Member Info for Smellyben

Was it though ? Have we actually received the cash as promised or is it just a binding commitment - I had thought we had been promised cash by end sept ? There are lots of binding commitments that people default on but if we had the cash then I’m sure the uplift would have been much higher

The day before the final deadline of receiving the initial cash the board issue an rns saying its all on track and the share price goes down - irrational- topped up again !

When it relates to the issue of a bond.

I expect 2 rns next week - one detailing exactly how much has been committed by the local investors- 30m would be good but 35 even better for the short term share price (though slightly negative longer term ironically) Also there must surely be one on ownership- a huge number of shares changed hands last week so we should get some clarity soon.

By my reckoning there have been around 50m shares changing hands in the last 2 sessions - so we should expect some rns soon telling us who has bought and who has sold.

KEFI Minerals (KEFI) “is pleased to report that it has now signed the Detailed Heads of Agreement with the Ethiopian investors” – and that they intend to invest $30-35 million (Birr-equivalent) via a company (‘ANS Resources’) which is in the process of incorporation… This follows a June announcement of an agreement with an Ethiopian investment syndicate whose leaders have a record of successful investment in other local enterprises and it is updated “given demand, recent refinements to the proposed transaction include the right for ANS Resources to subscribe in local currency alongside the Government of Ethiopia for up to US$35 million (rather than the original US$30M)”. An initial subscription of $9 million will be set aside into a locked account, with settlement commencing 31st August and completed no later than 30th September 2018, with injection of the balance subject to full project finance closing proceeding, fully approved by the Ethiopian Government. Indeed, even the release of the first $9 million “is subject to completion of remaining due diligence and execution of the binding share subscription agreement”. There thus remains clear risk here – but it is emphasised; “Subscription by both the Government of Ethiopia and ANS Resources to project company TKGM implies a valuation of c. US$66 million to a residual KEFI holding of 54%... It also compares with the previously reported NPV of US$57-97 million (NPV at start of construction versus NPV at start of production) for KEFI's proposed final interest in the Tulu Kapi open pit development, whilst ignoring any potential upside from underground mining, Tulu Kapi district exploration or its portfolio of targets in Saudi Arabia.” At a current 2.2p share price, this compares to a present market cap here of little more than £12 million ($15.5 million). That looks much too harsh a discount and, whilst the shares have responded positively to this latest, we expect much more on further financing progress. We’ll hopefully not have to wait long – completion of remaining due diligence and execution of the binding share subscription agreement “expected this quarter” – and thus the stance remains buy at up to 4.5p with a target to sell of 8p+

I’m just surprised there weren’t many more like that ! Agree with topical 4-5p by Xmas easy and I’m not a ramper - just this is completely undervalued - I say keep buying at these levels and I will as soon as I can offload some other shares - very rarely do you get an opportunity like this that the market just doesn’t appreciate true value. Now IF there was an external event like a new state of emergency etc then that would impact or if gold price continues to tank but to $1000 but l failing that it’s ever upward !

My understanding is that There won’t be any actual construction on the site until about 6-9 months ahead of production actually beginning. There is infrastructure work that needs doing first - building roads to the planned site, building power lines etc. Before that happens they need to relocate the local people, build them homes etc At the same time the engineers will be designing the mine, where to begin and extend, organising the equipment and personnel etc etc - so it’s all necessary prep for the next couple of years. You are probably thinking of the fact they can’t begin relocating the locals until after the rainy season in mid/ end sept which according to the latest news is all on track.

Suspect there will be a couple of price upgrades etc this afternoon which will give the SP a further boost - happy days!!

No delay , less uncertainty!!! Anyone who sells now good luck to you but you will look back as one of your worst investment decisions ever - this is going to be double digits in 2-3 years.

Couldn’t have put I better myself ! Though Everton is now making me doubt your judgement just a smige!

Well with jpr it’s more a risk of 100% loss but that’s by the by - my point is that this is like betting on spurs or Liverpool winning the league this year - it’s possible and not unlikely but Man City will most likely do it so I’d make that equivalence - I’ve made a bet on Liverpool at 4 to 1 and hope it happens but am prepared for losing it all - I’m only warning newbies to understand the risk reward scenario - good luck all

Oh jaysus I don’t know where to start - I really hope you are rampers and not investing your life savings - THIS IS A GAMBLE - I like the odds and have put some money in but not loads so I am hopeful but you must understand at the moment the company is pretty much insolvent. IF they sort the debt - by which I mean the bond holders agree to take a haircut of around 20% +(they’d still make millions) and the pension deficit then there is certainly 10-20 mil equity value and maybe a bit more but any talk more than that is dreaming- the bond holders could bring this crashing down but that probably wouldn’t be in their best interest as a fire sale of assets would likely result in much smaller returns and a pension fund that takes precedence over their interests - that for me is the hope - anyone investing here should b prepared to lose everything a la carol lion but also potentially make 5 or 10 times their investment - as I say I like the odds because I think in the end the bond holders will act in their own best interests but who knows !!!!

Sober up ! 100m - why not a trillion! Sure I think there could be significant upside but keep in the realms of possibilities please

Bought another half mil in two tranches - super confident about this

Totally right bluedreamer - I love the fact two derampers just appeared out of nowhere (a massive 4 posts between them) to talk down the price - says to me that the price will go up soon !!! Same as those who massively talk it up a few weeks ago - hopefully longer term holders know to see past this BS - we have taken a punt knowing it could become nothing but also knowing it could be a 5-10 bagger - depends on the debt resolution but no one is getting my shares until that happens - it is sort of binary - sort out the debt and we will be well in the teens and maybe 20s - don’t and we are at zero as there will be a liquidation- I’ve made my bet hoping on common sense prevailing but of course it may not !!

who knows given the vagaries of the market - the greatest machine for taking money from the impatient! bt what we do know is that at these prices the risk reward is massively in holders favour. After the recent share issue Kefi have around £3.5m in cash and no debt. That means the remainder of the company - the mining rights in Etheopia and Saudi Arabias, the designs, the expertise gathered internal and external etc etc is now valued at around £4m only - to my mind rather insane after tens of millions have been spent already in necessary prep work.

even in a disaster scenario where they could not raise the money - and all we have heard is good news and that all is complete - but even if that is BS, then there would still be £3.5m in cash available to shareholders which would put a floor of around 80-90p on the share SO from this level the downside is an extra 1p but the upside is anything up to 15p (according to Cantor Fitzgerald on Tulu alone so potentially much more longer term. Frankly if a casino offered those odds I'd be in so I am - quite heavily and is the biggest share of my portfolio.Just my opinion and rationale others may well have a different view but if so I'd like to hear their rationale.

and back up again - and breathe !

Nothing has changed imo- the only thing that matters is if the funding comes through or not. If it does which I think it will the price will rocket if not then yes it will fall but nothing else matters at this stage.

Do it quickly ! The 9mil coming in this month should drive the price to the 3.5-4 p level and then the bond issue hopefully next month should see us 6p+ I find the discount here extreme and I am freeing up some more cash to invest ASAP. Obviously all in my opinion but action really should happen very soon and you could miss the boat ! Good luck to all holders !