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What gets me is that they never buy the shares with their own fooking money. They just make up some BS LTIP and sell a load to cover the Tax. Where have we heard that before?
If they had the confidence they would load up in the open periods, I.e now…we have just had the strategic update.
I am now concerned that the ANGS plan would have involved more free shares for the directors. They where about to undertake a massive dilution for a less than attractive deal….wonder why?
Sorry 0.6 p
Looks like the SP angel has earnings at 6p per share when we have both phases going. I would imagine that we use it for exploration and other acquisitions. I.e we won’t see it….
I think we should consider the real potential of selling all of the assets on for a future cut of profit. Very similar to the SLB deal. Don’t forget we are playing them a fair chunk of any net profit we get from the concession.
Also tax issue potential with us for another”12 to 24 months” from the SP Angel report.
My guess is they are lining us up for an initial court failure followed by an appeal. This must be costing a shirt load of money for legal. Would not want to be lumbered with the tax authorities legal costs that may be substantially more than we have in the bank. Might be worth cutting a deal.
And as always this type of RNS in whispered out after the trading day. Just tells me they know it is a bit cheeky, so let’s slip it out after hours. Naughty, naughty Graham.
A bit disappointing. They seem to be printing confetti share to the board for what appears to be doing their Job. What else have they had to do for Christ sake. Seems a bit much to give MS 13 million share for undertaking his Job. Dare I say this is a bit like the JP, BM and JJ share issues.
So let’s say that GL and MS did not bring in Phase 1 would we still be paying them as directors, I think not.
Hope this is OK to copy Rob,
robjm6628 Apr '22 - 16:50 - 19543 of 19545
0 2 0
Ethiopian mining minister today Facebook
“If the private sector economy gets the right opportunity, it can make a big difference in the country's economic growth.
Today we visited East Africa Holding and West China Cement Headquarters. It is a good experience for other private investors and mining companies.
The way jobs are led will have a high chance of deciding the outcome.”
And
Today we reviewed the 9 month plan implementation with the regional mining bureau officials. We found the work done by resisting the difficult situations to be encouraged. We agreed to cooperate and complete the remaining works planned for the remaining months and accomplish the plan.
hxxps://eastafricanholding.com/who-we-are/
“EAH currently employs over 6,000 permanent and temporary personnel.
West China Cement New works in Ethiopia
“which upon completion are expected to create job opportunities for about 5,000 Ethiopian citizens.”
KEFI expects to build a workforce of about 1,000 over the next 18 months. Not bad from a standing start and when you count the jobs created indirectly Kefi will have a major economic impact in Ethiopia.
With the large volume trades over the last couple of days the institutions are moving the shares into efficient vehicles. If they were buys or sells we would have had a SP movement.
Great, thanks Rob.
Nothing on AIM is a guarantee. But KEFI has great potential across the life cycle of these 3 assets to really make some massive gains. It has taken many years but all looks like it is coming together
27th April
Ethiopia has attempted to increase local investor engagement in the country's private sector – through the establishment of new rules and frameworks – in order to promote the industry, strengthen the economy, and drive socioeconomic development.
https://expogr.com/detail_news.php?newsid=6553&pageid=2
I see your point, but maybe a bit of an odd way of thinking about it.
If those warrants are exercised then the share price needs to be 300% rise on where we are now. And we are going to get many millions of income. I might be a bit more optimistic, but that’s the way I am seeing it.
Obviously if we don’t reach the 300% rise then the recent warrants won’t be exercised.
The 12p value is based post issue before warrants. If the warrants are away at 1.6 we get income.
So you the npv will be about 10p. 0ver 1000%, funny enough this was stated earlier. Also this is before any SA upgrade, which is likely following latest planned activity.
Listen to the latest Harry interview, full of great details.
Yes 12p per share sounds about right multi bagger potential
“We have the opportunity to build substantial value from de-risking and advancing the three projects. The Company's internal NPV (8% after tax) on the three projects (at current metal prices as at 18 April 2022) indicates a combined NPV of 12 pence per share, after dilution from the Placing announced today. ”
Other miners working in Ethiopia.
22 April 2022
… Akobo Minerals has announced an updated mineral resource estimate (MRE) for its Segele project, in Ethiopia..
https://www.miningweekly.com/article/akobo-announces-significant-increase-in-gold-ounces-at-segele-2022-04-22
With considerable gold reserves, and a rapidly-developing governance structure in place, Ethiopia could be one of the most attractive investment destinations for the global mining industry, especially for foreign firms looking for a stake in the gold sector…
https://www.mining-technology.com/analysis/ethiopia-gold-mining/
Hi Fantasy
I believe that if 450 million shares had been bought on the open market then the SP would have moved north somewhat. The institutions know this, that is why they often avoid buying on the open market in with AIM shares in particular.
Agree ……with the research note and the Company NAV at many multiples of the current SP we could see a move up next week. looks like Harry had agreed the level of the share issue prior to to the recent rise. Hindsight is a wonderful thing. But it appears that the latest issue is in sticky hands.