No market love for Kogi as iron-steel project ignored, page-11

Chiller

kfe is down exactly 90% from when I joined and roughly 99.99 % from when I was ousted.

the steel plant option has gone sadly, as the world will no longer finance carbon generating project (wrong headed in my opinion as supplying steel and thus electrical grid to nigeria would be a net reducer of carbon emissions due to reducing use of charcoal) - but, at such a low value there is still a return to be had from the iron ore. You have a good in country team, you have a big (but complex) ore body, you can export ore (with some upgrading) and for a company with a market cap that anyone could buy for a tank of petrol there is a return on equity too be had.

forget the madness in WA - it was always a canard to distract shareholders for a while, classic lazy board just picking up something to keep shareholders quiet to keep the gravy train running. The value of Kogi was and is the agbaja project. Kogi will never develop it - too much historical messing about. But someone else could. Might be time to find a competent JV partner with no fat sweaty types.