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.

Kefi valued at just 10% of its NPV - Broker Brandon Hill

By Tom Winnifrith

8 March 2016 05:07

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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.

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Comments

VINES

8 March 2016, 05:55

after reading this front page news i must call my broker rite now to place a buy order

kefi valued at ‘‘just 10%’‘ of a made-up number its house broker says. cor blimey
Drunken Sailor

8 March 2016, 07:43

“This document is not independent and should not be relied on as an impartial or objective assessment of its subject matter. Given the foregoing, this document is deemed to be a marketing communication and as such has not been prepared in accordance with legal requirements designed to promote the independence of investment research and Brandon Hill Capital Limited is not subject to any prohibition on dealing ahead of dissemination of this document as it would be if it were independent investment research.”

Why do companies waste shareholders’ money on this crap?

All the info you need is in the full DFS:

http://www.kefi-minerals.com/files/files/2015_TK_DFS_Complete_Final_Web.pdf

And subsequent RNSs

Now Gold is above the price used to calculate the NPV, I might be tempted to have a punt, after further proper research ie not reading broker marketing material.