Member Info for Smellyben

That’s interesting- my own preference would be the opposite as most mergers and acquisitions fail due to complexity, dilution of management focus on the integration of people and systems - I’d rather they do as they say in their strategy and focus on Morocco, and use their current infrastructure ( expand as necessary ) to grow there - we need to sweat our assets and benefit from economies of scale so any foreign expansion would make me doubt they have thought through the strategy and I’d be gone but each to their own.

Be good to get an update this week though on the sale

They have already said whet they will do with the money from the Egypt sales - pay off the debt and invest in the Morocco infrastructure.

Well I’m not sure why the major holders would sell now for 6p when they turned down 11p a year or so ago especially now with the solid progress on the Egypt sales news on which is overdue but I think the IMF deal will unlock a lot now

I've been in touch with Global Witness - the team that uncovered tbe African scandal involving Art, ExxonMobil and Copl and they are now engaged looking into it but of course it could take time but same cast of characters same conspiracy to cheat and lie

Please read this report feom Global Witness for anyone who doesn't think this is corrupt. Dame cast of characters - art, ExxonMobil, copl, same lawyers , same murky relationships of directors, transfers of assets massively under and below true

https://www.globalwitness.org/en/campaigns/oil-gas-and-mining/catch-me-if-you-can-exxon-complicit-corrupt-liberian-oil-sector/

Https://www.google.com/amp/s/amp.theguardian.com/business/2018/mar/29/exxonmobil-liberian-oil-deal-went-ahead-despite-anti-corruption-concerns

Tw - the last RNS confirmed the 2% was just for the facility - the 3.5m remains outstanding so your calculations are wrong

My own had assumptions I expressed ie 8% interest for 2 years - could be a but more or a bit less BUT the 2% most certainly did NOT pay off the 3.5m if u read the RNS

Tw gardner - so strong and supportive that they have taken 40% of Kefis share of the project - from 40% now down to 25% - with ongoing support like that I think maybe kefi will be down to zero for a fee of £7m as they have already established that 2% is worth circa £580k in a transaction

They got Bernie Ecclestone, the crypto guy bank friedman, the Nikola guys, the elizabeth Holmes woman etc etc etc - make enough noise and enough wrong doing and it can get sorted.

Remember just before recent destruction of the Anavio finance deal at 0.15p - a twentieth of the prevailing share price a few days before the company worth about £30m - that is easily available from fines from the individual personal board members funds in a civil or criminal suit - never mind the eventual outcome of the restructure/sale of the assets or what the authorities do

I'm sure there are litigation lawyers in the US and CAnada who would take on the case on a contingent basis - I was in a small company called Nano who were illegally screwed by Samsung stealing IP - a US lawyer was employed at no cost except 30% of any award - Samsung denied and denied and said see you in court - on the day of the trial Samsung coughed up $80m. I'm sure thats one aspect RBM are looking at - provide enough circumstantial evidence / info to get them interested and this could be worth 10s of millions in fines even if the authorities do not act - that is why I havent sold or bought a single share since this debacle started

The idea of a demo was only floated a few days ago and I think I replied that I would be able to do something on it next week when I'm off work - I'll get some sort of online registration where people can sign up and say when they are free and able to attend. Then we need to decide ( depending on numbers) the strategy - just outside anavio offices or individual directors homes, the fca etc to increase pressure - depends on numbers and appetite but wouldn't be posting details here as we know we have stooges here trying to disrupt efforts and forewarning so they avoid our locations like the cowards they are

Well they havent been able to fund the 3.5m so far (their share of the 19.5m dev spend) AND they said they will continue to rely on Artar to fund all the development costs - whether Artar will continue to do so out of the goodness of their heart we know Kefi do not generate a single solitary been in income and wont until the mine is built if it ever is - at least 18 months away on a best case ideal scenario

Artar received 2% of Saudi projects for the the financing of 3.5m - just the financing - at say 8% for 2 years - that values 2% of Saudi at circa £560k - so Kefis current share of 25% is valued at £7.25m - thats it, thats all - that is what Artar and Kefi have implicitly agreed it is worth at this stage. Artar has the right at any time to purchase Kefis share IF they are not able to fund development - which clearly thay cant - I expect Artar to buy out Kefi in a year / 18 months for peanuts - why wouldnt they ?

If Kefi do not keep up with the development costs in Saudi Artar have the right to purchase Kefis share at an independent valuation - and that I believe is what will happen in the next year

Still no answer on this I see .....

Brill thank you

But was there some controversy during the last AGM vote to remove Art, Tom etc all when all the UK votes were not counted - this could all be nonsense so apologies if so but it might ring a bell with someone- more evidence of skullduggery potentially if I'm not going mental.

Ps talk of a demo has gone quiet - I'm free next week to pull something together - very happy for someone else to take the lead though !!!

So that means that isbtbe price they are able to buy the shares or do they get the shares for free ?

Just on the board options.

they vest in various tranches when certain market cap milestones are reached but do they have to pay for them at the strike price - so for example if the map cap is 12m (share price of circa 6p) do they get the option to buy at 4.5p (so effectively 1.5p free) or are they entirely free ie 6p??

Alfresco there are plenty in the same boat as you - that's why they miscalculated this time - if they think we are gonna lie still and not get justice one way or another they are living in a dream world

Just a thought but we could maybe stage a demo outside their office one day in London - would be embarrassing for them and any clients in the building and might get some media coverage and would get to look in their thieving eyes

Hardly any volume last week - as we have a valuation of west G - anyone extrapolate what SD might go for? Seems to me SD is roughly worth circa 1.5 times west g so 10m dollars plus 6.9m for WG so 17m dollars or 13.5m pounds sterling?