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Based on all interviews and Harry tenacity to deliver proper in Q4 with financial close from equity investors and project start I am expecting bank credit signoff to be end of this month or very close to it as he stands by Q3 timeline. Once that happens Harry said rest is procedural. I am banking half the $90m of sweat equity we have in project on credit signoff and the other $45m on equity close so all those expensive pina coladas in Cyprus over last 12 years will all be converted into out 70% ownership of $390m project. Mad really as we stand around £30m. Just that should take us towards £130m in equity and nearly half way to Harry valuation without even a sweat. £300m seems very achievable as he said smaller junior explorers in Saudi valued at over $1bn so while we are on the bombed out AIM market that is part of the sinking LSE ship if we could pivot to Saudi we would be quids in. Would love to top up again but up to my ears in Kefi and more than i should but these companies only come along once every few years where the chance to 10x is almost expected over next 12 months if we get TK away and some focus on JQ and Hawiah. Kefi has been an unmitigating disaster for long termers but lessons learnt i am sure but for me seeing the MOM head praise Kefi and banks doing somersaults to sort issues over last weekend we have the ears to the top so its getting to the point almost hard to imagine this not happening as MOM would not have stuck his head out praising Kefi. couple of weeks and we could be 1-2 p+ for starters.
‘Attractive valuation – Market cap is ~USD36m. Gold reserves at Tulu Kapi alone are 1.05m oz and attributable company-wide gold equivalent resources total 2.3moz. Bearing in mind that Tulu Kapi is permitted and ready for construction, with bankable feasibility study, and given expected low operating costs, the potential upside, on valuation considerations, is substantial.’
HtTps://www.goldforumamericas.com/program-agenda-gold-forum-americas/
KEFI Gold and Copper Plc
Ticker: L:KEFI
Presenter: Harry Anagnostaras-Adams, Executive Chairman
Webcast: goldforum.info/?play3135
Sep 20 9:30 am MDT
Https://www.goldforumamericas.com/company-profile/503/
Harry did mention he he was in America.
hi tenacity is what makes me believe this project is going to happen.
https://www.***************************/kefi-gold-and-copper-should-be-a-300m-company-interview/412998543
this is the first video i watched when i found kefi, he believes we will be worth £300m. they have the gold and more on the way. just needs time to start the build, worth a punt for me.
I actually admire his tenacity!!
Imagine!
Too much time,money and effort has been spent over the years and the prize (Tulu Kapi launch/producing)is far too lucrative to be abandoned now imo.
Looks like H is about to deliver finally...
Https://www.wionews.com/business-economy/us-saudi-arabia-are-in-dialogue-to-secure-metals-in-africa-report-634827 (Saudi mining)
https://www.zawya.com/en/wealth/alternative-investments/saudi-arabia-aims-to-boost-private-investment-in-mining-to-46bln-report-q7yjj2ak (Saudi mining)
https://constructionreviewonline.com/construction-news/500-million-earmarked-for-a-two-phase-development-plan-for-ethiopian-kurmuk-gold-project/ (Ethiopia mining)
https://www.ena.et/web/eng/w/eng_3331457 (Ethiopia mining)
Similar to the visit of the Australian Assistant Foreign Minster, an Ethiopian delegation led by Mines State Minister Million Mathewos attended the Africa Down Under (ADU) Mining Conference held in Australia to promote mining and mining services opportunities for Australian companies.
“It was really a great opportunity to showcase Australian mining investment potential, but also the expertise that Australia has in mining and mining services. I was very proud to be able to show the opportunity presented by Australian companies to the Ethiopian state minister,” she elaborated.
https://www.afdb.org/en/news-and-events/press-releases/ethiopia-african-development-bank-approves-104-million-funding-improve-power-supply-eastern-ethiopia-64304 (Ethiopia/African banks)
https://alliedgold.com/ (Ethiopia mining)
13-Sep-23 16:30:37 0.685 7,850,000 Unknown* 53.77k O
HtTps://tbestlaw.com/ethiopia-allows-offshore-accounts-for-strategic-fdi-investments/
Extracts
In a significant and bold move to attract strategic investors into Ethiopia and generate new foreign currency inflows, the National Bank of Ethiopia (NBE) has issued Off-shore Account Opening and Operations for strategic Foreign Direct Investment Projects (Directive No. FXD/86/2023)...
The Directive defines strategic foreign direct investment projects as PPP projects in power generation and infrastructure, large-scale mining projects with substantial export earning potential, and other FDI projects to be designated by the Executive Management on the strength of the size of investment, job creation, import substitution, foreign exchange inflows, technology transfer or sector specific impact of the FDI projects.
The Directive allows strategic FDI investments preferential treatments in three distinct areas, namely:
– opening of off-shore accounts;
– currency convertibility guarantees; and
– enhanced debt-to-equity ratios...
Chart says breakout coming up ! Fingers crossed for a ‘good’ morning !
Strange how the sp has been sticking to 68 to sell 69 to buy all a bit fishy
Hi Pedro I'm contemplating buying some today as there's good news on the way. ;^)
From what I see,this is totally undervalued......i am contemplating a top up...
Just caught up with the latest update. Very comprehensive and one of Harry's best imo. I thought it must be good having read many positive comments on the bb, but even better than I could have hoped. Folks will look back in 2/3 years time wishing they had taken the opportunity to fill their boots at sub 0.7p. Won't last long at this level imo given the anticipated newsflow/decision making process expected for the rest of this year (and beyond)...
Apart from Ethiopia probably have more idea of when we get the Jibal Qutman upgrade if the market can see two gold mines going ahead..
Harry says "The equity was put together at the subsidiary and project level."
How less dilutive?!
What impact will be on the sp?!
Sounds very positive...Any guesses on s.p. going forward?
Part 2
That’s the big one to be honest because that two thirds of the capital the toughest capital is banks the toughest due diligence in that sense (Basically if you can convince the banks..) and the Equity piggy backs (other investment in the project follows) o the bank work. The equity was put together at the subsidiary and project level (less dilutive than parent company level) is pencilled in (most of the work done) some of it finally formally approved some of it informally some of it in principle approved (everyone want to get this done and in the process of getting it done) but waiting for any conditions from the banks final approvals from the banks everything so they can finalize their approvals (sounds like other consortium members just waiting on some rubber stamping from the banks for their sign offs) the we will be launching next quarter (Credit board approvals this month then launch).
We are launching in the next quarter as best I can judge, we are mobilizing into the field at the end of September (obviously expect final board and credit approvals before the end of September then) and preparing the community its all falling into place.
(Interviewer) anything else to add?
(Harry) The key point is Ethiopia has quite markedly turned it been a tough gig for some years for a mining company in Ethiopia also in Saudi Arabia where we have operations also both countries have turned over the last two years and now particularly this marked change in Ethiopia where regularity obstacles are being removed at a rapid pace (Ethiopian government and mining ministry helping the company) and the industry is starting to line up (mining industry taking off). That Allied deal is very interesting to me because if I am not mistaken it’s the largest equity raise for any gold mine globally this year (anyone know of any deals bigger?).
That a big deal it shows you that the markets are there for the right projects and the right countries and clearly north American investors have turned onto Ethiopia that’s a good sign it augurs well for kefi and kefi very patient very long supportive shareholders.
My comments in brackets
htTps://www.proactiveinvestors.co.uk/companies/news/1026342/kefi-gold-and-copper-ceo-highlights-new-regulatory-ticks-in-ethiopia-1026342.html
(Harry) I am not in Ethiopia I have family in Ethiopia they and they staff are celebrating the Ethiopian new year (https://en.wikipedia.org/wiki/Ethiopian_calendar) I happen to be in the US but it’s a big day in Ethiopia.
(Interviewer) and a big day for kefi and Ethiopia as well we had some big news recently from Allied gold (see my previous posts) and some more progress at your TK project could you just give us an overview of those two bits of news Harry.
Harry Ethiopia has a wonderful production at an artisanal level for millennia literally since the days of the pharaohs in Egypt however lets call it the modern industry has not arrived yet its now arriving (Kurmuk gold, KEFI, Kenticha, Allied gold Akobo minerals) because of us and one or two others busily preparing to launch their projects as well. I suppose its coincidental today the company referred to Allied announced a equity capital raising in the stockmarkets in north America (https://financialpost.com/commodities/mining/gold-veteran-peter-marrone-emerging-nations) of over 200 million dollars I think to go towards the launch of their project which is a bit furthur west than TK in Ethiopia and on the same day we told our shareholders about some pretty important regulatory ticks if you like especially of foreign exchange controls Ethiopia is launching the industrial modern scale gold industry.
(Interviewer) all understood Harry what do you need to do (kefi) to be part of that new revolution over there?
(Harry) Well we have set it out in the recent updates, the particular points really are that our banks that are putting up two thirds of the capital need to issue their final full approvals those permission can now proceed (looks like final hurdles now cleared with banks) and processes can now proceed on the back of what we announced today (sounds like any hold up was with the banks other parties were more advanced) we were waiting for regularity clearances now we have got them (see previous RNS).
New interview if you scroll down the link page below...
11,650,000 trade posted after market close in the buy column...
Is tomorrow the final approval ?? Or are we to be kicked from pillar to post by our in-house aquisative or hang out to dry experts 🤞🤞🤞🙏🙏🙏🤞🤞🤞let’s hope bouncing around .70/.80 tomorow