Member Info for Stebo

Manu, there is already a road. This is a new road, specifically for Tulu Kapi, not just some public road that was being built anyway. The bulk of the $20m that is flowing is for community resettlement compensation though, but sure you’re a retired Warren Buffoon, so you already knew all this 😂

The finance is flowing…. You invested yet?

That's your problem manu17, you good dooped during the phase that developers spend rinsing the stock market for money. If you knew anything about mining you'd have spotted it a mile away, but you're not as smart as you think and got screwed. Most people who invest too early get trapped, but eventually the sp rockets and everybody ends up doing well to varying degrees. You though clearly don't understand the game, you have crystalised your losses, and because you can't see the wood for the trees (or accept that you made a poorly timed investment decision) you spend your days on here making a fool of yourself.

It's not too late to recover your losses, but you're to stubborn to, because that would require you to admit that you were wrong when you initially invested, wrong when you sold at a loss, and your still wrong now.

Really Manu17, you have played this one just about as poorly as you could have, making the wrong choice at every juncture.

Better luck next time, it's a shame you're too proud to learn some lessons from your mistakes.

PS, yes lots of money flowing ;-)

Manu17, there you are lol

Do you realise how stupid you look, when it has just been confirmed from the horses mouth that $20m of the $320m has already been sorted and is currently flowing, and then you come out with your little quip, which has aged like milk lol

I'm afraid it is time for you to disappear off into oblivion - you've had your fun, but you have now been proved wrong.

Stringer01, would you prefer it if the markets did think that this was going to happen and the sp was moving upward? Would you prefer to be buying at 0.8p than at 0.65p? That's the "buy-high, sell low" approach lol

Bonkers, because the sp is currently half a penny, and by the time production starts (in less than 2 years) we will be a £300m+ pa company with a sp well over a £billion, with a sp to match.

As the market suddenly realises that all the pessimism on boards like this is just from disgruntled shareholders with a chip on their shoulder, and in actuall fact KEFI has the potential to make them filthy rich, then the sp will move towards 10p-15p. That is a very long way for the sp to go, in a very short period of time. If you think that the sp will be stagnant during construction, then you're very short-sighted.

Try googling the Lassonde curve for starters (as already advised by crazytowner)

Burried_Treasure, Bukowski750 (Bonkers), that's getting pretty desperate now.

You guys are literally bullying a man, on a forum that he likely doesn't even know exists! Catch a grip of yourselves!

Mach_20.... are you suggesting that there is a chance of sign-off not happening? Seriously?

This is a done deal. All that it's waiting on is final updating of numbers, and then sign-off asap.

The pressure is on, and nobody within the syndicate will want to be the ones getting it in the neck from everybody else for holding things up! Well apart from maybe the government, but they've done their bit already. Ratification sorted and $20m in funds currently flowing.

It's also worth considering the relevant lack of PR around the ratification. Apart from todays interview (recorded last week), and the short RNS, there has been nothing.

This will be very comforting (I'm sure) for the fearmongering traders who like to bang on about how any PR is just to ramp the sp for a placement, but also I wonder is Harry too busy crossing 't's and dotting 'i's with legal teams, rather than spending time doing PR.

It sounds like he is under enormous pressure, from the whole syndicate, to get this wrapped up and signed off. His focus seems to be on getting that done, rather than talking to interviewers about it. The 'done deal' RNS could come completely out of the blue!

Crazytowner - yes, found that interesting. It puts a hard deadline on sign-off. KEFI / EG only have June, July and Aug to get the community resettled, the fabrication of the plant procured and the whole place set up for the heavy construction teams rocking up to site in Sep.

There can be no delays any longer - this now needs to be signed off ASAP to get these orders placed and preliminary / enabling works completed before Sep.

The whole syndicate are now 'barking' at KEFI to get this pulled together and signed off. They won't be waiting a day longer than they need to. RNS could literally drop anytime.

Minthrel, if we're in the investment institution's radar, their due diligence will insist that the sign-off is complete before getting involved (or perhaps a mcap threshold). Tiny window of opportunity left of PIs to get in and exercise their edge over the institutions. They know that this is a £billion company, they will happily buy de-risked at 2p, 3p or 4p and hold for the long-term.

When this goes, it is really going to go!!

Some great info.

Who was that tube on here who keeps asking "any money yet"?

He needs to listen to 17:00 to17:25. "$20m.. that's already done and the money is flowing in"

TML, what you're missing is how undervalue KEFI is. Even worse case scenario, KEFI is a 12p / £1b mcap company - those are the kinds of figures that you can sit down and work out, or alternatively just read some analysist reports who have done the calculations for you.

The issue is, how is KEFI going to get from 0.6p to 10p within the next two years. I personally don't think that it will lie dormant at 1p-2p and then suddenly jump to 10p a few weeks before first pour. It will be a gradual climb, and I personally believe that's already started with ratification.

WinstonWolf, where would you suggest the next leg up will take us to? What's the next level of resistance? 1p?

Bonkers, feel free to have as many profiles as you like. I'm not criticising you at all, I just said it was funny.

Well, actually the Ethiopian Government are busy spending their $20m building roads, and relocating the community, so yeah, there has been some "money come it yet".

Also Bukowski / Bonkers, you're fooling nobody with you "kiddo, bruz, etc" lingo lol

Feel free to work away, it's equally confusing but also funny to watch lol

Bukowski, it is so obvious that you are Bonkers. You have the same completely ilogical way of assuming that the sp should be some kind of indicator of value. If the market correctly valued companies then, the only time the sp would move was when a company became inherently more or less valuable. The fact that sp are volitile proves that the market never correctly values companies, which is exactly why people try to make money buying and selling shares.

You look for shares that are under-valued and try to buy them before there is a correction. Right now KEFI is incredibly under-value. You even say it yourself, the mcap has went down since ratification. Even a child can see that decreasing risk equals increasing value, but with KEFI it has not yet led to an increasing price. Therefore it is obvious that shares are artificially cheap right now (because of the robot seller dumping into any volume).

That can't last forever, and eventually the seller will sell their last share. At that point in time the sp will naturally start to rise, the market will start to see the price rising and get interested and eventually get fomo, which will start to snowball, but the smart money is taking advantage of the seller and buying now.

I have to agree with Alanos.

Yes there are still risks, but there are risks with investing in Apple or BP or just about anything. Jurisdiction is often thrown up as a risk, but the security rating of Ethiopia is now the same as places like Egypt, but with the benefit of having much less red-tape compared to places like UK, Canada, Aus. I see jurisdiction as an over-played risk. The same with management, etc. Shareholders like to gripe about Harry and the board because they feather their own nests and have abused the stock-markets over the last ten years for finance, with bs and over-promising. If you actually step back and be pragmatic about what they have achieved, it is remarkable, and if they are as successful with development of Tulu Kapi, it is not a risk.

The same with mine construction. It's a simple open-pit mine. The community relocation is no longer and issue, water is no longer and issue, power is no longer and issue and road access is no longer an issue. Minimal risk imo.

The reason that the sp is where it is, is because of the huge robot seller, who has been off-loading for the last 4-5 months, and also because of sentiment like ShotgunMike - ie the sp is low, so therefore there must be a reason for it. It's an illogical cause and effect hypothesis, but because it's prevalent it becomes a self-fulfilling prophesy. IMO when the seller has fully exited, and the sp starts to move, the picture will all change very quickly!

Crazytowner, regarding GMCO in my opinion there are two scenarios that make sense:

1) it is very much for sale, and the recent noise has just been a negotiation tactic. Perhaps the initial offers were all low-ball 'chancer' offers, in the hope of picking up a fire-sale bargain as KEFI potentially needed the funds desperately for Tulu Kapi. The RNS about BCMs investment, and the details of the other ERNs, Ethioprefs, etc is just to send out the message that GMCO is for sale, but it's not being given away for silly money.

2) When KEFI went from 25% to 15% it was to clear $10m of debt owed to ARTAR. Perhaps ARTAR were panicking a bit at the thought of losing KEFI as an incredibly valuable partner, and they may have offered to open up that $10m tab for KEFI again. Therefore KEFI can keep a piece of the pie, while ARTAR fund the development and KEFI provide the expertise. Then when KEFI eventually do sell, it will be 15% of a much larger pie, and they can pay ARTAR back out of the proceeds.

3) I've also read a suggestion that KEFI sitting on $100m from GMCO sale might have been distasteful to the rest of the Tulu Kapi investors and financers. We've just spent years begging people to invest or fund Tulu Kapi, and just as the deal is about to be signed, we'd be sitting on $100m of our own money which we've not invested! Perhaps there's a done deal, but this is a bit of a stalling tactic until after sign-off, because KEFI want to use the funds for KEFI investment / exploration, rather than pumping them into TKGM.