Member Info for Smellyben

I’m sorry where have you gotten information on Harry’s movements? ( Apologies for posting - In a pub pre lockdown and just browsing and am calling out BS where I see it)

Mental, delusional , Words fail me - 50p !!!!!!!!!! A 1-2 billion pound company - Mental.

Just more - I’ll not say lies merely uninformed numbers - Kefi has not spent 50 million - the previous owners (and latterly Kefi may have) but most of that money has been wasted on plans after plans, contractors after contractors , legal and finance people , it hasn’t gone into anything that can be sold or utilised just wasted as plans have changed dozens of times and no doubt will change again when funding delayed until “Q4” aka Never.

The financing being talked about only relates to TK and TK alone. All corporate and S.A. development costs need to be covered by the parent company so yes a fund raise is still needed though as you say IF TK financing is achieved it is likely that it would be done at a higher price so less dilution- course if TK financing isn’t achieved or is delayed the share price will crater and a fund raise would further demolish it - very risky given the history.

Bought a few myself to average down - fingers crossed for decent results

No worries - I blame Trump for most things too - I'm outta here until the next RNS (unless someone attacks me or makes a blatant lie to ramp up the share price)

Harry said no such thing unless I completely missed it - he makes a point of not talking about share prices as he has been burned so often himself.

And if someone lies to you and lies to you and lies to you and is unable to do what they say they will do time after time and then makes another promise - surely it is not living in the past to point that out to newbies who declare confidently that this time it will be different

You are all right about the fact we will know within a couple of weeks if its a further delay because of blah blah blah - no doubt some here will try to spin that as a positive !!!!!!

"Harry has done a fantastic job" !!!!!

He has DESTROYED 95% of the value of this stock - just ask a shareholder who has been here for more than a couple of months !!!

PV has any of your made up price targets EVER been met - I remember it was 3-4p after the PEA !!!!

You do realise there is no reason if it was all sorted to wait to the last day of October - also they said that the off take financing would be done BEFORE finance close so essentially 2 separate finance projects in October - each day that passes just increases the chances it wont be done I'm afraid .

I dont know why anyone talks about Spreadex as if they are a shareholder or a shortseller - they are merely a reflection of some punters taking leveraged positions either way - a reductionans there are fewer bets being placed

To answer your questions

1. Because the company has run out of money - he has diluted himself multiple times in the past as you know for the same reason
2. Maybe because funding isnt coming

3. Agreed re all planned spending though big projects through out the world do have a tendency to expand in cost - who would pick that cost up - well PIs are a good source of cash.

4 Funding is required for all the corporate costs or circa 4-5m per year and as you say to pay for Kefis share of SA development - unless they want to give up their share as they did a few months ago

Where did you get the notion the locals are being resettled now - that is incorrect and dare I say you ramping again trying to lure some investors who dont have time to check all your points - the locals like everyone in the supply chain are waiting for the financial close and for their new homes and infrastructure to be built and for them to receive their funds which come from any financial settlement. Any delays, as well as the dilution, has serious repercussions in terms of supply chain - ordering the millions of dollars of equipment, moving locals at the right time in the agricultural period etc and even a short say 3 or 4 week delay could potentially lead to a 6 month delay in total

Firstly I'd like to say that I'm sure everyone here hopes that Ethiopia does manage to pull this off - anyone who remembers the mid 80s cant help but be really impressed and relieved by how the country has developed and thank god for that. I think they WILL build this mine in the relatively near future but the question is whether it will benefit PIs in Kefi.

Simms - I have seen at least 8-10 webinars where Harry has guaranteed financing, smiling and positive - we are still waiting.

If financing was as straight forward as you seem to suggest then why oh why oh why have we waited 3 + years and diluted to 5 times the number of shares (plus a little extra today!).

I agree though there will be some price action in the next couple of weeks - if financing IS sorted without dilution or some other poison pill then price could easily add 50-100% - my belief, based on many years of history and reading between the lines taking account of the lack of news, the (poor) quality of management and difficulty in raising finance that is 5 times your market cap I expect either further delay and a big fundraise diluting by about 50% OR a hugely usurious financing deal that will effectively dilute PIs to the advantage of other stakeholders like RAB, the banks and management. Not long to wait either way.

Really good stats many thanks - very bullish surely - I'd take a 10 to 1 on chance anyday - everyone just needs to be patient - Samsung will surely settle at some point in the next 2 years - its chump change for them but life changing money for us and a 5-10 bagger if you got in around anything like this level

Its odds on mate - seen it all before

Or further delay and fundraise............

Older - That was sarcasm I’m afraid.

Agree its useful to let new investors have a full view of a company. In addition to all the positive (some would say ramping) posts - you need to know that Kefi has been trying to get funding for this mine for at least 6 years. It had picked up around 2-3 years ago when it looked like they had a local syndicate of significant investors to invest but after messing around for 2 years they couldnt (or wouldnt) come up with the initial $9million (after around a dozen RNSs saying it was agreed, imminent etc). In that time Kefi diluted at least 3 times and have the ability to raise finance by issuing shares at 0.01p - there are 1.9billion shares in issue.

We are now in a situation where Kefi is trying to secure 2 tranches of significant finance of around $200m in the next 3 weeks and they say again they are confident of getting it sorted this month - there has been no verification of this and they are in debt to the tune of around $4-5m with no revenues for 2 years in the best case scenario so a new raise is a certainty. This is in a period of Covid, political unrest in the country with several separatist movements (including in the region where the mine is) , a recent coup attempt, a major disagreement with Egypt over a dam and a liquidity crisis but like PV I think this management team will easily secure finance worth 5 times their market cap as they are in such a strong negotiating position.

? fraid not - I never said that so please dont lie - I said the price of gold was going down and I was proved right though

Almost certainly - they bought a million shares with a company with nearly 2 billion shares in issue - major major move - definitely a huge hedge fund buying a position LMAO !!!

Do your research - company has issued a dozen RNS saying funding secured or imminent - it has never arrived and they have run out of cash - huge dilutive placing days away IMHO - no one is gonna lend a micro cap with no collateral , £200M + in a Covid world with political unrest - sorry guys

so even the report THEY PAID FOR only values it at just under double the current price - gone are they days when you were saying 10 times, 20 times - you are left with a HOPE if all goes well you might double your money - or of course you can and probably will be diluted again and again - sad

where did you get that info ?

Overman,goldboy, Mercedes man as well as perma tamper PV to name a few

Why- Well because I was involved with Kefi for years at one point owned about 2per cent and know intimately the history and have met virtually all the Board including Harry and leach and they both lied to my face - I’m afraid I don’t have that type of knowledge about any other stock

I have no problem with opinions it is when people state for definite that something is gonna happen I disagree because it is very much in the balance - people mindlessly predicting imminent multi age unless you get in now have lost some naive investors about a third of their investment so far.