Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Losing money is part of investing, we work on probabilities. What I don’t like is being lied to by the management team. When they keep changing the narrative and that narrative has zero value anyway and take us all for morons. The management team are involved in a few companies so again, probability is high that these guys fail in those companies as well. I will listen to the Micky Mouse show on Tuesday and ask questions about Cameroon progress if any, see if I get any answers.
Honestly what are they going to talk about for the Micky Mouse presentation next week, absolutely pointless.
They have done a few of these already this year, both worthless followed by a fundraiser.
It’s not even in their control at Senala, they said this in the last Micky Mouse presentation, so why go over some old bits of paper that’s already known and they don’t control.
All we care about is when are they going to start drilling again and then the results, which they don’t even know. They didn’t even know they had stopped drilling or didn’t care to inform us. We were suppose to have results in October, Q4 this year.
We also want to hear about progress on Cameroon. The only thing they said they have some degree of control over, exciting new gold frontier they said, yet they don’t even want to talk about Cameroon next week. What happened to the drill and when will they start drilling in Cameroon.
Tim said they were going to fly out there to Cameroon, looks like he is still sat at home just waffling on.
Their pointless presentations are beginning to look cheap, all smoke and mirrors buying themselves time, or at the cost of share holders and it’s reflected in the share price going down.
One minute they say the Senala, Senegal project is out of our control, we wait for Iamgold, they make the decisions, been delayed over 3 months now. And they still haven't officially started drilling yet since it stopped raining. And now Oriole want to give us a presentation on it. What is the fricken point, a complete waste of time, focus on Cameroon.
Just raised £2 million, where is the progress on Cameroon, has that now been put on the back burner, was it just a smokescreen for the raise in capital. Absolute Zero progress made there so far. Apparently they were suppose to fly out there, no restrictions for business.
Also what about sale of non core assets, or monies owed from Turkey again, nothing against a backdrop of the Turkish Lira being decimated. **** up in a brewery springs to mind, Turkish team just stay on the gravy train free loading.
The board talk about since they came in they inherited this company and not to judge them on previous management dealings.
Well so far they have only diluted us, two fund raises this year and zero progress. Against a backdrop of rising gold prices.
A complete shower of ****e this year by the board.
They have created zero share holder value, pigs in a trough, lifestyle company.
In the meantime we have to listen to another Micky mouse presentation on old data. Completely Pointless.
Chesser Resources next door made it happen in quick time, what the hell is our excuse.
This is just my rant of an opinion.
Thanks NicetoMichu, much appreciated for your plausible explanation.
I wasn’t aware of the background to the stock.
The round number sells gave me the impression it’s an ii selling at any price, I guess I should have asked the question why is there an ii selling.
I have literally just looked at the fundamentals for the company, which all stack up nicely.
News rich period ahead, board seem eager to please and be positive for a big turnaround story. Debt restructuring for the Argentine government, I’m bullish on Oil price being the lifeblood of the US Stock market and they want to keep propping it up.
The historical web of finance for the company not too familiar but like you said, more positive News should break the dynamic and the ii run out of ammunition.
We go again tomorrow.
I don't understand the weakness in the Share Price. Seems to be a constant seller smashing it down.
The Company seems to be making an effort with the positive news flow via twitter with the work-overs and testing. All positive news so far the past few weeks. Looks to be even more positive news coming in the next few weeks and beyond with increase in production coming on stream.
Feel like I'm missing something here........................
A little bit of attention I see in the share price.
3 weeks to go for Q4 when news from Senegal is expected, the big one from Iamgold results.
Cameroon Licenses still waiting.
Tit bits from Turkey and wherever else a bonus as usual.
Solid Gold price, expected to rise as USD weakens.
https://seekingalpha.com/article/4369382-iamgold-all-smoke-no-fire?utm_medium=email&utm_source=seeking_alpha&mail_subject=fun-trading-iamgold-all-smoke-but-no-fire&utm_campaign=rta-author-article&utm_content=link-1
Interesting read on Iamgold our partners for the Senala Gold Project.
All the more reason for them to prove up the Senala resource and develop it.
The results from the Senala Gold Project are not due until Q4, so another 6-8 weeks away at the earliest.
Cameroon projects news can be any time.
With regards to these Tit bits being sold off in Turkey or wherever I'm not bothered, just as long as they don't cost the company money. I don't expect any of them to be paid up in full from Turkey, they should just really demand payment upfront for everything rather than getting taking for a ride every time. They've had problems there continuously. Cost the company over £1,000,0000 when some bloke went to jail, ridiculous trying to do business there.
So they should just play hard ball, with the Turkish Lira being smashed to pieces at the minute, printing money, country is going to hell. Gold is in high demand, so surely they could get payments for these Gold prospects in full and move on.
Ah ok, thanks Dan.
Hey Dan,
What do you mean by the 280 Trade you mentioned on Twatter?
Cheers.
Here is the link for the ship loading next Wednesday 5th August at Macapa - Santana Port 45,000 tons of Copper.
http://serveporto.com.br/macapa/
the form of satisfaction of your credit. It only allows the sale of iron ore, taking advantage of the high price in international trade, to support the payment of labor and low-income creditors, an imposing measure in view of the impasse in the negotiations. The proceeds from the sale will be deposited in a judicial account and released under the supervision of the Judicial Administrator, for the satisfaction of the aforementioned creditors and for the reimbursement's operating expenses. In addition, all cautions mentioned by Judicial Administrator 17.231 / 17.232 must be observed, which satisfactorily serve the interests of the Banking Union and other creditors. For this reason, I maintain the sale authorization, with the precautions mentioned above, providing the embargoes in that part. 8- Pages 17.098 / 17.100 (Public Ministry of Labor informs that incident No. 1072816-27.2018.8.26.0100 was judged and recognized in the amount of R $ 125,000.00 in favor of the ILO International Labor Organization). Science to the Judicial Administrator for the inclusion of the value in the QGC in due time. 9- Fls. 17,108 (Brasfelt Ltda. Informs bank details). Science to the Recovering and the Judicial Administrator. 10 - Pages 17.203 / 17.206 (Judicial Administrator suggests that labor creditors inform their bank details and personal data through the "website" https://administracaojudicial.kpmg.com.br, in the "Contact" tab, or that they present a specific power of attorney granted for the receipt of credits). I agree with the request made by AJ. Due to the duty of procedural collaboration, the LABOR creditors must inform their bank details EXCLUSIVELY to AJ, through the electronic address: https://administracaojudicial.kpmg.com.br, in the "Contact" tab, avoiding petitions in the records, which only hinder the overburdened notary service. It is stated that the transfer of amounts will only be authorized on behalf of third parties, by means of a current and specific power of attorney. 11- Fls. 17.227 (Union of Banks requires the Judicial Administrator to inform "the status of the delivery of iron ore from Zamin to Gerald Metals SA, in compliance with the judicial recovery plan), Pages 17.318 / 17.319 (Judicial Administrator requires the subpoena of Recuperanda and Geralds Metals SA to clarify the progress of the donation in payment of iron ore provided for in the PRJ), Pages 17.326 / 17.331 (Geralds Metals SA responds to the statement by the Judicial Administrator of pages 17.318 / 17.319 to explain its right to receive stockpiled iron ore): The Union of Banks is shown. 12 - Pages 17.289 / 17.294 (Office of the Amapá Court of Justice) and Pages 17.300 / 17302 (Judicial Administrator clarifies that the office of the MM. Santana Civil Court / AP, referring to Enforcement No. 0009190-35.2014.8.03.0002, refers to the redistribution of this action and the transfer of the amounts it constrains to that court. 90-35.2014.8.03.0002). I grant. Take advantage of the Capital
EMH news welcome bonus, I wasn't expecting the green revolution to kick off until later in the year or early 2021. This also paves the way for more interest in our other darling 30% interest JV with Bacanora.
Anyway, I'm here for the Iron Ore Exports next week from Brazil, if that goes ahead then that would be something company changing. Then we should get multibagger in the share price.
Shippping schedule still set, just over a week to wait.
I really thought Harry was doing his best to fudge this up, it seemed ridiculous how he was messing this up.
But the planets have aligned, GOLD BOOM, COPPER BOOM, surely he can't fudge this up now.
It has to multi bag, 100 million Market Cap minimum.
Saudi Arabia results and Ethiopia funding.
The guys in charge seem to know their stuff, top class and this could really be a lifetime career defining opportunity for them, starting from a £3 million market cap, the potential upside here could be incredible.
The Iamgold setup in Senegal is a potential blockbuster to the upside on its own.
Then their own blue sky projects in Cameroon.
Gold is the place to be right now so this is all coming together at the right time.
Well played Topsharepicks, you remained objective and profited accordingly.
Finally the ANS debacle has been sorted, it was a complete embarrassment for everyone.
If this is indeed suppose to be the flagship mine for Ethiopia, seems like it had been commandeered by Pirates.
Surely the project figures are compelling, obviously only available to people with deep pockets in the millions, but in relative terms, in today's climate, should be an easy decision, a multiple return on investment.
Anyway, so Saudi Arabia positive news and funding to come, surely upside must follow.
If no funding by October then I really have to sell up and move on, the time wasted would be clinically insane.
Either Harry is seriously incompetent or this whole charade is a farce.
Raises money at share price lows, Gold price is up around +80% in 5 years.
Kefi Share price in the past 5 years down over -90%.
I understand the problems in the past, bad luck, country problems whatever.
But the last 12 months how do you not get this over the line or positive progress being made.
This insane situation I can only come to the conclusion that its a complete lifestyle company.
Ultimately I'm annoyed with myself for investing, being human looking at the summary of the project. Where as if I had done some 'actual digging' unlike this company I would have realised its a complete and utter farce.
So what's next, update on Saudi Arabia, great, if this project is so great then why did we lose 6% because we didn't fund it this year see below;
Dilution in Gold and Minerals
During 2020 the Company diluted its interest in the Saudi joint-venture company Gold and Minerals
Limited ("G&M") from 40% to 34% by not contributing its pro rata share of expenses to G&M. Given
the positive results seen to date from the current drilling program, KEFI expects to fund its pro rata
share going forward.
And to top it all off we need to raise even more capital in the next few months otherwise the lights go out........................................Absolute bucket of ****.
I knew the fund raise was coming as they are low on cash, I was trying to sell yesterday thinking the fund raise might be really low around .20p but its so illiquid it was impossible to sell without taking all day doing it in drips an drabs.
However, really happy with the fund raise price today at .30, no warrants attached either so all in all glad I stayed put.
So now just wait for drilling on Cameroon and Iamgold in Senegal.
Simply can't be any more excuses for funding in not getting this mine developed.
When Gold prices at all time high, no more excuses are acceptable.
If this is all a big hoax by the Ethiopian government and ANS, then why would any company want to invest in Ethiopia if Tulu Kapi is the so called Flag ship of mining development in the country.
I could understand if Gold price was on its arse, but its smashing all time highs, what more do you want for a green light signal.