Member Info for Cybaajak

The latest update gives a broad outline of the CLP that ORR currently has on its schedule for exploration.

Can anyone remember why ORR concentrated on MBE01, and, to date, there has been no follow-up on MBE02, 3 and 4 ? When it cleatly states on the company website the area MBE had 4 distinct targets showing anomalies.

2.7 million quid in June and now, 4 months later, another 2 million quid.

The cash burn is jaw dropping. No way the 120,000 carats cover the outstanding debt, re-coup the losses, and leave enough for running costs for the next year.

At the moment there are, or will shortly be, 9.4 Billion shares in issue. Let that sink in and then think about the size of the dividend to cover that. Its Miniscule. AND TWO YEARS OR MORE AWAY. Remember the mine got to be built, production started, work up to nameplate, then the banks take their cut, then the other financial institutions take theirs, THEN KSA got to be invested in, AND Adams wages which are going to skyrocket on so called success..

So there will have to be a consolidation..

1 for 5 means a shade under 2 billions shares, 1 for 10 means 940 Million shares (still too many to make it manageable and appealing for dividend size..) So my guess it will be in the range of 1 for 17 to 20 (like March 2017) and the recent consolidation over at GGP.. which means those sitting on a million confetti counting chickens will end up with 50,000 confetti mulling over lost dreams.

@ Fantasy.. You are forgetting the Consolidation Issue in March 2017. 3.4 billion shares in Issue at the time reduced to 224m in a 17 for 1 exchange. Raising the share price from fractions of a penny to 6.2p a share. Of course Adams then printed 84 million MORE shares 3 weeks after the Consolidation Date.

Imagine the gut wrenching reaction to seeing your investment prior get shredded down to a 17th of its previous size, and then 3 weeks later a FULL THIRD of the share base was printed to rise funds, as the confetti we have now started its inexorable rise.

Of course, that was then and this is now. I'll just leave this here for the unknowing, to read at their leisure, and marvel at how Adams pulls a 'Locals get Re-housed' quite recently, 3 months in advance.. and this RNS was released way back in August 2019..

5th Aug 2019 7:00 am RNS Convertible Loan Facility and Operational Update

Operational Update

·; Ethiopia - Tulu Kapi Gold Project development:

Significant progress on the ground continues at the Company's Tulu Kapi Gold Project in Ethiopia.

The Government administration has been expanded at local level to support Tulu Kapi and high-level committees have been formed to expedite the development of the sector, with the Project as first-mover. Government work programmes continue in the Tulu Kapi district for the road and power connections.

Recent Project site developments include 300 currently unemployed local people being recruited to start preparing new lands and home sites for the community to be resettled. Additionally, the Company's independent experts have been mobilised to update their assessments of security and community readiness as outlined in the Company's announcement on 28 June 2019.

AND BETWEEN AUGUST 2019 AND NOVEMBER 2019 THERE WERE 12 (TWELVE - NOT A TYPO) ISSUES OF EQUITY FUNDING THE RELOCATION AND HOUSE BUILD PROJECT.

On second thoughts, hold the orchestra in the background, ask Shirley to wait in the dressing room. The Compere is gonna need a miracle to 'up' the crowd after revealing this dross...

@ bonkers.

you make compelling and valid points on management failure.

its not just about kefi ******* up though. with alarming regularity, it has been happening since adams first promised a tulu kapi gold mine back in september 2018 (and first gold pour in q1 2020..yes i've been here since before then..). if i were to list every line in the sand, crossed, every first taxi, not starting off the ramp, every milestone triggering nothing, this post would take up pages, and people have lives to live. not got time to read it all.

adams has consistently obliterated pi trust and money, to the point that, imo, tkgm is a noose around his money grabbing neck.

will tkgm ever cross 'the line' ?

lets hope so, because hope is all we have left.

and the end of the rainy season. that is september if any one has doubts.

Its too late. The share price is already in the gutter !

And Adams would be certifiable if he did it now... Dilute his own holding to chicken feed ? Not on your nelly.

@ Doze and the others who think the 15% that Kefi owns is a benefit, without drawbacks.

Kefi 'used' to own 40% of the whole thing. Adams, in his infinite wisdom, 'sold back', 'relinquished', 'surrendered', OR bartered that 40% down to 15% BECAUSE Kefi could not financially keep up with the required exploration and drilling costs that Arter wanted, needed. Therefore it stands to reason, Kefi's failure to build TKGM in a timely manner has impacted Kefi obligatory costs towards the behemoth in KSA. Some investors were invested here because, in some sense, TK was the preliminary to Haiwah and JQ. Obviously Kefi announced selling their remaining 15% some time ago... and yet since that announcement GMCO MUST have incurred more costs as the exploration is ongoing. 2 further, more recent, RNS from Kefi confirm enlarged discoveries and more results from drilling. Kefi gotta pay their 15% of THAT bill yet as well... By not expediting the sale, Kefi is probably prolonging the accruing debt and reducing their holding still further.

HAA was milking Kefi for more than 600k a year 4 years ago, when it was revealed in company reports he, and the COO were taking Consultancy Fees ONTOP of regular wages. By now, and the way the consultancy fees and finishing costs have spiralled out of control (in an upward fashion..) he must be making around 1m a year AND share bonuses. The 600k a year is fact. Check the 2019 company reports. Last year the consultancy fees and payments were hidden.

As the title states the next rainy season ends when ?

The question is asked because, for several years now, there have been repeated promises of construction starting when the rains end... i'm asking now, so when the rains actually start I've got more untruths to look forward too from the fat controller...

Then this will go the way of Hummingbird. They needed cash, brought in a Bucket shop outfit that brought 2 seats on the BoD. Problems manifested themselves with a BoD gridlocked on decisions, worker disruptions and eventual Management buyout at a fraction of its true worth. 9/10 months from a high of 8p+ to a dismal 2.67p and delisted. Long term PI's shafted while management got 'taken care of'.

Does anyone understand the disparity in viewpoints. Ukraine, under attack, treats the captured as POW's, yet the aggressor Russia, states that captured will be terrorists.

You cannot make peace with a despot who contravenes obvious rules of engagement.

Thats what I dont understand. The Institutional Investor has a choice. 42 million shares at 26p in warrants OR buy 42 million shares at 6p

Just putting this on the front page to ask opinions on cross listing forecast.

In comparison GGP 6 month figures released today had a footnote about proposed cross listing. Its the first week of March and GGP forecast June 25. 4 months away. Surely our BoD *must* have a similar forecast as they have been working that angle since September 24.

Tricky. Your version of history needs to up its ante. Thatcher DID NOT start a war with the Falklands. The Falklands were invaded by the Argentinians, because the ruling Military Junta of the time thought the UK Politicians were as corrupt as their previous administration. Reclaiming The Malvinas was a badly envisaged plan to bolster public support. Admittedly I hold no favoritism for the Thatcher years but get your story straight at least. Nice wave of Nationalism followed, allowed a further 4 years of Thatcherism as well, after the political mayhem of breaking the Miners Union hold over the Labour Party.

Another can kick.

Been reading about 'final closing' for a few years now.

Someone remind me when the wet season ends (this year, not 2023 OR 2024).

Yur forgetting the rainy season...

My bad.

Trailing ounces.

Just want to point out that whilst you quote the correct figures, you failed to realise the 1900 was 4 week total, and the 2000-2500 figure was PER WEEK.

A shortfall of 6000-7500+ ounces a month so far

Or did I read the RNS incorrectly ?

From what I can remember, the previous concensus was Kefi 25% of the JV in KSA dwarfed Kefi's ownership of Tulu Kapi.. HAA has tossed the ball away with the delays to Ethopia and TK by 3 years. Before the stupid toolhut break in and involvement with ASI and their failure to front up their funds, TK would have been in production NOW, and KSA, ARTAR, JB and Huwaih would have been the next evolutionary step.

The fault lies frmly at Adams feet. His decisions and route through this past 5 years have resulted in this LOSS. Getting upto 30m for 15% possible in exchange for 25% of 3B+. Abject failure. Dont let the Adams fanbois tell you otherwise.