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The first mention of 'conditions precedent' some years back was accompanied by wording that they were standard conditions for a project of this size
Kefi now acknowledges it was effectively impossible to have moved to the start line of credit approval until the national bank had revised their forex rules and regulations, a non-standard condition. And NO mention of it until it was actioned.
The narrative then became that Kefi was instrumental in the amendments taking place.
Thanks for the charts Swazers.
MRPlumper - I don’t believe I prophesised about the timing of any rerate… please don’t put words in my mouth.
We’re waiting on the rest of the finance package to fall into place, which is both positively positive and welcome, given the balance of evidence suggests this is in fact now happening.
That is all.
I was re-doing and redrawing some charts and #KEFI has caught my eye. The TA is suggesting some bullish intention at some point soon, IMO. I have attached a few of my charts. I am not invested nor hold any financial interest in this stock. I have been charting it for years. https://www.tradingview.com/x/3dMEhj9i/ https://www.tradingview.com/x/W079Yazi/
Looks like the inmates have taken over the asylum again.....
Final credit approvals is what they’ve been repestedly saying will happen for over 4 years.
each and every time deadlines have come and gone, and the fat aussie makes up more rehashed promises... and mug punters swallow it hook,line,sinker. No different with latest b/s dealine.
remember it was supposed to have been done /dusted by Dec end 2023? how the ramping lemmings were trumpeting that deadline... it was nailed on the way they were ramping the aussies words. what happened?
now they are doing it all over again with this new aussie b/s timeline. bunch of clueless losers
Pretty sure there’s loads of buys registered as sells this afternoon: my buy at 13.42.57 @0.665 listed as a sell.
Forget Long Covid.. KEFI has it's own version that lingers; Long CondorMan
Plump pivot moment the second bank sign off “within” a month other things are already happening in parallel see previous post. If the banks are happy do you really see any other member of the consortium having a problem?
Hotstocks ? lol.... a complete and utter garbage stock picker... their kefi tip is down 99%.
'the final sign off will never happen. 100% sure of that.'
CondomMan makes another bulls hit statement. How can you possibly be '100% sure'? Are you linked to the Banks or the Gov't? of course not, just a sad peep with nothing useful/productive to do during the day....
Rob
It's not signed until its signed
Did Harry say this morning that the signing could be three months away
There's one thing I will say this is going to be a cracking share to trade if the company ever gets the paperwork completed
From Hotstock rockets
“It is also emphasised “the entire US$320 million finance package is designed at the subsidiary level… The targeted value-add from project implementation is many times today's KEFI share price… whilst also addressing our highly prospective exploration pipeline in both Ethiopia and Saudi Arabia”.
Plump basically between the market cap and the share price there is a huge disconnect just on TK and that's before you even get to the Saudi side.
You shifting your position so yo now see this going ahead?
Sharezy
What makes you so confident that there's going to be a big rise to the SP after sign off
Time to reap the rewards soon.
Wonder when the penny will drop…
as opposed to "sees no holdups" ?
which means there are holdups... not matter how less than fundamental they are.
he's been saying the same****** for the past 5+ years....
just one example, in sept 2019
“all parties are completing the last-minute actions for next month’s start of the 24-month development schedule to achieve full production in 2021,”
that "last minute" has turned out to be "last 2.5 years and counting".
year in year out he's been bigging it up like he has this week. result = naff all happens.
the final sign off will never happen. 100% sure of that. harry will eventually walk or show the door for the abject failure he is
Https://www.proactiveinvestors.co.uk/companies/news/1038206/kefi-gold-and-copper-sees-no-fundamental-holdups-at-tulu-kapi-1038206.html
All good....
😀
Harry is laughing his ass off and he will be when this gets fully funded, gold is looking strong today, already have the main banking syndicate approved just waiting on the second one and we're away after all these years, now it's a time to get in.
One of the reasons I invested was that - taking the emotion out of it - HAA presentations distract from the content of the presentations - the numbers and the reality of the direction of travel (slowly towards the prize). I don't feel one way or the other towards the man. I believe he's been around long enough to make this happen, and I think it's been harder and taken longer than he ever imagined. He's had to "stay positive" and remains so - or it would have all fallen apart. Ironically, this which has grated so much is in the interests of existing shareholders, as opposed to the opposite - even if taken at face value it causes so much chagrin. I fully empathise with early investors here (at least the ones who fully grasp this reality and take it on the chin.)
As with a lot of harry short interviews have to get past the delivery and actually look at what is being said..
“The government has made a number of important changes to the laws and the rules and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.” Basically the rest of the consortium were already happy just waiting on the banks.
“so those three things are happening now in parallel to allow the whole project to go proceed in a few months time
“there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open.”
Harry talking about full go ahead before that obviously will get the second bank go ahead then followed by a stream of go ahead by other parties.
As for Saudi its all good basically so much money washing around Suadi chasing not many international miners that “it will be quite easy to move forward without reliance on capital from outside Saudi.”
Part two
(Interviewer) do you really thing a few months time is realistic considering there are all those moving parts?
(Harry) There are no fundamental obstacles..we know from experience that the first transaction in a country that has suffered turbulence has been vulnerable to delay..what I am projecting there is things going reasonably well not as fast a they could possibly go but no major holdups what is.. important is that there are no fundamental hold ups there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open. I could not have said that a year ago we had to push hard but now the door is wide open.
People want to get on with it we have all invested years shareholders have invested money even all these syndicate members have invested time and money…when the stars align you should go (for it) and that is where we got to.
(Interviewer) lets look at Saudi now..
(Harry) In Riyadh..it difficult to convey the difference between the atmosphere in Riyadh and Saudi and almost ever other jurisdictions in the world for mining you walk around most jurisdictions you walk around most jurisdictions full of ideas and ambition but not a lot of money chasing it Saudi is the opposite a lot of money chasing mining..we are amongst the head of the pack..we have assets in feasibility studied for development and a large pipeline of exploration assets it is refreshing and uplifting.. I feel very confident..the ability of kefi to leverage of fifteen years work in Saudi Arabia.. and the sovereign fund and other Saudi capital providers wish to pursue our vision is a comforting feeling.. I feel very optimistic that once we select the preferred scenario for each of our projects..it will be quite easy to move forward without reliance on capital from outside Saudi.
It what you actually say..
Part one
(Harry coming from Riyadh)
(Interviewer) we are going to talk about your work in Saudi a little bit later Harry but first some news out of TK this week.
(Harry) Yeah pleasing to report an important milestone..we were ready to get credit approval a few years ago then we suffered the frustration of turbulence in Ethiopia.. so we had to batten down the hatches and keep the syndicate together and now we are very fortunate and pleased that that we are getting on with it now.
The government has made a number of important changes to the laws and the rules
and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.
(interviewer) anyone who has been keeping an eye on kefi in the long term Harry will know there are quite often these procedural breakthroughs..but what does this news mean today?
What it means we have triggered three things in parallel to start up the full construction in a few months time..one is preparing the community..we did not want to give them a false start or false hope so we waited for this moment before going out there and sitting with each one of he households explaining what it all means to them, it is compulsory resettlement but nevertheless its important that it is done properly..that's one thing in parallel the approvals of the secondary parties the lead bank approved now the others follow.Those processes we feed as well and the third thing is the detailed documentation… so those three things are happening now in parallel to allow the whole project to go proceed in a few months time as a total package.
I’m heavily invested and fully believe this will happen.
That aside - and listening to the latest proactive interview.. it is 100%… “Rewind-Play “ …. As with all the prior and similar interviews..
Harry’s credibility left the building a long time ago in fairness he is the ultimate master of ‘over promise & under deliver’
He should absolutely take the kudos when this happens, and then have the good grace to find someone genuinely believable to drive this forward.
I have run out of patience with the monotone diatribe that always falls way short.
Bring in the new
No, no, it'll be "wait for the disater/bad news/scam/HAA fail" all the way through to production...*
*Probably. I filtered him.