Member Info for Simms45

But for producers like FM, Calibre etc it gives them a log more fire power to up their offer as they are making better margins and could therefore borrow more on top. A high gold price will speed up binding offers and i have a feeling one might come a lot sooner than 4 weeks. MC knows his 4 offers and where they are so if he hints maybe a week it gives you a sense he is expecting one but might not know how soon, this also motivates tsx listed companies who might want to pay with paper now many companies have doubled, including Calibre he mentioned so you never know an opportunistic offer for whole company might get dropped. All i know is this will rise tomorrow. Certainly momentum of 4 serious bidders is a big difference to 2 or 3. Almost guaranteed one binding offer now and probably 4 or more in the end. Its a race between bidders who will get in first as their is a first mover advantage.

I suggest you read the RNSs but apart from the £3.5m raised and the 1m euro grant to fund wages we have a whole series of projects completing. Italy is being refinanced as we speak. Croatia is due, Nortk Fork should be valued at $40m once we go live and we will have a substantial equity stake for refinance. The list goes on. We just reduced wage bill by 25%, directors swapped salaries for stock. Altair are in for loans as they want to see their 20% grow in value. We are possibly close to cashflow positive and profitable towards end of year. With all funds incoming and armada of projects in California numbering 20 or more where we will be technology provider on all projects we are moving from into a different gear. We need to see delivery and i have not even mentioned any UK projects or French projects or many more all across Europe. The key is we are no longer front loading projects with cash as we will have enough show projects around the world this year to keep sales conversion very very healthy. Remember they stopped even reporting sales pipeline when it was in billions and worked out no way could Eqtec deliver so partnered globally so we can focus on the technology sales and only take projects that pay upfront. Its a totally different company from 18 months ago as we needed to basically pay upfront all projects. At same time when placings are from position of strength i am all fof them but last 2 were sticking plasters to cover the CFO loss of control and bank rolling capex that we were not going to see return for 4 years. Gla

Barnstormer of an interview. 4 biggies fighting it out for Condor with offers, more site visits coming up, Zurich video out later and talk of possible share buy out sounds like a lot going on. If 2 bidders are on Tsx one could be FM and they might be a likely bidder for the company. Can see Condor pushing onwards to 40p as reminder that NPV is $400m at $1600 gold. Crazy if we can see bids between $100m - $200m offer but even as MC says a buyer could come next week or 4-8 weeks. Something tells me the mention of week could be an early bonus.

If SB is back in then thats a high bar we have reached. Hopefully next raise is the warrants at 2.4p and then upwards :) Then we can have different “choice” words with Harry as start to focus on Saudi projects and listing and personally selling off TK as Saudi will be a lot more lucrative and Kefi will be worth a sizeable amount.

Seems remarkably good price for a sell or a buy so would go with cross trade. Plenty of isa buy action coming in and plenty more i am sure in the coming weeks. Would like to see some update this week or next to ensure we are still on track for final umbrella this month and any new news on EG shakedown. SA is worth way more than TK but only only TK crosses the line and gives us the cashflow to quickly expand in SA. Pressure is on from all sides to conclude TK.

I am also interested to find out the status of North Fork as we are close to cold commissioning and we should find our equity stake in the project once things go through the washer. For me North Fork and the completion of Croatia/Greece are coming very shortly and will be a catalyst. The line has definitely been drawn under the past and plenty of cash to the end of the year, when some of the dozen projects in financial closure and commissioning will come online and our global partners around the world start to make serious waves. Certainly Eqtec will not be sold anytime soon but we could have a £250m market cap comfortably in 12-24 months if Eqtec start scaling their tech globally and fulfilling the billions of possible leads for sales around the globe. that is the big reward but it will not happen overnight sadly.

To post that message on Twitter you would only do that if they had got the right non binding offers in the first place and probably chairman had talks that was as close to a handshake subject to legals. i think $100-$150m will be the price but that is 2-3x todays price so plenty of room for new investors to do well. As to timing the bidder is the one who wants to strike quickly and then turn the tables on Condor to agree deal within a time period and not give other bidders a chance to get in. I think a binding offer is more likely low weeks as if you were a bidder and wanted the asset you would go in hard and quick. I think 50-80p is more likely outcome for shareholders. As to distribution i cannot see that JM and MC will not look to distribute the bulk of it quickly in a special dividend, they might even buy back shares if the share price does not equal the asset sale value. i have been in several companies in the past where this happened as it is a no brainer that if asset sale is worth 70p per share and share price is 50p the company buys up the shares and ultimately increases the distribution to remaining holders. therefore the share price will be quite closely aligned with the asset sale. MC has discussed distributing money so that does seem most likely. There could well be assets remaining in Condor so that is worth watching and the shell of Condor will have a nice value for someone.

I appreciate you are probably looking for a buy in price lower than today and i hope you get it but important to look at both sides of the equation and weigh up the risks and rewards and decide when is the time as waiting for TK finance to close us the best one for confirmation but perhaps might have missed the bigger returns. I sense a lot more positive news this month and the price will continue to rise. The discussion is kicked into the long grass and will only get reviewed if Harry cannot make good on what he has said regarding the final umbrella agreement and Ethiopian government going into reverse. My expectation based on everything we have heard is that both of these actions will happen within the next 6 weeks to the satisfaction of bankers. If that happens we are in the clear. Really it is not asking too much. The time to sort the rest is immaterial as lending will be readily available as i am sure Rab will get their pound of flesh. However we are dealing with a 10x opportunity from today if it happens so there is plenty of value to be extracted for everyone and Rab will be well aware of this so want to keep a tight lead on proceeedings. For me there will be no placing for at least 2 months and subject to any key event happening Rab will keep on lending, perhaps with convertible notes in mind and why not?

I think Harry could not really spell it out any clearer kin the Q&A but the key points is company is spending "frugally" until financial closure. We have used barely any of the borrowing available to us. Based on even low levels of borrowing and what Harry says we have resources for up to 3-4 months and probably more. The crucial point is the whole project hangs on warrants being triggered at 2.4p and a placing will destroy confidence and probably lead to bigger issues. Remember RAB are our biggest shareholder and our unsecured lender so they are fully aligned to lend money to Kefi with high returns because they are very motivated to see Kefi reach much higher levels from today. They are doing their own maths and they know that lending is far better for them than forcing a placing. Harry was very open how little of the borrowing we have used and i fully expect the whole board to not take salary if necessary and convert to shares. they have done this before and will do it again given the importance of the next few months. If Harry knew he would not close TK financing in next few months he would have already completed the raise to give the markets time to adjust and for him to change his plans. Anyway plenty of investors today putting their money on TK completion and assuming the final umbrella is signed this month we should move up to 1.5p+ leading up to finance which should be well over 3p. Finally he says the government are "snychronised" so he is saying they are doing everything in a timely matter to align with Kefi objectives. All very good.

This is all huge news. we have confirmation that we will have no placing anytime soon and have plenty of borrowing capacity. All parties are working towards the final financial completion. This is a waiting game but we know the final umbrella agreement is later this month and if that forms the basis of the definitive agreements then these can be out in April. The government, if we are told is correct are finalising any matters and we should be in credit this month or next. This means we should move steadily up to 1.5-2p towards financial closure and each RNS we receive should move us higher. These Q&As are a huge help to investors. gla.

Assuming those binding offers come in 50p will be pretty solid to pass. I am hopeful of more non binding offers as today 3 is great but 4-5 will really help ensure a solid finish and 30-40p seems a fair place go be today. Once we get the first $100m+ binding offer this will kickstart the realistic bids.

Just so surprised it has taken us so long to get to 30p but the AIM market is so bombed out there just does not seem to be the demand as volumes have been very small but could we just weeks from binding offers, probably worth a lot more than we are worth today. Still plenty of upside.

Well at £22m market cap the lawyer fees would be more expensive than Eqtec. If they offered £100-£150m Eqtec might consider it as the CFO has made a hash of managing the finances and got us into this position. Its hard considering the IP we own and the sales projections that we should be worth less than £100m. Hopefully news over coming weeks will start the turnaround.

well the magic printing press that has been keeping Kefi going is being converted as part of this financial engineering into our 80% equity. Thats correct we are not diluting Kefi to the next galaxy but all this money spent over last 12 years forms our equity. It really is the reason this has probably taken so long. Last delay was partly Harry wanting his $10m costs in 2020-2022 signed off by EG as equity contribution for bank financing. I have seen companies dilute shareholders into the ground and Kefi is not any different but come financial close all that long forgotten expense on Harry Cyprus salary etc will actually be shown on our balance sheet as an asset. Needs a lot of faith but if it comes off it will be a very nice day that could come next few months. All i care is we move forward and that this is all done by June.

I can only understand your involvement in this BB is that you probably made an investment 5-7 years ago and might have made some losses and you feel you are doing a public benefit to bring up news from 2017 on the basis Harry is repeating himself. However once you consider the civil war, ANS structure, bank funding of miners and so on you can see that probably Harry was a little naive in his trust in Ethiopian processes. Also Tukele was clearly trying to hold Harry over a barrel to sign off documentation and openly creating trouble. Harry has stayed the distance, where many would have folded in 2019, and we stand in 2023 with Ministry of mines and Development banks meeting together with real news coming they are getting this ready. If the project was operated by someone with deep pockets without a need for financial engineering we would be at 10p today but we are not. Each investor accepts the risk and reward profile and judges if we are getting closer or not as so far every RNS has been building just a slow burn. Dont get me wrong i have been here 2-3 years and seen it all from rise from .7 to 3p and back down again and heard it all from Harry. It was only the talk we are hearing from 3rd parties that gives me some evidence that it is not just the Harry PR show but Saudi for many is the big ticket item that is utterly overshadowed by Eithiopia and many hope we quickly split the assets and get listed on Saudi. We will see but i hope you do make some money from Kefi, ideally going long when you think we are at the bottom as if the news lands everyone will benefit. It would be nice that we do this before summer though and Harry is a past master of "just one more thing" and on the last webinar we really specified to Harry all the steps and he did not mention the final umbrella agreement or maybe he did in a roundabout way. however my understanding is that the basis of the final umbrella agreement is largely the basis for the definitive agreements so i really hope my understanding is correct but we need more updates this month, especially Ethiopian steps they need to complete.

I suspect there will be a mad rush for those shares held for pis with warrants next week and ISA boot filling. I cant really see that DP is not planning to drop some news (plenty expected) to push us past the placing price and make those warrants a little more attractive. Today while we trade below placing price it seems rude not to fill up. I really hope we start to see real cash start coming in the front door. Follow the directors who for once are buying some shares at .22, albeit salary sacrifice but its normally a good bet to follow directors who know an awful lot more than we do.

The RNS todays more than ever spells out that regional banks are about to close in on Credit and having serious meetings finally with the EG Ministry of mines. Since removal of Tukele this has been a massive boost for Kefi and gives a lot more confidence about proceedings. Happy to wait to get the final umbrella later this month and trigger the following for the start of a 10x opportunity over the next few years. Feels there is more confidence in the timescales and $2k gold is a nice wind. Can see Kefi steadily rising now on real information as opposed to the rumour mill getting a little carried away but 1p seems very achievable towards later updates this month. gla

The main takeaway for me looks he is specifying a final umbrella agreement this month followed by signing next month so not much longer to wait, albeit i am sure we would all like it tomorrow and many will see this as can kicking but i was right development banks have now had several key meetings so hopeful we are closer to credit. We move onwards to the finish line.

nice to see gold smash through $2020 and hopefully hold it this time and then onwards. Its psychologically important and certainly help with finalising this Tk finance as there has never been a better time to be going into production for gold.

As we have seen before generally a placing keeps us pegged for a while before fast upturn. The only difference this time is we worth 1/10th of what we were a few years back. At current market cap of £21m does not take much to quickly boost is forwards but some news on Norfork next week would be nice as i think we should find out the outcome and they are employing staff for commissioning so leading up to summer that could change the direction, especially as if Northfork goes to plan Phoenix has a big order book ready. Could be a perfect storm of ridiculously low market cap and news confirming some cash coming in the other way, a needed imfusion first as last 12 months has been mostly outbound.