Member Info for Simms45

I would be interested to find examples of listed companies selling for multiples of its current market cap. I would say its possible MC could sell a specific asset like Mestiza or Americas for a higher value than Condor today as no one can actually buy Condor with board support. the other alternative is some partnership relationship basing an injection of money in return for a future stake determined by market. I re-iterate MC needs to pull trigger on financing as the killer for Condor is time elapsing. If anyone 12 years ago said first pour was 14 years away and btw it will cost £50m in costs to get there not sure many would have started. Condor is obviously undervalued based on assets and NPV by a factor of 5-10 and MC knows the best way to achieve that valuation is to digup the gold and sell it in the market. The more potential buyers know this the higher the valuation as with finance in place we know we are 18 months max from achieving full value.

It is possible one fund is simply exiting and that is a double edge sword as dumping large numbers of shares into a dead market can lead to significant moves in the share price. I really hope MC closes the financing before christmas or find a friendly partner to come in on the project and finance it. Rio would be nice but i simply do not think with recent Sleepy Joe nonsense that will happen.

4 to 1 buying this morning. Not long and we should be pushing onwards. Cant quite believe Amati and Aegan dumped 350m shares as new fund manager decided to exit all companies under £100m market cap and i feel the pain of their investors who were robbed but their selling started around 1.5p and really i see no reason that this is not even a basic landing point as long as we start to get the financial closures we have been waiting on. Deeside will send us into the stratosphere but BAU like Italy coming online will have a huge impact on sentiment as every project live will be real cashflow and no further capital expenditure and put jitters to one side over any placing as these silly prices. pause for breathe this morning before pushing on.

As long has you have a decent platform for trading you should always get a fixed price somewhere in the middle and not let the market market decide as they will take advantage as the published spread is ridiculous. Shame the sub .7 days are long gone but the next 7 days with expected news should see us back to over 1.5p and that is still ridiculously undervalued but i understand some traders will exit as we rise. signing bank finance should unlock the $80m we have historically invested into the project over last 10 years and we are still only valued at $40m today in total. The upside is massive towards the end of this year and i am only really looking at TK market cap. Once you factor in JQ and Hawiah news and resources and eventual relist of assets in Saudi we are talking a company well into the many hundreds of millions within a few years. Even out net assets will be multiples of today once the sweat equity conversion happens. This will be a 200m ounze a year gold operation in 2 years. That is unheard of at great economics. when you look at mid tiers producing 200m ounces you are talking $350m valuation, which is almost 10x from today. Dividends were penciled in around the current market cap expected in 5 years so investors could be earning dividends every year matching their investment today. Plenty of risk and could all go pear shaped but for once we have peace, financing and gold price all in a good place. Just need to now not have any curve balls. Personally i do not see why we can reach 3p end of this year at least based on previous high and that obviously does not take into the account the massive positive momentum of JQ and Hawiah that were only footnotes. Into the last 7 working days 5/6 working days before next RNS.

With gold jumping back to $1680 and if central banks are swapping printed paper for gold its a strong signal of whats to come. Central banks have literally printed trillions of $s out of thin air and are probably now thinking wouldn’t it be smart to swap all that printed paper for physical gold. Then when it appreciates in value we can maintain the currency value by ultimately selling the gold at a future point. I am amazed that gold has been so stagnant for so long in the middle of global instability and inflation where everyones savings are being destroyed by inflation. If its running at 10% most people are losing 10% of the value on all their savings every year. Only takes 4 years and your wealth (assuming it stays the same) has halved.

Global recession should mean gold price taking off. Certainly helping the project dynamics if we get back to $1700 gold. "IF" we do close in the banking finance in next few we will be on the road to one of the biggest value creating events for any junior miner for a very very long time. Where else do you find a miner about to close $350m of finance with almost no dilution and keeping 70% of the project equity through our $80m sweat equity. This will be sweet deal for shareholders and i cant think of another similar example on this scale. probably not in the last decade but looking forward to the final furlong on this very long journey for some who have been in Kefi for 10 or more years through arguably some of the most tortuous periods.

Key here is breaking .8 on the bid as that might clear any placing shares to just keep the warrants. Key here is we look to be about to go through that and then really little resistance until 1.2. So much further to go in next few weeks if it all comes together.

This is why the share price will rapidly ascend on news as the vast majority of investors have averages over a penny. most people had already probably gone down the back of the sofa when it was .8 and not aware of the mass dump by Amati and Aegon. Just one bit of positive cashflow news will avert a placing and we will be back to a penny very sharpish. However we need that news.

.8 is the number to fill up on. There was a placing at .8 and there is likely some investors at that placing offloading. Last time to fill up the tank at these levels. When we break .8 then its blue sky.

Yes between Amati and Aegon they offloaded 350m shares into a dead market and you wonder why we dropped to .3. Madness but opportunity for new investors as we rise back up. Last high was 3p and really nothing has changed except we are 18 months further down the road. Plenty to do and the Eqtec team need to relentlessly close financing and get projects live to confirm to the market they are seriously going to be be a global player. Wake me up when we get to a penny!

Great news. We are now at the placing price. The quicker we smash this level the quicker we bounce a lot lot higher. This share has been kept down artificially and come the 15th November when we get financial closure on the bank debt and more importantly, technically depositing our $80m of sweat equity with the bank we have a major event as that $80m will become real. Its all about seeing the money. with market cap so low today we have multiples to go before we even start to slow down towards Christmas. So much news due and with peace stamped now we are in the clear. In 2 weeks even a market cap of $100m (3x today) will start to look cheap if the banks close the financing and we are not even talking about the potential spinoff of Hawiah and JQ that will be massive. probably the most exciting time to be in Kefi in its entire 10 year history.

While the shareprice has got a cold on the back of chief stirrer Biden, who seems main role in the world is to destabilise countries not doing exactly what they are told by the US. I see their interest rate policy as almost an extension of their foreign policy as the faster they raise rates on their terms they can indirectly destabilise sub continent countries. Obviously its all about bringing down inflation according to the US (b**lsh**) and not perhaps a tool to force countries to heel who are all largely connected to US borrowing and who get squeezed by the US when they cant make the debt repayments. Anyway you invest in Nicaragua and acknowledge the risks. we hope Biden does not go further but they like to do what they like regardless of the rest of the world. All we Know is gold is there and as soon as MC triggers finance we countdown to decent profits capable of paying all debt off in 1 year from production. Its an amazing opportunity but MC has to speed up. Really this mine could and should have been operational if he got the funds at a higher cost before the DFS 24 months ago. We know the DFS was largely so he could put it up for sale as he only needed $75m and that is relatively talk to many family offices and i am sure Calibre and Rio was making offers. now MC missed the sweet spot and everything is now against him and i do wonder if his stubborness to do a deal has cost us a lot of money. We will move back up as MC said he wi get finance so hopefully pre christmas or otherwise what has he been doing the last 18 months when he repeatedly mentioned speaking to finances and we have billionaire as chairman who has £100ms sitting after his last exit. no more dithering.

Loved the “extremely” before pleased in the RNS. Basically means the security reports can be thrown out thw window and any shenanigans by investors or might be playing the “risk” card will now be clamouring to jump on the train to parachute their cash out of Ethiopia via investing in Kefi. Whether you like or not, although everyone had a good 3-6 months to fill their boots at .6 this share is going to move a lot higher over next 11 days and could be a christmas present worth remembering. Last placing was at .8 so we are still in bargain basement territory.

In my view the last people selling is the founders and associates. They know the value of their company and they are more likely bringing the shareprice down as far as they can to then start buying them up or as i prefer announce a buyback. the company so much profit that is a multiple of company value so the people selling are those forced from the 18 months of grim ineptitude by board and those disgusted by the boards shenanigans. my view is next interims will be considerably better and we should be multiples of todays market cap so only 3 months to wait to see how second half went.

One of last pieces of the Jigsaw and looks to have co-incided a few days ago with the overhang breaking .6. If peace is real and overhang gone then we should quickly slide to .8 and then with a pause for breathe back to 1.2 and then 1.5. Just a few weeks left for doubters to reconsider their view if banks having done a massive amount of due diligence hand over the keys to $200M+ and that is just the start for a £25m cap company. no placing for now so big steps will happen.

Well 13 days left for bank signoff and then we will be on the runway at least waiting for control tower to take off. that date of the 15th seems pretty nailed on but anything can happen in Ethiopia and Harry sleight of of hand speak. share price movement says NO but lets see.

i suspect the risk profile, real or imagined, might have reached a point for one investor. They may have US interests that could have triggered this fire sale but is good news for the investor who bought this up. Hopefully if the seller has finished we consolidate and move higher on sentiment but uncertainty has not helped and Condor needs to now respond urgently to move quicker to get the finance completed. Every month we dither is simply additional cost that shareholders will need to support financially. Speed is one of the biggest ways to create shareholder value. We have NPV of over $300m but today we languish at around $35m so there is almost a 10x possibility if we can close the gap. The sooner we get to production the sooner the gap can be closed.

The 3-4 month time for financing i think was a red herring and that Condor was in serious talks about something else. The question is whether Sleepy Joe has thrown uncertainty into the mix that will slow this down. the only thing that MC needs to do is crack on. ignore 3rd parties and offers for now and just get the finance. Then bidders can make a play. its absolutely pointless now if MC has been entertaining offers or partner simply because the share price is now so low it makes no sense for anyone. Come on JM lend Condor $100m, take a nice 12% interest over 2 years and lets crack on. Then in 12-18 months when we have a first gold pour we will be over £1 and JM can offload to Rio for £1.50 a share. Simple.

Its almost first time we have seen bid rise on small volumes as you could buy almost limited stock last 3 months so could be a good sign. lets hope Harry gets the wet bank signatures in 2 weeks as while there is still details to sort its the main course for getting TK launched. The investors are on board as this is one of only ways to get money out of the country so they are all ready to sign asap.

Like his final answer. Short but shows hes in a hurry

“ Q22: What are the milestones ahead in the next 3 months?

Tulu Kapi...full finance close...full project launch
Jibal Qutman DFS...Mining Licence application...financing submission
Hawiah .PFS...updated Mineral Resource Estimate...trigger DFS”