Member Info for Smellyben

too late too late will be the cry when the man from the FCA has passed you by

Its the Harry discount ! Everything and anything he says is not believed - he could say they have discovered the largest gold and platinum mine in the world but the price wouldnt change - no one believes him (even if it were true). Time to vote against the resolutions - tomorrow is the deadline - and hopefully it will provoke action to get rid of the man

and how do they get round the disclosure rules in that case - they cant obviously so you are the naive one - I too believe it is encouraging they took the shares in the sense that positive news is very close - I just think they should have continued to be owed the money (they clearly did not need the cash) rather than convert it into shares at rock bottom discount prices diluting us to hell ahead of news to effectively steal a large chunk of the company from long suffering investors

no problem - just thought I'd missed something as it has never explicitly been stated as far as I'm aware when the application happened but most probably around 5th so the decision should be imminent one way or another (I'm expecting approval of course !)

Hi - where did you get the application date of 29/10 - I thought it was 5/10 ??

Cater - A couple of points if I may

1. You assume Harry is in with the EG - I think the facts suggest the opposite - I think they realise he is a bluffer constantly making promises he never fulfils - I believe if he left it would be a benefit
2. You may be correct in thinking the Board/employees taking another 20% or so of the company for peanuts shows faith in the funding deal but surely if they are STEALING the company YOU and others invested in and have endured huge dilution only for them to come along at the last minute to take it from you - but you are not going to object ?
3. If financing is "just around the corner" then rejecting the extra hundreds of millions of shares and warrants will not hold up TK and if we need more money in 2 or 3 weeks we can raise at 2-3p rather than at 0.8p
4. Finally - Harry will always drag down the market cap -he is not trusted NOR does he have any shame - what is to stop him doing this again and again and again as he has done in the past - we need to make a stand I believe

Only 2 days to go for decision IF we applied on 5th Oct ......

why would you not vote ? Its a simple email/message to your broker - bearing in mind the Board/RAB will vote for their own self interest you have a last chance to stand up and be counted and vote for yours and other PIs

Re the effect of voting down the placing - in my view it would force Harry to resign or be removed by RAB/Board. That alone would boost the share price substantially to towards a more realistic valuation of the undoubted assets because after literally dozens of missed deadlines Adams has zero credibility in the market and nobody trusts a word her says. Clearly a new CEO with a good history would be welcomed by the market - another share of mine GST got a new respected CEO and the share price doubled recently - expect the same when Calamity Adams is deposed!!

I understand your points but

1. The Mining Minister hates the bloke (join the queue) - and the company is far far more than one person - if he was sacked and a credible replacement put in place I suspect the share price would go up at least 50% (The Harry credibility discount)

2. RE a fire sale - the creditors are biggest shareholders (ie RAB and the directors) if they demanded payment THEY would have most to lose

In my opinion if enough people vote against Harry will be ousted by the real power brokers - RAB and then Saudi might have a future - Adams has lied and lied and lied has zero credibility with the market and I believe with the Ethiopians (why else would they be pulling the licence) - if you vote for or abstain from the vote you are supporting him - absolutely your right but I personally know of over 100m shares voting against but we need at least 250m to offset the Board and RAB

thanks for the explanation - makes sense - even if i still think it stinks

Actually I found it - 18.8% is with RAB and the Board - still leaves over 80% with PIs...

Registered holdings per TR-1 disclosures were:

RAB Capital and related parties 12.2%
Persons discharging managerial responsibilities shareholding:

Directors, other employees and Persons Discharging Managerial Responsibility (PDMRs) 6.6%

could you send a link where that information is ?

Also as a separate point - isnt anyone ****ed off that Adams told Tom W about the fundraise ahead of time - on what basis is giving market sensitive info to some shareholders while keeping the rest of us in the dark - surely that is illegal

On the other board some people are going to vote against eg Belfast Boyo - I'd recommend everyone does likewise - Adams depends on lethargy of PIs - time to stand up and be counted and vote NO to further dilution

You really should stop spreading misinformation - that is a lie - NOTHING has been written off - below is from the last set of accounts - It is people like you spouting "knowledge" and info that has dragged innocents (maybe yourself) into this chaos - shame on you - if you dont know stay silent

Intangible Assets
Cost of licenses to mines are capitalised as intangible assets which relate to projects that are at the pre-development stage. No amortisation charge is recognised in respect of these intangible assets. Once the Group starts production these intangible assets relating to license to mine will be depreciated over life of mine

Simms mate -I'm afraid you are completely misleading people - as you have before - probably though lack of knowledge rather than any deliberate ploys but the fact that Kefi does not need to put in any more cash doesnt mean that IF others invest in the project that as you say Kefis Balance sheet will swell by £60m - that is complete nonsense - I certainly hope you understand that. Kefis investment is already on the Balance sheet in intangibles and investments

Yeah that makes no sense - nothing gets added to the Kefi balance sheet on TK funding - it is at project level - suspect Simms isnt an accountant!

As well as the humility from the Board - which I of course agree should happen - how utterly despicable is it to say they are "pleased" in the RNS as if they have achieved anything other than yet again kicking investors in the balls as they go once again to the bank with their inflated and undeserved salaries.

Also Simms how about some humility from you, bridgedog and several others who repeated and unrealistically ramped this company and lambasted anyone you pointed out their repeated failures as derampers with an agenda.

Did TW say whether or not he was going to support placing ?

Problem is he has no shame and the Board are a bunch of lackies - only way to get him out is to vote against this proposal - last time only about 7 or 8 % of shareholders did - thats why he keeps getting away with it - its not illegal just immoral

Electric - Keep your shares, vote against and lets get rid of Adams - with him in charge Kefi will never make any money - he has earned millions for NOT doing his job while we who pay him have been shafted time and time again - the Board should act and dispose him and his CFO - at the moment there are enough shares in non company hands to do it - after the placing there is no chance