Member Info for Fevertreeman

Absolutely correct....the missing link is that all this needs to be paid for and in the absence of any signed financing, it is my view that another fund raise is inevitable......this is why HAA put out the RNS now imho

Agreed ! Angostura Bitters is at it again....

I too was awaiting some concrete news on the financing, which as you noted was conspicious by its absence.
This activity based RNS with its mention of employment numbers etc is exactly what you'd expect from HAA before an other cash raise

Totally concur with your viewpoint, except the one about HAA's true skill being negotiation.....that may well have been the case in years gone past, but his touch seems to have deserted him, and his constant 'truth-stretching' and failure to deliver is now so blatant that even the Ethiopians are now starting to suspect that Kefi is not a go-to partner that it once seemed.....leaving aside the issue of the financing and share price, as others have pointed out he continues to burn through cash as he must in order keep momentum on the ground...GHe is going to have to raise more funds because he is running out of cash....delay after delay after delay just makes him more desperate

Good to know I’m not the only one thinking that the chairman is never going to deliver the financing and will stiff equity holders with another fund raise

Don't disagree at all with your comments - and patient investing is what its all about BUT there needs to be other ingredients: a decent strategy & equity story, transparent comms, decent Board, a solid/promising market position/assets or recovery story, and most of all Trust in management to deliver. Stupidly for me, I believed the HAA myth......I'll stick to holding Strix, Saga, Bab****, Renewi, Bloomsbury, Surface Transforms and Angle Tech.

Agree with your assessment. Mt Market has quite rightly steered clear of these Oil&Ego businesses on AIM. We've had the disaster that is Hurricane and Trice; the disgraceful shambles that was Giles Clarke and Amerisur and this can of egotistic worms.

https://puntlandpost.net/2021/05/28/ethiopias-fall-from-grace/

Not if the game's rigged...........

I am out completely now, but very angry with HAA who should never have been allowed to combine his ceo with executive chairman roles after death of previous NED chairman

Thats a good call..........I reckon you'll be able to buy back in substantially below where we are shortly

"All parties involved in the Project are extremely busy closing the financing and development preparations as outlined in the Company's recent announcements."

"KEFI remains focused on completing preparations for full Project launch as soon as possible after the Company's Annual General Meeting, which will be convened in due course for a date before the end of June 2021.".

In other words, open-ended as to when, if ever, monies come in. Note the very clever wording that now links 'financing' with 'development preparations' . Is that the cop-out H needs to announce a further delay, citing that financing and project development have to be looked at as a single package etc.....Cluster ++++ on the horizon

My prediction is that this craters soon

3m is a drop in theh ocean of the 2bn shares the idiot has issued......its about £60,000 worth so hardly material. That said I would not want obe holding my shares when HAA comes out with the inevitable "No progress" RNS.

I wish you all the best

There seems to be a gathering consensus that for LTHs this is now a' hit n hope' investment. Anyone who bought in on the fundamentals since HAA cast his spell has been utterly shafted time and time again:
1) Timetables mean nothing to HAA as he has tried to keep the plates juggling....and now finally it looks like its all going to topple over
2) His skills as a financier have been shown to be utterly woeful. In a world awash with cash he has been too stupid, too greedy, too incompetent and too naive to manage the process, and we still have zip...

3) His project management skills have been seen to be non-existent and we have yet to have a mine established let alone financing in place after how many broken promises.Methinks the Saudis wont want him involved....

On the other hand....4) His skills at feathering his own nest have been shown to be Olympic-class as s/holders fund his lifestyle into retirement thro share options, pension contribs , salary etc

And whilst s/o mentioned RAB Capital keeping an eye on things, you must be having a laugh as Phillip managed to get his stake from a desperate Harry at 0.6p so is laughing all the way to the bank already.

Gold is in tricky territory at the mo....if US rates go up as they will, so will the dollar and gold is likely to leg down for a while.

Well PL has done it before.....acting as his own personal bank to our company. Setting up side hustles; destroying s/holderr value on an epic scale whilst ensuring that whatever happens he makes lots of money. No wonder all his professional advisers have jumped ship -they recognise that his behaviour is hardly in the spirit of running a listed company.

Wise thoughts! This character has form when it comes to stiffing shareholders

I have serious doubts now about what H will be announcing at AGM. I fear one of two versions (1) a further delay entailing another equity raise or (2) H trumpeting a signed financing deal that falls well short of the number we have been told to expect, accompanied by .... another equity raise......anybody out there got a view? The domino effect of continued delays is going to cost us dear as shareholders......