Member Info for Smellyben

1plus1 - what do you think the current cash position is if my estimate is way out ?

I've explained my rational before from published figures - 12m debt at 30 June last year less 10m fundraise plus 9months of cash burn of circa 1m a month = circa 10m in debt - what is your calculation?

Agree - with the potential sale of Saudi now delayed and months away from cash being received I think a fundraising of some sort is now inevitable as they are circa 10m in debt currently - could be a high interest loan or a placing - the latter I expect as it allows Harry and Leach to get more shares for continuing failure

You guys are so gullible - 10% of the project in SA is 10% of the project in SA. 15% is 15% - please explain how I can buy 10% of your house for 10k but would happily pay 150k for 15% . Each week Kefi has to pay the hundreds of people on its payroll with debts around 10m - it is desperate for cash - I'll be impressed if they can get 15m dollars out of Artar but given circumstances I doubt it

Hahaha - made me chuckle - 10% =7m but 15% =100m - wake up - your every prediction has been wrong and mine correct (albeit have been off by 4-6 weeks in the past though once only by a day)

The last 10% sold for about 7m quid a few months ago(FACT check the RNS ) but sure you'll get 100m for the remaining 15% - 11 or 12 gross is more likely less amounts owed to artar of about 7m net - see below

Initial conclusions include that KEFI forego its right to contribute US$10 million and maintain its 25% GMCO shareholding and, instead, accept dilution to 15% of GMCO. That is now being implemented formally.

I'm sorry if that's upsetting but check the facts not the mad dreams of gullible new shareholders - Harry has destroyed this company and has lost 99% of its value for shareholders while pulling down 300k a year as CEO and Chairman

Can't read accounts? ok so enlighten me what does this mean from June 24

Current liabilities

Trade and other payables

9,029

Loans and borrowings

2,976

12,005

And yes they subsequently raised around 10m but that was 9 months ago and they burn approx 1m a month

AquaeSulis

I'm afraid they are playing fast and loose with terminology - while the net debt at end of June 24 was over 2m im afraid they left out the 9m current liabilities - so yes fundraise is inevitable unless they get sizeable cash for the 15percent of Saudi

For anyone not familiar with the accounts - READ them - you will see who is correct. For example kefi didn't owe artar 10m they owed 5 back in June - 7m was various others not names but presumably suppliers, staff members, consultants, lawyers etc. Those debts - as I have acknowledged several times - were substantially but not completely paid off BUT kefi have been operating for 9months since then - not just in Saudi but Ethiopia and the holdings company - do you think Harry and the board and the staff and the development team have been working for free these last 9 months - I might be off by a million or two either side but it is clear kefi as we stand owes circa 10m and so all rests on what they can get for the last 15% of Saudi - I'm assuming circa 10m pounds net be interesting to see what it turns out to be

1plus1 I have taken the fundraising into account. 12m liabilities plus 9m loss for the last 9 months less the 10m fundraise equals - 11m debt as of now - what are you not getting?

12m in liabilities, 6m loss in 6months less the 10 m raise

Errr - read the latest set of accounts from June 24

Yes I know the 10m placing was to pay off some of the liabilities - I said it in the post - the fact remains that there is currently around 10m pounds of liabilities - they spend a million a month FFS

Liabilities at end June last year were 12m and losing 1 m per month with under 1m in cash. So extrapolated that would be 21m liabilities as of today however they raised 10m in December so say around 10m net liabilities so yes if they don't get serious cash for the Saudi assets then another significant fundraise will happen. I think they will get around 10m pounds for Saudi share but could be a bit more or less but they need to finalise soon

Or maybe the three transactions artar completed on the previous 25% sale -;which were valued at cost - would be a the most realistic valuation I mean if I sold apples for 10p 2 years ago, and again for the same price a year ago and again the same price a few months ago - I certainly wouldn't expect someone to pay a pound so simply do not understand why artar will pay more than 15m dollars less then amounts currently owed so maybe 8m quid

Why no TR1s from the new shareholders - clearly not major investors ?

Rob is Kefi get more than 15m dollars I'll be surprised and you are right if they get 50m or whatever the latest ramper target is then there will be a bump in the share price. No body has ever explained though why anyone other than artar would buy and if it's artar they basically have Kefi by the short and curlies - Kefi still owe them low millions and they have already bought 25% at cost so why would they pay more when they have Kefi over a barrel

Crazy - you do realize everyone can see your posts and how accurate your predictions are - from 2 months ago - fact is Kefi still have millions of net liabilities and are losing 1million a month on operating costs so assuming they are able to manage to get net 10mill from artar they can survive another say 6 months but after that it really is the end. If they get less the end will be sooner

Crazytowner Premium Member

Posted in: KEFI

Posts: 1,067

Price: 0.682

Strong Buy

Bring On Next Week29 Nov 2024 21:16

Seriously happy with how Kefi is now poised for an imminentassive rerate in the next week or two

See you all Monday

I'm more concerned that the board appears to prioritise certain shareholders over others.

Fact is the Goldman Sachs CEO has presided over 97% shareholder destruction - accidentally or deliberate or planned for his VC colleagues - I know what I believe

I just do not understand how any CEO with honour can take a company s fortunes down so far down that its value is around a two bed flat in a nice part of London and still take his salary - it is clear to me that this effective theft of a company from its shareholders by hedge funds / financial institutions that blocked the sale at 13 times the current share price - Goldman Sachs strikes again - discusting - Nomad ???? they said a sale was imminent 15 months ago - wild west theft

Sorry only just saw this - doesn't surprise me as the signs were glaring for months but still despicable from the board to shaft ordinary decent shareholders for their hedge fund mates - FCA are toothless and incompetent

Well apparently he has close to a million quid in kefi if you believe his pronouncements - more like half a million now though