Member Info for eshaitan

Actually it should be tomorrow the 1st feb and only if something bad happens. No RNS vindicates the managements view the MOM understands this won’t complete to his prior deadline of 31st jan.

No news equals good news this week.

I think you’re right Agricore, a management change is needed. The company isn’t being valued on its NPV it’s been valued on over promising and under delivering ounces.

This has been on my watch list of possible buys for a long time and it looks amazing cheap. I am considering buying some at this level but sentiment is so against this company my head is telling me wait for the share price to stabilise. It’s being massacred day after day at the moment.

Oh for a crystal ball!
There’s a little more powder in the gun to get about another 1.6 million shares on Monday and then I’m done and will continue the waiting game.

I topped up just over 3 million shares today. But it’s a risk.

On one hand the news this week that the Ethiopian government have voted to end the state of emergency early and have passed that to parliament is huge. Stability means finance can close imminently. Harry has no excuses to delay.

On the other side rumbles about adjacent licences being awarded from Kefi to other parties, and this impending arbitrary deadline of end of January for finance to close or potential consequences. There’s always a niggle the minter of mines might do something extreme even though there has been a civil war.

On balance I think the risk is worth it, I think potential downside of 50% if Ethiopia goes wrong, but easily 3 times gain from this level if it comes good. But each to their own, everyone has a different risk threshold based on their circumstances.

If the spin out of Ballarat Gold company is imminent why sell now.? It makes no sense.

My Australian gold shares are up on average 8% today. Will Kefi rise as well or is there still plenty of background sellers?

I agree. I will buy a small stake on the open, at this price it could be a good recovery share.

Just under 20% of my Australian self managed superannuation pension fund is in sandfire resources, one of the leading copper producers in Australia and the share price is as bullish as ever. Copper is better than gold in my view as it’s more useful and the supply/demand would seem to be in producer’s favour.

Most of the reason I’m in Kefi is the Saudi assets. I believe in the basket of metals they have found there more than the Ethiopian gold assets, (because of the political instability), and as usual I think the assets are crazily undervalued compared to their peers.

Castillo copper listed on both the asx and Lse still haven’t found anything commercial yet somehow their market cap is the same as Kefi minerals. Saudi is going to go ahead in 2024 no doubt of that, the deposits there are only going to grow larger and more valuable yet the value put on them by Mr Market is negligible. So it’s a strong bloody minded hold by me until the market catches up and realises it. I see HSR reckons this should treble in share price on news in Ethiopia, let’s hope they’re right.

You can look at the daily trading volumes pre placing for every trading day several weeks before. The volumes don’t even cover a fraction of the shares issued in the firm placing.

You can’t flip that many shares, so I stand by my comment. That’s why I want to see large volumes post trading to churn the overhang over and abate the price decrease.

Strange to think that anyone that took shares in the placing for monies owed are underwater now as well. They can join the majority of the shareholders including myself by a fair margin.

I’m holding though whether it’s boom or bust, it’s still a compelling investment. According to Harry the shares should be in the teens in a few years so my 4.2 million shares must really be worth half a Bernie not 30 odd grand. Who am I to argue?

Catch you all next week.

Finally got time to listen to it. Typical Harry telling it how he sees it and I must be in a minority but I thought it was quite good.

His frustration at not getting tulu kapi over the line last year was quite evident, and this is obviously out of his hands with the political situation.

There seems to be no risk of losing a licence so once this overhang clears the obvious upsides are metal prices increasing or a formal peace process. Good volumes yesterday despite the price retrace.

Should get a chance to watch the presentation later this week. Te most important thing at present is the trading volumes staying strong and clearing any overhang.

I expect the next RNS will be a formal ceasefire and peace talks in Ethiopia which will pave the way for the finance completion RNS .

To be fair NPV attributable to Kefi is 348 million pounds bssed on their projected shares of the 3 projects.

12p NPV fine but details of tulu Kapi launch and financing very sketchy. Early 2022 isn’t really good enough for a level of detail about what is required and where the company is.

I expect voter apathy will win the day and the management are secure. I’m down on my investment but I still trust Harry to get this through even after him missing god knows how many deadlines.

If the Ethiopian had ponied up a fraction of the money they have spent on this war they could have had a bigger stake in the project and it would be signed off by now.

That’s my only thought fir the day. Have a good weekend all.

All this negativity. The shares are churning over, the overhang will clear and tomorrow the sun will still rise like the share price.

The questions and answers will be interesting. But the fact remains this isn’t a 20million pound company and is mis priced, and the placing at such low prices is appalling.

You can’t tell me with the reserves they have drilled in both countries, that this company is worth roughly the same as wishbone gold who pretty much have found nothing and is based on hype?

This will trend upwards on news and there is no way they will lose the Ethiopian licence when there has been a civil war.

As always the market cap compared to the NPV is very compelling.

The problem is I have been saying that all the way down from 2p! But I expect the overhand will disappear within the next few weeks and this to motor ahead from this low price.

IPO on the TSX of a company with licences near Red Rock at Fosterville in Aus, bodes well for the New Ballarat Gold AIM IPO where RRR has a 51% interest. Trading starts on the 6th.

Https://twitter.com/Outback_gf/status/1478437601103155204?s=20

Interesting interview.

The elephant oil stake maybe being worth 2 million made me raise my eyebrows.