Member Info for Steve4077

I'd far rather than have 1DAYMAYBE's over-optimism, than the misleading de-ramps and celebration of share price declines that we often see on LSE forums.

Everyone gets over-optimistic to some degree regarding the chances of their investment doing well. Definitely affecting me at the moment with my betting on Euro2020 :)

@theiceberg do you have access to L3? If so, how much do you pay and is it worth it?

Also, price is weird this morning in general. Total volume on L2 is 2.6m, with less than 200k sells, yet ask is dropping. Could be some delayed trades in there though. Last 3 trades were 2m buy at 4.3, 50k sell at 4.13 and then a 43k trade at 4.228. I can't tell if the last one is a buy or a sell :)

Nice 2m buy (£86k) just went through on Level 2.

BTW. the 4.5 is a false number. Whenever the bid-offer changes, you see tiny trades at the 'official' bid-offer price before it reverts to the real bid-offer. The 4.5 'buy' was for 667 shares. The true top today is 4.4232.

That happens all the time. Buy price was dropping this morning, before it reversed and went up. In fact, another buy just went through on level 2 at 4.415, so it is now going the other way again (and then a sell at 4.3).

>> Iam just pointing out that the buys are getting closer to the actual bid price of 4.2p

The buys are going through at 4.4 and above at the moment, not 4.2. Sells are around 4.29

>> Good luck getting in before the next rise my man. It could be anytime.

Yes, that will be the tricky part, especially given my usual terrible timing :) I am convinced this will multi-bag within a couple of years and probably within the next 12 months. I'm only out because I think a couple of other stocks will jump first (I won't name as I don't intend to cross-ramp). The news about the stope probably gives me a little more breathing room, but I'll keep checking in.

Thanks for posting the Q&A link.
hTTps://www.ramblermines.com/files/2021-AGM_Shareholder-Questions-and-Answers.pdf

On the Q&A, RMM are very ambiguous on the finance. I still don't think it is likely to be a placing, but the tone is almost "Stop bothering us about finance. When we are ready, we will tell you how much we need, what it will used for and how the finance will be handled".

Also, the below is not encouraging in terms of likely total copper this year. It sounds like RMM might be significantly under the guidance. Would be good to hear from Cornish on the likely consequences.

"In March, we experienced a fall of ground in a high-grade stope which was our only source of ore and expected to contribute significantly to revenue. While the stope has since been recovered, the ore grade has been diluted and there is no further high grade stope planned for 2021. Hence, that recovery of metal will not be possible this year. "

For full disclosure - I was invested for most of the year but left about a month ago because I needed the money for something else. I do plan to re-invest later in the year so checking on the board occasionally.

Just read through all the posts from yesterday for various interpretations on news. Also see company Q&A on website and RNS from Monday.

It has huge potential for multi-bagging IF the finance is completed. There have been so many delays - some understandable due to pandemic, war in Tigray, etc. - that the current price includes scepticism regarding completion.

At the current price, you are probably getting about a 3-1 or higher bet that finance will complete and it is a lot more likely than that. The downside here is more trolls and de-rampers than I have ever seen anywhere else :)

Yes, sorry. I knew I had seen it earlier, but I've checked and it was 8am this morning, not earlier in the week. Long day :)

They do mention the warning in the RNS from Monday though:
https://www.lse.co.uk/rns/KEFI/results-for-the-year-ended-31-december-2020-w1fo753f1v2ut1k.html

"It is important that we now proceed to financial completion in accordance with the latest plans agreed with the Government. Indeed the Government has warned of administrative consequences if we fail to do so and our syndicate have all made it clear that all wish to proceed to plan subject only to normal safety and compliance procedures."

>> That was a good move by Kefi and Steve. Kefi just issued a Q&A fudge today after someone warned them

Struggling now crackers :)

KEFI did mention the warning in an RNS three days ago
https://www.lse.co.uk/rns/KEFI/results-for-the-year-ended-31-december-2020-w1fo753f1v2ut1k.html

The Q&A has also been up since Monday and was quoted on this board earlier in the week. If you just make things up without checking, then you don't look too good when you are found out.

BTW common sense needed here. A 'departmental official' sent a warning letter (as per KEFI Q&A).

Given that Ethiopia is trying to attract Western investment, the mine is very significant both politically and economically and a lot of infrastructure is already under construction, it seems unlikely in the extreme that any sort of major action will be taken when finance is this close to completion. Well, unless Ethiopia wants to discourage Western investment entirely.

It sounds like simple posturing. The KEFI Q&A stated that "We received a warning letter to push us along.". The share price has actually gone up since the 'warning' was issued.

crackers10 just read the company Q&A. They already acknowledged it days ago,
https://www.kefi-minerals.com/investors/q-and-a

I assume the article is referring to the warning referenced in the company Q&A:
https://www.kefi-minerals.com/investors/q-and-a

Q: Please elaborate on the pressure on the company from the Ministry in Ethiopia, when did the Government issue a warning letter and what is the upshot?

A: We submitted the final development and production plan in early May, there was some media commentary attributed to a departmental officer in mid-May and more again in June. We received a warning letter to push us along at the end of May to which we have responded both formally and informally. The plan remains that which we submitted formally in early May (and which is summarised in the Annual Report) and we are proceeding as fast as possible.

BTW the translation below is a lot better than the one I got from Google Translate, but still not really clear about the content of the warning, what KEFI need to do or the potential consequences. However, we had an RNS this week, post warning, so anything major would have been mentioned.

If I had to guess, it sounds like some junior civil servant following a process :)

Cracker is just an attention seeker and probably a duplicate account for one of the increasingly desperate trolls. If you ignore him, he will get bored eventually and leave.

Someone joined ADVFN today and then posted about ten times about the so-called newspaper article, but seems extremely reluctant to post a link :) Apparently a 'friend' told him about it.

Given the excessive number of trolls on this board and the ADVFN equivalent, I would ignore anyone that claims something and then doesn't provide any evidence.

WB: "The stock market is a device for transferring money from the impatient to the patient"

The task of the board of XTR is to prove up Bushranger and create long-term value for shareholder, not keep them entertained on a weekly basis. There was an hour-long update interview with Colin Bird, Jeremy Read and Quinton Hills only two weeks ago. Maybe watch that again if you are bored.

Lots of green in the forum today :)

For those who missed the accidental reveal, porvenireal is FatherTedFeck's duplicate account :)