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With all this excess cash that Metals were not expecting certainly one bonus will be a likely increase in their drilling at La India as now as a developer every ounze adds to the market cap so it should become a profitable endeavour to find as much gold in the La India hill as possible.

I was digging around and came across Mallibeg South that was reported as recently as 2019 as a deposit south of RunRuno by Metals. obviously if it was any good i am sure Metals would be on it but wanted to know if anyone knew anything about it and why is dropped off the radar given it was so close to Run runo?

The party pooper who dropped the 19m i hope is the last of the overhang. we would be 1.7 by now if not for the placing overhang. Re-rate over next few weeks as if information correct this is all done and dusted by middle of February if the information is correct. Definitely the start of bigger movements as we cant stay at these levels for much longer.

212 make money by selling at the Bid and Ask so a bit like exchange rate scalpers. From my experience HL are pretty decent and gives you closer to mid market prices when trading certainly amounts. Nothing actually somehow beats my hsbc trading account that just somehow seems to beat everyone else on price but its interface is from the dark ages so not for everyone.

Look at RNSs to see why? They are pretty clockwork every 4 months to keep the lights on while they have no revenue and pretty standard for this type of explorer. The problem is when the market cap gets so low even small amounts of money causes huge dilution. Lets hope the news is big enough to increase the market cap to a point that placings will cause less dilution. Would not put it past current management to do a placing very soon as this is highest share price for sometime.

But what about placing risk as Alba have almost no cash and placings have been regular? If they can break cycle and one of their projects come good (Greenland one has interest).

Quite agree but we have to get to $2bn market cap asap or get some way from where we are now as we are sitting duck. Companies like Barrick are making $200m a month so Kefi today is not even registering. Incredible that investors keep selling into a rising bull market that has just started in gold miners and Kefi has not even got out of the stable block yet.

Resistance crumbling and Metals sellers are almost done so move over 19p likely before the bell setting up for a big day tomorrow if we get an RNS. Witb Dupax now back firmly under control plenty of new momentum should begin!

Gold producers are drowning in cash looking for a home so plenty more takeovers this year. Key for Kefi is these investors will be looking for next target and most of that cash will wash around other gold miners. If Kefi does not get its skates on we might get lowball offer. Current market cap is almost a scandal as even minnows tower above us. Board needs to sort the situation as i do not want a 2.5p offer taking Kefi out. Maybe a new CEO is way to go as while Harry has singlehandedly pulled this off he probably would do better for Kefi optimising his high level contacts to swing licenses etc.

The more you run the numbers the more Metals are so crazily undervalued. Key for me is we have 0 debt so we are a lot further down the path of buybacks and dividends. Number wise i am seeing $780m FCF for 2027 year. If Metal did a $150m+ buy back or dividend imagine how undervalued we are? with that much cash 25% of that earmarked for dividend is not unreasonable? Some are a lot higher but La India you can consider as 50 years of production. I think we should be around minimum of 40-50p by first pour and probably higher. This entirely ignores Dupax or anything happening in Runruno past 2028 but that is also highly unlikely given the good news on local opposition. Hopefully locals can be won around with money for their community and jobs, presumably their main interest in opposition.

All generally positive. Reading into it most of those arrested lay claim to owning titles to the land so its mostly around money. Landowners can get paid compensation and so forth and communities want jobs and local payments. Certainly can provide a nice amount of wind to metals this week.

Cant actually believe the crazy low market cap of Kefi. We are forecast around $400m of FCF for 2028 and we are fully funded. Saudi JQ will also be operational by 2027/2028 along with Hawiah getting close to production. We could be a 3 mine operation by 2028. Really cant see us not delivering 10-20x over next 1-2 years. if we stay at current gold price and execution goes to plan. Certainly we are an absolute bargain relative to other comparables that are few in the UK so really Kefi is probably the best way to be exposed to gold over next 12 months. Pan African is around 200k ounzes but £2.8bn market cap. We are not far off that target with underground and other gold producers often have very high AISC so Kefi is largely on their own in the UK market and perhaps why it is so misunderstood. Hopefully we push through 1.5 and keep it. This will confirm the overhang placing shares are all gone and then more investors will pile in.

Just noticed a 100k share purchase at 19p, so while there is a small amount of chop seems almost implausible that we do not sail past 19p very shortly. Buying has not really even started today but looking very positive and gold teetering around $5100.

Institutions must be sniffing around today as they must see the clear path for Metals to join the FTSE 250 later this year and that the more we get further away from our AISC at $1300 the more profitable we become. I am thinking 19-20p is easily achieavble today as buying has only just begun and anyone selling are literally throwing money out the window. Metals flatlined for so long while the market and gold price exploded so we have a catchup on our hands.

With added news coverage of Gold and Iran situation, to name but a few, certainly the world this year is going to be pretty unstable. Bitcoin has also proved a bit toothless and hardly a safe haven. Gold is firmly back where it belongs and i think Bitcoin evangelists are seeing that gold is where they should be storing wealth. I can see 20p being possible today and we just need Dupax news or something else positive and we leapfrog to 25p-30p easily. Numbers today look astonishing. We will have around $280m FCF just from RunRuno in 2026. Assuming $80m-$90m left to pay to complete La India in 2026 we have $200m FCF for 2026 overall. If you fast forward to 2027 at current gold FCF is $780m!! La India (5,100 – 1,300) × 145,000 = $551m + Runruno (5,100 – 1,300) × 60,000 = $228m. We are DEBT FREE so all largely hits bottom line. We are in pole position to announce a dividend and given we have $200m hanging over for this year and no where to spend it i hope board announce maiden dividend or buyback asap. Obviously some of this is earmarked for Dupax but not a great deal as we are only making a few adjustments. All i am saying is these numbers do not lie. We are easily looking at market cap of $3bn+ on these numbers alone and just a case of executing the plan.

If you think about it US are making a pretty big change in direction but will take time to show. Tariffs are largely working in that revenue is coming in to government at record levels, imports are down, US manufacturing is up, enormous investment from around the world going into the US to avert tariffs (primary aim of Tariffs) so more products manufacturer in the US and rest of world running around like lapdogs trying to please Trump. Trump will get what he wants in Greenland to extract minerals and only took him a few tweets to achieve while Europe wait on his every word. Slightly hilarious if not so sad. I think US are going to surprise on the economic front over next few years and certainly not all doom and gloom.

Certainly a nice quote about Saudi minerals as Maaden has a huge warchest and Kefi is in a great position to grow its presence in Saudi as we have an amazing portfolio of licenses “ The nation is cutting red tape, reducing tax rates for mining investment and intends to spend big to catch up with established players.

At the Future Minerals Forum, state-owned mining company Maaden announced it would invest $110 billion in metals and mining over the next decade, including entering into international partnerships and attracting industry talent. “We’re humble enough to realize we can’t do it alone,” said Maaden CEO Bob Wilt, speaking at the event.”

Gold is just under $5100 and if Trump ruffles some feathers in Iran this could be a lot lot higher. Looking like a good start tomorrow and who knows where we end up. Gla

I have noticed a little more freedom of movement in the shareprice, in that we are not simply pegged at 1.3. We almost pushed to 1.5 and then got pulled down by a placing dump. If investors can be confident placing overhang is cleared there is pretty simply path to 1.5-1.7 as unless your desperate for cash its now just a matter of closing the gap between 1.3p and 10-15p on production. this is based on gold staying over 4k but its seems almost inconceivable with the worlds central banks building gold reserves and reducing exposure to the $ and since Trump and his "bored of peace" gets into its stride. Iran is on the menu next few weeks so clamour for gold is only going to get more pronounced and levels of production are far less than demand.

Its all relative and the whole sector has been in the duldrums for decades and coming out of hibernation. When you consider what a normal company is worth making £200-300m profit you can start to think what Metals should be priced at. I think the whole sector is due a big re-rate but Metals is a special case because La India is a not just 145k ounzes a year but a 5-10m district so we are never going to run out of gold. It should carry a premium and the more Metals can prove up now the better. We are debt free and that means dividends are on the cards a lot sooner than we think. We have added £50m extra cashflow just from rising gold price. We have all cash for La India. As soon as La India is live and generating cash realistically a dividend is not far behind. Dividends ultimately help a company to get properly priced as you can work off yield. Today with a forecast PE or 1 for 2027 full year we are clearly woefully underpriced. I appreciate today Runruno might end in 2028 but i think that also highly unlikely given plenty of gold options in the Philipines and the 1000s of jobs and familiies on the line, not to mention massive tax revenues for local government. I am hopeful next week we get more information.