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Edited
*down straight away.
I have a feeling that retail investors won't get the opportunity like the last one. Just as well considering what happened. They would havre been straight away :-(
How is HAA going to milk shareholders more when the last placing caused the share price to crash well below the placing price? So say he tries to raise a £1m at .45p then immediately the share price will slump to around .3p, why would anyone buy in at .45p. I can hear the magician saying 'wait and see'.
A lot of chatter about further placing(s).
I for one would not want a placing to be diluted any further, as we have had a few already. Looking at the RNS it is all good news. Of course, we have the 'elephant' in the room in how are we going to fund the Arabian project(s) but this was to be expected.
We will hear soon enough :-(
Some of bought into this company years and years ago with the Exec promising to dig up some gold by Xmas. It's actually very cruel to promise children Xmas presents and then take away the presents they were give the year before.
I voted against the last round of fund raisers as I believed we needed to do some mining and not just obsessive drilling anywhere there is Nubian Shield, but apparently over 90% shareholders, probably mostly retail like me don't know how to put pressure on HAA to dig gold.
No-one actually *likes* placings, but if you really can't tolerate them, don't buy into a company which doesn't actuallly make any money yet!
Hawiah
-- Ongoing +60,000m infill and expansion drilling campaign continues to yield positive results
-- Drilling programme is designed to upgrade the Resource classification to allow for further Ore Reserves definition as part of the planned 2024 DFS (“2024 DFS then mine construction)
Results of the drilling programme to date have been encouraging, with the deepest drill hole in Crossroads Extension intersecting over 7.5m wide (Estimated True Width) of mineralisation at 750m below surface, representing a 230m downdip extension from previous deepest intercept (HWD 222). Assay results are pending; (230 downdip so expansion of the deposit)
evaluate the potential for alternative processing routes such as SX/EW or the Albion Process which, if proven to be of merit for this project, would further enhance recoveries; (potential of increased grades)
At the nearby Al Godeyer Exploration Licence, infill drilling has been undertaken to build and expand on the maiden Al Godeyer MRE with the aim of increasing the Al Godeyer resources to 2 million tonnes. Assay results are pending. (Nearby so can be rolled into Hawiah development waiting for results)
Abu Salal EL (located 50km south of Hawiah) (waiting for results)
htTps://www.segweb.org/SEG-2023/Program/Themes/SEG-Conference/SEG-2023/Themes.aspx As for the conspiracy theories makes sense on one level to get the news out there so it can be talked though at the webinar and the presentation was given on the 29th and you have the second webinar to consider.
"Notice that the presentation on Saudi was given on the 29 of august looks like a dry run for the Analyst webinar."
Yet another red flag about a possible placing?
All the signs were there, we just had to look for them. Having rose-colored tinties doesn't help.
Notice that the presentation on Saudi was given on the 29 of august looks like a dry run for the Analyst webinar.
Part1
Comments in brackets have. https://www.kefi-goldandcopper.com/files/presentations/jibal-qutman-gold-project-pres-seg-london-conf-29aug23.pdf
Gold and Minerals Co. is a JV between Abdulrahman Saad Al
Rashid (ARTAR) and KEFI Gold and Copper (kefi senior party and provides most of the money)
Two major discovery projects at Hawiah (29.0Mt Cu/Au VMS)
and Jibal Qutman (700koz+ orogenic gold deposit), both of
which are in feasibility assessment stages with JQ targeting
construction in 2024. (construction in 2024)
Jibal Qutman is a typical orogenic ‘mesothermal’ shear hosted gold deposit. (https://www.mindat.org/glossary/mesothermal_deposit)
Jibal Qutman
-- 13,000m drill programme completed ahead of updated resource estimate
(Drill programm completd waiting resource upgrade)
Trenching and diamond drilling ongoing to identify additional resources
(the resouce is still growing and expect more ersouce upgrades after the next one)
Completion of metallurgical testwork on Oxide Ore
-- Metallurgical testwork on fresh ore is ongoing with Phase 1 of the fresh testwork completed. (a large chunk of the work done to work out the grade from the drilling but a bit still to be done)
Additional metallurgical testwork, designed to improve gold recoveries from sulphide ores has commenced; (improve the percentage of gold extracted from the rock)
-- Project capital costs estimates well advanced and project implementation planning initiated.
Following completion of the Mineral Resource upgrade drilling, exploration has immediately been stepped up for additional nearby resources:
-- Completed initial sampling of dumps from extensive artisanal workings over the past decade which indicate the existence of gold-bearing structures warranting follow-up; and -- Commenced trenching and diamond drilling of prospects close to the planned open pits. (should be possible to create multiple JQ the string of pearls mentioned by the company before obviously tthe old artisanal working gives a clue to where further deposits are.)
was delivered at the Society of Economic Geologists 'Resourcing the Green Transition' conference in London on 29 August 2023. (https://www.segweb.org/SEG-2023/SEG-Conference/SEG-2023/Home.aspx)
(looking at the conference maybe the biggest interest was in the Hawiah deposit with its copper)
The SA funding issue concerns me more after today's RNS. The TK delays have forced Kefi's hand a lot sooner than expected. As usual shareholders will pay in the end.
No one wants to sell-off a mine with good potential unless prudent to do so.
We need to see how quickly the SIDF can be set up for funding? As this was not mentioned so far as I could see in the RNS.... where else does the funding come from? Oh yes of course the down beaten shareholders!!!!
Standard AIM spiv distraction tactic. "Don't look here, look at that shiny thing over there!"
Then after the placing a month later, "thanks for the cash, now beat it."
Here's one for the Q&A.
Q : If these Saudi assets are so spectacularly good, why isn't all that Saudi money sloshing around buying and developing them double quick?
A : These Saudi assets are not spectacularly good. They're not even commercial. They're s4*te.
Harry, did say something along the lines of having a smaller portion of the pie but on a bigger scale or words to that effect.
“More important to get them up and running in the short term.”
Sixnoughts - it’s never going to happen, short, medium or long term. To my cost, this is a playbook that’s actioned time and time again with African explorer companies who see the UK investor base as a place to get free money - for them its just a case of how long you can string the story out for before you get rumbled.
I would say have you read and understood the RNSs and presentations but that would be a stretch. Do not worry though i will work my way through them using small words for you.
I suppose that with an addition 2 mines coming onboard, so five in total. they could sell to raise funds. They would be unwise to do this considering the potential as losing our percentage would be a big loss. Having said that, having a smaller percentage but higher revenues in the future is the way forward, I guess. More important to get them up and running in the short term.
Robjm66 more positive new lol
Ramper fantastic
Any money come in yet ?
It looks all good but should have waited till people had absorbed the news from yesterday. I get the impression it is half the update really done the work but waiting on the resource upgrade
Jibal Qutman
-- 13,000m drill programme completed ahead of updated resource estimate
-- Trenching and diamond drilling ongoing to identify additional resources
-- Completion of metallurgical testwork on Oxide Ore
-- Metallurgical testwork on fresh ore is ongoing with Phase 1 of the fresh testwork completed.
-- Submission of ESIA Scoping Study
No mention of SIDF funding?
IF we arrange funding at project level, surely that would lesser our percentage?
What's the alternative, eh?
Was there a bit of forward selling yesterday
Let's see what happens today
That statement was mentioned quite early on in the RNS, well spotted.
Is this why sp being held back?
We don't need to read far into the RNS for this:
'Project capital costs estimates well advanced and project implementation planning initiated.'
Is this is a sign of a placing coming to keep our percentage in SA?!
No mention of any other means of funding??
Fundraise!
When? Was there ever?
Looks like the normal "pump" to me prior to a fundraise. Become predictable. Invested but not hopeful. Praying for real progress soon. Every time I average down if drops further. Now it's just a waiting game for me. I'm amazed how active this board is.