Member Info for Stebo

Last response to you buried treasure, because you're either an idiot or just here to disrupt and antagonise.....

A mining project is about 85% 'pre-construction works'. Once the project has been approved, and the finance is in place, the actual construction is the easy low-risk part.

If it's not for you though, you can't shoulder the risk, or you can't foresee the returns, then there are plenty of fixed term saving accounts, or lower-risk tracker funds, which might be more suitable for you.

The naysayers keep making this argument...

"it hasn't happened yet, so it ain't going to happen"

Do you guys realise how stupid that makes you sound? The whole point of investing in KEFI at this early 'high-risk' stage is to be the ones holding the shares when it finally happens. Literally the only reason for shareholders to carry the risks at this stage is because "it hasn't happened yet".

And to say that there has been nothing in substance in terms of progress, just makes you look even sillier.

Another one for the green-box-bin

"Any evidence on the thoughts of the 'silent [vast] majority' you claim are happy?

Thought not. More made up cobblers from the apologists for Fat Trougher Adams."

So far there is 17 "likes" on Crazytowner's post, and only 2 (I can guess who!) who have liked your post.

That's fairly solid anectodical evidence to back up what Crazytowner has said. The vast majority of KEFI shareholders were fully aware of the risks when we invested, therefore delays or dilution do not shock us to the extent that we develop some kind of KEFI-shaped chip on our shoulders, or start to consider HAA as some kind of scam-artist because he is making use of the stock market (issuing and selling equity shares is the whole point of the stock market - shock-horror!).

Those of us with a bit of pragmatism can see the huge strides forward KEFI have made at TK under HAA, in some incredibly difficult circumstances. I wouldn't want anybody but Harry to get this across the line now.

That's a good shout Crazytowner - maybe Safaya taking another big bite. They'd be well aware of the upside potential in Saudi.

I wouldn't be surprised to see a $5m (£3.5m) raise to secure GMCO, and I think it would be a great LT move for all shareholders. I also expect it to be following sign-off and at 2p+, where it won't have a significant dilution effect, and will be well worth the value added by retaining a foothold in SA and GMCO.

I have to agree. Bonkers has main-character syndrome, and thrives of the negative attention he gets and uses this to disrupt this board and spread fear.

I used to engage with him until I caught myself on and stopped wasting my time as he has no intention of listening to reason or getting to the bottom of a query. He is only here to argue for argument's sake, and he knows that it's easy fishing as genuine shareholders can be emotive when somebody posts uneducated nonsense, and they feel the need to correct. If that doesn't work he start getting personal, posting nonsense to bait people into responding to defend themselves. It's like some kind of dark psychology, just to get a raise out of people and give him his little kick of getting to take over the forum with a Bonkers-centred argument. Then he laments how he's always the victim and everybody gangs up on him.

Best thing to do is just block and starve him of oxygen imo.

For the sake of the whole board, it would be great if everybody blocked him, then the only people left to engage with him will be his various other accounts and the other's who love a bit of FUD

I also think that we'll get news on the Ethioprefs soon. The lump sum figures will be landing on KEFI desks already I imagine, which will allow the "tidying up" of the finance and equity to proceed. During the Webinar a question was asked in the room and Harry gave a bit of a non committal "could be as low as $15m, but I wouldn't be surprised if it was $30m" followed by "but I think that's all I can say about that for now".

This would lead me to believe that there is live business, associated with the Ethioprefs, on-going in the background. It's one of the last pieces of the puzzle, and once we get firm commitments we can see the full finance picture, and what that might mean for KEFI's final equity stake.

That RNS could land anytime.

Isn't it mad how a poster I've blocked, and haven't engaged with in weeks, is still obsessively starting whole threads with my name as the subject lol

Dear only knows what nonsense he's posting. Eventually he'll figure out that fishing only works if the fish can see the bait. I give him another week before a brand new 'character' joins the board, with an equally impressive chip on their shoulder.

Regarding deletion of posts, I don't think I have ever had a post deleted on LSE, but then again I expect that the vast majority of civilised and mature people on here are in the same boat.

Stringer, I have been really pleased with the ignore function on LSE, and I feel like this might be the last time I reply to you.

What you're saying doesn't even make sense, and nor does it even merit a response. I used to play that game with bonkers, etc. and it's nothing but a waste of everybody's time.

Your posts have nothing to do with KEFI, and you're clearly just here to disrupt, and pollute the place with nonsense.

Into the bin you go, along with your mates.

Stringer, do you have any reason for saying that, other than your chip on your shoulder about KEFI?

Thankfully you don't need to bet your house on it. You can just make your investment today and quietly sit back and not stress about it - it will happen when it happens, whether that be a surprise in July, during August, or even if it slips back into September.

Fear will turn to Greed, there will be a huge (10x minimum imo) rerate, and I am quite content to patiently wait for as long as it takes to get to enjoy those returns.

Targeting close in Aug, was previously July. That could be 1 day's difference for all we know. Might have been the end of July has now slipped to the start of August.

For a forecast sp of 10p, while the current sp sits at half a penny, I'd be quite content to wait for years, so an extra few days, or even extra four weeks, I'll not complain.

If anybody is selling their KEFI shares because sign-off has slipped from July into Aug, then I don't really know what to say about that without being derogatory lol

BCM is a civils and mining contractor. The Plant will be designed and provided my Lycopodium.

What makes you think that the plant construction is the hold up? Or is this just an exercise in flinging mud and seeing what sticks?

The hold-up was AFC ratification, which was supposed to happen in Dec/Jan, but the Ethiopian Government didn't get it sorted until May. Other necessary works that had to be completed is time-sensitive, so couldn't be commenced until AFC ratification was in place. In May that was achieved and the final sign-off process commenced. There are now no hold-ups, and the check list of activities are being ticked off one by one.

Doze. BCM's award will have been by commercial tender, where they have obviously undercut the PW Mining's updated prices, so we can be assured that TKGM is not over-paying. Updated costings (which I assume will be coming from Lycopodium anyway), will be updates based on material cost prices, which will come from various industry indexes.

If anything, because BCM have skin in the game, it is clearly in BCM's vested interest to ensure that there are absolutely no hold-ups.

MF2017 - good info, thanks for sharing.

A long time ago I did similar, but trying to look for existing junior miners and reviewed their mcap when they were in a similar position to KEFI.

I've long lost my notes, but it was mind-blowing just how good value KEFI is in comparison to the valuation of those companies. I was comparing based of approx. size of resource with equity level factored in, and then pro-rata adjustment to get like for like against KEFI assuming a worst case scenario of 1moz.

"Why are we al close (sp) to 50 week low"

We'll there was a fund-raise recently which has led to dilution, so you would expect there to be new lows. But a quick google has the 52 week low at 0.45p and the current sp at 0.57p, which is 25% higher than the 52-week low, so I'm guessing you're just here for devilment.

To be honest though, the sp action is irrelevant to me, and I am more interested in the TK progress. In fact, if I get another pay-day's worth of accumulation at these prices I will be over the moon.

As Harry says, once Fear turns to Greed, the sp will look after itself.

Yep, it dropped out of some kind of fear around the webinar that had been whipped up on online forums such as this one. This morning that direction has changed an the sp is on the up.

That low you're referring to, could turn out to have been an incredibly opportune time to be buying.

All the pieces of the puzzle are now assembled.... I'm looking forward to the RNSs starting to roll in as each piece of the puzzle starts to fall into place!

Sea of green ticks - seems like my post might have rubbed some idiots up the wrong way lol

Feels like there's a bit of strength coming back to the sp.

That's the webinar out of the way with none of the drama or negative bombshells that the rabble-rousers and naysayers where hoping for.

Turns out that most of the negativity is coming from keyboard warriors, and the reality is that genuine shareholders are behind Harry, appreciative of his efforts over the past decade to get us to this pivotal moment. In fact, in hindsight, I can help but be suspicious that the recent attempted revolt was perhaps all just an effort to get that one last buying opportunity before the fireworks begin...

We're now only a week away from July - this really is "place your bets" time for KEFI. RNSs are expected to start dropping anytime, confirming that Tulu Kapi is now happening. And as more and more ducks start to line up, prior to final sign-off, I expect everybody who is saying "if it looks too good to be true, it probably is" will start to reconsider as FOMO kicks in.

The count-down has started - Fear will turn to Greed. Watch as sentiment shifts, sanity return to the market, and that 10p NPV starts to look really conservative.

MF2017 - That was a great and well considered post.

I think that the biggest issue with KEFI is expectation management. You're buying shares incredibly under-value, in a high-risk industry, in a high-risk jurisdiction, in a company that is still effectively a start-up (pre-sales).

You're not dealing with a FTSE100 company here, and you have to expect and tollerate things being less than 100% how you'd like them to be ...... but with that comes the massive upside.

You can't have it both ways though. I can see the huge upside, and therefore an happy to tolerate the risk of dilution, programmes slipping, etc. trusting that with a bit of patience it will all be very worth it in the end!

I am actually looking forward to next week, and expect Monday to be positive for the sp after the webinar

Stringer, what makes you think somebody is holding it up? It's a process that is progressing. We're at the stage that the lump sum costs are being settled, and then the final tweaks being made the the equities and contributions, before being issued to everybody for signing within 30 days. Not sure why you've waited this long only to get your knickers in a twist in the final days.