Sell off13 Nov 2024 22:21
Very surprised how well the sp stood it's ground early doors and starting to fall away as the reality of the RNS comes into play.
We all thought that Saudi was this "Holy Grail" with mining companies looking to enter this space. Now in this growing environment and been their since 2008, not only selling down but selling off the assets. It has been bandied about a figure of £30M-£40M?
When you take into account what the real cost to Kefi would be over the LOM with the "real" potential there, that figure is chicken feed!
We still cannot be assured at what price the SA assets can be sold for?
Taken that into account, I think Harry has decided that the monies for TK is not going to come in as fast as he would have liked or the take up by local investors is lower than anticipated. Either of which has forced his hand to ged rid.
With the ongoing issues with funding for TK and the problems of the past in TK, I would not have thought that he would go all in there. This is an almighty risk! History, should have shown red flags in choosing this option. Only a couple of things on his mind and has been ongoing for some time, is to get TK up and running. The other to use the SIimply Red song analogy of "Money's too tight to mention."
We are in a precarious position until funding comes forth and the sale of SA assets whenever that arises.
As this news is starting to fully digest with investors, keep an eye on the share price as we could see some volatility until we see some positive news coming through.
A sad day for all concerned as on every RNS and Webinar, we were being told of the achievements of the various DFS surveys in SA.
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