Member Info for Fevertreeman

With a French PE specialist on board and the Old Man' stake hovering in takeover territory, there is something going on in my opinion. Then we had the CFO selling his shares a few weeks back, and now we have this odd trading update which they must have known about when the results came out the other week. All very odd. Are we going to see an announcement from Serge with the interims?

Would be my question to the Executive Chairman, which sadly is unlikely to get answered

Normally its the SID who has a quiet word but Angostora Bitters is Executive Chairman and Keeper of the Cashbox.....he really should be asked to go, as most investors here have lost faith, as I think have some of his African friends. With another broken deadline to add to the list, its getting squeaky bum time and my prior worries about timings are starting to feel ominously prescient. It's not just a matter of will Kefi get ANY Funding from Ethiopia before elections (I doubt it personally) but will the much needed cash be in the bank before we see a US market rout ( highly probable imho), in which case the mine may not actually get built.

Proactive Investors statement sums it up - we have no executive management team making any executive management decisions; we had a chairman intent on walking away from the mess he helped create; and a board of NEDs who have not backed the company by deed word or with their own money

He was sold an utterly false prospectus imho. The chairman & NEDs needed a patsy and he needed a job, but I can't believe that he knew the mess he was walking into or that he would have all executive authority ripped away from him by a craven Board

"Legend in investing circles".... that made me laugh out loud. Legend in trading circles, not in investing circles, as anyone who knows him can attest. Still I won't knock the old feller, he has had some serious coups in his time, and the markets are his life (along with gambling on the gee gees)

Assuming that things continue to hum along nicely and we get some decent contract announcements, eventually international investors will start to become aware of the company. And if that happens, there will be plenty of support for this company exploring a listing on NASDAQ. The ratings afforded companies like this - hi-tech, world leaders benefitting from global industry transformation - and access to capital is so much easier in the US, where, and I know this from experience, the investment community has a higher tolerance for risk, understand tech better, and there is more specialist analyst and investor resource available. No surprise that Baillie Gifford Scottish Mortgage Trust has been so successful as James Anderson was ahead of most listed investors (not the PE crowd) in recognising that hi -tech companies are much better understood (and backed ) in the US. Early days I know on the ST journey but the scope for this business to become an international leader is huge.

Half decent RNs but note again, CEO gagged from any comment giving him ownership of the business. Wtf is the Board of Directors doing here? No leadership visible (or invisible). Only leadership being displayed by Crytal Amber, who quite rightly are hacked off with a Board that seems to be hell-bent on destroying value for shareholders.
Normally one would expect some comment from the CEO but again, nothing from Maris - no comment about being pleased, excited, disappointed, no context, no forward mentions...sfa from the CEO. Wtf is the Board paid for. With this out of the way, clear run for Crystal Amber to make their move . Could be an interesting few weeks.

And if there is no activity slated for the next 6-12 months, beyond making sure there is room in the bank vault for the next off-loading, what on earth is the Board of Directors and Exec team doing to earn their fees and salaries. Am surprised that Maris didn't resign the moment he realised he had been set up by McTiernan and Smith......

Notwithstanding the guilty men/women on the Board not holding Trice to a/c (so much for their vaunted industry expertise that failed to interrogate properly the original CPR), the fact that they now seem hell-bent on shutting the company & running away, just speaks to the fact they are utterly out of their depth. Hiring Evercore to do their thinking for them just speaks volumes. As Slift has correctly pointed out HUR could/should be attempting to
1. Restructure current bond debt OR
2. Secure new debt (new investors, banks etc.) to pay off CB and fund a more attractive FWP.

This shouldn't be too difficult if the bondholders had been properly managed. It all went pear-shaped when the Board kitchen-sinked the reserves, leaving bondholders with no incentive to play ball. Scandalous

Along the lines of...do we even know that preparations works are being carried out beyond some maps and a few photos.... when s/holders start questions whether this isn't just a massive scam then clearly the tide is turning for the management and company.

but Ivan the Empire builder is moving on and who knows what the successor thinks.

I agree with all your points except, except.....this is never going to get to a billion quid company with H involved, and frankly the only way that shareholders will monetise significant value in this is if a major player comes along and buys Kefi, and given the market cap, that isnt going to be a billion quid. The other question is why aren't the majors in Ethiopia - gien it supposedly the promised land. Two reasons spring to mind (1) Must be viewed as reallly not worth the candle given the time horizons, and lack of jurisdictional & political certainty. Quite something if true, given the big players are all over rest of Africa (2)The Ethiopians have deliberately kept them out as easier to manage/control a tiny explorer led by a greedy muppet like Angostura Bitters to be their patsy than a grown-up corporate, who would make life much harder for them.
They clearly dont take him seriously. And nor should we any more. The monies will not be forthcoming, the Saudis will have noted HAA's continued inability to get funding over the line. It's a shocker

By the time any sort of funding is imminent, US markets will most likely have cracked given the ridiculously overvaluation visible on every sensible metric one cares to look at. At that point, the financing window will shut quicker that a Scotsman wallet, and this will be put permanently on ice. Not to be able to get funding across the line, in a zero-interest world awash with cash, in a country supposedly crying out for hard currency speaks volumes about the lack of trust, competence, and honesty of this management team, and particularly of the ludicrous Executive Chairman, who must be a laughing stock by now among the Ethiopians and Saudis.

I said I would boil and eat my panama hat if Slippery Angostura Bitters met his own self-imposed deadline of funding done and dusted by end March. Well the date came and went, and lo, this morning this buffoon did it again. When will he be bought to book? All very well talking about assets in the ground (and H is not a mining engineer, nor project manager, nor building constructor-type) without having cash to build the bloody thing (and lets not forget folks that MONEY is supposed to be his thing). He is an out and out charlatan. Could the Ethiopians be having second thoughts about his involvement? All very well talking about difficulty getting projects up and running in these jurisdictions, but plenty of other companies have managed it. And wtf is he doing typing that line "Its all systems go..." It f--------- well isnt is it !!!!

He is an utter confidence trickster. Chances are that this mine never gets to be built, but by that time The Greek will have trousered a ton of cash and expenses and waltzed off into the sunset. What a total liar

The Greek does it again. He makes Pinocchio look like a soothsayer. How the hell can he continue to claim black is white after his constant bare-faced dissembling. There has been absolutely no progress of any consequence made on the financing at all since last Oct. usual tactic from him to release teaser about resources in Saudi then hit the s/holders with this crap. He should be fired

CA have a decent track record, I might add based on fundamentals, so that is what activists do.....Dela Rue is a great example believe me....

CA will be pushing on an open door given the utter, craven incompetence of the Board. let's name the guilty parties, in case any of you have the misfortune to meet them at a drinks party, dinner, wedding, funeral, christening, charity event or just accidently socially. They are Steven McTiernan (chairman, whose job is to lead the board, challenge and support eh executive, and reflect the views of the shareholders - null points on all fronts), CFO Richard Chaffe (what a total waste of space); Anthony Maris CEO (in name only); Beverley (I'd rather be in Trinidad) Smith ; Sandy Shaw (who she); Dr David Jenkins (who he?); John van der Welle (who he). Between they have backed the future of the company, but only into a corner.....so come on Crystal Amber you have our blessing

perhaps he can suggest to Kingston Business School for the class of 2021