RE: What should kefi do with the money?15 Nov 2024 10:46
Ha ha ha, small dividend on the back of a few million distribution, certainly won't get the SP moving.
FFS this project has been going on since 2009 when a definite feasibility study ($290m estimated to put the mine in production) was carried out by the previous Italian company. For over a decade Kefi has tinkered with the project and in all that time they could of hand dug a tonne of metal from the site.
The AIM market attracts UK investors mostly, in my opinion, and few folk have got much cash to start buying into this unless there some positive signs that the company has got it together to scratch some metal out of the ground.
If I was on the board I would at least hired someone to drive a digger away from the locals houses and scratch out some metals. It is an open cast mine so you can hardly mess anything up piling up soil in appropriate spots.
Albeit security issues set the project back, but you have to ask if HAA hobby in Saudi cost him time which could have been spent banging on every bank under the sun to seal a deal.
It is heart warming that we managed to build a school, the local children could also have looked forward to a fish pond which should have been such a small gift for a mining company to dig out. I do note one photo with local hired to hand dig out a trench with shovels, but I have no idea how old it is.