Member Info for DRWHO319

for the last 5-6 yrs, HAA blamed everybody and anything that can give an excuse to his arrogance and in ability to raise the finance for TK and he lies !!! This guy should be in JAIL !!!

As Kefi is facing potential existential risk of of its Licence be Revoked , who will buy the placing even at way below 1p??

WE HAVE the 1st class asset (ZULU) but run by 2nd-hand car salesman ,,,,!! GR is a joke!!

about placing even if HAA wants, who will buy given the final warning by EG to revoke the license by EG as by then Tulu's asset has ZERO value! HAA did claimed that cash burning rate was £1m/month in one of his interviews early in the year !!! I can't image that any one will be interested for even Convertible Loans as SP is dripping fast !!! I am sure HAA can't even afford to pay anybody any money or even share (which nobody will be happy to take atm !!! Think 1p is too cheap, think again !!!! GLA

consider the potential risk of Kefi's License be revoked anytime (last warning was given few months ago), hence zero value as collateral for fund raising ! Hence HAA intend to pump up the "potential " of Saudi for the inevitable placing to ensure there are buyers ! so what's the price if there is a buyer ? 1p will be extremely lucky IMHO! GLA

it's all about desperately placing ASAP , nothing more !!

GR indeed sounded like hopeless 2nd hand car salesman! He need to Go ASAP!!!

This rather empty RNS seems designed for a placing immediately afterwards, well good luck !

Yes , I recall GR admitted in an interview but declined to say more about the new director ! anyway for us PIs to push for that ?

I thought PREM is looking for some competent new senior executive coming on board ? Anyone recall the talk ?

last £1m placing was 3rd June, now Aug 17th another £1m, WTF! meaning cash burning rate at £1m every 45 days! Does anybody know what was the estimated total cost for DSF during 14months duration?

https://www.bnnbloomberg.ca/banks-ordered-to-temporarily-suspend-lending-in-ethiopia-1.1639872

Ask yourself WHY HAA decided to forget the "$60m" past expenditure as claimed for the submission to the "regulatory agency, meaning the license revoke decision maker " begging for the extension of time for so-called Syndicates and contractors willing to advance their cash for "future reward" , which I am sure it is not binding! HAA ask the African bank to commit first before all others will then commit ! EG govt know fully well the "Kefi's light" is about OUT any day, If I was EG, I would say NO! Binding commitment first before I approve ! There are a plenty of cash rich majors will bid in forthcoming bidding war for even a large stake for EG govt ! Why Not , after all, HAA has been playing with EG and us PIs long enough just to rich himself ! As for the EG to give a reason for revoke Kefi's license anytime , a good reason is "Kefi lied for its past expenditure for $60m, kind of money KEfi never had !! GLA

Smelly: I generally agree with the potential funding via Convertible loan but ONE big question will be , given the fact that EG has given Final warning to Kefi to revoke its license if HAA cant sort out financing soon (July?), what collateral can Kefi put up for the loan for say 3-5mUSD?, Saudi asset?

Themask: if you can do simple math, rather then just ****ing about : The balance book of Kefi is already zero if not negative if you calculate from the last fund raise of £3m on 16, Nov 2020 with 1m / month spending, what you think they gonna do with zero cash ?!!

If HAA is lucky, we all have 10% dilution for a price way below 1.5p , if nobody wants to buy the share, convertible loan will be alternative , again, if we lucky but a death spiral to much lower to drag it through after rain season! If all failed, we are F...ed as EG will take the licence away as they did gave final warning ! GLA

Again kicking the can down the road further stuff ! if anyone asking questions , I got a big one: "what figure He put for historical expenditure ? $60m or $13,8m, why the change" ??? IMHO, fund raising either via convertible load or way below 1.5p for £2-5m in definitely on the card if HAA can get it ! GLA

Next week will announce the "death spiral" of convertible loan notes I believe as stated in the Results for the year ended 31 December 2020 RNS Number : 9484A.

Used successful before to keep light on!

I am also positive on my investment un SYME, the latest move to Nasdaq is truly good news as Co's biz model is kind suitable for NASDAQ ! GLA

My problem is 1:) this RNS kicked the can down to end of the year ! 2) upcoming placing way below 1.5p, 3) No local investors , 4) HAA finally admitted that Kefi was Warned when last RNS denied the fact ! 5) The potential risk of Corica NOT to committee $60M investment in exchange for the Contract . 6) After Election of 21st, July is rain season so nothing will be done on site and all locals will be sitting around smoking weeds ! 7) All the $20m Spending by EG on infrastructures will only enhance the overall project value , 8) potential inside deal by Chinese to revoke the Kefi's license and Chinese Pay big to EG govt and decision makers with few fat brown "red bonus " and promising FULL project funding and speedy kick off the project ! btw, Chinese is big in Ethiopia now ! Well, take or leave it, this is my hunch ! PS: For EG, why not with the highest bidder to do a better job !!