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WI has said the same thing more than once regarding the Chinese being blocked for political reasons, then retracted a few days later. There is probably some truth in it.
Maxit may need to explore other options e.g Abu Dhabi and Saudi funds.
If politicians won't allow a sale to the Chinese as WI is suggesting in the video and BHP etc aren't interested, perhaps the Abu Dhabi Investment Authority or Saudi Arabia Public Investment Fund invest in projects like Cascabel?
"The Company expects binding terms to be entered into within the next month or so subject to ongoing successful satisfaction of outstanding conditions precedent which are normal for a transaction of this nature"
"...next month or so" - leaves it open-ended in terms of timescale
and
"subject to ongoing successful satisfaction of outstanding conditions precedent which are normal for a transaction of this nature" - an equivalent to this line has been there every year for the last x number of years (though we've never been told by Harry what these conditions are. It is these outstanding conditions which are never fulfilled for the funding to be approved.
Someone should report these guys to the FCA. They are using the above to fleece private investors every year. Seems like a corporate scam happening under the 'blind eye' of the FCA.
Fair do's FiveCandles. Though I do believe Harry will string us along regarding the funding sign-off until the AGM. Then nothing will happen and we'll have a repeat of the same shenanigans next year when more funds are required.
FiveCandles - it seems you've just very recently bought some Kefi shares and are now trying your best to talk other people into buying so the SP rises. Unfortunately no amount of talk on a bulletin board is going affect the KEFI share price. There are just too many shares in issue.
I don't think any shareholder wants the company to fail. However, I do believe Harry is not wholly honest about Tulu Kapi. He is just stringing shareholders along and has been doing so for the last five years. For this reason, as a point of principle a red flag needs to be raised. Nobody should be allowed to 'rob' people by hiding behind a company.
Starresnstoff - Please see example below :
Tulu Kapi Full Funding Package Assembled
23 Aug 2021 07:00
RNS Number : 3906J
Kefi Gold and Copper PLC
23 August 2021
23 August 2021
KEFI Gold and Copper plc
("KEFI" or the "Company")
Tulu Kapi Full Funding Package Assembled
Enlarged funding package structured to enable start of Tulu Kapi development at the end of the Ethiopian wet season
KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to report that it has now assembled the full funding package of US$356 million estimated to be required for the development of the Company's Tulu Kapi Gold project ("Tulu Kapi" or the "Project") by KEFI subsidiary Tulu Kapi Gold Mines Share Company ("TKGM"). This package is designed to fund all infrastructure, the start-up of the open pit mine and the initial development of the underground mine.
Highlights
· Tulu Kapi full funding package of US$356 million assembled
· Enlarged funding package now covers full development of Tulu Kapi, including initial underground development
· Financial completion through the signing of binding documentation and the launch of full development expected at the end of the Ethiopian wet season in October 2021
· KEFI to retain c.70% interest in TKGM
Bear - let's see how things play out over the next couple of months. I hope I'm proven wrong, however I don't think the Ethiopian Government or the banks are going to be signing-off on Tulu Kapi in the near future. The only timescales and project information we have, are the ones from Harry and he's been saying next month for the last five years. It's not happened in the last five years, I don't think it's happening in the next five. Harry's duping everyone.
In my opinion, we private investors should vote down all the resolutions at this year's AGM. This is one company in which individual private investors votes could have a major impact. Take a look at the share register, not many shares are held by institutions.
FC - if you haven't looked at the previous five years' RNS's in relation Tulu Kapi funding, I think you should. You'll find almost exactly the same wording and the timescales always seem to suggest the funding is imminent with words like: "The Company expects binding terms to be entered into within the next month or so subject to ongoing successful satisfaction of outstanding conditions precedent which are normal for a transaction of this nature; ".
It's never mentioned what the 'outstanding conditions' are. Just that they are normal for this type of transaction. However, we do know these 'outstanding conditions' have not been satisfied in the last five years. I think Harry and his friends are just dragging this out while they raise money to fund their lifestyle each year. Going off the last five years, sadly I don't believe Tulu Kapi will be happening any time soon.