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Harry could be playing this out beyond this year to grease a cheap T/O through IMO
I do not care if that the case but i just hope next placing is above 0.20p levels
Balance of funding 90million dollars from Africa Finance Corp due shortly……then all you negatives will be swept under the carpet……time for a final top up at these silly prices….
Some posters here seem to believe that the second bank is going to use the due dilligence conducted by the first bank.
Highly unlikely.
Firstly, the second bank won't have triggered their due dilligence process until the first bank was in place in the funding syndicate becasue without the first bank there would have been no syndicate.
Secondly, due diligence is a detailed process of verifying the significant facts to a level of certainty that one can absolutely rely on.
Thirdly, the notion of using another institution's due diligence is for the birds. An organisation mught replicate some of what other lenders have done but it will have it's own risk management process and credit approvals committee. It will need information which it has validated for itself. Their credit committe might have different questions that it wishes to answer to the first Bank prior to making a decision. Therefore the due diligence of the second bank wont necassirly be a duplicate of the the first bank's.
Finally. If the second bank had withdrawn or refused credit then this would be a notifiable event.
Slow/ imminent/ bloody irritating. It is what it is. I believe we are still headed in the right direction.
GLA / DYOR.
I've sacked TW. Never again
PLEASE, never again use the word I M M I N E N T
HAA said that two year's ago
This whole thing is fast becoming a joke.
Gold price up $400 since December.
Not worth a bean to us.
Production now 2026 at least.
If you have his contact details then i'd ask him?
Are his details available to the general public?
Perhaps TW will let us know what is going on?
Any news like that about the second bank would HAVE to be rns'd.
I'm sticking with the second bank being useless....
Nice to see gold maintain last weeks rise, now the Chinese are back. My buy here is shown as a sell! We just have to be patient.
SB - probably or may be the 2nd bank has gone (for whatever reason internal or external) and HAA needs to be find an alternative? Our world famous CEO HAA is dragging this as much as he can.
What the triggered, HAA's action in Ethiopia? Minister of Mines threatened to pull the licence. Thats when HAA truly acted. Until then it is all waffle as he is doing today.
RAB tried to.. but couldn't see the light at the end of the tunnel.. sold and moved on.
Until the shareholders demand answers from HAA or demand him to quit if finance is not sorted by Jun-24, I can't see much in KEFI... look at where the SP is, people are so fed up they are selling below the last placement price.. incredible. HAA must go, if he can't sort out the finance by Jun-24
I'm about where you're at Mafs.. for me that's a significant investment - I'm not a high roller by any stretch.
My niggling doubt remains - The lead bank credit committee approved their piece on the 10th January, and here we are (3 long months later) with a second bank syndicate member (relying upon the same DD, done at the same time) STILL unable to make a decision. To me, that smells off.
I'm sure we'll get some form of indication shortly... but Jeeeez it's very, very painful (like everything else with HAA's name on it)
I assume the update HAA flagged up in the RNS release on 19th Feb. as due in the last quarter will be imminent. As he said in the Investor Meet presentation, the Saudi assets will dwarf those of TK.
Ethiopia finally moving towards getting its finances sorted:-
https://www.mofed.gov.et/blog/ethiopia-signs-172-billion-usd-financing-agreements-with-the-world-bank/
Https://newstimeber.biz.id/ethiopias-dollar-bond-hits-two-year-high-on-imf-bailout-optimism/ (Ethiopia general)
https://www.2merkato.com/news/trading/7763-trade-ministry-aims-to-boost-ethiopias-forex-earnings (Ethiopia general)
https://www.spa.gov.sa/en/N2079420
(now includes gold)
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Eligible applicants must also possess a valid exploration license under five years of tenure, requisite expertise, and a proven track record in greenfield exploration. Under the program, investors are required to submit their work program applications by May 31. Successful applicants will be announced by July 31
Agreed Rob… this will generate its own momentum once that second bank gets over the line. It is taking a long time..
There is a huge amount to look forward to, and it will speak for itself when the brakes are off.
Why investors should put up with no delivery and fat salary?
It is a time for someone start explaining what is going on? For how long this BS should continue?
Longer this takes.... longer Harry gets paid.... and fatter his bank account balance in Swiss account.
I warned everyone what is ahead ....
Years ago
Question the board and question why deliveries has been non-existance for years so poor... lots of hype and promises which they never been delivered
Delays after delays
No investigation
No prospects
No products
No results
No nothing
Someone needs to answer ......
2330!
Now thats a line mafs - "This is a Multibagger in the making and there is nothing anyone can do to change that"
lets hope thats right else youll be a world of pain! (and so will I but im used to it)
Https://www.kitco.com/ gold just broke through the 2300 mark
"The Company can now report that all the other parties in the funding syndicate, have advised they will this month go to their respective committees to approve the proposed transaction.
The Ethiopian Federal Government also attended and reaffirmed its equity capital investment has been fully documented, committed and already partly invested.
The contractors in the syndicate have all reaffirmed their intention and readiness to enter into the already-drafted definitive documentation to enable full Project launch in H1 2024 as previously outlined.
The Company is pleased with the long-standing collaboration with all parties involved and the current intensification of effort flowing from the Government's key positive actions towards the end of 2023. The priority is to continue demonstrating safety whilst we implement the remaining, mainly administrative, tasks which are expected to be successfully and swiftly completed. We will provide regular updates."
RNS - 13TH FEBRUARY 2024
Delays does not mean will not happen.
How many companies like PREM banged on about EPO for decades and everyone laughed.
Then it went from 0.03p to 1p - the painful LTH's had the last laugh in the end.
A few have sold and their lives can can testify to whether waiting 10 years was worth it. They're millionaires by the way - many on paper.
Mr snowking who still has not sold his holding is in for the term as is James Goozee.
One guys held Kodal from its 0.04 days and sold at 0.70p - he's got a very nice Green lamborghini, very nice chap too.
Are these guys all flukes? They're special and lucky gamblers?
No, they stuck with it through thick and thin and came out retired in the other side.
Fast forward to Kefi:
- $1bn worth of in ground gold value - CURRENTLY without resource expansion
- One of the richest and well known Saudi companies JV for our Saudi Mining projects. This will be bigger than TKGM
- Saudi exchange news will be pivotal and open up company for multimillionaire Saudis to hop off their camels and get involved with Kefi as a side project
- $320-390m finance package that's been struggling to lift off, is finally coming to a close - why is it different from before, because its progressed ever more than before - awaiting last bank to sign. It is illegal by law to publish false information, so we are very, very close
- Project launch by June/July 2024
- External finance companies suggest a guide price of 6-9p per share. We are at 0.55p
This is a Multibagger in the making and there is nothing anyone can do to change that.
I have nearly 10mil and adding more.
AIMHO
GLA
RAB wasn't a real institution, just a small private investment company with a chequered history run by a handful of guys. I looked them up at Companies House when they sold the first chunk. Better than nothing, but not a big name.
That’s ok SB but likely to be irrelevant why I post here as soon not going to be able to that often as it simply takes too much time and energy. Apart from following what the gold price is likely to do you have the Saudi mining sector taking off in big way which means the news there is constantly expanding and on top of that kefi being in Ethiopia means you have whole African mining angle. I could probably research about eight mining stocks in the time it takes to research kefi or just research gold in a tiny fraction of the time.
Will try to hold on till second bank sign off or kefi takeover or JQ DFS or even bigger gold price breakout some turning point after which its going to be pretty irrelevant what anyone says but if a job offer pops up will have to concentrate on that and maybe pop occasionally back to see how rich everyone is ;)
Genuine curiosity.. nothing more.
Thanks Rob. Some of your posts are relevant and helpful, grateful for those.
Some are however, hugely left field and grasping at straws for the sake of it.
IMHO… good luck
Thats just me being honest.
Rob has been here and on ADVFN for a long time and posts useful info for those who don't have time to dig.
He also gives an excellent update service on webinars for free, no subscription needed.
I have been here since my first purchase of Kefi in July 2011 when I came for the investment in Saudi and the geology of that area, I think Rob was here then along with HB another long-term investor.
Keep up the work Rob and stop upsetting Harry at shareholders' meetings.
Still peddling that trash. Eh nm.