Member Info for Steve4077

I wonder if the company is holding back from updating the JORC because they don't want Anglo getting involved until they prove up a lot more than 2m tons. Otherwise, Anglo might get in cheaply.

Expected Timescale = Quoted Timescale x CB Factor.

I wonder if the CB Factor is a constant or a variable? I think it is probably somewhere between 1.5 and 2.0, so that should give us a reasonable range.

Apologies Colin if watching - you know we appreciate your enthusiastic optimism :)

Based on RNS yesterday, I agree that Q1 is fine for income. No point in setting a high expectation and being disappointed when we don't need to generate income in Q4 anyway.

>> It is a cracking interview, pulling it all together and kicking numbers around we’ve all been thinking, but don’t mention for fear of ramping.

It's a good sign when everyone is concerned that trying to be objective looks like ramping :)

One of the good things about XTR is the general quality and maturity of the board. Various LSE boards suffer from excessive ramping or de-ramping, hostility to objective questions, ongoing playground feuds, etc.

We've had cross-ramps on here before (e.g. deposits halfway up a mountain in the Andes), but they are usually met with a comparative analysis of the two companies, rather than insults :)

>> Made the mistake of mentioning XTR as another possible GGP

The GGP forum always reacts badly when anyone suggests that another company could have greater potential as GGP :)

GGP market cap is about £640m. XTR Market cap is $35m. Many of us on the forum believe that XTR has 10-bag potential, so you need to consider which is more likely to happen. XTR at £350m or GGP at £6.4 billion?

>> The SP is insanely low and I'll be having another top up when funds clear later this morning.

I told myself I wouldn't top up anymore as am I already very heavily into XTR, but I did last night :)

Each one is £20. It is probably one of the no fee brokers.

>> I've heard a rumour that it could be bad news on the core samples :-(

Bad news for those not invested I assume? :)

>> 1.2m tonne = 0.41% prior = 5 tonne copper, 0.51% new = 6.3 tonne copper

Isn't 0.51% of 1.2m tons over 6000 tons of copper (an extra 1000 tons) ?

>> Steve if you count an initial drop of 30% as not panic selling then we have differant opinions on that.

What has the share price got to do with 'panic selling'? The share price is based on how the MMs react to (or take advantage of) investor's reactions to news.

'Panic' to me would be a large portion of the investor base selling their shares. In this case 98 out of every 100 shares in issue remained with their original owners. If there is a crowd of 100 people and two of them starting running around yelling and selling their assets cheaply while the rest look on a little bemused, is that really a panic. Or are you judging this on how cheaply those two people sell their assets?

Pretty unusual for a company to RNS an interview.

7am RNS that sounds terrible and drops the share price a lot, but with a 7.20am interview that explains the problem is fairly minor for anyone bothering to listen. After 2.5 hours of market being open, another RNS that draws attention to the interview from three hours earlier. Why not draw attention to the interview before 8am?

Interesting games being played here. Almost seems to be an engineered dip.

https://www.londonstockexchange.com/news-article/KEFI/new-company-interview/15153713

>> Sorry Harry but In my opinion you have dropped a b.....k by using security and causing panic selling.

Given HAA's careful use of language in the past, it seems unlikely the text was accidental. While it did cause some selling, it is hardly panic when only 2% shares in issue have been traded. Although, I suspect that the appearance of 'panic selling' would be helpful to HAA if he needs the EG government (who own 20% of the mine) to apply pressure on local interests.

BTW, I have all the usual suspects are filtered to preserve my sanity :) so I am only responding to the reasonable posters.

I agree it has gone on a long time and at some point you have to decide whether to stick with it or decide it is a lost cause. However, most people seem to entirely blame HAA and I actually have a lot of sympathy with his situation. I've been involved in some very large and complex multi-national deals, but nothing like what HAA is trying to pull together.

HAA is trying to organize a finance deal for 10x the company market cap in Africa, during a war, a global pandemic and multiple states of emergency. He has to engage with many different parties, including locals, different departments of central government and international finance companies and get them all paddling in the same direction at the same time. Its something of a miracle he has got this far, so I am still giving him the benefit of doubt. Maybe I am just a hopeless optimist :)

Replace the asterisks with 'directors talk interviews'

I just listened to the interview. It sounds like the problem is unrealistic demands from locals near the mine. Based on that and given that HAA doesn't bother about the short-term share price, I suspect this 'pause' is more about trying to apply some pressure on the locals. I can't see the EG government twiddling their thumbs while some local functionaries hold up the company's first gold mine.

https://www.***************************/kefi-gold-and-copper-chairman-explains-security-concerns-at-tulu-kapi-gold-project-interview/4121025451

>> Do we have an ongoing placing?

CB said in July that it was 'unlikely' we would need a placing in the next 12 months (to mid-2022).

There is definitely someone selling. I can see three 500k trades, plus a few smaller ones, on L2 that are sells based on price and timing.

As to the reason, I have no idea. Anyone not familiar with porphyries might think the grades are too low, but in that case why were they invested. It might be a trader who will bank his money once he hits a certain percentage uplift and isn't thinking about the longer term. It might simply be someone who needs the money.

In general though, the story here is very compelling and the evidence to support that story is rapidly building up. When you see someone sell, sometimes the natural reaction is a fear that they know something you don't. The reality for any well-researched investor is much more likely to be the opposite.