Member Info for Fevertreeman

an offtake scheme or advanced by a mining royalties company against future production. However I think its highly unlikely that a Glencore or Trafigura or Anglo etc...would go anywhere near him. Moreover a mining royalites company wants production now not in some yet to be determined date in the future by which time HAA the schemer in chief is likely long gone. Phillip at RAB is probably his only hope

As you point out cash is being burnt though - how is the man paying staff, keeping lights on, paying lawyers in E and SA.

What net assets are those then? The yet to be dug out of the ground assets? The licence assets that may be revoked by the Ethiopians?

Agree totally.

I totally agree. And his too clever by half gimme 500k for doing my day job (via my advisory cypriot consultancy) sums HAa up neatly - total bandit

The AGM statement is the perfect example of the empty communique so beloved of supranational organisations, politicians and PR departments. As someone used to reading/writing/advising/parsing these types of statements, I fail to understand how anyone can suggest this is in anyway bullish? Lots of flim-flam, mother hood and apple comments about tenacious workers , HAA's views on the future gold price, toadying upto RAB Capital. What a load of old c+++ this man spouts

And I counsel caution at the moment.

to run a whelk stall, and this is another tedious groundhog day repetition of every blarney press release he's put out in the last what 3 years? Where is THE MONEY?

as HAa is prone to say, is no mention of any money in place. Instead more vaporware....."all ready to proceed in July with finalisation of detailed documentation and the gaining of formal approvals. We will then trigger the full development programmes for our Tulu Kapi gold project."

Having spent $17m of shareholders monies without consulting on the egregious attempt to steal the company and destroy s/holders, I would be very concerned if I were them that litigation will be being considered by the new board and shareholders.

Apart from his own PA bank manager that is

so will need an injection of cash pronto.

Lots of "pushing" but no concrete progress is my prediction, which is what the market is assuming methinks. HAA will give his usual blusterfest but nothing will have changed....

"Starting full development of the Project is the highest priority for KEFI and the Ethiopian Government. All key stakeholders are pushing hard to finalise preparations ........ KEFI will push to financial closing by the end of July 2021, or as near as possible thereto given the local document registration procedures and the COVID-affected limitations of syndicate parties' physical locations."

Took a holding back at Xmas as I expected it to have a decent performance and run-up into the results. Was disappointed that it couldn't hold onto the gains so sold out c80p. I feel this has legs, but has yet to attract the sort of shrewd interest that could propel it forward. All your points are well made. However its on a punchy P/e of 20x historic so really needs to grow pretty damn fast to justify that rating in my book. One to watch and accumulate on weakness

Also note that the poor sod put up as spokesman is Maris, not the f-------- chairman. The FT's article is instructive:

- failed to push through "controversial financial restructuring that would have virtually wiped out its shareholders".......

- "The plan had been extremely unpopular with shareholders, including activist fund Crystal Amber, Hurricane’s second-largest investor with a stake of more than 11 per cent."

- The FT calls it a " lengthy judgment 2 and quotes Zacaroli directly : “despite the fact that there is projected to be a shortfall between available cash and the sum required to redeem the bonds at maturity”, there is a “reasonable possibility itcould be bridged”.

- The FT writing on this is a measure of how far this BOD has strayed from their duties imho.

That is a very good question. The Board's behaviour, lack of transparency etc over an anonymous 'ad hoc' group (as opposed to its own damn shareholders) is utterly disgraceful. We have no visibility at all on the terms of the agreements.

Their behaviour as a collective has been disgraceful from the start of this debacle:

1. They take their monies , fail to financially support the company throughout the last few years
2. They fail to exercise any competence or control over Dr T
3. They then throw him under bus w/o any self-examination of their roles
4. Terrified by the American bondholders (and rottweiler advisers) and totally out of their depth, they embark on what looks like an orchestrated campaign to undermine their own company, trying to pass the buck to the b/holders..."Its nothing to do with us"
5. They have effectively become an arm of an unknown group of bondholders, effectively refusing to carry out e3hri proper roles as directors in terms of looking after the interests of all stakeholders
6. They muzzle any discussion or debate
7. They hold a gun to s/holders heads
8. They spend $17m of shareholders funds cooking up the most egregious scheme of value transference even by the standards of AIM its been my displeasure to encounter
9. The view of the Judge is utterly damning.If I were the chairman I would seriously be looking at my D&O insurance package.
10. I would rather this business goes under than have this incompetent, craven, discredited BoD and their greedy advisers hand over the cashflow and bank balance to a bunch of carpetbaggers

truly truly disgraceful.

Board changes look very sub optimal. All mates or relations of Serge - no wonder the share price dropped 5%.....increasingly looks like this is being positioned to come off the public markets with a bunch of financiers as NEDs. Very underwhelming news

Information memoranda and a useful tool at that. The biggest player in this arena are Edison who have an excellent track record and produce some very useful materials, but never forget that the revenue model is paid for by the companies....

It is like watching children squabble in the playground here......Companies commission research from the likes of Hardman and Equity Capital as a way of getting through to investors in the absence of major outfits committing scarce research resources to them. . The brokers are paid a fee by the company for writing reports. Although the research is 'independent' , inevitably there is always an element of confirmation bias involved as there would be when the house broker writes on a company.