Member Info for Fevertreeman

This is going lower, and Breteau is likely to face some tough questions re. price paid for Liquidnet

PL has driven shareholders' returns into the ground though of course not his own financial interests

Despite the trading statement flagging up the tough comparator with last year and revs in line, as s/o who knows the company intimately, the core business continues to lose momentum, and cost cutting is coming from the front desks, and Liquidnet increasingly looks like an acquisition that they overpaid for. Margins look under pressure too, despite the 15pc fig at constant currency....I see this coming under further pressure as the income yield isn't anything special, and the fundamental business remains under pressure not helped by the Fed and other central banks monetising debt, crushing volatility and destroying price discovery. This is heading back to 140-50p

I invested in Kefi 4 years ago and finally gave up disillusioned with the gross shenanigans of HAA after too many 'distortions of the truth', missed deadlines, and the evidence of his disregard for s/holders and blatant greed. Since then (mid 2019) he has proved himself utterly incapable of speaking the truth, meeting his own deadlines, raising a cent or voting with his own pocket. This is still a company on paper with mining licenses. Anyone with any sense would look at his age and work out what his game plan is. He has no competence in mining (and it now appears financing), no experience of the Horn of Africa, and absolutely no intention of doing the hard yards. He would have been in his element promoting rail stocks in the 19th century....fanciful talk of share price quintupling to 10p and that the value of Hawiah is absolute huge... it may well be but not to Kefi shareholders .....

the anti-hero HAA has utterly failed to stitch together a relatively modest amount of capital in a world of zero interest rates: from banks, from private equity, from big miners, from anyone save the shareholders. You couldn't make it up, except he of course has been laughing all the way to the bank. I don't buy the argument he has huge skin in the game ( share awards that most probably he's written off), and the poker tell there is HAA (and the FD's) insistence on rewarding himself a cash bonus on financing rather than being made to take it in stock!!! First cab off the rank, he likes to say .....without adding he has no money to fill the tank, there is no engine, he is awaiting wheels and a driver, and the fare is reluctant to pay and is othering instead a promissory note for 60pc of the fare but only if some other passenger pays the outstanding 40pc.

SA potential asset is about the sum of it. Really at the point where s/o will need to call time on this wealth-transference scheme.

Will it be RAB? Will it be the Ethiopians? Will it be HAA suddenly resigning or will it be the auditors?

"We continue to proceed step by step."...much like the share price over the last 10 years Mr Levine: step by relentless step by relentless step DOWN

One wonders how much longer he can keep the plates spinning before the market and/or the Ethiopians call time on this utter farce.

I meant of course stepped down from Chair to CEO as Wellesley Wood was CEO back in 2019

The real rot set in when the previous chair Wellesley Wood sadly died, allowing HAA to step back up to Chairman while retaining his CEO role, so absolutely no real oversight of this character and no one to hold him to account. In any other company HAA would been just an interim chairman and stepped back to exec after they had appointed another chair, but not here. I am amazed frankly that he has the gall to come before shareholders with the same old nonsense whilst pocketing huge sums

but for years now nothing the man has promised has been delivered . Draw your own conclusions - as s/o else said if he had faith in the project he and the FD and other NEDs would be buying the stock hand over fist, but that would of course involve spending cash.....

hence the endless can-kicking and smash n grab attempt to lock-in a bonus

HAA's tortuous financing arrangements have only revealed that these are non-binding commitments, that those who made those 'promises' are doing so on bass that the the missing 40pc funding gets delivered, and HAA has given himself till Xmas to get this over the line. There must a serious risk now that the government exasperated with his non-progress withdraws the licence and awards it to s/o else who can stump up the cash.

HAA has tried every ruse, strategem, excuse and fiddling with the truth to string this out. There is no monies coming any time soon, the locals have his number, and he is desperately hoping for either a miracle or a rights issue to avoid ref showing red card. This latest nonsense about the fighting just shows how utterly spent he is as a credible CEO.

Worth pointing out that ST has got £65m of OEM orders in the bag with today's OEM5 follow-on order, which is incredibly encouraging, and goes to prove what a great business and management team is being developed up at Knowsley. I think what today shows is the influence of the new NEDs - in order to be a winner against the likes of Brembo, they recognise that they are going to have to move much more quickly to satisfy the OEMs. I for one am delighted by the change -saves money, improves response time , and sets them up for bigger volumes more quickly

The house broker Zeus has this morning upped its share price target modestly from 80p to 85p this morning, but havent revised their forecasts as the OEM 5 revs arent due thro till 2024. Their forecasts are as follows:
2021 2022 2023
Revenue £6.7m £13.1m £16.8m
EBITDA 0.3 m £4.2m £ 6.4m
Pre-tax -£1.4m £2.2m £4.3m

ST is an outstanding hi-tech international business with very high barriers to entry that remains fundamentally undervalued. If this was listed on NASDAQ the valuation would be much higher with this board and management team.

Lets hope the management team behaves responsibly and doesn't 'hyperbolise' (as Trump would say) the hell out of this....given they are all financiers steeped in how to ramp an equity story, I won't hold my breath. They have some interesting prospects but frankly the sp perfromance has been very poor since they raised money from so-called professional investors.....

We could see a run up to mid 120s ahead of FDA decision. Let's hope it comes before the US equity markets show signs of cracking....

were urged repeatedly to take these steps, but buried their heads in sand, threatened shareholders and cravenly waved the white flag. One hopes that there is work ongoing to hold them to account for their abject failure to represent shareholders interests. This is exactly the sort of deal that we were all urging them to do. Scandalous really scandalous but well done CA for cracking on. Now we will see what the bondholders really wanted -company on the cheap or their monies back

As others have noted our esteemed Chair/CEO has zero market credibility given the share price movements after 2 supposedly positive RNS).....and I get that everyone is obsessed with the financial closing (still in the balance). However the bulls of this 'company' have yet to address the issue of what happens if HAA raises the cash? We arent even at Stage One of building a mining company, let alone extracting ore etc.....