Member Info for Simms45

Well Eve results due 15th September and if they beat expectations then certainly it will put them into a new trajectory as analysts plot profit targets and revenue growth and probable takeover fodder in 2021. Kefi holding strong and now hopefully waiting for the first of around 3 RNS to drop in the next 6 weeks. Even Zak Mir was looking at 4.5 being the next target so i would be happy to reach that next milestone.

I always like to go back to the last presentation showing the following based on Kefi 60% ownership of TK :

Tulu Kapi Metrics @ $1,700/oz
NPV8% – open pit + underground $253M
EBITDA – open pit only $58M p.a

Therefore just TK is $253m at $1700 and we should see $58m pa. If you think $1900 it is considerably better.

Throw in Hawiah and Kefi could be easily a $500m+ NPV once we get a PFS for Hawiah, although that must be 1 year away from being completed. Valuation for the whole company today is only $60m so massive potential upside in the short and medium term.

6 trading days left before results and we are still valued at less than £5m once you take out the £10m+ cash in the bank that is growing by the month. Eve is an outsize profitable growth story so market might be surprised next week if the language used in the recent trading update is upbeat.

Nice buying Goldboy to average down as you have done. Never easy to do and takes nerves of steel but that now looks to have been a smart move. Still plenty of time to average down in reality as the growth is only just starting and with 2 massive assets and 1 little keeper, and assuming TK works out, the cashflow will provide most of the requirements going forward and dilution will be far less in the future for all concerned.

As i speak Spreadex added a 450k pot of stock at 2.68 and then stacked stock at 2.76 Could well see 2.8 tomorrow.

2.68 450,000 12:03
2.76 45,600 12:02
2.76 150,000 12:02
2.76 250,000 12:02
2.8 120,000 12:02
2.8 60 12:02
2.85 200,000 CFEP 12:02

In regards to Spreadex they are still selling in the market but not as aggressively as before and partly explains the recent increase in the price growth as demand outstrips supply. Very happy to see slow rises to build a support base. Spreadex recent RNS halved their holding to 2.9% on 1st September so if things continue they should be out from selling quite soon.

Interview was a barnstormer in my opinion. Very exciting 6 weeks. PEA is due sometime September and should underline the Saudi Hawiah that even with the small drilling done to date will be larger than Hawiah. Harry mentioned he expects ultimately Hawiah to be a multiple bigger once more drilling is done. Most exciting bit about Hawiah as with the Saudi Royal family as main shareholder i think the coast will be made clear to see this move quickly and money is clearly not going to be a complex hurdle. Jibal Qutman cant be forgotten as in interview Harry said that once regulatory hurdles are overcome this can come into action very quickly. Obviously TK is the big ticket item today and some form of RNS could happen before the end of the month if Harry is planning to potentially go to Ethiopia early October to meet with government and get everything moving. Certainly a lot going on this month so sit back and watch the action or dive in now before the train departs.

Book5 also posted this later in day so it looks pretty solid for a 100% land ownership RNS quite soon if confirmed and it would not appear that someone is digging in for a fight or chaining themselves to a tree. Possibly just money or paperwork.

“My contacts are saying she will be selling, for them it seems certain it will happen. Gla”

Also i would point out i have been able to trade my shares for last 3 weeks or so and therefore sounds it depends on the broker as to how long it might take. Obviously given the 60% fall from IPO i was expecting a concerted effort by the BOD after the recent results to change their ways but i am disappointed they are treating shareholders at such a distance.

To be fair to CNE they have never provided ongoing RNS on project wins but it maddens me they have not engaged to disseminate information having spent $1m moving to HK largely on the basis they thought UK investors did not get their company. . They can redeem themselves but i cant believe they have the audacity to have not done a single update to the market of any merit, no investor webinar, no updated investor report, no presentation update, no news. how can any company act this way, i am also dissapointed i have had no responses to perfectly legitimate questions. Again in all companies i invest i normally get a response relatively quickly. on paper CNE are a great company but its like pulling teeth to find out anything that is going on.

Your probably not wrong to ask for documented proof all contracts exist. There does not appear to be a single photo of a single projects. Where is documentation these contracts actually exist? Richard B is only a non exec so is more just a guiding hand at certain board meetings but ultimately he appears to be the only contact with CNE. i have made contact to company and nothing back. There appears to be no one responding to shareholders. CNE really are in a class of their own for opaqueness. Today EQtec announced a £500k deal for waste to energy but they share news with shareholders and its great for business and growing their profile and market cap. If Eqtec can pop 500k little deals out to the market then why cant CNE muster up a single RNS for anyone of their so called 21 contracts or 43 of ones in pipeline? Just need to know this company still exists as if you look at the website you could be mistaken it does not have any business at all.

I think the market will be positively surprised when Eve release results for last 6 months in both growth in last 3 months especially and profit and hopefully some guidance but new management have refloated the good ship Eve and is going at a rate of knots today. When they open the marketing sails with the new agency we will see how a new set of sails can really propel Eve forward. They are doing everything right at the moment.

When you see that the average price to book ratio for gold miners is 2.56 on CSI markets and Condor is currently .35 from the last presentation you can see that once we get to production there is a significant gap that needs to be closed. What is also incredible is that in recent presentation we still have a NPV of $190m at $1250 gold? what is the NBV ar $1950 gold? I suspect it is between 2-3x but probably someone knows exactly as there is $700 an ouze going straighT to the bottom line.

Book5 has been a credible source in the past so i am sure he is correct. If we are down to 1 landowner then that is great news as the whole village and local Mayor will be looking for job creation and they must be applying soft pressure. You must also ask if we cant work around this landowner but i am sure if they could they would. When we get that 100% land ownership RNS i am sure it will trigger a series of RNS as i suspect nothing was going to be released until we have that confirmation. Frankly we have gone from 65% to something like 95% very quickly so i suspect it will be pretty soon and can start to see the gap narrowing towards our NPV that makes Condor look ridiculously undervalued.

BID
Depth 7
07:59 ARDA 200,000 0.57
08:23 SCAP 200,000 0.57
08:24 WINS 250,000 0.57
07:50 CFEP 200,000 0.55
08:26 JBER 200,000 0.55
08:27 PEEL 200,000 0.53
07:57 STFL 200,000 0.41

ASK
7 Depth
0.58 200,000 PEEL 08:27
0.6 200,000 CFEP 07:50
0.6 200,000 JBER 08:26
0.61 200,000 STFL 07:57
0.62 200,000 ARDA 07:59
0.62 200,000 SCAP 08:23
0.62 250,000 WINS 08:24

9 days until half yearly results to show to the wider investment community Eve is at a turning point. Could be a lot of activity in the lead up as we are still massively undervalued today and there is a prospect of a good final year profit if things keep on growing the way they are. hardest thing to do is resist topslicing a good stock and nurse rotten investments that will never turn. Best thing i ever did was clear my portfolio of deadwood and invest a fair amount in Eve and so far resisted temptation to sell early. Have done that many times only for those shares to 5-10x so lesson learnt and Eve will be 10-15p in due course.

Nice headline to the talk

“Gold with Harry Adams of Kefi (KEFI) ahead of the most exciting six weeks of his career”

Well thats something go look forward to.

I would be more worried closer to home and Nicola Sturgeon independence than a small nothern province trying to get their voice heard in parliament and looking to extract some concessions from the government. Ethiopia is about the most calm country in the whole of Africa by far with a nobel peace prize winning President who is against all this conflict. Look at Democratic Republic of Congo that has a travel ban and daily attacks but does not stop half the worlds mineral companies doing business.

You do wonder if the BOD have planned this to first extract millions from gullible HK investors now act in bad faith to investors keeping them in the dark and not providing any updates and then once company is worthless for directors to buy shares on the cheap. Seen something happen similar before.

Spreadex buys the underlying share to hedge their bets. therefore its closer to the casino betting against the bank but Spreadex also earns the spread by actively buying And selling in a round robin style in the market or changes exposure depending on users betting habits. There is a youtube video from Spreadex explaining they take counterparty risk as largely there is not enough traders to short and go long on every tiny AIM stock. Anyway down to 2% and anyone closely watching price and spread on this stock knows price is locked in for months and then moves up aggressively when Spreadex goes away. Currently Spreadex continue to sell so holding is getting lower and hopefully they will be out to let market find an equilibrium as it should north of where we are today.