Member Info for Smellyben

hi guys

been a while since I have been invested here having sold out a couple of years ago in the low 40s but bought in again this week at 17.4. I always found this site one of the best on lse with some real quality posters like Nige and others. For me this is a two year play until the court case is decided with potentially many multiples in upside and plenty of outs even if that is not as successful as we would like - best of luck all - I'll not post much if at all but will be watching for your insight which is much appreciated.

the important thing I think is that these financiers know that they are in for tough negotiations on terms from these superb financial geniuses. I mean i believe Mr Leechs negotiation strategy for previous finance options is put all your eggs in one basket, ensure the financiers know you have no other options and plead for some spiral debt funding - anything to keep the wheels on for another 6 months salary and screw the PIs (sure who cares if they have diluted from 400m shares to nearly 2Billion in little more than 12 months - plenty more confetti where that came from !

yep all sorted for October, I mean apart from the $200m funding that they havent managed to agree for the last 10 years but that is just a detail I'm sure and it will all happen in the next 9 week - similarly my purchase of a 12 bedroom house in Hampstead is all done, I just need to sort the funding but that shouldnt be a problem I'm sure.

but they first re TK need to get the $38m equity funding for sources as yet unknown when they havent been able to fund for years then they have to get the major bank funding from 2 African banks for hundreds of millions of dollars before end of October or else the whole timeline gets extended yet again for another year or two in th elap of the gods re whole economy,
covid, ethiopian internal politics, funding etc etc and the farmers still need to plant for the next season before relocation that they have been promised for 5 years or more ?

is it possible yeah maybe - is it likely no - HArry et al will still take their £5 million a year overheads via placings and gullible (and i count myself as one ) PIs

so new new powers to issue more shares? - at least that is positive - having said that last time it was more if you dont agree you lose all your money so not much choice!

Have the AGM resolutions been released yet ? CAn someone post a link if so

sorry you are always open to debate? OK then - Oily asked a series of pertinent questions regarding a range of unknowns - from why ANS didn't invest, how we are going to get hundreds of millions of $ in investment from African banks in the next 9 weeks when we havent been able to get $9m in the last 2+ years, how the Covid/civil disturbishs might impact with investment and operational activity etc etc - you very clearly said you could answer but you didnt want to - so please do try to convince us who have been invested (until recently) as it could actually reassure if you had some insight - instead your "insight" is based on "well management said...." but believe me management have said the same thing for the last number of years time and again and shares numbers have grown from around 300m when I first bought in to 1.9Billion to fund management salaries and overhead costs - but I guess you are in the this time it is different and are probably invested in Tesla LOL!! Revenue is at least 2.5 years away if everything goes right - even in a good case - say 3 years - there is more and more dilutions coming and sweetheart deals for insiders at the expense of ordinary PIs - the market simply does not trust Harry et al. If funding ie cash in bank comes in the next 9 weeks there might be a bump over 2p but far more likely a "positive"v RNS saying funding is round the corner/imminent rather than money in the bank and the share price will crash (again)

UK Investor - just spent £50K on PAY - hope you are right ! Did my own research on the beach of course and looks good - a lot more chance of a return than Kefi for sure :)

That email was from a couple of months ago when RAB got in at 0.65p . I do put most of the blame with the Finance director - his job is, well the finance, and he always seems to put all his eggs in one basket with no alternatives which completely ruins your negotiating position of course hence the 2 year delay from ANS. Same thing has happened again with the two African banks - what happens if they dont step up for any number of reasons. Investor 2 I take your points and as I have said a number of times if you acknowledge the risks and still wanna take a ount more power to your elbow but I'm sure you would acknowledge the potential risk/reward mechanics changes alot when you triple in price in what 5 weeks - alot more risk when you got in at under half price (well timed BTW :))

Re vaccine god I hope so for everyone’s sake but probably unlikely and in any case not sure that would disproportionately affect Micro would it ? ( would get a bump I’m sure but sentiment seems to be against them right now ). I’m completely new to this and took a small position around the 310 mark last week just because it had recovered so quickly from previous lows I thought I’d make a quick 10-20% - more fool me eh! Now it’s dropped more I’ve done some more research to see if I should get out or double down. While the issues are pretty clear as to why the fall has occurred it surely is overdone and some kind of takeover from a rival or being taken private look increasingly likely so will double down - there is no short term liquidity issue which usually is the thing that kills companies and so I think this will turn around whether it be organicly or by someone making an approach - can’t be bad value at a fraction of the cost of a few weeks ago with no fundamental issues just poor performance that can be turned around

Ha ! If the share spread is 10-20% I can’t imagine a. Any company that does shorting and b. How expensive it would be - can you even short minnows like this ? How long you been here , 10 minutes? Hope it does work out for you- even a broken clock is right twice a day but putting faith in this management is sticking all your money on 32 in a roulette table - might come good but I’ve learned the game is rigged - best of luck - let’s see what the next RNS says - if they actually have money in the bank rather than agreements in principle or expected financing in weeks etc etc

Never heard of this site so thanks- positive vibes comes out on top as the biggest ramper !!!! Followed closely by top share picks at number 2 - I think that shows who is new And ramping and who have been here for years, experienced and believed management promises time and again only to be diluted again and again.

I think one day a mine will be built at TK and SA - I now do not now believe PIs will benefit but rather Be diluted out of any upside. Just think of the financial geniuses who have twice diluted at the lowest point of the share price and who have spent millions of pounds and years of time to try to fund the TK project to no avail. SA will be easier to get financing but is years away by which stage Kefi’s share of the project will likely be in single digits if at all. If I were Kefi management I would recapitalise with a rights issue and fund the equity share completely - from this board that seems to be a no brainier as the appetite is there !! Instead I expect broken promises delays jam tomorrow leaving shareholders to fund the trough. I have now no skin in the game but am here as a warning to any genuine new investors to don’t believe the ramping. If you are happy to take a punt then no problem it good all come good if management do what they say but that would be the first time in years and the evidence is all there if you take time to read the RNSs from the last few years rather than believe the new converts from that last few weeks ( and consider there motivation).

https://qz.com/africa/1881323/ethiopias-oromo-tensions-erupt-in-violence-for-abiy/

The spread is ridiculous so i sell when price is over one point Six and in tranches that won’t move the market too much - trades over half a million lose about five percent another reason when added to the spread i have grown to hate this share. Anyway this is my last post I’m outta here and newbies don’t say you haven’t been warned about management inability to produce any return for PIs ( as opposed to themselves and hedge funds)

Past behaviour is indicative of future behaviour they needed the money because they were strung along for Two years by ANS while we suffered dilution after dilution. Noel they say funding will magically appear in the next couple of months maim skeptics and have luckily reduced my exposure by a third with more on the way if I can get out

So just another’s 30million shares issued at 35% of share price more brilliant stewardship of our finances

just another missed deadline , more promises of jam tomorrow, delay to buy another couple of months and another £50k in salary for HArry - will probably end down today or it will over the next couple of days . Welcome to Kefi newbies. I will be selling some of my shares into this as I am now in profit for the first time in 3 years

OH FFS is that the level of debate - childish pathetic - what everyone should post is that this share is worth 20 points at least and we’ll all be millionaires next week and anyone who may have a slightly more nuanced and informed opinion is corrupt lying stupid etc especially as you have spent literally minutes researching and have bought on that basis. Oily is balanced and sensible he Nor I would have invested had we not realised kefi has some fine assets but to pretend the risks aren’t real and management have been poor is either foolhardy at best or deliberately disingenuous

I HATE the uninformed ramping from newbies trying to jack up prices and you are right to be very wary.

To be fair this could come good on a positive update on Saudi and funding and it could triple in price - note COULD not will. It is equally likely that TK funding will remain problematical and Kefi will be forced to offload more %age of the Saudi operation or dilute further. I would love to hear from anyone with a mining background about potential and also anyone with knowledge of the current liquidity crisis in Ethiopia and whether it is easing with their IMF money etc but alas we have idiots who claim 6-7p by October based on half an hour reading these boards !!

I'm surprised there wasn't a significant jump today on the news someone had just bought 5% of the company, still I'm encouraged some significant value investors see lots of upside - will buy some more tomorrow