Member Info for Simms45

For me a few BIG take aways are :

KEFI’s market cap today is only 14% of JUST Tulu Kapi NPV at $2,000.

That is excluding Hawiah and Jibal Qutman resource but until we get the PEA we do not know exactly the NPV. However taking a wild guess we are probably today around 9% of NPV once those 2 opportunities are thrown into the mix.

If TK financing is announced we can expect to see a decent step change and significant interest growth from institutional investors that come in once a gold mine is financed.

Great also to firm up that since we got rid of the shambles ANS group of investors who wasted Harrys time and got the wrath of long term holders our beneficial interest in TK is moving from 45% to c. 60%. What is interesting here is that it looks to be settling and that gives us an idea that Harry knows the shape of the financing. Numbers have been touted but this is first i have seen c 60%.

The EBITDA at 60% of TK is $58M per annum. Current market cap today is £38m/$50m so if you took a low multiple of 10 you would have a $580m market valuation once gold is poured and once we confirm the actual EDITDA numbers are correct. That is 10x just on TK in 3 years time! Throw in the other resources and increases in reserves from more drilling and who knows where this might go.

£50k of buys just gone through. Hopefully see bigger money get on the kefi train.

Ill drink to closing above 2p. Hopefully now the brakes are off and we move a little faster as September is very close now and PEA and TK Finance update/news could be at anytime. Realistically i do not disagree that a good run of news could see us at 4-6p+ by October and arguably higher depending on news. Kefi is all paid up for financial close and the job is selecting the equity investors to join. What is also remarkable is the mine build actually starts in October and things are readying so much has already been done with Ethiopia Government. Once we get to mine construction the countdown to first pour is on and normally gold explorers see a 3-5x for comparable minnows as the project derisks. therefore if we saw 5p by October then 15p+ by first pour is not out of the question with Hawiah in the background gathering pace. All to play for and gla.

Given CNE has never released any news since its IPO the market could well be in the dark and hope there will be a rude awakening at the scale of profits, forward order book and hopefully a maiden dividend. Gla

Topmoney i trust you have sent your list directly to Richard on his gmail account?

The more pressure applied by shareholders helps people like Richard who are effectively looking to bring things to the BODs attention. i think the share price is a very serious issue for the BOD as a low share price significantly reduces CNE options such as acquiring other companies and raising finance when their valuation is lamentably low and around a PE of 3. Certainly they can now cant blame the AIM market for not understanding their business and they now need to step up and focus on providing professional news updates to shareholders and the market. They can start with the 7 MOUs for $50m of possible business that are all expected to be signed off in the lattter part of the year as most are existing customers. I think the board should agree a dividend as they have now had 4 years of strong profit growth and they have built up £30m of profit reserves that could be released. Certainly they face an up hill battle to win back the trust of new investors who are down 50% from the IPO price and saw most of that lost in a few days.

Its a huge vote of vote of confidence as he knows everything going on the ground so knows how incredibly undervalued we are. Condor has continued to steadily march forwards and looking forward to further updates soon.

Do my eyes deceive me or has Kefi made 2p bid finally. Long overdue but looking forward to updates.

Well try and find me a profitable sleep brand perfectly aligned with current economic environment that has £10m in the bank and rising still valued at £10m? Essentially we are worth 0 once cash is taken out. Eve should be valued today between £20-£30m in anticipation of multi million profit turnaround on that news closer to £50m. Plenty of upside and cannot really see a downside apart from laziness of stock market.

while not an exact science we look to have around £189.38k bought and £127.78k sold today so hopefully keep up the momentum and the seller in the middle will be exhausted of stock at some point. Each day we start close to 2p but by the afternoon we seem to drift a little. That 2p might be broken in a spectacular way soon as Hawiah is very very close as due August.

A good long-term buy for Calibre but i guess realistically years away from being able to extract as they do not own the land or have environmental permit. I suspect years away from production?

When you look at it that way this 479 hectares is 4.70 square kilometres. That is massive. Twice as big as the financial square mile in London. There is one thing having a "concession" to explore the land but quite another actually owning the freehold title to the land. From the images we have of La India we probably only needed a small number of hectares to cover the first 8 year plan. I guess the benefit of this strategy will be in the medium and long-term as getting to 5m ounces district should be easy and when Rio Tinto move in for the kill they will probably see a 100 year mine life given the freehold land we have acquired with no issues of landowners ever again. The mind boggles just how many ounzes we probably have in reality as MC always stated we are drowning in targets.

Personally very happy to split all news into tightly worded RNSs to help ensure key news is not lost and each RNS might find new investors to join Condor and stregthen the shareholder base. Certainy moving from 65% to 85% land ownership is a good place to be and i see this as a prequel to bigger news and is first RNS for many months so needed in my view to not drift and keep focused.

I think its correct that the 14 years of sweat and tears and $60m is recognised as our equity input is fair, just as any project that invites investors to partake in a highly profitable ventures. New investors just need to inject cash just at the point of profit and the financing once closed will have substantial cash to support the finance. Once we get this over the line we will be 5p+ at that point shareholders will be falling over themselves to fund Hawiah through placing. However if true and our beneficial interests rockets from 45% to up to 70% which is such an incredible number we have assets that we could get a line of credit on. Very different ballgame when you have closed finance. Hopefully lths today must see this as the trigger to average down and make sure they profit from the future.

Confidence rings out through this AGM. New key members confirmed to the board, Hawiah about to explore, TK in the final furlong. Nice ending paragraph

“O ver US$60 million has so far been invested by our now-combined shareholders and it is great that the Project is finally coming to life after a fifteen year gestation period; and doing so at a very exciting time for the gold industry, the country of Ethiopia and for KEFI."

and Kefi is worth £26m???? And best of all that £60m is recognised i. TK as our equity investment so its other partners that are investing the additional cash. Genius if this all pulls together but woth gold so high and potential profits so high for investors it will more be case of working out who to go with. still 2-3 exciting RNS to come before October. Shareholders will be well and truly rewarded by that day :)

Not that the gold price sadly has ever really factored into Kefi share price movements its doing a volte face this morning and back over $1900 and rising. Would be good to see some RNSs this week and next to plot Hawiah maiden resource and ideally a TK update towards start of September. Still in disbelief we are still valued at £26m and not £50m waiting for Hawiah resource but looking forward to the momentum building.

I can see Calibre released their PEA today so if a toll milling has been inked it makes sense they would not want to release at the same time as arguably it would overshadow the PEA, whereas for Condor it is pretty big news. Calibre will want to squeeze all the benefits from that update and note that Calibre share price has risen today on the back of this PEA. The words in the PEA are very clear how they plan to plan to fix their milling issue with very low ore going through it and none of their proposals will quickly fix the issue apart from Toll milling and exploration and other options are not happening anytime soon. The words "toll milling" are clear for all to see. I am sure all companies are planning how they release news and when and Calibre are largely in the driving seat and bear in mind this toll milling will be a specific time period and gives Calibre time to get its permits together over next year or so. Therefore i think several RNS drop at anytime and when we least expect it.

"The cumulative, five-year after tax cashflow is estimated at $216 million ($1,500 gold) and $319 million ($1,800
gold). The scenario is based on an average mill throughput rate of 0.7 million tonnes per annum, leaving
approximately 1.5 million tonnes of surplus annual mill capacity as a significant opportunity for organic growth via
further conversion of Mineral Resources, exploration success, artisanal ore purchases or toll milling"

Dividend should be on the cards as 4 years of growing substantial profits, and apart from the BOD surely woud like to see more cash themselves after 12 years of hard work and only a salary to talk of but HK investors must be really upset as it looks the company has pulled a fast one. Not sure if in the history of IPOs one could go south quite so hard and fast after the bell. Fingers crossed a dividend is announced as it would help its share price.

Well stayed tuned for Zak Mir later as hopefully thatvwill put a little lead in the Condors pencil tomorrow. Interims this week and plenty of news starting to filter up through the grapevine so something might pop up when you least expect it.

Lets just get Hawiah over the line and lets move up to 2.5p-3p, then some update RNS either later this month or next on TK. Bear in mind Hawiah is a different proposition to TK and Harry believes it could quickly move forward and i think the major equity partner has no issues on the finance side of things. Therefore this helps reduce risk but massively increases the upside of Kefi as it gives another clear path to production in copper that does not move in the same way as gold so not a bad addition. Then all eyes on TK as that news is a double bag on its own and i dont think the market is expecting it as we are at less than a fair price just for Hawiah on maiden resource. Its incredible we are still around £32m market cap many companies just as similiar stage to TK only are 2-3x more in valuation for similar size resource and Kefi are paid up for the project. Crazy times as NPV is 20 times when you add TK and Hawiah together so plenty of upside for all investors.