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To be fair to Helpful Bell has said several times once this spin off has been done it will be worth more to RRR than the current market cap. And he has stated that at a higher share price than now.
A year ago I think he would have been right. But I’m still hopeful it could be worth 5 million to RRR even without drilling results. Otherwise I would have sold out by now.
Todays RNS confirms it. Yet is currently being valued at next to nothing in the market cap. That shows the faith the market has in the current management of RRR.
Still I have held this long, maybe he will spin this out before he gets voted out.
I’m still impressed with the progress. Short term we should get
The report on the bulkhead and any remediation work needed.
The engineering report on nalunaq and the costs to get the project underway.
Some drilling results at Nalunaq.
But only the drooling results will move this to any degree. Could they get a few million ounce resource as they suspect or will it be far less?
It’s still a coin flop whether Andrew Bell has any part of this company by the end of the year. It doesn’t look like elephant oil will be listed by then or the Australian assets spun off. I think these RNS’s are an attempt to show him doing something but he is running out of time.
Interesting presentation. Should hopefully start to get drill results back next month.
Good on them for finishing the camp and procuring do much of the processing equipment. They must be very confident on the drill results expanding the resource.
A positive argument might be tulu kapi is so far away from any front it’s progress will be unaffected and if Harry does complete finance it’s so undervalued at the moment investors will make out like bandits.
On the negative tack I have heard Harry say before if is wasn’t for state of emergencies they would be in production by now. What’s to stop this 6 month one stopping the project as well? Did I read this short term finance had to be repaid by end November this year of shares need to be issued or can the Liam be rolled over? Also if further security was needed to progress Tulu Kapi how can these soldiers be spared when they are already conscripting past veterans in the capital?
With a news blackout and no hard facts it’s really hard to see where this is going. I’m still holding but I would say thee we best case wins at the moment for a short term completion, especially with governments advising against travel to the country. I can’t see how the government couldn’t extend the end of Hanuary deadline though considering the state of the country.,
As objectively as possible, would we be better of today if we had already closed the financing and Tulu Kapi was in construction in Ethiopia?
A. Hard to say until we have seen a resolution to the current Ethiopian political conflict and related. With hindsight, all that might be said is that no one would want to have borrowed for capital expenditure and then not have a clear run at construction and start-up. Be that as it may, a mediation process has for the first time been approved by both sides to the political conflict. We believe it will be successful and, when that occurs, we can move forward with our clear roadmap to start-up.
A placing would be Harry admitting defeat on the financing and not being able to get the share price to 3p by the end of December to secure his bonus. A small placing after 3p would be find by me.
I agree simms it’s it a bit bizarre. There was no evidence of vote rigging. No doubt there will be a political solution with pressure from all sides.
Whether that happens soon and allows Kefi to secure finance is anyones guess. Clocks ticking and I think this time there won’t be another extension, this should have been tied up a year ago.
Now your first job old chap is to figure out who exactly will make up the government. Try to get it right first time or you may get shot as a collaborator…
https://www.advance-africa.com/tulu-kapi-gold-mine-government-liaison-officer-jobs-in-ethiopia.html
As usual all we can do is wait and watch.
The situation in Ethiopia seems to have caught everyone by surprise. Harry has 500000 reasons t get this over the line but even this situation may thwart him.
A wild card could be Saudi. If I was our majority stake partners there I would be offering a deal to take control of the whole resource. Why risk kefi slowing them down?
Okay that’s one of the first really valid reasons I have seen for a delay, I can’t see the government not extending by a month or two. If an employee had been killed or they were still held hostage this could be far far worse.
They obviously still think this is commencing shortly. Not happy of course about the share price but they are still hiring for development.
https://m.ethiojobs.net/display-job/340033/Operational-Readiness-Manager.html?searchId=1617828270.7679&page=1
In this instance it would be worthwhile subscribing and listening to share prophets. Their take on this today makes interesting listening. Somethings afoot which we may never know fully as shareholders.
I’m not going to breach their copyright but listening might put your mind at ease a bit.
But I always find David Bramhill’s interviews a bit lacking in detail and ramble a bit. I started watching the ones by Reabold instead to get information on West Newton. I find them much more informative.
https://youtu.be/RFzLF8mcGvA
At this share price there is hardly any value attributed to West Newton. There's more upside than downside, but the fact they placed shares before drill results doesn't bode well in the company's confidence. It sends out completely the wrong message.
I wonder how many weeks until news?