Member Info for Smellyben

Very few shares seem to be available- will try again tomorrow

must be the last of the convertible loan

Actually let me correct that - they get 15% of $285k so around $40k or £35k - that’s the effective expense to the business -

They effectively get 15% no matter what the price so the higher the better for them

85% of the prevailing price - depends when they wanna cash in - no doubt they will forward sell like last time - circa 70m shares if they did it now - a wee bit painful but not so bad

Has Harry ever given warning to a raise ? Last year at this time the share price rose to 1.4 (about 1.8!equivalent) and he gave similar webinars - the plan was finance closing in June 22 - the raise in Aprilnwas a kick in the balls for most shareholders but was sold as a clearing of the decks ahead of final financing when I bought back in . Now the financing plan does appear to have inches forward no doubt but it is still dragging and the to do list was substantial and outside Kefi control - just like a cash raise.

Also yes the gold price has increased but interest rates have quadrupled from about 1.5% to circa 5% for rock solid finances - suspect the 7-8% previously negotiated with the banks will be now 10-11% - no and that will have a big impact on the economics ? I have said several times in the past I’m very very confident that the mine will be built because there IS gold there and the country needs it But my concern was always whether the PIs would be effectively wiped out by dilution after dilution- Harry and his team will be fine because he will no doubt get shares at rock bottom prices - PIs might be screwed but this will be my last post for a while - will still keep an eye on Kefi and congratulate you all if closing happens this time but as a now ex shareholder I don’t want to appear as a deramper

Yep good news indeed - no dilution at low prices - now roll on FCA application

I am completely open about my thinking and my trades Robin - as anyone who is interested can look back on - yes when I think Kefi is undervalued and closing might be soon I buy and when overvalued and closing seems far off I sell - I certainly have no shame in that and have done very well in the past.

A few posters ( like yourself) have said things like it makes no sense to raise now but the fundamental point is that it isn’t in Harry’s gift - I presume you agree that Kefi owe millions to RAB that they can convert into shares like last time ? Some people perhaps not you seem to think Kefi has millions in the bank to keep spending despite the delays - they don’t they had a million quid back in June 2022 as per the last accounts - If RAB don’t want to lend anymore what can Kefi do - not pay it’s workers, not pay for the Saudi share of development- they have to do a fundraise no matter what Harry does or doesn’t want - yes if RAB want to keep its wallet open it can continue but there comes a point when the risk will be too mich and they will convert and forward sell like last time when the share price went from 1.4 to 0.7 in a day last year (and similar incidents in the past eg 2018 - look it up for anyone who does not believe.

My point is it is much safer to invest After the inevitable fund raise than before as I have done but each to their own

No - I sold 9m shares over the last 3 days in various tranches - the last of my shares - so not that significant given the volume.

Yes I could buy in in the future depending on various things because there is no doubt there are assets there but id want clarity of percentages, saudi share of JV and financing etc but I do feel a sword of Damocles hanging over us at the moment and I very much doubt closing of TK finance will happen before June at the earliest even if all goes well given the large to do list - I’d prefer if he just bit the bullet and raised whatever he needs to raise - like a lot of things it is the uncertainty of how much it will be and on what terms is the killer - also please god no to any cash bonuses like he tried to get last time.

As a long term holder and one time owner of 2% of Kefi ( about 4 yea res ago when there were only 400m shares in issue) and As I mentioned a few weeks ago I sold down most of my stake recently and am now out completely - nice little rise helped me liquidate. I did the same a year ago when the shares went suddenly up to 1.4p just before the big dilution while many thought I was mad.

I could be wrong this time of course but I think closing of the financing is at least 2-3 months away and it is not certain with the current banking crisis.

In the meantime I think it is beyond dispute that Kefi must have liabilities of anywhere between 7-10 million pounds depending on how much has been spent on development, the staff costs (now massively higher than in prior years , expensive advisors etc)

We know that RAB ( 90% RAB or another shareholders) have been providing cash flow loans at a horrible rate circa 20% - as they did this time last year so if they request to convert into shares that could be billions that need to be issued.

I strongly suspect that like last time the share price suddenly and unexpected rose from 0.6 to 1.4 in April last year that this has been manipulated and you will see a large dilution in the next fortnight or so with promises on the cusp of a deal etc - and that may be true - at least as much as Kefi can have control of such things - but there is a 20-25% dilution coming - we will see

Google Sunday roast gst - Shane gives a detailed explanation of the 3 main revenue streams

A few of us have already written to the FCA but we’re probably written off as a few disgruntled investors with an axe to grind but now I imagine they will have to take this seriously and open up an investigation- hope BT likes prison food

They were a couple of months later than their guidelines in the Angra deal and they are a couple of weeks late here as well - to be expected and outside of gst control.

https://m.uk.investing.com/news/general/uk-financial-regulator-fca-facing-crisis-from-staff-exodus-over-pay-issues-2900201?ampMode=1

I hang onto the fact the big investors and the board who are obviously far closer to the business than us recently paid 2p - presumably expecting some multiples of that - for their investment so if you can get in under a penny - like all those 5k buys all should be golden - here’s hoping anyway !

Between 0.30 to 3.0p

They are based in Asia and a very small team who are not native English speakers FFS - I could point out similar “errors” in any number of websites- the point is the functionality, the scale ability , the licenses and approvals - and an existing albeit small active user base.

I dunno - I sold a few more today - now under 10m - I simply cannot see how they can continue for a year since last raise with a million in cash when previous annual spend was circa 5 million and that was before all the development in Saudi sand the big ramp up in staff.

Like the laws of nature there must be a big raise very very soon - probably RAB will convert their say 5m loan plus 20% interest at a 20% discount soon - I’m very sceptical any sign off will be pre June with the amount of ToDos/ as always Dyor. Defoe think he will sell equity stake in SA from 30 to 25 or why else raise it

Outrageous - he still hasn’t faced his shareholders in a Q&A webinar or any other venue - cowardice

Does anyone know if BT gets a bonus for his “transformational” deal with Samsung ? I have a small fortune here - course it used to be a large one FFS - how can he not resign in ignominy

It’s astonishing we are about level for the day while all other financial stocks are decimated- solid holders !!