Member Info for Simms45

I have a feeling company will pump this stock and do a placing. Thats there model last 5 years and gold mines take 10 years on average to build with no income so factor in 2-4 placings a year guaranteed and massive overhang.

At least we are now a month closer to first pour and June will fly by leaving just 4 months to commissioning and 6 to official first pour. Crazy undervalued but more meat needed to convince the unconvinced. Current market cap is less than 1 years FCF for La India so pretty obvious investors will pile in shortly. Question is are you locked and loaded for the next big rise over 20p that will come from any news on Runruno plan or substation completed. Summer is going to be glorious for Metals holders!

And once the overhang clears we are going to explode north. We have everytime after a placing going back 5 years if you look at the way placings get finally sorted and we shoot up to a better valuation that for me is north of 2p today. This is the next landing and i expect it very soon.

You are exactly correct that if anyone was interested this is basically buying a seat at the table with probably the most connected Saudi family with a lot of plum prospects and licenses built from being "first cab in the rank" in Saudi. In reality this is worth way way more as you just cant buy this access and i think Harry is just valuing the asset for many reasons, not least it is valued at 0 today on the books so builds our asset base and gives us lending options. Even if they did decide to sell (i really hope they dont as it will be a worth a $1bn in a few years) someone like Newmont make $200m in a few days so not even a serious amount of money. We need to hit 2p very soon or Kefi will get taken over. why would Newmont etc pay $150m+ for Saudi only when they could offer not a lot more for whole company. We are at a bonkers valuation and Harry needs to sort out this mess fast as once kefi has an offer Harry will be first out the door i suspect.

Fantasy i am not referring to traders or jilted investors but serious long-term investors that probably now account for 50% of the share register. these investors will not entertain lowball offers regardless of a smaller contingent of pis. why take 2p when by first pour you would be in line for 10-20p + a growing chorus of when dividends will be announced and the level of that. If for example Kefi sold Saudi outright for $50-$100m or thereabouts that is almost 50% of our value today and nobody even values that today. Personally i want to keep Saudi as if we get a listing in Saudi the backing and support is huge and valuations are very impressive so we could have a far more valuable asset in the future once JQ is live.

GQ if you actually listen to most presentations we already have inbuilt a decent buffer for issues. I think we will come in under budget and ahead of schedule as Lycopodium are well known to delivering ahead of schedule. Re-rate when it comes will be big and i think 2p will come and go. we just appear to have a placing holder exiting. Not something we do not know about as i cant remember any placing where there was not always a seller at the pricing price. While its frustrating is it literally free money for those buying at these levels. the price today is completely artificial and bears no relation to the actual value of the company. The simplest question to ask is if a buyer offered 2p today would anyone seriously entertain it? Clearly no serious investor would as this could be a single dividend payment in 2029 so its a non starter. Even 5p might not cut the mustard as the serious investors are looking for 15p+ and 1.5p+ dividends for 10-20 years from 2028 as you cant find these opportunities that are 10-20x from todays price. Certainly Harry has frustrated us with these dilutive placings but i do think without Iran issue we would not have done down this route. However while in the short-term there is some pain in the long term it means a lot more cash for dividends.

If you look at Kefis recent report in April 2026 this is spelled out pretty comprehensively.

High Cash Flow Returns from Tulu Kapi, showing range of dividends net to KEFI:

■ Net Cash to KEFI at $3,000/oz gold: $224M pa5

■ Net Cash to KEFI at $5,000/oz gold: $421M pa5

Basically run the fully diluted number and you get a dividend between 1.16 - 2.29p per share. i am being pessimistic and going with 1.5p as i assume gold will smash $5k and Kefi will hold a few hundred million back for a rainy day. Lets be really pessimistic and go with 1p that would be due if gold is $3k but personally i am expecting gold to smash $6k going into 2027 but once you recovered your capital in 2 years time them rest is free and dividends will only rise substantially thereafter once underground kicks in and when Saudi comes on stream. Shareprice of 15-25p is very obvious by this point. Sooner people start to read Kefi reports the more they will see the obvious that we are a screaming BUY!

Yes. i cant see us less than 35p once the gold starts pouring at La India. Might take a quarter or so to confirm we are flying but the FCF is crazy and unless DB has a very big purchases on the horizon returning $200m in dividends a year is not unlikely and that is 50% of todays market cap. we are debt free and have a mine ready to move later this year. My preference is we do a JV and inject some cash and equipment and other party injects the shovel ready project. If they can pull off another Condor even better but we are sitting in an incredibly strong position.

Gold now firmly ascending over next few months. Value investors and dare i say dividend chasersv looking for a reported 1.5p dividend by end of 2028 will be paying close attention. For every £10k invested today could result in £12k dividend recovery all of the initial outlay and Edison predicts dividends rising to over 5p in 2030s but while this is the companies broker report the key importance is that the company is looking for early dividends. this is key. i am expecting a big re-rate next few weeks as everything is screaming bargain after the overhand of recent placing winds down or ends. gla

Its cant fault the trajectory of Kefi once overhang is cleared. Given all the green lights are now in place there will a time not so long from now we will add a penny in a day. I think like so many companies placings have made investors cautious either wondering why the share languishes so low below its expected market cap and people think they are missing something (instead of reality of bucketshop sellers not interested in holding stock past placing) and simply the impatient shareholders jumping from one hot stock to the next. As we head towards a full listing in the LSE, fully valuing our Saudi asset, going debt free, dividends 2028 the penny will literally drop and without warning everyone will pile in not wanting to miss out. When we hit 3p we will look back at those opportunities to get in at 1.2p. I mean seriously its totally mad where we currently stand. Gla

Well Trump is about to sign reopening of Hormuz. Oil will drop and gold should push back to $5k given it has been a temporary blip. Best time to buy into Kefi is now as we have 90% discount to NAV that will be closed over next 12-18 months. gla

Placings really make you check your sanity as you think everyone is aligned for future of company but along comes a bucketshop to mop up a few £m from the placing, maybe some invisible underwriter who Harry is well aware of. Pis pile in on good news and bucketshop robs pis who invested. Sadly seen too many times with Kefi and i just hope that £34m + debt free Kefi + asset base = debt financing going forward. I mean Harry has properly stunned the shareprice so he can put fill up with bargain stock so surely he is aligned with pis.

We should have been at 2p months ago if not for placing seller who had sold 100s milions of shares righ down to 1.1p. Harry certainly knows how to find diamond hands! once seller is done we can bounce very strongly towards 2p again!

Il stick with Darren note he thinks 36p once in production at La India. Only 6 months away so 3x will do me fine

The board actually needs free cash to buy shares but a token effort is always a positive i agree but i hope they can do that in time. If Kefi can grow the business to 10-20p over next 18 months as is likely on the back of the revenue numbers projected and flow of dividends then we will all do well. however i just sense we will get taken private and even if board has a fair amount of shares it is not substantial to block a takeover and board are obliged to entertain offers, certainly today 2p would need to be notified. The board only have themselves to blame for creating the situation where we are so undervalued compared to our projections that we are in this position. Everything at the moment is in a excellent position and we have more than enough cash for a very long time to come.

Another very thorough and excellent update. Great to hear from the horse mouth that dividends will flow from 2028. Small chance 2027 but that i guess depends on gold price and how much they need to buy their second mine in South East Asia that is now 3-6 months decision but Darren said mine is already getting reading to be shipped to "port" so sounds like he might know. Sounds plausible La Grecia might come into play as he was very big on that so an extra mine for example and he seemed to imply quite a lot of work being done. We are ahead of schedule in Nic confirmed and waiting on some parts. Very confident from Darren!

Investors jostling to buy in before good news flows. Apart from Runruno plan Metals are firing on 8 cylinders and Darren can give more context today. Given substation is already being built is a huge win because as woon as we are powered we will be moving into commissioning. Month or 2 is all it will take to complete that work and we starter substation at least a few weeks ago. Once Trump formalises his peace deal oil and gas will flow and those costs will drop, conversely gold will rocket as US are printing dollars so fast gold is perfect store of wealth (forget cryto casino) any news on Runruno will be boom and if he does not answer anything on this we know he is under NDA and by his previous estimations aiming to tie up end of June. My view is given he lives and married locally he is not planning to leave. He will be working overtime on a big deal to take Runruno to next level.

Good old book5, our man in Nic who was so accurate about artisinal miners until he wasn’t :) Lets hope Darren stands up tomorrow and puts a rocket under Metals as our market cap today is pitiful and he needs to explain Runruno and crank up the momentum as we are a sitting duck for a takeover today. Barely 1x our FCF in 2028 so easy prey!

Interview was a barnstormer, RNS was a knockout but shareprice today has been pathetic. Tomorrow is another day but we need to see some decent volume and price movement or a low ball offer sub 2p will take us private.

Tomorrows investor presentation should be good one. Could help undermine just how close La India is in reality and how close our Runruno deal is going. Gla