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Have to laugh at some of the comments here and wonder if they saw the same webinar. First Harry is proud of the company and his team. Would not say Harry gave a lawyers answer he straight batted everything and gave as much detail as he could. As for TK closure he said that they had just got the thumbs up from the banks a half an hour ago over what was being discussed and should be able to crack on more with the final credit and board approvals which were being worked on from which everything would flow.
His not stuck between a rock and a hard place just the company is being meticulous in clearing up anything that could cause a problem down the track.He was actually doing the webinar from Australia where he was flying the flag for Ethiopia a with a mining minster from Ethiopia.
Thanks for your comment Catbert you seem to have some idea how these things work.
Questions
Q Funding situation for TK final action points?
A Fine print of central bank issues being put in place progress this week so approvals should start to flow.
Q Resettlement?
A Chopped up into stages not all settled at one step plenty of equipment ready to be mobilized in the country lot of building in Ethiopia.
Q Another press opportunity like umbrella agreement?
A we will take every opportunity we can that’s reasonable to do so.
Q JQ in production will be first what percentage kefi have
A It might be and percentage (long answer probably depend on a couple of things whether it closer to 25 or 27 percent ROBJM66)
Q Wet season?
A all flows from credit approval.
Q Saudi listing?
A Kefi like rock stars kefi have spent time on this fair to say the JV will look at possibility we will build a mining house with Artar.
Q If any of the banks refuse credit approvals?
A banks have invested three years they are in Ethiopia toady..they are serious about the project they are development banks that have Ethiopia as a member if it did happen there would be no shortage of people to step in.
Q gut feel for bank sign off.
A Not respectful to a banks to give time but banks were happy to fly to the country to sort things off.We all want to launch.
Q board approvals?
A Main thing shareholder when will we finish, company will not budge till every thing is perfect but moving into documentation stage now. Government determined to get this done, we are in the first for the queue for mining.
Q sell any of the projects?
A you know everybody in the mining world but everybody is looking for the best deal the best way to optimize is to deliver would not get a good price for projects at this time.
Q furthur funding in the short term.
A have facilities to see us past closing of TK.
Q Business plan.
A yes we have business plans for projects.
Closing comments
Harry, people to new to company..we lost time to regulatory issues but carried on and no we can make it happen now everyone climbing on band wagon there will be a remarkable change in perception of the company.
Thanks to the people that have hanged in here with us and welcome to new shareholders.
…
Well only a rough and ready transcript come summary but think I got the gist of most things. What was new is the company has just received a good report from the banks harry said in the last half hour. The pace does seem to be picking up meeting going on with all parties even when harry is not there.
Everyone is serious about this and wants to get it done.
Webinar
Will be the usual quick and dirty write up then a better version later
Start
Harry will walk-through the presentation then take questions
htTps://www.kefi-goldandcopper.com/files/presentations/kefi-africa-down-under-conf-pres-sep23.pdf
In the thick of closing finance at project level.
Started in Saudi Arabia red tap held us up but that's history now it a hot sector..largest exploration two discoveries..good team..14 licenses granted last year..strong partner.
Ethiopia even more of a turn around. Delay due to turmoil in country we are there in the forefront, minister said the kefi was at the forefront of the mining industry in Ethiopia. Arabian Nubian shield world class and kefi charging forward on both fronts.
Big upside to kefi as it derisks it projects (corporate overview slide).
Other mining companies arriving we have the projects that are first in the queue for development.
The introduction of democracy in Ethiopia triggered changes in Ethiopia..
Why Saudi now slide? Really stable the past regulations slowed things down.
TK in closing procedures as we speak and lining up finance in Saudi as well.
Pipeline of projects second to none in the private sector in the region.
Market cap to Npv slide gap will narrow. Peer group comparison slide..derisk.
Syndicate structure slide. Not whether will develop but when we will stop expanding JQ to develop.
Project status slide in the thick of closing procedures three critical hurdles for banks now cleared country membership, the security and the foreign exchange controls, granted now getting down to tin ticks intense process kefi go between been challenging but we succeeded, after meeting this week and company just received a summary report from the banks all thumbs up.
Made good progress this week that will contribute to board and credit sign off everything flows from that and preparing the community already.
A lot of detail company most tick all boxes before release of capital company was in Australia showing the mining minster around. Expanding team ready for launch of TK.
TK great starting project great economics.Things being signed off independently. A big amount to raise for TK compared to the amount raised for mining on Aim.
Drilling for ore body believe there could be a million ounces additional down there (TK).
Hawiah going to keep growing Saudi stock market taking Amak billion dollar company..JQ string of pits..just exposed another VMS system at Abu Salal.
Kefi has been discussing this project with these lenders for 3.5 years.
They have negotiated all of the preconditions that these banks required.
https://en.wikipedia.org/wiki/Development_finance_institution
Although this isn't a rubber stamping process it seems that the worst outcome at this stage would be that one of the banks adds some additional criteria to their requirements which although possible seems unlikely given that they've had 3.5 years to set these.
Furthermore the project itself has an enormous significance for the development of both a major economic sector for the country and also for foreign earnings of a nation with a tremendous growth potential.
In many regards the financing deal is a political as well as an economic decision which should hugely benefit Ethiopia.
Understanding how development banks work and what they do is critical to understanding where we stand here.
GLA DYOR
As usual not impressed this is a long way from happening even if the money comes in imho in never will with everything going on in Africa.
AIM mining is on its ars—-, good luck to everyone 🥸
Did that ANS money ever come in 🤔
I like Harry, but I get the impression that with Ethiopia he's stuck between a rock and a hard place. My take is that one of the Saudi projects will receive financial sign-off first and shame the Ethiopians into pulling their finger out.
It's going to be like buses - probably 3:l projects receiving full funding in a row!
GLA
Yet not prepared to give any detail…. Still far too condescending and slippery for my liking - my average is similar and I hope you’re right .. but we are still none the wiser really
Indeed it does. For what I am seeing and hearing here , Harry seems very confident of sign off . I have got no warning signals of it not happening . Im a long term holder here and rarely post but I average 1.5 p and am confident of a good return this year .
… and Q3 ends in 3 weeks
Thanks for correcting Topman - I wasn't sure if I heard it correctly..
No Q4 was for the start of the project.Q3 for finance sign off
So he has every right to feel proud for further delays? :)
Harry just gave a lawyer's answer regarding Q4 Tula Kapi financial closure. Make of that what you will?!?
Did I hear that correctly, Q4 for finance closure? :)
HAA is very proud... but I don't understand why? :) deliver the finance and you can feel as proud as you want..
HAA is very proud :)
😂
Sorry, but I couldn't resist it.
Cheap shot Forrest..
I think to be fair Harry is composed and delivering well..
Looks like Harry's dyed his hair. Might be a start of a new era, or is that haira!
Dv I’m playing late afternoon can’t miss his live performance 🎭 it’s very entertaining 😂
Manu, I'm also very much looking forward to today's progress report. I don't think I'd be rescheduling my round of golf though!. You could always catch up tonight like me.......
Https://twitter.com/InvestorMeetCo/status/1700071555265388664
Thanks UPshunt
I’ve had to move my Golf Tee time so I can watch his performance 🎭 😬
Some of have to work so we can have some spare cash to keep loading up with Kefi Shares, try to sympathise with the afflicted.
Hope you double your money with your two shares.
GLA