Member Info for Smellyben

Is there a link to the news ?

Stan for those of us who don't subscribe what did he say ?

Artar and kefi valued Kefis share of Saudi at 11m pounds a few weeks ago - and they still owe Artar 3.5m so kefis net share of Saudi is circa 7.5m - from the rns a few weeks ago - check it out and ignore rampers with fairy stories look at the hard financial facts

We will see - last placing was at 0.7 and the shares went to 0.55 a few days later - I'd expect 0.5 tomorrow but depends on what the demand is for the primary bid I imagine. Fact is he has sold Saudi assets and now obviously funding for TK is delayed again

Rob - you should hang your head in shame - endlessly ramping, criticising posters who highlight Harry's continued failure and lies - i imagine you have cost many PIs lots of money - at least have the humility to admit you were were wrong and apologise. You are Harry's useful idiot.

This only goes back to 2020 - i was in in 2018 an dit was the same then as well

Funding to be signed by:-

October 2020

No before Christmas 2020

PLACING

A few more weeks,

NOTHING will stop it happening by 31st March 2021

No June 2021

No July 2021

October 2021

Q4 2021

Christmas 2021

PLACING

Anytime between Feb -May 2022

PLACING

full funding by June 2022

October 2022 construction will start

Mid November financial plan 2022

no now it's December 2022

No A month or so (may 23)

PLACING

No A few more months

Q4 2023

End of the year

Some time in 2024

No it's H1 2024

PLACING

No Mid 2024

Do you get it yet?

Get a placing away now to buy Harry another 6 months salary and consultancy - he really is shameless - I feel for the new investors but you cant say you werent warned. See you in 4 or 5 months when there will no doubt be final preparations ahead of project launch........yet again

What is keeping it so long - no news at all on WG, SD or KS21 - nothing, niente, Nada FFS

Check out Ale and Gaia Holdings - seems to be the personal plaything of Dario Sacchetti the Anavio boss - maybe one of our amazing analysts can dig into that little gem

In the telegraph today

Britain to harness power of Sahara solar farms using 700ft ship

Electric lion - it is public record what Artar paid for 2% of Saudi assets - between 500-1m depending on your interest rate assumptions- so 25% KEFI share they are left with is circa 11m less the 3.5m owed - all in the rns from a few weeks ago - if u are thinking of investing please read facts not conjecture

Artar and KEFI have already established kefis

Share of SA is worth circa 11 by their last transaction- less the 3.5m they owed as of 2 months ago so 7.5m in reality. That leaves circa 25m for 70% or so of TK. If Artar can keep spending on Saudi development and KEFI can’t what point do they just trigger default and take it all ( for a price already established)

Ethiopia, still has multiple steps to go through before funding - yes the 2nd bank must sign off provisionally then the dozen or score of equity participants must sign off their investment ( what happens if one or more can’t or won’t?) will it be like ANS 3 years ago and back to square one or is there a back up plan ?

Then you might find out what interest rate the banks are charging for their hundreds of millions of dollars investment in an unstable pay of the world - if you think 8% as Harry has implied ( but never stated so he is in the clear) then I don’t think you are correct

And then there is the small matter of actually delivering a gold mine in 12-18months something this team has never done in a jurisdiction where problems can crop up anytime

Just be aware people - some rampers are either naive or over optimistic

If we don’t get an update this week I’ll be writing to the CEO - nearly 2 months delayed this sale

Unfortunately they have to wait for various sign offs and authorisations from the Egyptian govt - outside of their control. Last time they gave an update a couple of weeks after their stated date and I expect the same ie some comment from the company in the next week if there is some delay detailing the situation or better the finalisation of both sales and an update on the latest drill

So just googling looks like bank deposit rate in Ethiopia is 7.6 % - deposit rate - lending rate on a house there will be circa 11% - on a commercial gold mine 15% ? Just DYOR

If money was the issue why was a rights issue never considered when the share price was 20,15,10,5p that would have raised oddles of cash rather than the destruction of the death spiral finance and the apparently changeable strike price that can be moved from 4p to 0.015 p at the drop of the hat without shareholder approval- clear theft not just of existing share price but of all the potential value the shareholders had been led to believe existed ie the theft isn’t just off the 5 or 6p or whatever PIs bought at but the 50-100p that the assets were worth before they decided to steal it from the people who bankrolled them

Yes DVH understand completely- problem is I trust the gold is there but I can’t believe they can get financing at 8% - has that ever been confirmed as I have never seen it - if it is 15-20% - the whole benefit to PIs is lost They dont lie in the RNS s but they don’t tell the truth - last one made it appear that they gave away 10% of the Saudi assets for 3.5m (which would have been ok) but it later emerged that that was just for the facility and the 3.5m still outstanding- I and more importantly the market does not trust Harry

yes better to be a big fish in a small pond, extend pipeline to spain, optimise drilling , expand use of existing pipeline, long term contracts with offtakers for the core.

then the plan is to plug solar into the network - morocco is hot hot hot and sp****ly populated so if they can build an infrasture and pass that to industry (and maybe to europe in time happy days but that is a 10-20 year project.

mgt reward is aligned with shareholders so that is good but while i understand approvals are out of their control i'd like to see some reassuring comments when deadlines are missed - we were meant to complete by end of year then end of jan - mid feb now and no news

Newbies might see this announcement as proof that the project is happening and not understand why the SP doesnt rocket but anyone who has been here for a year or more (7 in my case) knows that it is because Harry has said similar things in the past and we have moved from 350m shares to 4billion or whatever while losing nearly half of our Saudi investment (which was the reason many bought in in the first place)

I say that Harry is still being disingenuous - how can thing sbe finalised if he STILL doesnt know what share of TK Kefi will own - how can he achieve a 8% discount rate in Ethiopia when my own company in dear old Blighty cant get that on a secured basis for our projects currently - unless Surrey is gonna have a civil war with those Middlesex fellas - doesnt smell right - surely anyone who has tried to borrow money recently can see that. What happens if one of the 20 or so investors decide its not for them - what is the back up plan like ANS 4 years ago are we back to square 1 with Saudi valued at 11million, debts increasing . HArry will do OK hes getting around half a mil a year via his salary and consultancy agreement - but investors - DYOR

See Mike lynch from Autonomy up in court today facing a 4billion claim for fraud

Also see government announcement of major investment in fraud investigators today

Hopefully RBM and the team can bring these fraudsters down - I don’t know how they can sleep at night with the damage they have done to hundreds if not thousands of PIs - divorces, suicides, pensions lost, life savings all because of their lies and greed - do NOT let them just swan off to their next victim. I for one will never forget what those individuals have done.