Member Info for EyeGuy

It’s about $20 million. The loan repayment date is end of next year.
From this loan $3.2 million remains undrawn.

Let’s hope they can sort this out quickly

Micknags- that’s a good summary of the aim market pal.
Dodgy trades, late or non existent tr1’s and the last to know are humble and loyal pi’s.
Still- bargain entry now. Cheap shares won’t last forever- maybe a day or two.
Confident of a good rise

On 2 points:
The $9 million.
1. Advantage- it’s $9 mill. It’s for next 1/4. Not conditional on full funding closure. Kefi have funding until year end.
2. Disadvantage- they don’t have the money yet.

On the lanstead selling.
1. Advantage- it’s given the opportunity to buy shares at 75% discount roughly to project value. Share price should rise strongly when they are out. Another day like Friday and that’s probably them done.
2. Disadvantage- likely not out yet.

All imo dyor

Good points Micknags.
The seller has provided an opportunity for buyers to actually
Buy stock at 25% of the price they should be. Quite rare for that to happen imo but a good buying opportunity.
Had these a while ago and then again more recently but this imo is the buy signal.
Great rns

Target should be 9.2p. That would appear to be fair value.

Rns :
Assuming that the First Placing and Second Placing are settled, the Company expects that it will be fully funded until the end of 2018, by which the point the Company expects to have closed and received additional funds under its previously announced bond issuance and asset level investment by the Ethiopian consortium.

2 key points about funding:
1.The first instalment of US$9M (Ethiopian Birr equivalent) is to be subscribed to TKGM in the next quarter for a 7% shareholding in TKGM, following receipt of (a) Government administrative approvals, including for the ANS subscription to TKGM and; (b) reasonable assurances of the full funding proceeding from the secured financing providers. The disbursement of these funds by TKGM does not need to await the closing of full funding.
2. Enabling the first stage US$9 million of development funding from the ANS to be released prior to the close of the full funding package, recognising that KEFI's subsidiary KEFI Minerals Ethiopia has already funded the pre-development costs in the order of $60 million.

From rns:
KEFI's majority interest in the Project gives the Company an implied valuation of US$66 million based on these transaction metrics, whilst not including any value for the Tulu Kapi underground deposit or the exploration prospects in Ethiopia and Saudi Arabia, the largest countries within the highly prospective Arabian Nubian Shield where KEFI is focused.

At current exchange rates $66 million is £50.82 million.
So fair valuation for the shares at this price would be 9.2p.
I can see a bag or 2 in the next few weeks

Agree with Latino. Loose placing stock clearing then a good rise coming imo.
I have dabbled in kefi over the years. This is the buy signal imo. Dyor

This should be stock of next few weeks with news on Friday

Yes - it is very odd. We presume that Hudson need bellzone because bzm owe Hudson $20 million.
Also bzm have the listing and access to capital markets that this listing brings.
Also bzm have history in guinea with government ties and as far as I can tell own the licenses.
If bzm go bust, then would the assets necessarily pass to Hudson or the government?
Also Hudson would lose the $20 million.
And someone suggested yesterday that Hudson may be short of cash. If that was the case they would do a placing to continue which was vetoed by Hudson at the last agm.
I have no idea if Hudson decided to take this private that they would get the assets anyway and have the means to develop them. Too many scenarios to think about. Something has changed though because the loan repayment was moved only 6 months ago to end of next year and there is still $3.2 million of this facility undrawn.

The amendment does have bellzones details on it and Julian Cheong even though not on the board still is chief executive officer.
Hoping next week they can sort this out.

Yep. No more placings as I’m reading it

holding thee now with OMI my other goldie. When news digested this will bag imo. Its far too cheap for where this is.
Bit of loose stock maybe but project worth 60 million dollars at this stage is still a 4 or 5 bagger for me.
So a 2 bagger looks very possible in next week or so.
dyor

Just had time to digest.
Lots of positives in there with cost cutting, progression of ferro nickel and BZM even clawing money back with leased equipment, Also talks for asset sale. In any other circumstance you could say job well done.
But the funding issue - if not resolved will mean no progress at all and of course the BOD want to move the FeNi to BFS status to get this financed.Its all bizarre. If you look at otehr co.s say SOLG then II's there allow development up the value curve.Im not bothered about more placings up the curve. Thats what happens in mining co.s pre revenue. So even if Konta port is sold and Hudson dont budge then what then? They need dialogue to find out what their intentions are.
Still holding here and the simplest explanation of what may happen to the sp short term is 5 bag or bust.
IMO dyor.

nice recovery. lovely jubbly

digesting. reads ok. its just wanting to know wtf Hudson are playing at

maybe 300% rise then. sorry for deramping

should do 100% on this. gla

Im in. Great news!!!

Cheers sparky. Didn’t foresee this but hope for a swift conclusion favourable to shareholders