277 days ago
In today’s Bearcast I discuss Jaya’s birthday and the Woodlarks Christmas appeal. Please donate to that HERE. Come on you can all afford a fiver can you not? Then it is onto Hotel Chocolate (HOTC), Celadon Pharmaceuticals (CER) – still a short – Verditek (VDTK) , Canadian Overseas (COPL) and Kefi Gold & Copper (KEFI).
381 days ago
‘arry Adams has dropped me an email abut the progress made last week. He says:
481 days ago
I am not saying it would or should but given that it is spaffing money on exploration in Ethiopia why isn’t it just buying into/buying Kefi Gold & Copper (KEFI). The answer might reflect badly on Kefi, I just do not know. I also consider Centamin’s (CEY) results. I start with snake barn thoughts. Then it is onto Alison Rose and NatWest (NWG) and Karl Monaghan at Wandisco (WAND) and why I despair about UK PLC and how the great and the good are protected. I consider Rua Life Sciences (RUA) and Great Western Mining (GWMO)
660 days ago
The Ethiopian Minister of Mines, Takele Uma, was apparently sacked yesterday at a cabinet meeting. Rumours in Addis suggest that he stands accused of industrial scale corruption. Well knock me down with a feather.
731 days ago
There is a drought in Somalia. Nobody denies that fact. But the cause? The grifters at Avaaz do not care about facts and are thus calling it out as another symptom of global warming and asking the saps they spam for money, some heading out to East Africa and some to line the pockets of the grossly overpaid liberal grifters at Avaaz. The grifters lead with a touching father and son photo from Somalia and say:
877 days ago
A reader emails about Kefi Gold & Copper (KEFI): “you see how serious, if true, the situation is? So, don’t suppose you can get a response from HAA, since… without clarity before the markets open, shares will collapse 100%“.
1011 days ago
Today we have great news from Kefi Gold & Coipper (KEFI). The Ministry of Mines in Ethiopia, not always the greatest battler for “the cause” has confirmed that Kefi has until July to secure funding for Tulu Kapi and get the project underway. I know that Harry Adams is dotting the “I”s and crossing the “t”s on the funding now and expect an announcement within the next couple of months, if not far sooner, that funding is secured. That will drive a big re-rate and I am a very happy holder for that reason. But what of the mystery of the $1 company?
1028 days ago
Shares in Kefi (KEFI) are a tad weaker today on bulletin board speculation that the Ethiopian Ministry of Mines has removed the Tulu Kapi mining license and awarded it to a recently established Hong Kong based company. Treat this as a buying opportunity for it is fake news- that is what you get from reading BBs. Here is what has happened. I have spoken to folks on the ground just now.
1280 days ago
As first reported here on Sunday, there seems to be a certain amount of argy bargy in Ethiopia which some have taken to threaten the Tulu Kapi mine owned by Kefi Gold & Copper (KEFI). Yesterday, Kefi said that it had received no letter indicating the mine was under threat but overnight a statement appeared on the website of the ministry of mining.
1283 days ago
There is a report in the Ethiopian press that Kefi Gold & Copper (KEFI) will receive a letter threatening it with the loss of its Tulu Kapi asset. The shares will slip on Monday and an RNS will be needed. I’d use that as an opportunity to average down as I have a company statement and I have also chatted at length to Harry Adams.
1477 days ago
Earlier we outlined why on fundamentals Kefi Gold & Copper (KEFI) was such a strong buy. But one reader asks ‘are the natives not revolting out in Ethiopia?’
3180 days ago
KEFI Minerals (KEFI) has announced that the Tulu Kapi Gold Project in Ethiopia could be expanded from the initial 115k oz pa to around 150k oz pa by developing the underground potential of the project. Broker Brandon Hill ( house to Kefi and therefore so partial as to be ignored completely) says that the market cap of c$15 million ( at 0.4p) compares to a revised NPV of Kevi's share of Tulu Kapi of $150 million.
3876 days ago
My fave libertarian Tory blogger Charlotte Argyle is in fine form once again. The child of Thatcher rightly points out that capitalism not aid is what is needed for both donors and recipients. Over to the pin up girl of Tory blogging:
It starts with a chap called Mr O, an Ethiopian Farmer who claims that the £1.3Bn the UK has sent to Ethiopian in the last 5 years has done nothing more than fund a despotic government which has enacted great atrocities on his family and livelihood by using brutal force to annex land and property from hundreds of native villagers to sell off to foreign investors or add to its own little stash of Government chattels. Just to put our ‘good deed’ into context Ethiopia is among the biggest recipients of British aid receiving £38 million in July 2011 alone.
This simply serves to exposure the huge lack of accountability and traceability on the behalf of the do-gooders at DFID when it comes to ensuring that OUR money goes to the right source. It also magnifies the dangers around minimal foreign intervention without a serious approach to risk. To prove my point, imagine the blushing faces last year as DFID had to admit to the National Audit Office that it did not know in which country £530 million of aid was spent nor why a country like Nigeria, which is flourishing into an emerging economy – with the second highest national income of all African countries still receives £275 million from the UK in 2013 and will receive a further £250 million until 2015. .
So now we have Mr O set to sue the UK Government for hundreds of thousands of pounds – taxpayers pounds, in the name of DFID breaching the Department for International Development’s (DfID) human rights rules (yep breaching their own rules). But here is the best bit, some kind London lawyers (Leigh Day to be precise) have decided to help Mr O taking on the case on his behalf and have already served papers on DFID .
As they feel it is necessary to point out - Mr O is not seeking compensation but challenging the Government’s approach to aid – Well thanks Mr O but I think that slimming down of our ever gout-ridden state letting more people keep more of their own money may have the same effect. One has to wonder how much Leigh Day are set to make on this little case though. Imagine the headline "Ethiopian gets legal aid from UK - to sue the UK for giving aid to... Ethiopia"
DFID’s complete lack of action
4051 days ago
I am barraged on twitter by folks challenging me to watch a video that shows that Israel is a nation of black hating racists and then to defend the Jewish State. I do so willingly because this is a crude and manipulative piece of propaganda which will be used by those who loathe Israel if not just all the Jews. It needs to be exposed.
The video appears on a website (The Electronic Intifada) which purports to give you “all the news from Palestine every day”. Hmmmm. So I see plenty of stories about what the wicked frigging Jews are up to. What about the 171 million tonnes of aid sent by Israel into Gaza last month? What about the rockets fired onto Israeli schools? What about the gays buried alive in concrete by Hamas in Gaza? I guess it was a busy news day/week/year so not time to give us that news.
So we start with the FACT that the website relaying this video is not exactly 100% balanced in its coverage. You can link to the website and that video HERE
The website then bleats about how the New York Times refused to run the video. It “did not dare”. Hmmm. Is that all part of a global Jewish conspiracy or perhaps just because it is grotesquely misleading? Those bloody Jews they control everything don’t they? Come on, I am sure you know that the frigging Jews run all the media. And the banks.
Well done the NY Timesfor not running a video which is, at best , crap journalism and, at worst, vile propoganda.
The video tells the story of the 60,000 Africans who since 2006 have fled all the undoubted miseries that lie in Sudan, Ethiopia, Somalia, etc. and “with the European Union having closed its doors to illegal immigrants have gone to the next best place, Israel.” Jump forward and the next scenes show Israeli politicians saying they will deal with the “infiltrators” and some Israelis making openly racist remarks about the Africans. We see Africans in camps. Natural conclusion: Israel hates the blacks. Those frigging Jews they have learned nothing from the Holocaust and just hate darkies don’t they?
Except that this is not actually the whole picture. Rewind to the 1980s
