Member Info for Simms45

What is also odd is the following

“A prior offer of equity financing was subsequently withdrawn whilst the Company rejected a secured debt facility.”

looks we turned down a secured debt facility? i wonder why as that would have done away with any dilution. My suggestion is that JM now Chairman is leveraging his power to maximise his payback. on top of his £1m worth of .15 shares he gets £2.5m of warrants he can trigger in 18 months.

How is this better than a secured debt opportunity that eas on the table? Did JM kick up a fuss to get what he wanted. he is aiming for 29.9% of the company and then i suspect if no buyers come forward he will make an offer and take private. I really hope not but JM does seem to be taking charge and doing what he wants. Really not seeing any benevolence here at all. i think JM has a game plan all to himself.

I have seen plenty of rights issues to shareholders fall below the offer price as shareholders sell their shares for their penny profit and then share price has a ball and chain holding back share price gains. The bod have made an error of judgement in my view. The issue now is how is anyone going to buy an asset for 50p when market sees shareprice is 18p or 15p. If they have no buyer RNS before christmas they should crack on as literally waiting for a buyer will be painful as momentum os key. This is all coming from a position of weakness and every buyer will know it. Buyers can just wait this out 9 months until MC and team have spent the money. What they needed to do was roll up their sleeves and raise the cash now. We would be 30p and rising and buyers would then have a limited time to swoop if they wanted. Buyers will just stake out Condor and wait or lowball assets. JM will be fine but pis could be slowly cut out. Really hope MC releases an RNS before christmas stating we have several interested parties as otherwise La India will just be tumble weed in 6 months. This rights issue has really thrown a major spanner and their is no other real way to see it.

Barely £11k of shares sold today so its almost a tree shake by MMs that looks to have backfired. This share will rise steadilg today as sub 20p is too attractive as we are £28m market cap. That is crazy. I remember back on the day when we hit 17.5p and was a great buying point but we are literally back at these levels, albeit market cap through dilution has almost doubled but we are masively undervalued but todays RNS is not helpful. Should have just been JM lending money with conversation after 12 months at prevailing share price and share price would have risen. It fell because it can be interpretered as desperate or JM taking a cheap land grab prior to buying and taking private to be sold onto a buyer. Onwards and upwards .

Regional players know how big TK is and Hawiah so its great news if there appears to be no Kefi equity invested. I understood the 2.5p warrants was going go to be our investment as on financial close that seems a fair target. If we do not need the warrants and still have 70% equity in project then the warrants can be used for Hawiah and JQ so would be a big bonus for Kefi shareholders. Harry keeps repeating we are now in the signing phase so with all this extra news coming in presentation he is going to make it hard for any wiggle room. This might just happen in December but share price completely discounts this still. Surely regional players would do well to start buying shares in Kefi directly :)

Did i miss something as if they had any offer surely they would make shareholders aware and share price last week would be 30-40p. They have not stated anything, perhaps NDA, and hence the share price has been dropping last week. JM cannot be insider dealing knowing of any sale as if that was the case he could not be allowed to buy for 15p. I dont know the rules but my surprise is JM can offer anything except a loan as if he has insider knowledge to the contrary this would not be allowed. Of course Calibre and many others are circling like vultures so raising cash does have benefit that those vultures will fly off again. I am surprised the raise is enough cash for 12 months runway or more so maybe they only expect £2m. Certainly think this could have been managed better and JM would have been lender at 18% with share conversion on sale or production so its linked to action and not a way for JM to lower his average. Poor MC is now almost totally wiped out.

Surely £1m loan is all they need for now? Really do not see reason to raise more as that should provide 4 months runway and my understanding sale or production is on the cards. Not particularly well thought through as share price is not going to be 25p to make buying shares at 15p worthwhile.

What i take from edison as a baseline is

“In turn, driving average (maximum potential) dividends of 0.90p/share for the six years from 2026 to 2031“

My thinking js if you can invest £10k today you could receive indefinite dividends of at least £10k a year for life (we know TK has massive gold potential) and the £10k capital investment would likely be worth £100k by 2026 purely on the basis of yield at .9p dividend. plenty could happen but for those with more than a day trading mentality the long-term prospects are the stuff the sage of omaha would respect. This does not even account for Hawiah and JQ so thats the bonus round in 2023 when that might get financed and/or listed on Saudi exchange. Personally i think dividends will come sooner than 2026 but thats not so far away.

That might be an interesting angle as i cannot understand why MC would put Condor up for sale if there was not a good deal of interest (albeit maybe no firm offers). There is nothing worse for MC if companies are showing interest but their is no rush on buyers part to make an offer and MC needs to push the finance button asap if there are no firm and decent buds. If Rio/Calibre were one of key potential buyers they appear to be just aiming to pickup Condor for a bargain and if an existing NDA exists this might stop him from saying anything. However it does not stop him telling others to make a move quick and get some focus on a bid before christmas Hopefully all will be revealed prior to christmas as i do still think MC should go for finance and take this forward unless at least a 60p asset bid transpires and really a lot more. I just hope MC does not now stop the finance process and spends months getting messed around by companies when we need clarity. starting to get interesting though.

Calibre shares have almost recovered from the sanctions against Ortega so its fair to assume that shake has moved on. Not to say something else might come down the road but Calibre are the ones to watch. Once we get offers things will move and personally would like to see Condor take to production as its seems best way to extract value. La India i could see being sold at 60p, Americas and Mestiza maybe 20p and licenses a bit as well. Breaking up will maximise value and suit different buyers. Obviously you never know but i cant imagine MC has mentioned sale of assets after 12 years without an idea of buyers.

All we need is a couple of bidders and we will be off to the races. We must already have one in the wings as i dont see why he would go public if they had no interest swirling around and we had hints of geologists so i am pretty sure Rio is in the mix as they entered Nic to buy some mining interests and done nothing so far and Calibre is obviously interested although they are partnered with Rio in Nic. I suspect many companies have been lowballing MC and he is not going to entertain those offers. It does make sense to have a go over next month to see if a serious offer can transpire but i do hope MC announces how many expressions of interest asap and if price is nowhere near NPV to crack on with financing as JM and friends have the cash to do this. I think given recent market dislocation they will probably crack on as its not exactly the greatest time. The best time was 12 months ago when the market was smoking hot. just announcing expressions of interest RNS will probably add 50% or more to the share price. if we push up to 40-50p then why not do the financing if we can. its odd how 18 months ago small news would bounce a share higher but these days your seeing great news and everyone is selling. It really does feel like a global tide out event and really key now for all companies is just staying alive and reducing cost base and many good companies are struggling with raising money.

Every trade today over .85 was a but i am still amazed to this day why they cant simply know its a buy or sell and rely on mid market price at the time and with Kefi you can almost always get fixed rate close the mid market rate. I am surprised we are not over a penny as while last RNS might not have laid it on the line it is pretty much nailed on. If we get an RNS saying definitive agreements out for signature the penny might drop but pleased that we are on track for December sign off. Looking forward to Hawiah now as that must be due any day or week and ultimately that is probably going to make TK look like the side dish as its a massive copper find, almost certainly in the top high grade copper finds globally. Once live this mine if listed on Saudi could be many 100s millions as Saudi are looking to transition petrodollars.

While the market thinks otherwise photos like speaks volumes. Hopefully there will be a RNS prior to final project closure in early December.

Its clear MC wants to sell the “assets” so thats plural so it does seem as if he might sell different parts of the business, perhaps the licenses separately or La India from Mestiza. Certainly Calibre might take the high grade pits and someone else to take La India and build as the Nic government would insist the plant is built. if assets are sold off in this way the proceeds would be presumably returned as a special dividend or who knows as potentially we ens up being a cash shell. personally an all out share purchase would probably suit shareholders if it was at least 60p-£1 in current markets. Obviously its worth more but classically MC is not exactly selling in the best market background as from Shanta recent experience offers are not really full.

If Deeside lands at the end of this month certainly will be a spectacular end to the month. It seemed tantalisingly close with the last RNS update so lets hope it is close to be being secured. we will see but todays news is just the start of all the projects in the pipeline being commissioned or close to financial closure.

Good to see .4 taken out and onwards to .5. Given the sharp drop down historically we should probably jump quite nicely. I think a slew of news is on the horizon and wonder if any Deeside investigators know if anything is afoot or predict next news update as plenty of news could land.

I suspect that Calibre have been low balling offers and what MC is presumably doing is going public so other interested parties on the look out for bargains make their way to MC. The project is highly attractive as we have a 10 year 100k mine. Shanta was a good buy also but the price was not even close and Shanta seemed to have $1200 and less than 90% recovery rate and in 5 years their gold production was reducing from their projections. We have a clean sheet of paper for a major to come in and turn this into a very large mine. We will see as we need to be around 40p for those 50p+ offers to come in and even get the time of day. Calibre will also be serious now probably as the clock is ticking. Also wonder if JM friends might make an offer as its highly attractive to those with cash who want to protect from inflation and probably in a jurisdiction friendly to most investors.

Wait until Deeside, Southport or Billingham close and that should really move the dial. I think the dark days of cashflow nerves are behind us and the re-rate is swift as we are seeing today as service and maintenance contracts for projects going live are very attractive. Anything under .5p is a bargain and under 1p is a very good medium term prospect as the only issue with Eqtec has been too many projects and delays. This is normal but we now have sorted out 4 of the projects onto a decent path with financial restructuring and now the first of many projects to go live. Exciting times to be in Eqtec.

Feels we have some resistance still at the placing price of .8 but hopefully hold-up on the way up will give way as yesterday move was nearly at 1p but assume the overhang brought this down. exciting times for Kefi holders and clearly a going to be a very interesting christmas as if we get the $320m prior to Christmas everything will be on for Q1 to get to work. Hawiah is the next big RNS and that should be big. So much news incoming.

Shareprice is nibbling to move higher and Deeside and other projects would really get us back towards 1p where we should be if Amati and other institutions did not have to firesale shares for whatever reason. I would say with Italian MDC live and Deeside deal completed we would quickly progress to that milestone. We will see how the bigger projects fair as 2 biggies are due an update before christmas.

MC golden share deal only kicks in at £1 and then the biggest pay off is at £1.50 so i agree MC and JM must surely be hoping for a proper realisation of the assets. I wonder if La India could be sold off separately and sell Mestiza and Americas to Calibre as thats a no brainer at the right price. I am just being realistic that 50p is surely a landing for starters. If share pru e rises to 30-40p in next few weeks a tabled offer of 50-60p will be entertained and maybe then we move to higher bids as gold is going to be key for financial stability for many countries facing high inflation.