Member Info for Xhita

Harry seems extremely confident that Ethiopia is a new gold region and that there are multiple gold discoveries waiting for the intrepid explorer.

A quick look on Google satellite does suggest there are multiple similar land formations West from Addis to the Sudan border.

Kicking rocks and trenches are needed. I think we'll end up with a very strong pipeline of opportunities..... All in the future of course

At 1.29p it all seems unrealistic but as we see some progress it will appear less ridiculous. At 5.2p my holding will be €1m.

I can wait.

Target I believe it's 86% now for Kefi.

"Increase in Ownership: The stake was recently increased from 83% to 86% to reflect adjusted funding structures, including a new $20 million equity-ranking-royalty financing from Chancery Royalty Limited and fluctuation in local currency exchange rates"

I don't know how that works, as I understand it CR Ltd has a 4.8% royalty.

I suspect quite rapidly the underground will yield new potential.

In addition to the share price appreciation based upon production and profit this business will be throwing off a massive amount of income which ultimately will find it's way into dividends as well as funding exploration and new mines in due course.

In 2 years I can double my money trading so really even 3p is a win.

LSE a sea of red so not a bad day. Multiple sells in the millions today.

The UK is a real mess. I went back a few weeks ago, everything is so expensive. I have not been since 2015.

Crazy having to pay to park everywhere. Fuel is 20% more than here in Spain. I honestly don't understand how people do it.

Simms possibly but they have said they won't. I do think the reason for raising the money at the time was valid but given the current events it looks over cautious now. I also think given time and the advancement of the construction that some of the funds may be released.

Certainly raising funds by crashing the market for 6 months isn't productive

No I am not trading. I do expect further dilution not immediately and not at the current price. The share price is extremely low and I expect that to change.

Why would I trade this share. It's nonsense trading this. I would trade Atalaya, jet2 or another energetic stock. As I posted last night, this stock is currently dead. There's almost nothing happening. It goes up 0.5% then back down. The spread is constantly moving but making no progress.

It seems some people hold this share even though they hate the CEO and think it's all fake.

I am open minded but when I see stupid I recognise stupid

As I said I fully expect them to raise more cash. It's inevitable.

I am totally lost with the idea that Harry may be lying about all the money raised as contingency for TK not being used for TK. If it is not needed it will remain a company asset, that's why it's contingency. If Harry is lying then they'll need to raise less money for general running costs and exploration.

It's worth noting that some of the day to day costs will obviously be covered by the project as they are directly involved.

Harry says he has 3 people at HQ and the mine will need 100s of people. The bulk of the people in the business are at the mine or in the field. Those at the mine work for the TK money.

I assume then that you aren't a shareholder currently. I would not hold a stock knowing these things.

If you are trying to convince me then you are wasting your time.

Running a micro exploration company and running a large construction development operation are two very different things.

He said the money raised was exclusively for TK, I am not going to second guess that until Harry says the risks to the project are no longer and additional funds can now be utilised. Just 4 weeks ago he said it so until I hear something else that's it.

They have specifically said the fund raise was contingency for TK and not for general running or exploration. Harry said exactly that on the 8th April.

Ultimately only the management knows the risks in TK and where having extra funds can speed up delivery or guarantee hitting targets.

I don't know what "other non-ownership dilutive capital structures" actually means apart from debt.

I suspect as they have bought Jeff back for exploration that they will be hitting exploration hard. It's a goldrush now, a race to find the next big fish before the others do.

They could easily splash $10m in 12 months just kicking rocks

Given the uncertainty and the looming summer cancellations I would expect them to be retaining cash to see them through and take opportunities as others fail.

We have cancellations from flights around 4% in May and 8% in June. Nothing for July but it's inevitable it'll be higher.

Whilst reports on fuel reserves are useful they are grossly misleading. Storage tanks can't be emptied and must retain 15% or collapse, pipes have to remain full even when. Pipe load and storage load makes up almost one third of the remaining volume.

We have seen so far most cancellations from Germany and Italy but the UK is coming

DeeDee getting it won't be a problem as Ethiopia has a supply and this project has priority access. The issue is like 30 million litres a year. Fuel is substantially cheaper in Africa than Europe but it's definitely going to be costing more today than before trump started this stupidity and thngs like that are exactly why the extra funds were raised

Indeed there will definitely be more funds needed. 100%

I hardly think the placing was unnecessary. I suspect Harry has a much tighter grip on the execution of this project than any shareholder. Clearly at the start of the war a massive risk developed that has since abated a bit because the conflict is contained. Without financial flexibility they would have no option but to delay which would destroy the budget and confidence. Diesel seems to be the only risk factor, millions of litres are required for construction.

The strike price was at a ridiculous discount and it followed the classic retreat, bounce and flat line. However as it moves further back from that point and construction moves on it has far less of a drain and the extra cash becomes a positive factor.

Harry needs to find some energy and excitement for sure. He has said they have a succession plan.

H1 2028 production ramp up is much more likely. Batch samples and first gold pour Will be Q4 27 according to Harry. H1 2028 we'll see some commercial production during ramp up.

Today 0.43% of the shares in issue were traded. Of those I suspect many of the same shares were traded on Friday and will be traded tomorrow.

My point being that at this level I don't think we are really seeing much in the way of people exiting or arriving.

When you look at the patterns it's clear to see several occasions where shares were bought in one or two trades then sold at a fractional higher price on the next cycle. Some are split into multiple A trades in the same second so an "on exchange" trade rather than at quote.

This behaviour is causing any genuine interest to be lost in the churn which is like bottom feeding behaviour. The market seems very keen to mop up these on exchange orders as they influence to be share price immediately. I have created a few and immediately the price changes to embrace or defend.

I have in the past 5 days purchased a sizable holding and despite the number of shares in issue I have multiple times not been able to buy anything over £10k. When I did it was because there was a sell prior.

It tells me that it won't take much to move this in either direction but the momentum upwards could be created very easily.

What we lack at the moment is a catalyst.

So in summary I suspect 99% of shares issued are in firm hands at this price. However the majority of the shares are in nominee accounts suggesting many non institutional holders.

I watched a vid of Harry from last month were he says about a main market listing early next year. This is my opinion could be transformational for the level of awareness and interest. Harry specifically mentions his opposition to duel-listing after the emed Mining experience in Toronto.

Ok. It's not showing on mine yet, maybe it's not updating.

I can just see these

11-May-26 16:35:11 1.294 2,500,000 Buy* 32.35k O

11-May-26 16:29:54 1.294 29,257 Buy* 378.59 O

I added around 1m shares today. I am almost full now.

No UT today from auction just a nice 2.5m buy.

I would be interested to see your maths. Prior to completion of funding and regulatory hurdles I would agree. This project is substantially de-risked now. The construction is well underway and long lead orders placed. It's going to happen 100%. I think the current share price is around half of fair value

The questions now are on-time? On budget?

There's nothing extreme here, elevation is manageable and local rainfall is moderate. There's so many risks with building a mine. So many on this are mitigated.

Look at the projects at Endeavour in West Africa with the same contractor and many more challenges.

Cjm I don't see much selling at all. Clearly there are traders, their patterns are easy to see. Matched sizes on A trade sells in the same second adding up the earlier buys for slim profits.

I guess the question is, If it went to 1.55p right now would you sell or would you feel more encouraged that you aren't completely mad.

The traders would bag a quick profit and move on. I suspect there's a handful of those making up the bulk of the trades.

Personally I have a substantial holding now and it's taken 5 trading days to get without running the share price for traders to dump.

It's frustrating for sure that this isn't properly valued right now at 3 to 4p but I wouldn't have bought if it were.

This path to production is well trodden. It's best not to think too much and to sit back with the thought that the engineers at Lycopodium are the best, the project is fully funded and early 2028 they will be producers at Africas best gold mine

The story can't move forward without funds. They have spent $100m getting TK this far. Now it's on the verge of realisation and massively de-risked.

Come back in 2 years at 10p a share and moan about it then.