AIM-listed Kefi Gold and Copper (KEFI) announced a progress report
from Tulu Kapi this morning. A quick scan of the missive threw up two things for
me: firstly, that all is on schedule (big tick)…..but where did it say all was “on
budget”? That minor little detail was missing, something which catches the eye
when investing on AIM for it is not what they say, but what they do not say
that matters. Happily, all is well….
What a choice. I'd bet on neither. But with a gun to my head...
Between now and 28th July you can win a week at the Greek Hovel paying just a cleaning and pool fee – by explaining in 300-1000 words why if you had to bet everything on one share on a three year view what that share would be. To see how to enter go HERE and PLEASE KEEP SENDING IN ENTRIES. Twenty sixth up is Edward from Ulster
Between now and 28th July you can win a week at the Greek Hovel paying just a cleaning and pool fee – by explaining in 300-1000 words why if you had to bet everything on one share on a three year view what that share would be. To see how to enter go HERE and PLEASE KEEPS ENDING IN ENTRIES. Twentieth up is Chris the Greek
In an AGM statement Kefi Gold & Copper (KEFI) Executive Chairman Harry Anagnostaras-Adams states early “in Ethiopia the Tulu Kapi gold project is about to enter month 4 of its 27-month development schedule… The Saudi operating entity is 13%-owned… has discovered and reported an aggregate in-situ metal value of approximately double that which is currently reported at Tulu Kapi” but later admits the company “clearly under-estimated these historical challenges and for that I take much of the responsibility”. If so, why has 'arry been awarded such huge bonuses? That, for which he does not apologise, suggests his words are meaningless.
There are many folks out there who are also asking whether the Pope is a Catholic. But I give Harry Adams the benefit of the doubt. Even after today’s bombshell news from the AGM, I come not to bury Harry Adams for he is an honest man. However…
My man at the AGM says that trougher Harry Adams has just ‘fessed that 42% of votes cast were against the approval of the Annual Report. This is just massive.
I flagged up earlier today that Stifel is begging folks to vote for bad corporate governance at Kefi Gold & Copper (KEFI) where I am, of course, a loyal shareholder. It has prompted me to contact my broker, the dinosaur, and to vote myself.
Recently appointed as joint broker and advisor to a main market listing by Kefi Gold & Copper (KEFI), Stifel Europe has sent an email to investors begging them to vote for shockingly bad corporate governance. Luckily that email has fallen into the hands of Winnileaks and I publish it below.
There is actually some hard data out there so I am not completely guessing. Kefi Gold and Copper (KEFI) shares are today 1.08p. My pal Lobo Tiggre analysed the performance of 124 gold miners going back to the 1980s and looked at their share prices from start of construction to first gold.
Kefi Gold & Copper (KEFI) has issued an announcement including that “following the launch of development at the company’s Tulu Kapi gold project, tasks continue to be implemented on schedule” and that it “has now signed the project’s largest operational contract, the mining services agreement, with BCM Group”. Good news!
Kefi Gold & Copper (KEFI) states that it “is pleased to announce the appointment of Stifel Nicolaus Europe Limited as financial adviser and joint broker to the company and to provide a Tulu Kapi development update”. This is good news.
Tom Winnifrith has already commented on today’s news from Ariana (AAU) and Kefi (KEFI), along with Union Jack Oil (UJO). I have no
interest in the last of these but Ariana and Kefi give me some pause for
thought. Should I change my attitude to both?
The executive chairman of Kefi Gold & Copper (KEFI) has no idea quite how much ordinary shareholders who have risked their capital despise him and his cronies on the board. The last time a Kefi director actually bought a share was in 2022. In 2025 I’d wager that Harry "trough" Adams enjoyed a total package of more than $1 million and it will be even more thus time around. Just to rub salt into the wounds after diluting we mugs by 25% with a placing he said just 10 days prior was not needed… its option time.
It has been a tricky few weeks for Gold Bulls – especially those
into Gold stocks. So far my holdings have held up pretty well but some have suffered
more than others. As I look to rebalance my portfolio towards larger players
and get a little more diversity, I wonder if I should be taking advantage of
the current malaise in a bigger way. And there are two stocks in particular
that I wonder if I should be trimming.
Kefi Gold & Copper (KEFI) has issued a “Saudi Arabia Update”, noting its joint venture projects progressing in what it considers “one of the most prospective and rapidly developing mining jurisdictions globally” but to which its financial reporting currently assigns nil book value. It is though now “taking independent advice on the 'fair market value' of its 13% holding and is also in consultation with its auditors as to the appropriate carrying value on the company’s balance sheet”. But that is all balance sheet window dressing and we doubt that Mr Market will give a damn.
Kefi Gold & Copper (KEFI) has held a General Meeting in Australia with Executive Chairman Harry Anagnostaras-Adams also making a statement. Er, but ’arry the company is listed in London with projects in Ethiopia and Saudi Arabia!
The convicted felon Lord Ashbourne, aka Charlie Gibsonhas published a new note on Kefi Gold & Copper (KEFI). His employer is paid to publish so bear that in mind but Gibson does, usually, know what he is talking about.
I finally bit the bullet and offloaded a small amount of my
oversized holding in AIM-listed Kefi (KEFI). I’ve still got too much – and,
indeed, will have more than I started with when my 1.2p shares arrive,
apparently on Thursday. So I’ll be looking to offload a bit more as I look to
continue to rebalance my Gold portfolio. And that brings me to a share I already
own, but now have a bit more of.
