Member Info for Smellyben

Time and again he does it - pump and dump and wipe out PIs - another set of people who didn't heed the warnings trusting Harry - we've all been there but this is the worst of the lot - selling saudi and putting in an extra 2billion shares while he pays himself and his cronies millions of pounds for failure - seriously I would form a group and lawyer up it is just incompetence or fraud and I know which one I think it is

Thanks Colin

Agree no discussion but could someone post link to latest production numbers please

Richardson joining should have been the warning for PIs to exit immediately - he'll be ok but shareholders will end up with nothing - word of advice record every statement they make and get ready for legal action

What money ? The $10m dollars for 10% just pays the Artar debt - if they get it 15m dollars for the last 15per cent that just pays the other liabilities of 7 or 80and gives harry 6 months to a year of jam tomorrow

Err then why did he sell 10% for 7m quid - what top negotiating !but someone else will else will pay 5-10 times that price - sure dream on

My use of the word plebs was clearly as far as harry is concerned NOT my personal opinion. I hold no shares and haven't for years but my knowledge of the history of this company is great and while dozens of posters post nonsense I merely post facts.

If you think Artar didn't force Kefi to sell to them then Im afraid you are naive - if you believe kefi are gonna get materially more than 15m dollars for the remainder then you are naive.

I am not crowing or celebrating I'm merely warning potentially new shareholders not to be swallowed by the hype and delusions of many on this board - read the interim results especially the debt .

Would happen when Artar wanted to despite being told by Robj and others "why would they do that" and other nonsense arguments let me state a few other facts as the same rose tinted nonsense continues to be spouted on this board.

1. "Kefi is now cash rich" - complete and utter nonsense. At June 24 Kefi owed Artar £5.1m with spending circa £3m a year. At this point in time therefore Kefi owe Artar around £6.5m - the $10m they receive for 10% share only wipes this off - there will be no cash paid over which means .....

2. Also at June 24 Kefi had liabilities of £7m for creditors and loans (at a 20% interest rate!) - therefore at this point in time even after the sale of Saudi they will owe circa £9-10m. THis needs to be paid at soon - whether that is a raise of an quick sale of the other 15% of Saudi for £11-12m - more pain lies in front for shareholders

3. Some keep saying that finance is about to be closed for TK but the reality is that Kefi has had to ask for an increased loan -that meant the approval from the first bank where they once had approval has been cancelled and the approval from the second is still outstanding - the risk for the banks now is greatly increased because of lower equity involvement and higher loans value so far more uncertainty there and of course another 3 - 6 month delay (what a surprise!) - I suspect it never will happen for Kefi but Harry continues to take his £300k a year until sometime in the next 18 -24months he quits after destroying the shareholders of the company George Roach style - sad for shareholders but many have warned you about Harrys impressive record of failure so you were warned.

SAdly some continue to spout dreams as facts and dont look at the hard numbers published in audited financial reports rather than speculative guesses from HArry to keep the plebs on board

Great note Condor - don't forget they are now also signalling they will be selling saudi to cover the huge debt they have built up - mad that some people are still ramping fail after fail after fail - good news though is Harry is still taking his huge salary so someone is winning

It's in their latest financials on this website and others - just Google it !

Simms - have you not read the interim results - freely available - showed 10m in net current liabilities IE all the 5m is gone at end of June - so more like 15m liability now

That's so unfair tml - he has also built up 15m in debt and managed to sell off 40% of all the Saudi assets allowing artar to take them whenever they like legally and he has managed to double annual losses from 6m to 12m per year - please don't play down his massive achievements.

The loan is convertible at a discount which means aleph can easily forward sell the shares further driving the shares price down and then convert at a discount taking over the whole company. Avoid

I'm sorry but you guyes are delusional $60m to buy Saudi share - on what planet. They ar eclearly asking the second bank for more money because there isnt the actual uptake in equity as HAA has led everyon eto believe - ANS all over again - they say thay want to invest but hav eempty pockets. Meanwhile £1m cash spent every month, £15m in debt, Artar can take Saudi for peanuts any time they like - if Gold were not at all time record highs Kefi would already be bust (and HAA had bugger all to do with that!!)

How can a company lose 98% of its value in a year without some serious wrongdoing by the board - 12m in admid costs in 6 months are u kidding me - get sueing

Its probably because the equity investors just are not there to finance so they need someone else to step in - 15m in debt, no ability to pay credotors and "partner" able to take half the assets for a few million , project pushed back for then100th time - disaster waiting to happen

i dont really understand the jason hating - the bloke works as the ceo for a pittance and yeah he might be a bit optimistic with some timing estimates most often outside his control or events change so timings change. anyways doesnt really matter he is delivering the projects , we have billions in the ground, cashflow coming in and major *****on cash about to drop - get ready for a share price in the three digits

Accounts out on Monday!

Chariot down over 40% today - hope no one took your advice from yesterday 34 !!!

His standard fee is circa 50k per month or an annual salary of about 40% of the market cap - the guy is a terminal disease for a company