Member Info for TheCondorMan

Are you referring to Harry's 7+ years of repetitive b/s .... imminent launch and all that blarney ?

on 5th october, otherwise known as four months ago, the company ****ily said this:

"this is considered the pivotal formal step for project launch and, upon receipt of final credit approvals , the procurement teams and the social performance teams will be mobilised so that all final details can be inserted into the detailed definitive documents....the company expects full project launch to commence in the current quarter as previously advised."

more bs will be excreted this quarter no doubt

That makes it 7+ years in a row they've tipped the flea ridden dog. result ? c99% loss.

That 'football' has been deflated... and will only get any air if they cough up £3.5m. Otherwise, kefi is in breach of the JV terms... which means the project reverts to the operator (ARTAR).... as for technical experience ... LOL.... there are $billion outfits that actually produce the metal.... pretending that kefi is somehow the lone ranger in technical know how, in all of this has to be a delusion of epic proportions.

Where have kefi said the £3.5m was funded by 2% of their share. Here is the exact snippet :

ARTAR funded GBP3.5 million of KEFI's pari passu 2023 contributions and continues to do so as GMCO pushes forward to define the preferred development scenario over coming months for its first discovery Jibal Qutman, as well as the resource upgrade and expansion at its second discovery Hawiah, as well as further resource expansion and discovery.

Additionally, the partners' respective shareholdings of GMCO are now being adjusted to the expected 75% ARTAR and 25% KEFI. KEFI formerly held 27% of GMCO.

===

and as announced today, theyve acknowledged they still need to pay back £3.5m.... so the questions are :

1) why they had to give up 2% .... for what ?

2) where will they get £3.5m from they can't go below 25% (part of the jv agreement) ?

They still owe ARTAR £3.5m yet have been diluted to 25% in GMCO... and they say will be settled in "due course" without letting go of further percentage

and they now owe 1.5m + interest (c 35%). so nearly 6m to settle.

Seriously ? for one look at what's happened since the 1 for 17 consolidation....

2ndly, it sure as hell implies more shares to be issued down the line....

also, 9 out of 10 times, only companies that have diluted holders to high heaven do consolidation - seen as a red flag telling everyone we like issuing shares like it's confetti

and 9 out of 10 x, consolidated shares always drift down....

in theory it's all very good saying nothing changes... but in practise it just advertises openly that it's a dog with fleas trying to mascaraed like a pedigree .

"If it comes off - as looks likely "

see a dr... before it does.

Dvharrison is another MEGA hypocrite.... loves to post his negative slants on other stocks.... eg SML... but takes a swipe at those that do it here...

Last reported cash balances (· Unrestricted cash at 30 June 2023 was US$129,000 (31 Dec 2022: US$341,000), prior to the receipt of the US$45,000 DDC claim in the first week of July.

28 Sept 23 RNS: 'Company has maintained a tight control on overheads and is looking to source short term funding to ensure adequate cash balances are available for planned operations, thus avoiding unnecessary dilution'

Must be running on fumes? 'Unnecessary dilution', thats a laugh given the recent of the BoD raising (and wasting!!) previous funds. Where are we with the 'short term funding'? Where are we with anything?!

--------------------------------

The BoD continues to have its snout in the trough, why are they bothered....

One of his posts on another stock :

"It is very difficult for anyone to post anything even vaguely negative, no matter how well-intentioned or researched on any BB, without those who are already heavily invested jumping up and down with rightous fury. That's human nature I guess."

what a hypocrite !!

You mean like the copy/paste b/s resident faux guru ?

Looks like like upwards for 45% interest rate charge !!

CLN facility with Sanderson taken out in Nov 2018 of up to £4m with £0.5m drawn down.

The annual reports show bridging finance

* in 2019 (£0.6m borrowed +£0.7m interest/fees)

* £0.5m Sanderson CLN repaid in shares and £2.2m death spiral CLN (+£1.2m interest/fees)

* 2020 (£0.7m borrowed +£0.1m interest/fees), 2021 (£2.7m borrowed +£1.1m interest/fees)

* £75k Sanderson CLN repaid in shares, and in 2022 (£1.8m borrowed +£0.5m interest/fees)

2023 .... ??

DDR Q&A

Q. How has Kefi been funding itself since the last placing proceeds ran out in Q3 2023?

A. By drawing down the 'Sanderson Capital' working capital facility.

Q. How will Sanderson be repaid?

A. By issuing them shares at a discount to market price.

and Sanderson has had no declarable holding in the past, which means they were forward selling the past knowing kefi were drawing down on the loan.... and would be settled when shares were issued as payback.

as for the interest.... it's an eye watering 30%+.. also settled in shares.... forward sold no doubt

Everytime he's stated this, it's meant a placing in the works

The first mention of 'conditions precedent' some years back was accompanied by wording that they were standard conditions for a project of this size

Kefi now acknowledges it was effectively impossible to have moved to the start line of credit approval until the national bank had revised their forex rules and regulations, a non-standard condition. And NO mention of it until it was actioned.

The narrative then became that Kefi was instrumental in the amendments taking place.

Final credit approvals is what they’ve been repestedly saying will happen for over 4 years.

each and every time deadlines have come and gone, and the fat aussie makes up more rehashed promises... and mug punters swallow it hook,line,sinker. No different with latest b/s dealine.

remember it was supposed to have been done /dusted by Dec end 2023? how the ramping lemmings were trumpeting that deadline... it was nailed on the way they were ramping the aussies words. what happened?

now they are doing it all over again with this new aussie b/s timeline. bunch of clueless losers

Hotstocks ? lol.... a complete and utter garbage stock picker... their kefi tip is down 99%.

as opposed to "sees no holdups" ?

which means there are holdups... not matter how less than fundamental they are.

he's been saying the same****** for the past 5+ years....

just one example, in sept 2019

“all parties are completing the last-minute actions for next month’s start of the 24-month development schedule to achieve full production in 2021,”

that "last minute" has turned out to be "last 2.5 years and counting".

year in year out he's been bigging it up like he has this week. result = naff all happens.

the final sign off will never happen. 100% sure of that. harry will eventually walk or show the door for the abject failure he is

You sound like a cultist.

Have the uber rampers apologised for the 99% drop in the price while the company has failed to deliver on promises for nearly a decade ?

cue the excuses....