Member Info for Crazytowner

This was the follow up within the Q&A's

Q: Is it not provocative to publicize that you are taking action to recover the Exploration Licences near Tulu Kapi? Would it not disturb the banks or the government?

A: Legitimately and collaboratively protecting the Company’s rights is both a mandatory responsibility and, more so, is how we have achieved strong working relationships with all the parties involved. We talk to all these parties continually and all are comfortable with our conduct. Also, it is quite clear that the exploration areas have no bearing on the Mining Licence or the Tulu Kapi Project itself.

This was RNS'd by Kefi in their Interim Results (Sep23)

"KME has lodged a formal protest with the Ethiopian Minister of Mines as a precursor to commencing administrative proceedings in respect of its long-standing proximal Exploration Licenses ("ELs") surrounding the Tulu Kapi Mining Licence area, in order to continue exploration programmes and community development which have always complemented Tulu Kapi. During an overhaul of the title-regulatory system in 2022, these ELs were over-pegged by a Hong Kong shell company owned by a British Virgin Islands shell company. We are confident that this situation can be resolved satisfactorily. KME has also lodged applications for additional exploration licences elsewhere in Ethiopia"

Sharezy,

My understanding is that our license area was over pegged.

That is to say, the Ethiopian Government (Corrupt Minister) awarded license areas to the Hong Kong shell company that Kefi already legally held.

If this is the case, then I would expect these areas to be recoverable by Kefi

I would imagine they would avoid any pre submitted questions that opens up licence dispute risk.

Their shareholders will currently be completely unaware of it

Looks like i'm going to have to be up at 2am next Tuesday to join the Askari webinar and ask my questions :)

Maybe that is what they are looking for Rob, an alternative to a costly capital raise by flipping it quickly back to Kefi.

Harry will be pretty well connected and have the ear of capital markets for anything mining / Ethiopia based.

Kefi's position is that the land was over pegged and is expecting satisfactory resolution shortly after financing is agreed

Think i may submit a question asking about the overpegging and risk of lengthy legal disputes, lol

Bonkers,

You posted "If you go on kefi forward looking statements it will be similar, actually any mining company will have similar forward looking statements" in response to me hi-lighting the inclusion of "Potential Title Disputes" in Askaris disclaimer.

Companies will only include such a term if the risk exists.

Bonkers,

I totally disagree. A disclaimer for "potential title disputes" is not common.

A company would only include it if they did perceive that there was a risk

Can you share a screen grab of the image Bear.

I'm banned from the Telegram Kefi Group, lol

From the article, note the last few words , lol

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This document contains forward-looking statements concerning Askari Metals Limited. Forward-looking statements are not statements of

historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety

of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and

social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or

implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things,

risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks,

regulatory restrictions, including environmental regulation and liability and potential title disputes.

I've been through the presentation, and nowhere does it mention the Ethiopian Government and it's approval to the licences being transferred

Alanos,

Askari is not only paying £100k upfront, but also 15% of the business in shares.

Interestingly, the key figures skills in Askari are a lawyer and markets.

Rob,

It was before i had invested in Kefi, but werent those licence areas taken from Kefi by the corrupt minister who wanted backhanders that Kefi wouldnt pay?

This is the most recent Kefi mention i could find from April 25 within the Q&A's. Seemed that something was occurring at the time

Q. I note that the area surrounding TK and also to the North not only still belong to the Hong Kong shell company, but have recently been extended for another year. Can you please comment on what the company is doing in respect of this, and whether you still expect them to be “returned”?

A: We remain confident that the successful launch of Tulu Kapi will sort this issue and our administrative processes remain focused thereon. It is not in shareholders’ interests to elaborate publicly.

... Unless there is some truth in that the Chinese are currently in our data room and looking to take the whole lot

Very odd, Sold for buttons upfront and a tiny royalty once producing

Askari Metals Market cap is on its knees at £1.2m with a planned raise of 700k which will be extremely painful for them.

The timing is also very odd, just weeks before our finance sign off.

I suspect they are hoping to flip it back to Kefi and avoid their raise

Harry has always been confident that the area will be returned to Kefi once financing is sorted.

Kefi's latest presentation show that Mining is planned to commence Q4 2026

BCM certainly have the experience to achieve it

There will be multiple companies in the Saudi & Ethiopia data rooms under NDA's, simply because everybody wants to get into Saud and how far progressed Ethiopia is.

I think we will see a bid Q1 / Q2 next year at around the 5-6p as in Q4 Ethiopia starts mining and will become significantly more expensive

Buko thinks it's an aura surrounding him, most see it as the stench of BS and failure

You mean like the excellent Saudi deposits

Moron