Member Info for Simms45

interestingly i managed to move most of my CNE to IB and i was able to trade these shares probably over 1 month ago. It is a global brokerage that covers all markets and was pretty impressive. However some of my shares got stuck in the move from HSBC who said they were not able to trade theses. However as it is their fault the shares did not move over they are trying to get this sorted. Latest update is that the hard copy share certificate got got lost from HK and they are asking for new ones. i have a named contact at least and can get updates and have my own folder apparently but it seems to me the HK share certificate issuer has made a complete mess of things. Why in this day and age they cant do it digitally i do not know. Why do they need to send a hard copy by a very slow form of delivery.

The company are on purpose not sharing contract wins or engaging with shareholders. I have sent basic emails and had no response from anyone. They know that if they did share news that the share price would rise and more people show interest in the company and invest. Why does a company do this? The only reason i could think, but it makes no sense as they spent £1m to move to HK was to now throw their toys out the pram and say HK do not get us either so we are going private and offer a derisory offer to shareholders. i cant believe it frankly as probably they had that chance moving from the UK, although fleecing investors in HK for £9m at $1HK was a pretty shrewd move and now they have £9m in the kitty what are they actually doing with it. Anyway everyone should contact CNE and try and get some news as at some point they will have to respond.

Share is moving and glad i topped up as Kefi is worth so much more than £35m, We just need to remind ourselves that TK just from the open pit from recent RNS shows the NPV is £236m on $1700 gold and around 60-70% of the stake. When you add in underground and what Hawiah and JQ are worth you have to start thinking where we are heading for. Within 2 years we should get close to this number and probably a lot higher.

i think you must be hallucinating to think that CNE might share any contract news with shareholders such as the Mongolian project :) If we are lucky it might be a footnote in the next accounts. I am sure if they win any backslapping award from the local institute it will on the front page. Looking back over last 6 years there is a pitiful amount of shareholder communication and sadly it looks that the leopard did not change its spots. i am sure the BOD will be blaming the HK investors next for not understanding their business and maybe trying their luck in Dubai and spend another £1m on moving. If they just spent a small amount of time engaging with shareholders, updating website, basic PR they would find not only new sales opportunities presenting themselves but lo and behold we might see investors and institutional buyers showing interest. E10 is not going anywhere soon and will almost certainly expand globally. They had a chance to come out guns a blazing in HK and they totally flunked it like no other. Dont get me wrong i think the underlying business is great but their two fingers to all their investors is really starting to gripe and their UK website still links to the old LSE share price data etc. Simply unbelievable they can create feats of great engineering but cant do something so basic. My biggest concern now is whether the BOD are up to something that is not in the interest of pis.

Great to see the language now used in marketing as it does the selling. 5 star reviews, which top rated etc etc. We did not have that last year. Yes Eve are a 25% sale and its the first for a while so they are also now focusing on smashing the revenue estimates. got a great company here and just needs to settle into a steady canter and let the market catch-up.

I think the £1.5m bridging options comfirms placing is not anytime soon. Realistically that gives us 3 months so plenty can happen. We have no debt so assuming financing is agreed and banks know the gold will be on stream in 2022 i do wonder if debt will be an option. I am also not sure if any of the funds will arrive into Kefi as fees for services as remember we are a 60-70% shareholder in TKGM so its slightly different setup. Regardless i think placing is only if funding gets put back to January 2021. I just do not think a raise will happen before TK funding and then given strength of Kefi at this point not only are investors falling over themselves to invest but debt and further forward selling of gold comes into play so they are no longer constrained by placing as only option

Nice buy. Condor is now about execution of the plan and that is one place i am very confident that MC can deliver on. Not long now really before that transformational news will drop and a whole new investor base will start to move in and RM will have exited. That could all come together in a big way this year.

if Harry had released PEA last week or even next week after dust ha settled it would have been a different story in my view but last few days have just been one of those risk off days. The RNS today clearly gives a positive steer on the TK financing which is hugely encouraging and that find that we have £1.5m of short-term cash if we need from bridging is clearly very good as that gives Kefi the time later in teh year when shareholders should be double the share price today. Also am i the only one who was a bit miffed why he released 2 RNS in one day? Normally CEOs are only too keen to spread these out so the information is absorbed and the share price factors this in. My only conclusion is he has further RNS to come shortly so these were the starters before that he needed to get out the door quickly before the main course. Also liked the fact he put date of 26th October for webinar. Harry would probably put in that date so he can wallow in the limelight for the first time in years after TK financing :)

BTW this is level2 data showing likely movement to 2 with a bit of a swell. my guess is that every ASK not marked with a MM is Spreadex exiting. what i have been seeing is that shareprice often rises from 8am-10am and then Spreadex adds stock to the ASK that depending on the amount takes up the day. sometimes it is gone quickly and they then release some more and this goes on. Frankly it will be great when they are gone but today you can see there is pretty good run back up to 2 in quite quick succession.
1.905 146,533 15:24
1.91 145,000 15:24
1.99 216,487 14:18
2 250 12:21
2.03 200,000 CFEP 12:54
2.05 200,000 STFL 14:56
2.09 40,000 11:56
2.1 300,000 WINS 14:08
2.15 12,000 11:02
2.18 250,824 09:13
2.19 234,050 08:53
2.24 320,000 08:58
2.25 200,000 SCAP 09:16
2.25 300,000 PEEL 12:33
2.27 200,000 SING 12:16

It is strongly anecdotal based on monitoring level2 for several companies that have Spreadex as a large shareholder. No other companies behave in the same way as these and all their offers on bid and ask are blank so sadly they do not identify themselves. If you look at level2 for specific companies and sadly monitor them overtime for a while you see things that only make sense when you look at the business model of Spreadex that actually is the counterparty to many trades and not just a platform and why you can buy any AIM stock when clearly some stocks are so illiquid you are talking about 100s of investors and the chances of 2 investors at the same time going short and long is nigh on impossible. Anyway Spreadex are now below 3% shareholder so we do not know what they are doing but are down from 7% sometime ago so the expectation is that they are on their way out and when you come to buy stock in Kefi you often get very narrow margins to the share price because they are actively selling and trying and exit their position. They have probably wiped out all the traders in Kefi on their platform and now trying to exit, which is no many aim stocks cannot be easy. Dont you think it is very odd that Spreadex had over 7% of Kefi at some point? Did Spreadex have a whale spread betting investor? it is conjecture but i will see when Spreadex are out as you will just get back to normal MM activity. i promise i will not talk about it ever again as frankly it is an anomally that i probably will never quite understand.

Picked up some more at 1.907. Clearly all of those trades are buys and not sells as it is showing. Had a to dig deep for that one but need to put your money where you mouth is.

Spreadex are not identified, that is partly why you know who they are as only companies with overweight Spreadex shareholding you see this anomally. Spreadex algorithm moves bid and ASK around in the spread to maximise its profit by forcing closure of positions. They can do it because voume is small and while they might make some loss pushing a share price down they make it up by pocketing thr spread and wiping out customers who they are counterparty to. Spreadex directly bets against customers where there is no other customer snd hence all the crazy small trades and weird spread along with quite narrow spreads at times.

1.77 and 1.88 is roughly real spread but Spreadex and managing both ends at the moment and moving it around to close out their customers spread bets where they can. Anyway looks to me someone is loading up a decent buy in the background so could be a bit more positive momentum incoming.

Mms making a killing on the spread. Level2 looks to be leveling up the ASK but seems some people might have had stop losses triggered as its a painful bid. Spreadex was out in force today also selling us down but they are slowing up, if i was not already well invested in Kefi i would load up some more. However very happy that fundamentally everything is on track and in normal times the RNS today would have had the market stocking up as the small positives dotted in the RNS tell where Harry is and its looking now beyond TK to Hawiah and JQ. Obviously getting TK over the line will will be massive and the rest will take care of itself as the cashflow from TK is incredible when you consider we are skirting a crazy £32m?

The market is the market and not a happy place if your short-term but the valuation of Kefi is grossly undervalued and time will ultimately resolve that. Gold prices will rise as more QE announced, even though short-term a lot of traders have had to dip into their gold reserves to stem the losses but sentiment will come back with avengeance.

The market cap today barely even covers a fair valuation for Hawiah, let alone Tulu Kapi and Jibal Qutman.

The key for TK is that we are fully paid up as shareholders for the initial project financing that is due shortly and our $60m of historic investment is recognised in TKGM. Of course we need working capital etc but this would be penciled in for post TK financing and very much welcomed i expect from shareholders as we should be in very good territory on the downhill slope. We should be then looking forward to producing 140k ounces of gold at a AISC of $800-$900 as soon as 2022.

Harrys language throughout both RNS does not even hint at slowing progress so that is pretty bullish :

"The PEA was conducted by the KEFI planning team which is being switched over from the Company's Tulu Kapi project as appropriate, as will the development team in due course when Tulu Kapi moves into operational mode."

Then without forgetting throw in Jibal Qutman and you are simply laughing all the way to the bank vaults :)

"Assessment in 2015 suggesting estimated operating costs of c. US$600/oz and estimated capital expenditure of US$30 million demonstrates that Jibal Qutman's Mineral Resources, totalling 733,000 ounces of near-surface gold, should be highly profitable in the current gold price environment."

for those investors willing to wait for first pour at TK how can we be valued less than £200m at that point? That is still a bargain but even on that low ball valuation those here today should be looking at 5x return in less than 2 years, and i suspect it will be far far more as Hawiah and Jibal Qutman will be adding to the pot.

Have to bear in mind Kefi have not even barely scratched the surface as this is just 7 months of drilling and it is already showing massive potential With a small additional amount of drilling they are, in their own words :

"A doubling of the resource with material of similar characteristics as the maiden resource would indicate an estimated net cash surplus of over $500 million before financing costs and tax."

Harry believes the resource is much larger still but he wanted to show to investors early on how good a prospect this might be.
There are too many paragraphs talking of upgrades :

"scout drill for a large stockwork zone or "feeder zone" to the massive sulphides which represents a separate and even larger-scale target."

"The increase in copper grade with depth at Camp Lode is particularly exciting, as it may indicate that resources are nearing the source (vent) of the VMS system, an area where higher grade copper mineralisation is typically found. Further strong resource potential is located below the Central Zone as highlighted by a strong IP/Rho geophysical anomaly. Planned drilling is targeting deeper mineralisation at ~450 metres VD. The Central Zone has only previously tested to 80 metres VD."

We can start thinking big around Hawiah and the more we prove up the bigger the NPV for the same sunk capex.

I am going on Website of Kefi that explains this but its an incredible juristiction, nothing like this available anywhere in the world and the new mining legislation was last year :

“ Saudi Industrial Development Fund provides loans for up to 75% of the capital cost of mine development at nominal interest rates;”

Our partner is the Saudi Royal Family and Saudi offers a 75% low interest loan as they are massively trying to grow natural resources. Hawiah is massive and will be a fast tracked mine development. That is the major difference in that the mine will come about a lot faster because all the usual impediments have been removed. Its an absolutely incredible find.

Gla and lets hit the next target of 3p :)