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Anyone's welcome here - just as long as they don't post relentlessly and monopolise the board, it serves no purpose than to keep us up the leaderboard and annoy lth's and invested posters.

Meanwhile have to say the sp is looking much better after the recent nonsense lows.

New posters, that's all we need!

Spread closed now 1.38/1.41.

While we are discussing this the sp has been quietly moving up, now 1.38/1.45 on HL.

I agree with CT fwiw.

Another company with enough cash would simply buy the parent company, everything else comes with it. New owner may then decide to offload the bits they don't want.

Isn't even a hurdle. In the updated presentation it says "US$100 million equity-risk capital assembled at subsidiary level and now being finalised".

Note 'assembled', not 'we still have to find $100m' or even the remaining $60m, just a matter of Harry selecting the best fit for Kefi to retain the highest percentage he can, then get it all signed off and the deal finalised.

Now simply a case of holding on to your shares - don't let them go cheap unless you need liquidity - and wait for the inevitable re-rate.

Still waiting for the last re-rate though so no one really knows what will happen although I hope nailing the final piece of the jigsaw will mean something.

@ tml1 - I'm as surprised as anyone that this didn't surge to at least 3p on sign-off and make no excuse for my expectation that it would; based on all the evidence available and that the $240m signing was such a significant milestone - and how long it's taken to get here - should easily have done so imo.

Initial surge to near-2p was immediately wiped out by sellers/profit-takers and what can only be described as a bewildering market reaction considering the news.

And I don't think we can really blame Harry or anyone else for what has happened, other than to say that Harry's credibility probably not very high as even recent short-term targets were dragged out longer than expected.

The next $100m equity should hopefully be a done deal, virtually, and the meetings in November will get this over the line with any luck and no further delays.

Maybe then we will see the re-rate that should have happened already.

Happy to wait a little longer for 3p+, 4p-5p and I'll be ecstatic.

Down to 1.31 to sell on HL now, that's just silly.

I agree, excellent interview. Sure, Harry looked a bit tired but imagine the last few weeks have been hard work and some sleepless nights, so hardly surprising. Also sure he'll have a short rest, re-group and go again.

Good to see he was as bemused as any of us by the sell off but totally get his thinking that someone needed liquidity, been there myself.

Also likely that plenty just decided to cash in or take profit and nothing wrong with that.

Let's wait for the dust to settle and the re-rate to begin.

@StephenX - No, me either, will never understand why you'd wait for news then sell at a lower price after news. Bizarre.

Thanks Stebo.

I would expect the sp to recover from where it is now (1.4p, seriously?!) to a more respectable level over the course of this week and next, with the equity completion proving the next catalyst to the sp.

Although based on the reaction to yesteday's major news it'll probably drop to a penny after that!

Stock markets eh?

It's an attractive figure but a long wait to get to it.

Crucially, the same report also reiterates Kefi's NPV on start-up from March:

"In March, KEFI calculated an updated project NPV for Tulu Kapi of c US$690m at construction start, at a conservative long-term gold price of US$2,400/oz, of which KEFI’s c 80% share is worth US$552m, or £411m (4.33p/share), pro rata. Its 15% interests in Jibal Qutman and Hawiah potentially add a further 0.48p/share to this figure, to take the total to 4.82p/share".

The gold price is way north of that and likely to increase further and the Saudi interests hang in the balance, although if sold would increase Kefi's balance sheet. Quite how all that feeds into today's sp or the potential near-term sp I'm not sure, perhaps someone a bit smarter than me might have some idea?

Or hold some for gold, at least.

The $240m debt facility is the key that unlocks the door to the next $100m equity-risk capital, hopefully within the coming month, and everything else we need to know is already in black & white, so with any luck it's only a matter of time before Kefi reaches it's true potential. Fisrt gold in 2027.

The question is how long any of us are prepared to wait for that or to get to a target price we are content with, and also personal liquidity; I decided some time ago that I wouldn't invest any more money into my pf as previous errors and bad luck have cost me dearly, so I only have whatever is in my pf to work with. Unfortunately this means I occasionally have to sell something to take advantage of other opportunities and may have to do so here, but will certainly retain at least 50% of my holding for the real prize.

Of course, that all depends what happens next/soon/in the next 6 months.

Whether the equity is raised at subsidiary level - Kefi's interest is reduced - or they raise via a placing or Retail Offer will have the same effect as PI's have a smaller piece of today's pie? Does that sound right?

Still a big tasty pie though. Mmmm... pie....

Or was the drop on news because "The equity-capital arrangements about to be implemented are expected to reduce KEFI shareholders' beneficial interest in the Project to the range of 70-85%" and some holders either hadn't realised this, or were spooked by the prospect?

Just a thought.

That being the case, why the drop to a low of 1.3p?

Nothing less.

It's taken a while to get here (!) and the last 1-7 weeks have been frustrating, but Kefi now has the $240m funding signed with $100m risk-equity package to follow, and even the mention of dividends further down the line.

Game on.

Makes me laugh (?) how the sp initially spiked (to 1.99p?) before then falling off a cliff. I don't think I will ever understand the stock market.

Just logged in to see all this, wtf happened?

So, $240m finance signed (hurrah! great, great news!!), £100m equity package to follow (not ideal but will happen), everything on the ground is on track (also good news), no simultaneous placing announced (good news and happy to be wrong, and not too proud to admit it!), and yet....

... the sp closed at 1.43p to sell on HL? Not what I was expecting or hoping for, although have seen plenty of holdings drop on good news so shouldn't be too surprised.

Looks like crazy trading this afternoon, holders selling on news and MM's triggering stop losses left, right and centre.

Tomorrow will hopefully be a better day when the news is properly digested and the sp rebounds, with hopefully a re-rate to a decent value this week.

At least I hope so.

Thanks Stebo, appreciate that.

For sure the movement of PI shares into II hands will have an impact, research of past mining operations supports that so should be no different here. I've done plenty of sums too but with so many permutations it's hard to pin down an accurate figure; also, have done that in the past with other investments but then reality nothing like I had calculated or hoped for, hence I take a 'view' based on everything I know or think I know.

Also, this is Kefi, Harry still has a lot of work to do to restore confidence here even when the finance is signed off, although that should help.

Maybe not get frustrated with other poster's comments, trying to help is a good thing but if others don't want to listen then that's their lookout. Personally, I try to take it all on board and take a balanced view, hopefully.

Cheers.

ps. If I think 10p is on the cards at any point I will hold, hold, hold and probably wet myself. Ooh...