Member Info for Smellyben

You think Harry has done things in the right way ??!!!!!???!!!!

You don’t mind endless dilutions I suppose - let’s hope he does do it again - most here are far too optimistic/naive

Totally if we didn’t have to deal with new completely new posters as we approach each deadline (like yourself) ramping saying it’s all agreed 10p on Monday - without any context or regard for history showing their knowledge- as I say I believe this could double or more on financing news but if it’s delayed again the share price will fall - not rocket science but nuance that seems devoid from the rampers

That is just nonsense - firstly I just spent £8K showing you I'm honest but nevermind that - are you seriously saying whatever I say - positive or negative - has any effect on the share price - IF funding is secured this could easily double or more depending on the the terms - if not it could halve - it does not matter what I say except it might just help individuals assess the risk/reward as I have done and am comfortable with - more honest than just blatant ramping as if everything is done and dusted. Anyway I'm starting my weekend and am off so hopefully there is a good RNS Monday though I doubt it

I'm NOT negative just HONEST - I've ust bought another 377,987 shares

Given your two weeks of experience I'm sure people are interested in your mindless ramping though right

Please check my posting history - it is well known for anyone whos been here for more than 5 minutes that I sold my 22m shares (yes 22m!) around 4 or 5 months at 1.75 and warned everyone of an upcoming placing. I used my money to invest in various FTSE companies including Lloyds, Micrfocus etc and a few punts like NAno and made 80%ish and so when the placing did happen as I had warned I got in at a much smaller level 10m at 1.60 - basically using my "winnings". I have a track record on this share going back 4 years unlike some posters today who joined last month and have no idea of the long horrible journey. I am not trahing this investment but I am warning newbies that they could lose their shirt if funding does not happen - it fee to 0.6p a few months ago - no reason it cant go back if there are further delays and NOTHING i post here will make any sort of difference to the share price - only the funding will - I'm in and am staying but am happy to call out Board abuse and dishonesty where I see it

Clearly you have just started following Kefi !! HE always waits to the last minute before issuing an RNS kicking the funding down the road - just a month , a quarter it's always ust around the corner - he's done it since October 2018 !! Hope this time is different but you are naive if you dont think there is a big possibility history wont repeat itself

Hopefully yes but from an old hand at this remember Harry has missed deadlines for fun over the last 2 years - at least 12 deadlines missed - the fact he mentioned April in the last communications means I suspect there will be another "going well but still a tiny bit more to do" RNS at end of March rather than legal agreements signed/money in bank

I here what you are saying but I'm sure you are aware that virtually all commodities companies do not have such a simple/simplistic structure - all the oil companies for example the share price are intrinsically linked to the oil price which goes up and down and which management have no control over - it is crazy to reward mgt ust because the underlying asset increases so they have balanced scorecards which avoid someof the issues you highlight (which are real of course). My problem with this options award is say financing is done on really bad terms (a regular occurrence for LTIs!!) but is done so the mine is completed two years late with large cost overruns and so a company that "should " been valued at say 10 or 15p is valued at say 3 or 4p - the management are still getting massive rewards for shareholder value destruction with no risk to themselves - remember we werent invited to join the recent dilutions at 1.6p and 0.6p while HArry and his mates got cheap shares - he's ust done it again and I fear as he and his friends get greater control he is free to complete shafting us until there is nothing left- all the while we are paying them for delay after delay - I do absolutely think Harry has made a complete pigs ear out of funding and cost PIs tens of millions of pounds. I'm frustrated because this is a very risky proeject which I accept I could lose all my money but I bought in as the rewards could be big - keep taking away th eupside and we might as well invest in defensive stock

A better analogy would be its a bit like a bookmaker accepting your bet but demanding they get a share of any winnings but will not share the loss. HAA and Leach have don ethis for YEARS that is why there are now 2 billion shares in issue not the 400m when I first invested (and many will have invested before this) - it just shows their greed, their lack of empathy / appreciation of PIs who stood by them, funded their lifestyle and now they propose taking a large chunk of gains - FOR NO ACHIEVEMENT ! - If they said the options would apply once the TK mine was producing X tonnes per year, or SA was operational or ANYTHING then I could accept it - all they are saying is that they will get these shares JUST FOR BEING THERE- if the upside here is 5 times as some here believe they have just awarded themselves around (10p-2.55p)*135million = £10million 0r a quarter of the current market cap - with no conditions - outrageous!!!

The problem with your view is that the value of this company will go up and down based on the price of gold and copper which has nothing whatsoever to do with Their performance just macro factors- I don’t mind options and bonuses for achievements but they have delivered nothing but delay and dilution for years and they still give themselves hundreds of millions of shares for no achievement- he gets 30k a month FFS as well as the millions of shares she got at rock bottom prices through his previous placing - the upside just got nearly 6% less guys

Mate I have over 10m shares - I bought because I am hopeful of making some money - it’s a risk reward- what I detest is that the board have just given themselves RISK FREE options With NO operational criteria- just stay - mess up as much as you want but you can get 135m shares - most respectable options for boards are in the basis of them actually achieving something not just occupying a seat for their fat arse - yet more dilution and less reward for ordinary PIs

Jeez- the guy gifts hundreds of millions of shares to himself and his mates and you guys are supporting it ! Mental- I’d like to know exactly how they justify this and what performance conditions are attached

Don’t think you can/should day trade this as the spread is too big. The volumes are tiny in any case out of 2 billion shares. My worry is that Harry just a couple of weeks ago said March was almost definite and in the latest presentation said the government is getting ready to ratify in April - just a small slip I know but then aren’t they all - a month, a quarter, but we have been waiting 2 years and still no cash. If it slips further then there are elections and potentially violence, new government and then new dilution etc etc - just get it done Harry enough empty promises or please pack your bags

Exactly- lenders not investors - like any lender they will have the collateral of the mine, equipment etc in case of non repayment while the investors will potentially lose all their money with no recourse to assets but of course they get most of the reward of a successful outcome- I just think it’s important not to mislead potential PIs that we have named and signed off investors when we don’t - but hopefully we will soon !

These are NOT investors - it is the bank finance which will come on board once the equity investors have ponied up - they were announced about a year ago and hasnt changed - the offtake finance and the FTSE company are still unknown and unannounced and THAT is what we are waiting on.

Is our illustrious chairman going round giving these type of presentations - they look to me as if they are trying to drum up investment which begs the question why as I thought that was all sorted. Makes me worry someone has pulled out - if not what is the point ??

It's not just Tigray though - there have been ongoing and serious issues with Egypt as well as civil unrest in Oromia where TK is including hundreds of deaths - new investors need to know that these could kick off and be warned - I personally think it will be OK but elections will probably kick up tensions and if the current government falls that could also throw grit in th e wheel

Held up well considering the gold carnage today !

No doubt you are both right - IF/ when the funding arrives then naturally there will be delays - name me one major infrastructure project that has ever went on time on budget - BUT at least it is likely to happen at some point - without financing we don’t even have that !!!