Member Info for Smellyben

Nov 15th I can’t possibly wait a week to double my money !!!

Personally I think the Zak guy is an idiot he has predicted Kefi exploding at least half a dozen times that never materialised however I would remind people we were at the equivalent of 1.2 a couple of months ago without the umbrella agreement, the imminent finance close and the Saudi assets this could easily go to 4-6p if ther finance closes and there is a dual listing

Couldn’t agree more - of course this is a risk - technologically they may not deliver, there could be a new rival with a category killer offering or whatever so don’t invest if you are risk averse it could go to zero but but but this is likely to be the first blockchain company with approval in the EU and The City - it is ripe for acquisition by one of the big investment banks for pocket change for them but hundreds of millions for investors like us - I’m here for 20p or nothing.

I’ve got 5mil

Yes you should do some research

They had 2.6 m in cash as at end June - in addition they have previously run the company with a negative 6million in current assets by agreeing extended payment terms with creditors - cash will not be a problem until at the earliest Q2 next year - hopefully by that stage the share price will be 3 or 4 p so any dilution will be minimal.

Simms there will be no diggers or whatever for quite some time as Harry has said more than once - the actual physical construction of the site is the last thing on the critical path. My high level understanding is that once the consortium sign they are legally committed albeit with a couple of conditions that must be met by the EG - never been detailed but I imagine around security. They can’t pull out if the EG deliver.

Once the EG do their thing the money comes from the consortium- I imagine in agreed tranches - so that Kefi can do its tasks - none of which involve actual construction of the site but rather placing the final orders on the specialist machinery that is needed to build the site -we are talking very specialist specific equipment from multiple suppliers that needs coordination and there will be a lead time in the suppliers actually building and shipping the equipment. Kefi will also need to move the locals to their new houses , give them their cash etc.

The consortium money goes in first and then the bank money comes in once that is spent - understandably the bank want some equity investment and equity before it puts their money in - a bit like a deposit on a house.

Well you base that assertion on what exactly- I’m a pi and I’m not selling - I’ve no problem with people selling if they want , their money their choice but the Board have delivered every they said they would - let’s see how Q4 goes when a lot of action is expected - if people can’t wait that long then indeed they should not be invested in such a company - this is a 2 to 3 year play - bottom of my drawer only look in occasionally- might not work of course but massive opportunity for 10 to 100 times multibag - you pays your money you takes your chances but I’ll not be swayed by Small swings on daily shares prices when I’m looking for 10-20p at least.

Exactly correct - the Board own about 65% of the company they don’t need to be worried about nervous micro investors/traders worried about daily market price swings - they are focussed on actually achieving their targets - they communicate just fine every couple of months and that’s good enough for me

I keep buying - it is happening, roadblocks melted away - docs being signed - life changing money coming

Kefi has been an explorer and developer for its entire history therefore fund raising is of course standard and fine - if it has no income yet it’s employees would still like to be paid!

While I do blame Harry for not having a plan B when ANS couldn’t complete I don’t blame him for the civil war delays !

While there has been significant dilution you are correct - some of which was poor management most others bad luck - the assets of the company have also grown exponentially with projects potentially worth a billion pounds and with the gold price in sterling at historic highs I’m thinking the shares should at least increase fivefold in the coming weeks and easily more as more licences, DFS and discoveries made in all three projects. Note The assets are proved - not guessed at or implied - I have been adding albeit small amounts since the umbrella was signed and continue to do so - the market is discounted just as your issues which I think is a golden opportunity to buy - in 5 or 10 years 10k invested here at these stupid prices could easily give 200k so I’m happy to be here while the operations on the ground continue apace

The problem is the market simply does not believe Harry - we’ve been done this road many times before - final preparations etc and nothing has come of it - until we have legally binding agreements the price won’t change - even though SA is huge the markets fears a can kick, potentially losing the TK licence and a fund raise at these levels This time I think we will get over the line because we have the umbrella agreement and things appear to be progressing fast and for the first time all our eggs are not in one basket. The good news is once funding is agreed the market will readjust the price rapidly and I can easily see a 5 bag in a few weeks if Kefi follows up Its words with achievements

The latest presentation had 09 22 as the time when definitive agreements with equity partners were signed off - some confused that with 22 September

For me the reason we are so poorly rated and with a derisory market cap compared to the resources and assets is simply the board and Harry in particular have zero credibility in the market. You can debate whether that is unfair or not ( I think it is fair as he has been terribly duplicitous in the past ). That said if he is able to get the funding signed off in 6 weeks that should completely change the perception and the rerate could be huge - 2-3p by end Oct easily - which would be nice.

why sell at 1.24 if you believe in the company - if you don’t believe in the company why did you buy ? There has been nothing but positive news for the last six months as they build for the future and the end of the year could easily see us in the5-10p area

Glendala do have a licence already - this is just a change of control but who knows how long the process takes - they did say shortly in June however so if they don’t deliver this month I’ll get nervous.

Sussh- I’m trying to get more and more - don’t advertise!!

Great link thanks - I think a lot of people still have the Ethiopian famine in the 80s and the starving kids as their picture of Ethiopia- very very different now

Not really at least not directly- the EG wanted evidence that Kefi could deliver actual financing cash when required so the fund raise was to clear liabilities and to provide a pot of cash that along with the warrants if one or other of the other proposed local equity investors couldn’t get the money required (like ANS for people who have been here for a while) then they could step into the breach. That is why the umbrella agreement was so key - the bank finance is core and that is Rock solid - the equity investment is obviously less certain but now that the various parties have signed what they will pay - it is diversified even if the worse happens and one or two can’t actually get the cash the other parties including Kefi can fill the gap.

To be honest the guy is entirely incoherent and betrays basic ignorance of the share he is commenting on - a lot like that idiot stockready. Anyway I have been commenting here for many years - 2018 I think - and have been entirely disappointed by Harry and the BoD who I think have destroyed lots of potential value from the unnecessary and unprepared for delays etc. However things do seem to be heading for a positive conclusion in Ethiopia and Saudi is huge and rapidly progressing- they are fully funded for at least a year and more like 18months at historic cash burn rate so even if there is a slight delay in TK (which hopefully there won’t be as the EG are really on their case correctly) it would be fine. Frankly I think this will be life changing - of course never invest unless you research and can afford to lose but for me I now own circa 2% of Kefi and plan to buy more at the end of the month when some more money will come free