Member Info for Smellyben

Last time they had payables at these levels they did a fundraise at 0.65 though to be fair the prevailing price was around 1.3. If you and I can work that out do you not think the finance guys can’t

So using your own words you acknowledge that Kefi will have around 3.5m creditors to pay plus the 1.5m loan facility and you aren’t worried about about a fundraise At these levels - crazy ! PS I am not short on this (I am on Tesla and have been on Nikola until last week). I’m just here as a counterpoint to insane ramping by some here.

Hi mercedesman

I believe you owe me £100 from our little bet on Kefi - are you gonna pay up ?

Pay up boys !!!! Was called delusional, an idiot , a know nothing and yet here we are - I’ll send the people who took my bet my bank details - if they don’t pay up I’ll let the board know. Now what to spend the money on .......

I said in my note yesterday 2.1m in cash and with the 1.5 loan they could pay the creditors they had 3 months ago - in the following 3 months with the various exploration and dev costs for TK and SA they would have built up similar or more creditors - hence me saying they must have no funds now and a placing is imminent- simple maths unless you believe the contractors/ labs/ electric don’t have to be paid !!! Days away unless they close the funding - and gold was just $9 away from my get rich price !! (Maybe overnight)

I’m gone for the day - will look back on Friday for any news

The numbers you are talking about were as at 30 June. They had 3.6m in creditors to pay at that date - what makes you think the loan has not been used already ?

No one doubts there is gold there, no one doubts it is in the governments interest to ensure it gets out and I have no doubt there will be a mine there in say 5 years producing gold no matter what as it will be there biggest export and provide hard currency.

However, that s a world away from small investors benefiting - I invested in the Channel tunnel many many moons ago and got diluted to zero back but it was built. Vulture finance people have taken advantage of Kefi before at least 3 times - providing short term cash and selling shares - guaranteed returns with no risk - and I see no reason why they will not pounce again as the delay has been excruciating and Kefi has precisely no fall back plan - the only thing they could do would be to sell SA to raise cash but that was the reason many invested here in the first place. I encourage anyone thinking of investing to look at the share price over 5 years - from 30p to 2p - testament to value destruction. As I have said before it could happen but then Arsenal could beat Liverpool this weekend and everyone who predicted it would be a genius - still not a good investment in my opinion! - LTH have been decimated by the last fundraising - another one will completely wipe out everyone.

be careful what you wish for it may not be the news you want !

I do wish people would stop talking about spreadex as if they are taking an active interest - they are merely taking a position reflecting the leveraged bets of punters - all it shows if they take a position is that punters are taking positions.

IN terms of the Ethiopian Government $20m - I cant see anywhere that it is additional to the longstanding $20m they committed to (and to be fair have/are delivering re infrastructure) which is more than I can say for many parts of the puzzle !!

Just wish gold would pop to 1850 so I can collect my bet - $19 off at one point today !!

I must say I burst out laughing when I read your last sentence re funding operations is not an issue - such a statement - it has been the ONLY issue for the last 2 years and still no money but 1.5 billion more shares to split the company between should they eventually get there which obviously is NOT guaranteed and the RNS was actually quite downbeat when compared to previous ones !

Also the TW target of 4.5 is now so so so much less than people who were talking about ten baggers a few months ago -

A few things - I said new to Kefi not new to shares !

Well the last “small” placing to raise 3.7m (or 3.5 net of expenses) increased shares in issue by 50% - yes 50% - that was 4 months ago so hardly a “history “ lesson. Your confidence that they will be able to raise more money without huge dilution with no TK funding agreed flys in the face of history. The “fact “ that shareholders will have more of the pie post ANS wasn’t some master plan from financial geniuses it was because they couldn’t even raise the 9m from supposed big insurance companies and bank in Ethiopia itself. Finally I am not saying Harry’s objective to is dilute and dilute again simply that he hasn’t been able to get this over the line for the last what 6 or 7 years but still he and the board continue to draw huge salaries paid for by you.

The last 3 or 4 fundraising have been done at steep discounts and the number of shares have risen from around 400m to 2 billion in about 18 months - they have been trying to finalise TK for about 3 years and the latest RNS was lukewarm about prospects compared with previous definite statements of funding That never materialised. I can understand someone new who doesn’t appreciate the dozens of times shareholders have been lied or misled about funding and thinking Kefi a good risk but please look at the RNSa from this time last year. I agree IF they get TK financing finalised there will be a rerate - unfortunately they have a terrible track record, the RNS gave no positive vibe and money is most definitely running out that any financier will surely take advantage of !!

You do realise they had 3.6 (I think) million in creditor payments right ? Also this was 3 months ago and in the last 3 months we know they have spent heavily on SA and presumably TK as well - no money in the bank!

We have seen this type of movement before ahead of placings - HArry and the Leach are putting the begging bowl round RAB and other institutions and the word is out no doubt -a placing in the 1.10- 1.30 methinks

I don’t check every day unlike some here but last time I looked the bid was 2.6 - it’s down to 2 now so a decent drop of about 25% versus market drop of 3 or 4 % so not misleading. While full finance with the two big African banks is meant to finalise in Oct he was gonna finish the other bit in September right ? That’s what blue said in his interview in mid/late August - he’s still got a week or so but as I’ve said before cash is running out before he needs a raise and if financing doesn’t happen before then surely it will be viewed very badly by the market with another dilution with no financing. Saudi is almost irrelevant at this stage as it is years away and surely the value is already baked in to the price already. Just adding balance now that even PE has deserted me !!!!

Harry said a month ago in his interview that he hoped he would be able to announce the TK financing in about 4 weeks ie nowish (though to be fair he didnt set a specific date). Every day without news adds to the uncertainty that this will actually get over the line hence the heavy sell off over the last few days - LTHs have seen this lots of times before - get ready for the now traditional dilution - pity they didnt do it two weeks ago at a 25% higher price point - typical Leach .

IF funding arrives AND THEN a placing takes place then yes it could be perceived positively as shoring up the finances ahead of period of investment and expansion BUT what usually happens with Kefi is they announce flakey positive sounding RNSs (without any actual you know cash), make a placing and THEN announce a further delay and THAT demolishes the share price again for LTH - I think this will happen before the end of the month as they need the cash eg "negotiations progressing well, expect completion mid October", placing, then och you know need a bit more time - early next year honest guv !

so bid up around 10% since I was last here a week or 10 days ago - well done chaps - i would point out that cable is now 1.34ish so be careful. If Harry gets funding at sensible levels its a positive but he may release an RNS saying something like - "negotiations going well, expected to finalise soon, just need an extra £4m to tide us over for 6 months to do Saudi exploration and finalise things- with a release of I dunno another billion shares - money in the bank is what counts not (more) promises

sorry what are you referring to - can you post a link ?

I'd also agree with most of that although I would point out that as well as some undoubted bad luck there has been significant incompetence and even worse lying from the Board particularly re financing and while luck can change the Board are still all in place -and while Harry has been diluted too he has also pocketed about a million quid in salary since the ANS fiasco was announced.

ive posted several times about my motivation so wont repeat myself. in terms of number of posts I pale into insignificance compared to at least 4 or 5 posters here , maybe more - all of them positive some on the verge of delusional on the stock so I add a bit of balance. I NEVER said there would be a war with Eqypt though I do not discount that possibility out of hand given the situation that anyone can google. The far bigger issue is Covid delays - both in terms of local infections (though they have been SIGNIFICANTLY better at managing the outbreak so far) and also in supplier countries and how that might impact supply. Civil unrest is also a big risk factor - now and over the next few years. I fully support what the president is trying to do but when you make big changes you upset the status quo and that brings risks as the attempted coup showed. These are just some of the risk factors that the rampers do not mention even though in my opinion are one of the main reasons why financing has not been achieved so far.