Member Info for Simms45

Probably old news but only say today this article showing importance of gold to Ethiopia for foreign reserves and a comment by Harry.

https://www.miningmx.com/news/gold/43853-gold-exports-rise-from-ethiopia-as-country-looks-to-capitalise-on-metals-price-rise/

While its not quite the forum testpack3 you can read the ONS data and draw ones own conclusion as to whether the hysteria of the media warrants the current response. Where exactly was the hysteria over the 70k pneumonia deaths at the same time as the 48k of Covid deaths? Sweden has relatively economically powered through the last 12 months and a rate of death sadly comparable to France, Spain and UK but the latter whom implemented up to £200bn bailouts and lockdowns with serious long-term consequences at all levels including mortality but from a economic perspective a catastrophe that our children and grandchildren who will be paying off long after we are all gone. While not confirmed yet Sweden has no material second wave and would point out herd immunity was not their agenda but the simple application to not be pushed around by the social media frenzy and conspiracy theories that "millions could die" rhetoric as countries with no lockdown shows. Anyway back to Eqtec and hopefully Billingham will come together before mid November as that will certainly help proceedings and generate some capital gains to help pay off our countries debts.

Saddest thing of all is great country like the UK who might normally not follow the herd has been swept up in the same media and social media hysteria. have you noticed how the WHO gives out crib notes of what all governments must say and do and notice every herd country following to the letter. Notice the same tiers, lockdowns, curfews etc. You only have to read the ONS numbers to know the fallacy of our lemming government to look at numbers.

https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths/bulletins/deathsduetocoronaviruscovid19comparedwithdeathsfrominfluenzaandpneumoniaenglandandwales/deathsoccurringbetween1januaryand31august2020

when does anyone remember Hong Kong flu and the rest that were far worse than Covid but nobody batted an eyelid. did anyone worry about 70,000 pneumonia deaths between 1st jan and 30th Aug last year?? No of course not as its not new news and does not sell clicks and newspapers. did anyone check that PCR tests even according to inventor only tests for presence of a coronavirus and not actual infection and that its not reliable over 35 spins? WHO started at 35 and few people tested positive and raised to 45 spins and you wonder why so many so called asymptomatic cases exist now? Seriously you dont want to get Covid, just like you dont want to catch anything else but letting the WHO dictate the worlds response is depressing from a total lack of leadership and innovation from individual governments, except of course Sweden but thankfully someone has some commonscience on this earth.

Nice news story that gives a sense of market interest in the final product of waste to energy. Need fo bear in mind this is planning permission to build a 42MW plant for Skelton Grange so not even built and Ferrybridge is built and 68MW.

Maybe penny will drop how valuable Billingham and others are really worth now and when built. and eqtec is worth £35 lol. its loose change in this market.

https://www.thisismoney.co.uk/money/markets/article-8834309/SSE-shares-jump-sells-energy-waste-venture-1bn.html

Roll on the 26th as i have a good feeling Harry had a good enough steer on the way things were going to to be confident of setting a 26th October interview or what exactly would he talk about given he has talked about October finance completion for the last 18 months and not budged or even attempted to date to kick this can down the road and had many opportunities. In the Winnifred interview last month he certainly gave off a swagger that things were rolling and alluded to travel to Ethiopia, albeit this was pre Australia knee jerk reaction on Covid. My expectation is that he probably had the deal but the final part was some official signing ceremony in Ethiopia so the EG can take some credit and show their steady hand at the economic tiller going into an election year. I really hope so anyway :)

if you go back to one of the last webinars Harry could not wipe the smile off his face saying ANS were out and that we could be looking at up to 70% of the project and not 45%. Some of the ANS group might be serious but the boot is on the other foot and Kefi are in the driving seat and Harry repeated several times in the webinar that he had many offers that he was working through. The market cap today of £40m barely values Hawiah or JQ resources let alone TK so the market has priced in the worst scenario already, which is why when the project finance comes together there will be a large re-rate. If we just had Hawiah and JQ we would probably be at the same or higher market cap than today because we would all be about hope value. There is no country in Africa that can say they are stable and most of the biggest gold mines work in the most unstable ones who are in constant conflict, Congo and so on. Ethiopia is as close to a stable economy as you are going to get with pretty robust economic growth over the last 5 years. Kefi has put together a gold plated BFS "Bankable Finance Study'. These cost an absolute fortune to put together but is the gold standard for raising finance and most gold projects never get that far. The whole point of a BFS is that while investors might want to go on a junket to Ethiopia most financiers have not got time. Ultimately as Harry has pointed out and mentioned we have the Ethiopian Government involved at the highest level and they would fund the project if required.
I could probably go on but Kefi will get the finance and hope in a few weeks time we will be somewhere on a high and its not too late to the sceptics to recalibrate their position.

Share price today in no way values EQTec at anywhere near what it should be. I do not think the general investor base understands just how novel the business model is and how Eqtec will be taking stakes in all the most promising projects to leverage and maximise profits. However personally i would be happy if these stay under 1p for a while longer as i have a good sized payment on the way in that i am looking forwar to investing here. The forward order book is big by any standards today but does not even scratch the surface of how big that will turn into over the next 12 months.

I remember TMS being a big supporter of Kefi back in the day but suspect like many he got caught by the Ethiopian ANS rabble who came bearing investment gifts that turned out to be empty and Rab Capital made the investment of a lifetime. Fortunately ANS are long since kicked into touch and those investors caught out might take another look. I am personally buying as much as i can at these levels as "When" Kefi get the finance over the line tell me where you will find a £40m market cap gold producer in 18 months that will be shedding profits close to £50m+ a year? Look at so many explorers that are valued in excess of Kefi but are actually 10 years away from production. Investors will find out the hard way just how long it takes to get a BFS, permits, financing....... 10 years is a good time and dont forget Kefi has sunk £50m so far to get to this point and that is not unusual.

Handy £55k in the bank for Harry to throw a party when we get the finance completed. I tend to agree that this is going to happen within the next 11 days before the next webinar as Harry is going to want to bathe in a little warm light as that has not happened for quite sometime. nearly at the finish line for the start of the big switch from explorer to major potential producer.

All i see is, presumably Spreadex, selling the last of its stock at 2.16 as they just keep adding stock at this price as soon as it sells. They went below 3% over 1 month ago so i think they will be almost out now. Things are about to get very interesting in my view if we have a RNS and Spreadex exit coinciding. Just enjoy the calm and ability to buy around 2p as without any notice it will shoot up.

Chances are with Covid doing the rounds this will go right to the wire but who knows but omens are all looking good.

We are really in a very binary period for Kefi. We either secure finance for TK and that will radically reshape Kefi into a mjaor player in the next 2 years with Hawiah coming up the rear and JQ and almost certainly a £200m market cap company in 18 months or Kefi kicks the finance hat down the road and depending on how far the kick depends how painful but ultimately we are getting financing. Therefore if you want to wait around on hope of delay that is the risk you accept. I for one have continued to add in the lead up as i think the upside probability far outweighs the downside and market cap today is not far off if TK did not exist. the re-rate on Kefi when we land finance will be pretty robust as investors pile in to take advantage of the next phase. Not long now!

if you look back over the last 18 months all contractors and partners are fully on board. The ANS rabble who were a collection of local businesses that came together in the latter end of the gold bear market and when gold was $1250 came unstuck to inject the cash for a very substantial amount of equity in the current $1900 era. Harry has always stuck by his October 2020 financial close. In fairness Harry gave the local consortium every opportunity and the massive advantage to Kefi today is our stake in the project will rise from 45% to anything up to 70% because of the hugely improved market for gold investment and he has stated he has many offers that he was working through 3 months ago. As with any finance like this the specialist mining financiers only like to drop in just before the close. They do not want to reserve money for the project months in advance because that is not how they work. There has not been any rinse and repeat certainly not by Harry who has been diluted considerably. Harry has equally stated that himself and his team have put more cash into the business than they have taken out and cut their salaries and so forth. Of course there are nerves because of that history but it has entirely been as a result of a 3rd party group of investors who,a ccording to Harry, had a country wide liquidity crisis and were not able to find the cash. This is widely known and only in last 2 months has government granted banks the ability to borrow from abroad as before it was not possible. Reading back over the last 18 months RNS gives you a lot of confidence but importantly the government of Ethiopia are entirely onboard and from previous webinar we know the EG will be the backstop as they are just as keen as Harry to get this over the line.

"The State Minister and Harry Anagnostaras-Adams met with the Ethiopian Prime Minister, Dr Abiy Ahmed, at the end of last week, where he gave his full support and issued the relevant instructions to all relevant Ethiopian Government agencies to forthwith enable commencement of construction of the Tulu Kapi Project.

· The Ethiopian Government announced yesterday, 4 March 2019, that the Federal Council of Ministers had approved an extra budget allocation for this 2018-2019 budget year to cover, inter alia, this budget period's costs of the construction of roads and electricity connection for the Tulu Kapi Gold Project. "

Maybe next week we get news?

I am joining you on the top-up. Managed to add some at 2p and will continue to add at these levels if they come up. For me it is not if TK gets finance but when and there is every reason it will this month although Covid cannot be helping matters but Harry will be working hard to seal the deal.

There are probably dozens of new viewers each day looking at Kefi deciding if its the right time to buy in or not and actually when i explore a new company i do find it useful to scan through and find summaries before doing more research in particular top picks from recent RNSs giving a sense of transformatoon or being undervalued. It will sadly get quickly lost under a wall of noise but if your an investor in a company you want to promote what you see that is good and ultimately there is some satisfaction if your position turns out right or wrong. Certainly the omens are good for Kefi and i agree this could be a transformational month with hopeful confirmation of finance that will trigger a series of processes that could result in very high dividends in the years to come, not similar to the share price today and the recent Edison report every new potential investor should read as it pretty much covers everything this bb has said in the last 2 years. Only other thing worth watching is some of the Harry CEO webinars where he might go off piste and go into more detail and does break a smile every so often. He might also move his shares into a pension as he did recently to presumably reduce his capital tax that is arguably a small wink to the future. Clearly Kefi has risks but no one is invested in Kefi for that reason. Kefi is a 10 bagger (harrys words) and hawiah double again (harrys words) or its probably bust. weighing up the information we have today i would err on the side of a successful financing outcome this month. Ethiopian government have not built roads to mine and power for nothing so they are not going to let this be a white elephant, there is too much egg on face at stake for EG who next year go into elections. EG will get this over the line and not a bad backstop for investors because creating the largest single export project in the country has a lot of kudos that present government can be trusted to economically improve the country and that speaks volumes at the ballot box.

Nicely put. i would send them across as is :) The Canadian listing needs a kick up the backside and get some liquidity. if Condor had done this 3 years ago we would probably have an army of Canadians promoting the company locally and leveraging Ross Beatty (billionaire Canadian investor in Condor) properly. Instead it has just been a cost each year and all these fireside chats to raise awareness fall away when investors check the spread at 20% and no stock available. I know the bigger picture and importance of Canadian listing but baby steps 3 years ago would have ticked over nicely. Hopefully we can get a few questions in the mix.

It is definitely nearing that time to load up or ship out as the Kefi turnaround is near. Apart from Covid generally adding treacle to the speed of everything Kefi finds itself in gold bull territory where everyone wants to invest in gold and we are sitting on a large 1.2m BFS certified ounzes of it. Ethiopian banks can now borrow internationally, Ethiopia govt is keen to create the largest export project in the country and from this sense we are in a good place. Assuming Covid is not gumming on the machinery of legals, due diligence and travel there is every reason to expect that the Edison report will be a reality in the coming years. I personally think it was put together to focus on the next stage of the business and move beyond the funding discussion and set out the next phase. Firstly with a good tail wind we are a 10 bag opportunity and that dividends could be close to todays share price within 3 years. What is interesting about gold mines is once the finance i completed the rest is largely a process to build the mine, dig up the gold, process and sell it. Therefore what Edison has said about dividends (i am sure supported by Harry) will almost certainly be the base case for investors. Some might not be looking that far ahead but new investors looking for that yield certainly will and average growth in share price i have seen from miners between finance and first pour is 3-4 so that is also quite healthy over 18 months or so. Therefore on confirmation of the finance this will largely derisk the whole of the project and new investors will join or top-up.

does remind me a little of this but hope the ending is better :)

https://youtu.be/VAFM3P1Mt10

The volumes we see are relatively low and do not warrant this drop. I suspect Randy is selling some more so need to see who will pickup his golden tickets.

Personally of course we all want things to move quickly and personally my greatest frustration is that the toll milling has not been agreed formally but mining is a notoriously slow process but i am actually impressed how quickly we have acquired the vast majority of the land to date in last 3-6 months and the progress of all of the technical studies and ancillary work around the mine selection and finance that are at a very advanced state. We know the land remaining is not in the mine site itself but in the license area somewhere, albeit presumably of some importance or we would not be waiting. The land will be settled. I am still confident that MC who recently said of mine clearance in December and we have photos of roads to Americas pit being cleared in readiness is also happening. personally I would like to hear from MC the potential size of the dividend he has in mind once things are known as i suspect it will be excess of the current share price paid annually. The moment this sort of information is made available people can start to make their own yield risk and reward assessment but happy to hold because the dividend should richly reward even the lths.