Member Info for Fantasy

I was at the AGM on 17-Jul…

Formal meeting – with the resolutions.. followed by informal presentation (which is in KEFI website) followed by Q&A by HAA and BODs. HAA presented key timeline for the TK project and was in celebratory mode for bringing the community resettlement programme by 3 months. And mentioned long term shareholders and value creation.

Me: At the end of the presentation; I asked him what shareholder value he had created over the last 10 years?

HAA: HAA stumbled little bit (asked few times to repeat my questions or part of it, may be didn’t understand my accent) and asked what do I think the value he has created.

Me: I told him that I had been a long term shareholder and the value of the shares had eroded by 95%.

Richard Robinson (NED): One of the NED, Richard Robinson intervened and quoted that most of the aim companies have disappeared – “we have survived and kefi survived because of Harry”.

Me: I interrupted by saying “so we are celebrating survival?”

Me: I asked a follow-up question – In the most recent RNSs, KEFI had been using celebratory words such as achievements, pride etc; I said, “we haven’t even delivered the TK finance let alone pour gold in TK, so what have kefi achieved?”

HAA: HAA replied with war, covid and the rest of the delays; and mentioned the recent progress with ratification etc.

Me: I ended that conversation by saying – Kefi had made progress but haven’t delivered anything meaningful just yet. By this time, HAA was wiping his sweat.

HAA: As expected, HAA said if you are not happy you should sell Kefi shares.. went on for few mins and said that I have taken more than 5 mins and wanted to give the other shareholders the opportunity.

Me: I apologised and didn't stop.... I replied saying that I understand… It is not only selling kefi shares an option but also voting to change CEO and BOD as a shareholder.

HAA: At that point, HAA acknowledged the pain of long term shareholders and said that I (as a shareholder) have every right to exercise to vote them out. Few of the BOD had their eyebrows raised at this stage. At that point in time, I thought I raised my point and for others to ask their questions.

I had further discussion with Richard, HAA & John Leach, after the informal presentation and Q&A.

Richard Robinson and HAA were very casual in their approach. Enquiring about how long I had been involved and what made me to buy kefi shares 10 years ago etc... Pleasant discussion. HAA acknowledged the pain some of the shareholders have gone through. and the end HAA asked me - what I thought about the AGM today. I said to him that I will come back and answer that question in the next AGM - hopefully things are better after 12 months.

Has anything changed for me after the AGM: My personal view is that, no. Kefi and HAA need to deliver TK finance. Presentations, webcasts and all the celebratory note will not change my views

Hi vaulted - Great to meet you and chat with you yesterday at the AGM. Harry asked me a similar question. He also asked me how I found this session. I didn't want to pretend - I told him straight, "I will wait to answer that question - hopefully I will come back and have a chat with you at the next AGM - and things will be very different". Which simple means after all this years; I will wait to see the reality (not be excited by the presentation).

If you look at old RNS (5-7 years old)... this would have been stress tested well below $2200... I remember this was done with $1100.. understand the inflation to account for with our expenses etc... that $2200 should be significantly lower..

Themaskedsinger - I will post some time later today regarding questions and answers from AGM. There was nothing new that market didn’t know or info that wasn’t in the RNS.

I did challenge HAA and BOD - HAA was surprised by the directness of my questions and was uncomfortable but acknowledged the frustrations of ~5000 private investors..

MF - were you at the AGM today?

Met HAA and Kefi’s BOD at the AGM.. I promise, I didn’t hold anything back during the Q&A… had a chat for 10-15 mins afterwards… was ok.. 👍🏾

I thought everyone here is a trader? it depends if it is a day, weeks, months or years.. :)

"Everyone knows he's a trader , admitted it himself"

HAA told us that there will be one more fund raise... didn't realise it will be this soon...

what I suspect will happen..

- community resettlement being triggered (carrot dangled)

- Finance delayed by a month or 2 (vs End of Aug)

- Placement

- finance some time in Q4.

This is my suspicion based on past communication and BS from HAA. If HAA actually delivers by 31-Aug-25; for once I will be relieved. I sincerely hope I am wrong.. had been bitten by HAA more than once..

The biggest calm before the storm... brewing for the last 3 years.. :)

"The calm b4 the storm …., hopefully 🤞"

Crazy - I get the point on price sensitivity... lets see what HAA delivers this week, rest of Jul and Aug. The only time HAA comes to london is when does a placement.. :) He is forced into have the AGM here in the UK.

Crazy - you are correct... so don't believe anything that is not in RNS? (Q&A, webcasts, podcasts and all the emails) - I can say, I will not believe anything that HAA says... Hasn't delivered anything meaningful... Even the RNS is sometimes questionable... :)

Lol... saudi will eventually get sorted.. :) TK will eventually get sorted.. everything will get eventually sorted... GL

"Rather have some TK news even if it along the lines of things are still on track than Saudi news as eventually Saudi will get sorted and there is less time pressure there."

DVH - I expect HAA to tell a story as how things are on-track. I will believe him when he actually delivers TK finance, by 31-Aug. GL

MF - from our perspective you are correct, we should expect this update to rebuild trust etc. But HAA does HAA things. I don’t think he gives a damn about the shareholders.. GL

Lol.. one would hope so.. Let’s see what happens in reality..

“ AGM Thursday.

Matter of weeks until long awaited signing. ✍️

Are you ready for what comes next?”

MF - I am not sure why you are concerned about Saudi update and licence.. If we get saudi update before the AGM - well and good.. if not, no bother.. Licence... I think both of this as distraction from the core role of HAA's - which is to deliver TK finance as a number 1 priority. Will anyone really worried about Saudi or licence, if TK finance is delivered? Shareholders should hold HAA to account for not closing out TK finance. (HAA has brought more time until Aug - with few distractions including Saudi update before AGM and other statements - I am personally focused on TK finance). GL

PS: This is not the 1st time from HAA.. he uses this tactic all the time.. look at last 3 years of RNSs..

"GM Week: One Concern, One Suspicion

With only a few working days left before the AGM, two things stand out.

1. Still Waiting on the Saudi Update

At the recent online Q&A, KEFI said more detail on the Saudi asset would be shared before the AGM. That hasn’t appeared yet. It still might—but it’s getting close now.

2. Askari Metals – Licence Chatter and Timing"

While additional licenses are always good... can we do something with the licences we hold currently :)

According to HAA kefi’s TK is worth billions.. current MC - less than £50m.. so we have lots of liabilities 🙂.. I will let you figure out who that is..

“ Saudi project and jibal project is worth 300m according to kefi..”

Mibb - thats the whole point. if you don't know what is possible in Ethiopia - why do you give timelines that you cannot make? Why tell lies to the market? Either HAA knew of delays and he chose not to share; lies/unacceptable. or HAA wasn't aware of the delays = incompetent.

Are you referring to EMED and how HAA worked his magic? :) can you share the share price before and after HAA?

"One thing that gives me confidence is he has created £600m mining companies before."