Member Info for EthioEthio

"The current negotiations are primarily related to partners in acquiring assets belonging to the company itself".

so clearly not a full sell then right?

EUA want to keep part of the business.

Will Russians use flanks license to sell to them? may be

What do you estimate the SP to be if M is sold.

Shortly , imminently - lets hope so Harry. the gov as paid where it had to and only ANS left and they need to act now.
they cannot hold the project back from here. Very positive about KSA.

is this interview from the 3rd - 4th of Feb? if so they waited this long to post it? may be they are telling investors hold , not much longer to go here. when he made the comparison to KSA, its easy to tell he's had a tough time due to the political change in Ethiopia which seems to be stable now. ANS need to put up and get this started. after last RNS, i estimated about 1-2 weeks. I'm hoping we will get news next week.

With price of Gold going up and a lot of buys lately, we will see a really decent rise. GLA

this share has been the victim of the virus or something? Jesus. down 47%

someone mentioned about IG and opening etc.... are you guys expecting news tomorrow based on that?

did not expect this to drop. why are peeps selling what looks good to hold?

Harts,

I have been saying it was a tactical move here. I worked for a bank in IT, every employee is forced to do an insider trading test regularly. It does not matter if you work in facilities, IT, fiance etc. They take this very very seriosly.

I find it hard to a senior adviser, with OVER 30 year experience would leaky a take over like that. I find that hard.

My second point, have you seen the twit? the hashtags, the way it was worded etc makes it seem by design not something someone says on twitter drunk or by accident. Its almost like they are forcing a move from EUA. Dimitry has said we WONT be rushed a few times. We dont want to make mistakes so they can take as much time as they like. I know they will come back with a deal that will please all the holders. Esp the long term holders.

all good for us

The application for the license take 6 months it has been said on the board.
The application was made in Sep. They may already have the license. Its possible that it was received during the suspicion.
Any deal would include the flanks.

FACT: If EUA does not sell now, it would be the buyer that will lose out. The price of Palladium is not making a u turn. This is why i think there is a bidding war. That twit would have brought competition to the table.

Insider info and social media. someone, may be drunk at the weekend twitting out a message to the world, is not the same as someone leaking info to others deliberately for financial gain imho. we are seeing footballers etc saying stuff their clubs dont like etc. its a hard topic on its own.

Reason given for suspension is info leak via social media. By whom? Michael Hammond. Who is Michael Hammond, see below

"For those, who do not know Michael Hammond, @Michael06257056, he is former CEO Asia Pacific of a large bank and now Advisor to the Chairman of CITIC Merchant"

Michael's twit said Merchant has signed an engagement which we must assume is true. If it was false, the suspension would take hours to resolve and we would have been back trading. Because its true, we can't trade. Look what happened last Monday, a lot of BIG buys went in although we closed at the same price as the previous day.

Someone said they sent an email and received a response from EUA. It had 2 messages. 1 which they were postive above regards the future. the 2nd which talked about "resolving a situation". I believe the "situation" or incident they are trying to resolve would be the social media twit. Which EUA has NOTHING to do with. Michael is NOT their employee. Even if it was, such matters can sometimes end up with a warning . I think the incident/situation would have already been resolved.

The twit said "merchant has signed". Merchant as you can see above would be CITIC that he works with. It basically means EUA and CITIC in talks for part or all buyout. The big buys that came in on Monday came following the twit so that is nothing for EUA to worry about as their side did not leak anything.

Palladium is expected to reach $6,000 by some in a year or two. EUA is worth more and more by the day. I would not be surprised if we are looking at double or more than the 56 -60p valuation. Time will tell!

Those who are short on this, you have made a serious error which will cost you dear

GLA

does not mean a lot to EUA or does it?

sorry - between 2008 - 2018 it was registering growth of 10%+ year after year. Our population is 2nd most in Africa, currnetly around 110million. Coffee was our biggest export. Always has been (discovered in ethiopia 1st, city called Kefa). Now we need to earn money from other sectors. Mining is at the forefront. That is why i am invest n KEFI. I hope it works for all of us. :)

Olderandwiser

Like i pointed out below, things can be very slow when contracts are involved in Ethiopia. Especially when a foreign company is in the mix. You have to note that we have a new leadership in government and they have taken a new approach to business. It was very difficult/impossible for foreign companies to invest in ethiopia. Now, they are trying to change that. We have changed to neo liberalism (last 1.5 years). With the previous ideology, foreign companies could not invest in banking, telecom, airline , power etc. Everything was state run. Now, private companies are allowed. They have already entered the telecomes market etc.

KEFI is a flagship in a way. Its the 1st. It will the be export generator. Harry met the PM. The PM is giving him all the backing he needs. Also note, this is a public/private partnership which the government is encouraging. (this is mentioned in the rns and the government wants this to work to tell the world/Ethiopia that their methods work). I have to be honest and say there has been political issue here and there but nothing the government is not on top of.

I would say we are more than 98%. I would think we only have 1 week or 2 weeks at most/worse case before we see funds.
If the market did not believe that, we would have been looking at 1.4 or 1.5s today.

NOTE: between 2008 - 2018 Ethiopia was the one of FASTEST growing economy in the WORLD. Certainly the best in Africa.
This new government is looking to better that and they see foreign investment as key. They wont let this fail. ANS will not sign on the dotted line to shy away from putting up. We are 99% i say.
hold for a week or 2 sir.

GLA

i live in the UK now but grew in addis. Got brothers and friends that have gone back and run businesses. By all accounts, not easy getting things done there but its getting better. As you can imagine, i want this to work for many reasons.

"documentation and standard local procedures, beginning with the notarisation and registration of the approved shareholder resolutions with the Ethiopian Department of Trade."

i spoke to a friend and he thinks the process with Ethiopian dept of trade should not take longer, may be a week he thinks.
the previous rns said shortly after so we just have to wait 1 week or 2. It may even be this week to be honest as that process should not take long at all, even by Ethiopia's standard.

No really allowed us to top up or raise the price.

I think we will see it go up small % per day till next rns which i think wil be news of funds.

I doubt verification of signatures and agreement will take too long, esp, if the government wants to
expedite this.

few days i think

Elenor, no one knows at the moment but its looking very good for all of invested.
The facts that it has taken 5 working days since suspension is a very good sign. inho, its either a
deal being done or a bidding war is going on. Remember, EUA is very unique and it has a LOT going for it
so i would not be surprised if 3 or MORE players are looking to take over.
This management team seems to be a lot better that the others companies i have invested in and follow.
Moto from them seems to be, don't rush anything. i have heard D say that. He said we will not be
rushed on anything. Mistakes get made when doing so. So we will wait to hear news soon. Hope today or this week.

So what happens to your money in FRR?
What do you mean you doubt you will hear from them?
Can they just disappear with your money?

With this positive RNS, i expected better. But it seems the market
is treating it as no news. Procedures in Africa are different.
The money will be in this week or next imho.
we will break 2 and 3p then. Saudi results should not take too long as well.

the spread tells me it may drop later today and if so, top up is my strategy.

my brother has a business there and i can tell you that trade dept, (Neged minister) is a place
many Ethiopian business men/women make trips to.
Now that the agreement has passed all resolution, it will be just be a matter of handing the paper work
for the registered business. Unlike the west, things are done a bit different over there. The trade dept keeps
a record of everything in case a dispute or anything like that occurs.

Just like the previous RNS said, money will follow shortly after.

" the largest single export generator in the country”

The government is desperate for this to start. Te next step is a very simple and quick procedure. This is all done.