Member Info for Smellyben

true it has been two steps forward one step back for well over a year with ANS for various reasons (and more than that for the whole company for really LTHs) but the project is now officially launched to the whole mining community of Africa at the recent Exhibition by Kefi the govt and ANS and they have confirmed there are now no barriers bar the legal nicieties for the project equity funding to proceed. The debt financing recently announced has nothing to do with ANS (some people were conflating the two as if there was an issue with ANS funding, there isn't, they are and always have been entirely separate parts of the total project funding) . Of course some people take the view that it is naive to believe these announcements and believe ANS - presidents of banks, head of armed services etc are gonna not deliver but I think it is naive to stay out of this while you have the chance to triple your money almost overnight and have a potential 10 bagger if their other investments proceed as they hope. We'll see who's right by Christmas I suppose

we have the signatures !! We just need the money :) !!

not sure by what you mean by no urgency for the money - we are still within what the company said the likely timescales would be to get over the formalities - there are lawyers, multiple boards, compliance depts etc so it does take time understandably. I've posted many times on this board what may share holding is and have topped up further when it fell to 0.6-0.7 - but obviously newbies to Kefi dont know the history and I've not been a fan of their FD for numerous reasons but the bank finance just saved us 30m dollars (our share basically the market cap of the entire company lol!!)

Got sucked in 2p and all the way down ! All of my SIPP and a good deal of my cash - the facts as told are basically saying its free money as thevalue really is many multiples of where we are now but do we believe the fact tellers? - the market is skeptical given all the previous disappointments and I can absolutely see that but I've looked Harry in the eye and asked him and I do believe him (perhaps foolish I know but you gotta take a risk in life!) and nothing has com efrom the company in the last few weeks but posittiivity

Which is understandable but I’m choosing to believe that we have another party who will in the next week or two make an investment with cold hard cash that values our share of the mine at 6p and that excludes all the other assets. The comps said they were half way through the formal processes 11 days after they started - that means around today we should be finalised. Give a few days grace and I expect good news in the next week. I now own over 2% of kefi and am looking at a loss of 30k so far but I really hope I’m right !!!!!

I must have read a different RNS to the market ! Official launch, extra cash from ANS and most importantly the major funding now being fought over rather than us going with a begging bowl - I pray this continues to sell off - I’m getting some significant money on Friday which is all going into this and the lower price the more shares - traders are getting screwed and for me that’s fine us LTHs know the value here especially after the funding has finally been settled.

That is excellent news - the president who has just won the Nobel prize - has defeated his biggest internal enemy and source of internal upheaval. Abiy has begun a tremendous change in the country and obviously that causes friction and internal dispute ( think Thatcher in the 80s with Scargill but in African terms) - the future is bright for Ethiopia and what a change from a couple of decades ago - far more important than our few shekels in Kefi.

Totally correct - you can’t blame day traders for being in and out with a 30-70% profit - especially as they will not be able of the whole history here.

As most people who have been on this board know I am no tamper and have been extremely critical of Harry and his FD for a number of reasons - I still stand by those criticisms BUT the whole reason I invested in the first place was the underlying assets and the excellence in the partnerships- this looks unstoppable now and when the ANS money comes in at roughly 2.5 times this share price you would expect us to be trading between 3 and 4 p by the end of the month. Fingers crossed !!

It will be a couple of weeks at least - Harry went through the process in his interview a week or so ago. Assuming no hold ups which I don’t now expect money should arrive by end of November- hopefully the short seller got caught with their trousers down today.

I’d raise a resolution to fire the FD initially and then a resolution to only raise finance via a rights issue or a sale of the company but others will have ideas and the point of the group would be to debate and then all act together - at the moment they treat small shareholders as bank machines and have complete contempt for us.

Surely if he has say 500k in unpaid wages and the share price falls to say 0.25 he can get around 20% of the company when the money comes in ?

Shareholder action group

https://www.sharesoc.org/Shareholder%20Action%20Groups.pdf

Some really good info about what needs doing to form such a group and put pressure on the Board to get rid of underperforming directors and perhaps change direction of the company. For example at this point I’d rather see us to be put on sale for around 1.5 or 2 pence to a mid cap with their own resources to see through than trust this lot not to dilute me to nothing. others may have other better ideas but at a minimum the dilution needs to stop and the people who devised it need to be gone.

Please anyone who is interested give me a tick and I’ll reach out to you separately with some next steps.

Cheers
SB

Except that he hasn’t been paid - he is getting his remuneration in shares so it is to his benefit for the share price to go down - he gets more shares - very suspicious

Because today after the last missed deadline I’ve decided to try to do what I can to get rid of the management so proper people can take over

Yes 1.5 with around 200m fewer shares and a promise of cash ( the only holdup being technical reports for ANS) that is until this latest roadblock arrived - every time its the same - we are down about 66% (not exact) from just a few months ago because no one trusts what they say anymore and the loan shark just keeps printing shares

What’s that got to do with Harry s broken promises , and general incompetence

You clearly haven’t been watching ! ANS money was promised last August, then September, then by Xmas , then Q1, Q2, sept and lately October which they announced today again missed - all the while getting paid big salaries as shareholders are diluted to nothing- through their financing arrangements- I wouldn’t believe Harry ignorance he said the sun would rise tomorrow and I warn all newbies don’t make the mistake I made of thinking they were honourable and competent. No one doubts the value of the resources but the way that are managing it it’s unlikely us shareholders will get any value

Wish it wasn’t so but this delay means that all the plans and timetable need to change - they have already said it it will slip and surely at a cost and this means more loans more dilution etc - time for a bigger fish to take us out

I’m going to set up a what’s app shareholder group - I have about 4% of the share cap from 2 shareholders so just need another 1-1.5% to rise a resolution. 8-10m shares or thereabouts so we can try to get rid of the pair of them I’ll post details later this evening if people want to join.

Well there are delays and there are delays - how many years is it for Kefi - 6, 7 ? I get delays happen but the farcical way in which the financing has been arranged is criminal (possibly literally) - I completely blame the FD and Harry as his boss for the massive dilution - the ops guys have done a good job and we have been let down by this board - time for them to relinquish their free shares and go