions and at a share price much higher than todays

A very odd 1 trade going through at closing

There was 1m on the bid at 0.56, the 1 was sold from there taking it down to 999,999

Will be interesting if there is an RNS first thing tomorrow

Big buying going through

Does Kefi prefer a Tuesday to a Monday when releasing good news?

Bonkers,

Thanks for the reminder and the opportunity to say that I was wrong.

Yes i was very angry at the last placing. I believed that they should have been able to foresee the cash need pre Christmas and dispose of Saudi accordingly.

In hindsight, Kefi made the right financial decision in the interest of shareholders at the time.

That being said, I have always recognized the achievements of Kefi and what it has taken for them to get to where they are.

If you think calling out a poster who states that Kefi have not achieved anything makes me a hypocrite, fair enough.

Fantasy,

You are right, you don't need to agree with me, you can blissfully chill in ignorance.

You should however try to come to terms with the fact that you completely ballsed up the timing of your entry into Kefi 10 years ago.

Bonkers,

Just to be clear, you are are calling me a hypocrite and saying I wanted Harry out.

I was very clear that I was angry at the raise on a financial basis of retrospectively retaining Saudi.

Regardless of that Harry is absolutely key to a successful Kefi. Harry going would have financial suicide for us shareholdersand I have a significant amount invested here.

Having attended the investor meet, I accepted that the last raise was unexpected and unavoidable.

Can you please re-post where I have said Harry must go, alternatively, do the decent thing and retract you post.

Fantasy,

Your views of goals and achievements are skewed as is yours on what a CEOs role is as a first mover in an emerging country.

You think finance sign off is the goal, it's not, it's simply another step on the journey.

The goal is for a Kefi to be a dividend producing company with access to a future pipeline of projects

Fantasy,

You recognise all of the Black Swan events that could have sunk Kefi, but you don't acknowledge successfully navigating them as an achievement.

You don't recognise beginning to build an institutional book as an achievement

You don't recognise pulling and keeping together a complex financial syndicate as an achievement

To keep a community engaged and ready to move as an achievement.

To be integral to driving country currency control change and foreign bank ratification as an achievement

To somehow get sweat equity included as our share to the finance deal an achievement

To bring a major into Saudi and JV with them as an achievement

It seems to me that your idea of achievement is extremely blinkered and why others at the AGM were shaking their heads at you.

The reality is that the list of past achievements goes on and on an the company now has future targets, include finalising finance, construction of mine, commissioning, production, proving up Konso, recovering surrounding licence, taking Saudi assets to production, etc. etc. etc.

Bonkers,

Who knows how these licenses will come back to Kefi, but Harry has a 100% success rate in legal challenges and they spend a fortune on legal consultancy so no reason to doubt Kefis view that they will be recovered.

I don't think it is a dream, it's a time proven methodology in mining. Find a deposit, secure surrounding area, exploit project, expand exploitation into surrounding area.

I do think we will get taken over sometime ahead of production. At that time I'd rather have the licenses assigned to us than not

Appreciate that your exit here is 1p which will happen in the next month or so and will not have any impact on you either way

Fantasy,

You say why worry about the surrounding licenses.... well, because they'll have massive economical benefit to us shareholders, whether through exploitation or as part of an acquisition of Kefi by a major.

Kefi's NPV share price at present is circa 10p using gold at $3k. With just a 15% interest in Saudi what happens there won't move the needle that much.

If we want to move to 20p then it needs to come from Majority owned Ethiopian Assets.

As far as i'm concerned, Tulu Kapi financing is in the bag and the rerate will happen.

What i'm looking for is how Kefi leverages it's position as a first mover and delivers me massive dividends for the next 25 years.

Fantasy,

Have you considered that following Civil War, Covid, Corrupt Ministers, Massive Industry Regulatory Overhaul, Frivolous Lawsuits etc. etc. that Harry is the sole reason that you can still recover your position and make money in this share?

Many companies would have gone under and you'd have lost the lot!

Rob,

I suspect askari know full well.

Their share price was in the gutter and they needed something to excite the market so that they can get the capital raise away.

As i mentioned previously, they have given themselves such an extraordinary length of time to approve the issue of shares needed to complete the deal.

I reckon their plan was to raise and then have share holders reject / block the deal via the required issue of new shares at the last minute on the back of "new information coming to light"

As part of the deal, Askari are paying Xingxu £97k for reimbursement of previous exploration and local management costs.

Such a tiny value shows Xingxu have done absolutely nothing on the area which usually allows governments to recover the license.

Add to this hat Kefi believe that the area has been over pegged, has excellent government relations as well as the government having an equity interest in Tulu Kapi itself. I'd say its nailed on coming back to Kefi.

I also think Askari are in breach of ASX listing rules are will come to a sticky end by not disclosing that the license areas are in dispute.

As i said before, they are simply chancers.

Excellent find Rob

It doesn't EL, they are just trying to cause confusion, of course they hold shares, lol

As to dilution, Kefi has $10m recoverable from the finance package and i think $5m is needed to make Saudi / GMCO self sustaining.

We then have a low overhead as a lot can be charged to Tulu Kapi.

There may be some institutional placings going forward, but these will be value add rather than keep the lights on.

I added circa 500k today :)

You'll be paying more than 1p when the sign off lands.

A market cap of 250m (2.6p) very realistic in a few weeks time

LoveLosses,

Absolutely no chance that this gets delayed. Kefi is now in a now or never situation.

Once communities start moving, that's it, dates are set in stone and have to be met.

It's clear that a lot has been occurring in the background which is now showing as Day 1 timeline savings

It's been good buying this morning, not really surprising considering how close we are