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RNS....placing @ 33p

lse:kefi

#21

Personally I cant see the price drifting too far over the next 2 months - only because they’re aiming to ‘close’ all the financials by end 2017. In one of the interviews Harry said he wasn’t too bothered about the remaining 20 mill and that they’d get ‘the best deal from the best people’.
As I understand it, and again I hope I’m right, everything else is just about finalised with preliminary preparations for the ground works already underway in anticipation of all the finances being completed.
This anticipation alone should help buoy the price - as I’m sure it will jump when they make that announcement.
I think they’ve already had offers for the outstanding monies but are looking for better partnership deals
I’m not ramping this, who’s going to take any notice of my opinion anyway? but my logic is quite simple and it’s that the price has dropped to low 4s/ high 3s about 4 times in the last 12 months and I think that support is more likely to remain than not with their target date being so close.
Anyway I bought a few more in the week, fully aware that if the final deal is not closed when supposed to - then indeed there will be some slippage in price but I’d rather that than top up after a positive RNS and a jump in price.
I think you’re correct in thinking that the chance of using areas around TK is a vote of confidence and somewhere Harry said that the government were pushing hard for further exploration in tandem with the mine development - and as you say, that prospect might be something that they’re looking to include in the final finance deal, I guess that would be icing on the cake?.
I’m sorry that I’ve not been able to bring anything new to the board but as I said before - all the info is out there and you seem to have it pretty well covered.


#22

Do not think you are ramping think this share is unrampable anyway as it is so undervalued any boost would start to get nearer a realistic value. Think you have already bought something to the board and it is reassuring that someone else thinks the same way. The advfn board is the main discussion board for Kefi but i keep things ticking over here in the anticipation that Kefi will one day become fashionable.

That kefi partners are engaging in preliminary work is as you say encouraging.


#23

Topped up @ 3.6p


#24

Share Prophets put a link up from Cantor Fitzgerald… 27/11/17.
They claim it was only meant to read by institution investors very bullish.
Helped give me the courage to average down again ( St Andrews day buy ) @ 2.73p
As with all AIM have to hope no placing in in the background .
Just after my buy e-mail from hot stocks rocket suggesting " short term financing disappointment buying opportunity "
That might of put me off as not sure how trustworthy TW is.


#25

Think TW has or had some kind of family trust with kefi shares guess that could colour his objectivity on one hand but shows his confidence in kefi coming good eventually on the other.

As for how good a TW tip is most peoples view is likely to depended on whether they have lost money or not on them. Worth reading his views as he probably has good access to kefi board but also worth reading peoples views who are more negative on kefi on various boards even if (as i do) you disagree with them.


#26

posted on advfn bt cutandpolished61

KEFI Minerals ? legal success outweighed by financing disappointment. BUT…
By HotStockRockets | Friday 1 December 2017

If you like this, please share this article using the buttons below

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Good news from KEFI Minerals (KEFI) with an announcement that the Federal Supreme Court of Ethiopia has dismissed its potential liability regarding an inherited claim for damages. However, the shares currently remain depressed following a project finance update…

On the legal claim, despite it having been based on the impact of exploration field activities which pre-dated KEFI’s Tulu Kapi gold project involvement, the company was still liable for $0.6 million. It adds ?if another appeal is raised, which remains a possibility, KEFI would defend its position on the basis that it remains firmly of the belief, on legal advice and as previously reported, that it has no contingent or actual liability?.

The shares are though currently down despite also that the project finance update announcement commenced; ?KEFI Minerals confirms that it has made considerable progress towards finalising the US$140 million infrastructure finance lease facility for the development of the Tulu Kapi gold project. Major milestones achieved included the documentation having been lodged with the Ethiopian Government for approval and the Ethiopian Minister of Finance and Economic Development has formalised budget approval for the Government to proceed with their construction and investment roles for the project?. The issue looks to though be in the following paragraph;

?The proposed financing structure has been refined in response to soundings with potential investors in the listed bonds and the placing of the bonds is now expected to commence during Q1 2018, with drawdown expected soon thereafter conditional on equity capital subscription. The c. US$20 million residual equity requirement will then be triggered and may comprise, in order of preference, equity issues at one or more of the intermediate, project, or parent company levels.?

This compares to it previously stated, for example, ?the rest of 2017 is expected to be equally busy as we work to close the project financing and move towards development?. The slight delay here and explicit mention of equity requirement has seemingly spooked investors. However, the latter looked already discounted and the company continues to expect project construction to lead to production commissioning towards the end of 2019.

We recently noted an estimated NPV (8%) at the start of construction of $74 million. With the shares now at 3.5p to buy, that compares to a market cap of £11.6 million (currently $15.4 million). We continue to consider that discount far too large and that it will close. As such, we retain faith and the stance remains buy.


#27

well worth a watch

aim0raider2 Dec '17 - 14:41 - 53372 of 53380 10 0
Has anyone seen this?


#28

Thanks for the last 2 posts robjm66, both in my view clearly show/explain that nothing significant had happened or that should have effected the share price so signifantly. The movement in price cannot be ‘blamed’ on shareholders or investors expectations not being met or ‘skitishness’ - The sell quantities over the last week were insigificant and infact the majority of sells were generated subsequent to having 20% illogically wiped off the share price in 1 day followed by another 10% the next.
It’s not surprising that some jumped ship but it wasn’t their sells that generated the drop - it was at the whim of the mm’s over whom there seems to be no control or regulation that makes any sense.
Nothing new there I hear you say - better/smarter folk than you have complained about the apparent unfairness of AIM and got nowhere - true, but I still think it’s amazing that everyone rolls over & accepts this everyday and commonplace form of daylight robbery without a murmur.


#29

Norris107 Always in the interest of mms to exaggerate any swings on the upside or downside and jump on a trend to generate trades. They are also going to be quick to identify shifts in sentiment as well, as they know how a rns is likely to go over from experience.

Having said that they are neutral in the aim casino as long as the punters keep putting the chips on the table they do not care what number they pick.


#30

A director getting off the gravy train before it runs out of Track.

He sold at the top and has taken a salary from endless placings. Well played Pilmer.

Investing in this company is not like going to a Casino, they very occasionally pay out.

The Company confirms that they have received notice today that Ian Plimer, a
director of the Company, disposed of the following shares:

Date Number of Shares Price (per share)

6 January 2011 50,000 8.3p

12 January 2011 800,000 8.67p

12 January 2011 750,000 8.425p

13 January 2011 800,000 10p

Accordingly, Ian Plimer now holds 1,250,000 ordinary shares in the Company,
representing 0.37% of the total issued share capital of the Company.


#31

2011 lol things have moved on a bit since then even in the last year.

2015-06-25 Proper Pasty
?The effective mining of this resource to produce the ever increasing subjective headline grades has always been the key for NYO or KEFI. KEFI have never been able to provide any confidence or third party support for the highly selective mine plan to justify the unreal “head grades”. ?

estseon5 Dec '17 (advfn)

?The closure boulder will start to roll following receipt of the clearances currently sought and that should be early in Q1 2018.

The syndicate will be fully committed before the end of Q1 2018 - ‘no turning back’

“Pre-works” by Lycopodium ($1m already spent) and the relocation will be triggered soon after clearances are received - Q1 2018.

Ausdrill will be given formal notice by the end of Q2 2018 to be ready to commence mining in mid-2019 to build up stockpiles (there is virtually no overburden where the mining is scheduled to commence)

The plant should be fully commissioned within about 23 months of commencement of construction in Q2 2018 with commissioning scheduled to commence Q4 2019.

Note that Lycopodium is spending its own money at the moment and that is part of its equity contribution ($2.5m).?

Would not be surprised if kefi is late hitting a scheduling target that?s a safe bet with most mining companies including kefi. However it?s going to happen or companies like Ausdrill Lycopodium would not be wasting their time or money.

So according to your own argument…


#32

Rob

“Subject to full legal documentation and completion of the finance syndication, both of these major project contractors would then stand with significant shareholdings in KEFI of under 10% each. Lycopodium has granted KEFI the discretion to pay for the first US$2.5 million of its programme of works in KEFI shares, at market price”

So far, there do not appear to have been shares issued to Lycopodium.

Presumably, therefore, within current liabilities (if HAA is to be believed) there is an amount owing of $1 million, which will either be paid to Lycopodium or they will receive 25 million shares (and the whole $2.5 would be close to 65 million shares at today’s market rate).

If Kefi is going to pay for the work it is disingenuous to say that Lycopodium are spending their own money and if it is shares, when is that triggered under the agreement?

Huge dilution for small sums: shareholders need to know, as Lycopodium could be joining Lanstead on the short merry go round.


#33

The post you quote refers to the low grade of the resource and the reality that any company can alter the grade beyond the achievable by playing with numbers " in house".
Of course, " in house" does not cut the mustard in sourcing finance.

Said director sold out on a discussion board pump in 2011 when the company had 300M odd shares at 8p plus.
Today it seems to have a similar number in issue BUT with a 17 to 1 consolidation and some other diluting vehicles in place and at an sp of below 3p the 2011 shares are today at one fiftieth of their 2011 value at least.
So the director was shrewd then and probably shrewder now to disappear.

The resource is a dog. But it meets the current directors needs as it did when it met the needs of previous the directors of Nyota in providing a fat salary and expense account.

As for bringing the resource into production that would bring a risk of ending the gravy train! Why do it?

Better to do as little as possible and dilute and keep bleeding the company dry until the inevitable.


#34

Charliee whichever way you cut it Lycopodiam is spending their money now in expectation that it will pay off down the line.

You could say though it is disingenuous to say that amount will lead to big dilution at present shareprice then say you have no idea when it will be paid in shares discounting kefi will not just give them the cash or do a part cash part share deal.

"Subject to full legal documentation and completion of the finance syndication?
Likely any deal will be tweaked after this doubt that Kefi would give either party more than the ten percent each in shares mentioned in the RNS at the time.

https://www.investegate.co.uk/kefi-minerals-plc/rns/appointment-of-preferred-epc-contractor/201606070700083720A/

Proper pasty see you still think you are a better mining expert than the mining experts. Reams of stuff out there showing how the figures stack up and the mining plan has been constantly refined.

Not only are kefi looking to get TK up and running but use it as a base for other mining prospects in the area. Guess it all a massive conspiracy involving kefi the Ethiopian government, Lycopodiam, Ausdrill and all the independent experts along the line.


#35

RNS … the best i have read from the many involved re- Beaufort mess.
They state nomad and joint.


#36

Amazes me Ripley94 that a broker can go bust its bit like a bookies or estate agent going bust both areas where you would think they have a license to print money and they would have to be truly incompetent to stuff things up.

In the era of Purple bricks, Yopa ,crowdfunding and peer to peer lending maybe we need Diy brokering services. Probably the only thing holding someone back from launching a service is working out what brokers actually do for their money.


#37

2.4p … did not lift day before.


#38

Holding off topping up till there is more certainty over what and if funds needed for working capital purposes before a final deal.

Personally do not doubt that a final deal will be done eventually.


#39

That last message must of been a buy …… 67% rise showing today .
Sold ( D ) @ 4.3p late afternoon on 10am limit… had been even high first couple of hours today I missed it .
Just as well I used patience.
I do not like the new site here really awkward .


#40

KEFI…
XXXX
Its not allowing edit previous post.
want to start adding tag as i do not know what post is referring to on this silly new site.