Member Info for Smellyben

Well lets hope so but this isnt the first time we have had a clear timeline - back in 2019 and then again in earky 2020 (long before any state of emergency) we were days away from signing according to Harry - is was unstoppable etc etc - still failed - Alas I am in here again - luckily at an average of around a penny this time so my downside is manageable but many people have been suckered in by Harrys promises before and I just warn against this as I see a few new posters - I have always been positive about the assets and the exploration and development team and though the PIs share of any upside is hugely diminished by the delays and subsequent dilution I can still see a 4 or 5 times uplift if it goes to the latest plan - but dont say you werent warned if harry delays again by another quarter (but this time we could lose the licence altogether if he does). Lions led by Donkeys

I have lost count of the number of times Zak has said this will go to 2.5p etc etc - he is constantly wrong at least with Kefi if you dont believe me just check all his previous analysis of Kefi - the problem remains the same - Harry and his failure to deliver time after time after time - no one believes him THAT is why the share price doesnt move - he has zero credibility - I appreciate new posters like PP look at the underlying assets and think its great - I did too 4 years ago when we had 400m shares not 3 billion and the facts on the ground have not moved substantially - yes we have a bit more resource in Saudi but we also have a far lower % of that asset - meanwhile HAA and the Board have stuffed their wallets with ten sof millions of shares at PIs cost - reminds me of the Peanuts cartoon with Harry as Lucy promising not to pull the ball away again and us falling for it time after time

One word - Harry

Have a look here.

https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx

The main reason it affects the share price is that these are clever people who believe the price will go down (or are covering a long position). Many others take the opposite view - you pays your money you takes your chances

To my mind the whole country is in for a long period of cost of living crisis and everyone will be looking to downgrade their spending where they can so people who could afford to send a 3 to 5 pounds Moonpig card will now use card factory as the affordable option - I can see this over a pound in a year or so.

SP is at historically low levels because of the constant jam tomorrow HArry updates that only ever seem to promise progress but it never arrives - buyer beware - would love for it to happen but I've been here for years and every 6 months or a new investor pops up - spouts "knowledge" without understanding we have been here before many many times , fundamentals have not changed in all that time yet the number of shares have gone from around 300m to 3b and still no progress

Simply - Harry has promised well over a dozen times before funding was imminent- it never came - this time there is the real risk if he doesn’t pull it off with 90 days we lose the licence- we are all paying the price for Harry’s incompetence- talk of 12p NPV is nonsense - we’ll be lucky to get 2p - I’m in between 1p and 1.2 so that will do for me but it’s a big risk and you could lose it all - the sha price has fallen well over 95% when similarly bullish original investors put their money in and Harry took it all - buyer beware and don’t believe a word Harry or the rampers say many have been burned before but if you fancy a flutter like myself no harm in sticking a few grand in

Thanks for this - really really helpful and appreciated

I got out of Google too soon, Bitcoin way too soon - not gonna make that mistake here - shares in the bottom drawer - come back in 3 or 4 years and retire :)

It is good news for once - worst fears allayed - for now - it will take months though

I dunno guys - I'm not saying the mine wont be built - I've always said it will simply because Ethiopia needs it - but I was always fearful that the interminable delays because of HAA would mean the EG would lose patience and Kefi shareholders
would not benefit (course the BoD do but thats a whole other story)- I hope I'm wrong and this emergency meeting is good news but feels to me when a Premiership manager gets called into the Chairmans office and there is another manager (a Chinese one in this case) ready to take over. - we know the Chinese do not mess around and could have the mine up and running in under 2 years - yes there could be a payment to Kefi for its plans, designs, local staff, drilling IP etc and that could be £5-10m I imagine (which is still a good chunk of the share price to be attractive) and I think Adams will be under pressure for that to happen in a take it or leave it offer.

We'll see next week in any case maybe there will be one last chance to March or something but smells very bad to me to call it at such short notice.

i'd be amazed if they do not take away the licence at this meeting - at least then adams might be forced out and the company could have a future - they dont have one with him in charge

So the coal price increase just added 20% to our value on its own but share price falls - oh well more bargain shares for me ??

A director does have to disclose all dealings - if anyone else goes over or under 3% they also need to disclose and if over 3% they need to disclose any changes +-1%

It’s a good opportunity for us all to exchange numbers set up a WhatsApp group , act as one , co ordinate votes and meet directors to make them aware ( if they are not already ) about our reservations about our great leader

Just for info on the FCA process - can be up to 80 working days

What to expect from the regulator

The FCA (and, if applicable, PRA) will have 60 working days to assess a change in control case, which will run from the date the regulator(s) acknowledge receipt of a complete notice (and including all supporting documents).

The regulator can interrupt the assessment period once only, and before the 50th working day of the assessment period, to request further information. This will have the effect of pausing the assessment period for a period up to a maximum of 20 working days.

Once the regulator has made a decision it will provide either:

unconditional approval of the proposed acquisition;
approval of the acquisition subject to conditions; or
rejection of the proposed acquisition.
If the acquisition (or disposal) is approved then the transaction can complete within the approval period specified by the regulator. The buyer should then notify the regulator once the acquisition is complete. If the acquisition is rejected then the only recourse that the buyer has is to refer the decision to the UK government’s Upper Tribunal.

Agree that the number of people who post on these boards are not necessarily representative but what confuses me is that virtually NO ONE voted for the resolutions (except Board/RAB) - vast majority just showed no interest at all in their investment that they took the trouble to buy but evidently don’t care about

Interesting stats - the only people who voted for were the Board/RAB ie the insiders who directly benefit from this larceny. Every PI either voted against or abstained. I’m a bit confused by the low votes against - only 100m shares or so - that can’t be true if all the people who said they were going to vote against actually did (or perhaps they xaggerated the shares they had !!) In any case it’s the indifference of the vast shareholder base of 80% who didn’t vote that is Harry’s “power” - who are these people I wonder - never expect near 100% participation but had hoped for 50 or 60% in which case Harry would be out on his arse.

I wonder if the rebels got close - be good to see as if it’s significantly more that 5% I can see an EGM coming ……

Today is the deadline to vote against the resolutions to gift YOUR company to various insiders - vote NO to get Harry out