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I think the objective is to try and get the share price up for another huge placing as has been fone many times before.
I note the company was recently saying project launch would be in Q42023 and today's RNS has pushed that out again to H12024. Who is actually going to provide the equity to build the mine and at what price?
Damp squib - another nothing RNS to try to push share price up ahead of a placing - if its conditional it ain't final - there has been conditional approval for literally years !!
This is the MIP basically done and approved whilst Harry is in Saudi!!
Would not be surprised if this opens very high and we smash 1p+ taking us onwards and upwards!!
GLA
I can smell the retirement!
Today is the first day of the transformation of Kefi over the coming months as reality takes hold that TK is happening and lots more news incoming. Today we stand at a mere £30m market cap but we are at point of landing a £390m finance package of which £320m is debt. Huge upside for all investors as we build momentum over coming weeks. Valuation should start to head towards £250m and especially so with news coming from Saudi projects due in coming weeks. Could be many RNS updates over next period. Well done Harry for the tenacity to stay the distance and onto the next chapter of Kefi history.
Here we go!!! Come on! This is it
We got it. This is what we were waiting for years. 1.2p today for a good start?
H1 2024 launch
Basically, everyone is going to buy whats left before H1 2024 for a multibagger?!
Even the dog is getting sold for leftover kefi shares.
The best part is multiples of the current SP!!
This is it, what else can the guy say or do?!
At least an 8-10 bagger here IMHO!!
GLA
Great news indeed, depending on what 'conditional' means. On what?
But sounds like everyone is champing on the bit to get going, I guess lots of work is about to kick-off. Well-done to the tenacity of the KEFI team.
Well done Harry....
( ̄□ ̄;)!!
Woohoo!!!
Bring it on Harry!!
Significant Progress on Tulu Kapi Gold Project US$320 million Finance Package
KEFI Gold and Copper PLC (AIM: KEFI), an early mover and successful explorer in the highly prospective Arabian Nubian Shield, is pleased to announce that it has received confirmation of conditional final credit committee approval from the lead lender for its "shovel-ready" Ethiopian development project, the high-grade Tulu Kapi Gold Project (the "Project"). This followed the analogous approvals from other key syndicate members including lead contractors and lead equity parties, and the previously reported actions by the Government of Ethiopia ("Government") during 2023. Key Government actions include the previously negotiated and reported exemptions from foreign exchange restrictions, commitments to provide permanent security protection and the approval of additional protections for the lenders for the Project.
The receipt of these conditional approvals is testament to the collaborative and long-standing supportive attitude of Project syndicate parties. The entire US$320 million finance package is designed at the subsidiary level, with syndicate members who know the country and are keen to support in our tightly coordinated and safe manner.
KEFI is now mobilising into the field to prepare the community, so far having briefed church leaders and congregations, and distributed medical treatment for the victims of the recent malaria outbreak, via the Tulu Kapi Charitable Endowment. For good order, the introductory presentation made available to the community has been uploaded to the KEFI website and is accessible via the following link: https://www.kefi-goldandcopper.com/expo-presentation/addis-adaba
In parallel with the social engagement programme, we are preparing detailed definitive documentation for signing between the Project syndicate financiers. Full Project launch, including funding drawdown, is on course for H1 2024, subject to the satisfaction of all the standard conditions precedent for a transaction of this type, independent confirmation that the Project is ready for launch from security and community standpoints, and final board approvals of all parties.
Speaking from the Future Minerals Forum in Saudi Arabia, where KEFI has been the technical partner in the highly successful Gold and Minerals SLA since 2008, Harry Anagnostaras-Adams, Executive Chairman of KEFI Gold and Copper, commented:
"The Ethiopian Government and the lead syndicate members of our high-grade Tulu Kapi Gold Project have been working hard to support our Project launch. The Government has recently made strong commitments including approving country membership (a set of protections for development finance institutions) for both of our Project lenders, deregulation of exchange controls and commitment to the preparation of security and our community. These Government initiatives have played a very important supportive ro
Manu why not gift your two shares to Condom Man…..I’m sure he will be delighted…
KEFI aregoing to appoint new CEO.... ?
Noel Edmonds is the front runner. However, as Kefi have had a Mr Blobby type character running it for over a decade, and has caused, in true Mr Blobby fashion, nowt but mayhem (to the share price)... critics are pointing out that hiring Edmonds is just as bad with his sinister links to Mr Blobby himself.
Meant to be by middle of December, month later still nothing. What is going on? This is getting ridiculous.
That last 1,000,000 sell was in fact a buy. I should know.
Very good presentation I agree. Lot of work being done to make progress and lets hope Harry can finally push this square wheeled vehicle over the starting line this next month or so.
GLA GT1
Thanks for the info robjm66
Bunion I am a Shareholder 2 of them but I’m trying to get rid of them 😂😂😂😂😂⛳️🏌️♂️
TheCondorMan.....What is your agenda ?....Small window of opportunity now left to get in before news.....Stop your ridiculous attempts to scare people into selling....get in now before the news....You know it makes sense!....You know you want to!
All great to see. Counting down go the sign off. Ethiopian government need as many dollars as they can to service debts so they are working as hard as Harry to get TK on the road to generating billions of dollars of gold exports. Cant be much longer but 18th webinar should be a big one if this all falls into place. Happy to wait a week or so. gla
In Ethiopia, uncertainty is the word for 2024. The country continues to grapple with crises in Tigray, Amhara, Oromia and Somali region. It is also on the brink of another war with Eritrea over the Pretoria agreement and the Prime Minister Abiy Ahmed’s brutal approach to Ethiopia’s need to secure access to the sea. The recent MoU with Somaliland has already created a crisis with Somalia.
Ethiopia is also facing an unprecedent economic crisis and religious tensions.
Regional tensions are also likely to continue between Ethiopia and Eritrea, with the risk of an open conflict following the declarations of PM Abiy that there were “historical and legal mistakes” that deprived Ethiopia of access to the sea. There are also reports that Eritrea has been training the Amhara militias known as the Fano.
theeastafrican.co.ke/tea/news/east-africa/2024-comes-with-dangers-opportunities-in-greater-east-africa-4485232
Tut tut misleading headline and old news the bank which is not one of Kefis African banks (AFC and TDB) is withdrawing from Ethiopia its international staff not withdrawing totally from Ethiopia.
Clear you put the headline up to make people think one of the African banks involved with kefi was pulling out from kefi deal while the real situation is the bank had nothing to do with kefi and was only withdrawing its international staff.
Congratulations you have reached a new low TCM.
The Condor Clown who has stated before that he doesn't go on telegram and yet the same old article was posted there just minutes before he posted it here?
Karma will deal with you and all those who post with their hidden agendas!
Cont..
Because they were in a dark hole, not at some police station in Addis Ababa, there was an alarm once they couldn’t be traced. The beleaguered AfDB fellows called their chief, Akinwumi Adesina. He is a man who has direct lines to presidents, so he called Abiy (in photo Adesina and Abiy in Addis), and the two were released.
They were taken to a UN clinic for treatment and days later evacuated out of Addis Ababa. This latter story of their abduction, being blindfolded, and thrown into a dungeon is likely the truth, because it rises to the level of the traumatic experience that would lead the victims to want out of Addis on the next plane, and to scare the AfDB enough into withdrawing its international staff.
These pan-African institutions like AfDB, the African Union, and others, have a high pain threshold working on the continent. It is called the “This is Africa thick skin”. You have to work very hard to send them into flight.
The incident also gave an unexpected glimpse into PM Abiy’s fragility. That something like that could happen, and he could only intervene after the fact, suggests that he might not be the undisputed king of the Ethiopian hill.
-Charles Onyango-Obbo X@cobbo3
Cont..
One of the most revealing accounts of the incident was by .
@neby_G
. - “The arrest and attack was done by the security guards of the
@MoF_Ethiopia
after the 5.2 million dollars of Ethiopia’s yearly contribution to the bank was never deposited to the bank instead ended up in a bank account in Panama. When the Ethiopian director of .
@AfDB_Group
made it clear that the bank still hadn’t received the funds, he was arrested and physically attacked. When he decided to take all his foreign staff and leave the country out of safety concerns,
.
@AbiyAhmedAli
and the finance minister Ahmed Shide showed up at his house to convince to stay only for him to recognise the Finance minister’s security guards as the perpetrators of his arrest and attack. He refused to stay and has left the country. An “investigation” has been opened by the
@MoF_Ethiopia
to find the whereabouts of the 5.2 million dollars”, he wrote.
New information now suggests that Kamara and Bukenya committed the sin of being diligent and persistent. The two had been sending regular reminders to the Ethiopian Ministry of Finance to pay capital share contributions that Ethiopia had pledged in 2019.
However, the Ministry of Finance had been making the payments, except not to AfDB. It was making disbursements to an account listed in an email purported to be from the AfDB. It had wired $6 million (not $5.2 million) to that account. It turns out, according to these claims, that the account was somewhere in Mexico (not Panama). In any event, whether in Mexico or Panama, the money ended up in central/south America.
The beating of Kamara and Bukenya, therefore, wasn’t a result of an argument in the lift. It was premeditated. As the good folks of East Africa say, they had stepped on some big people’s plates, and needed to be discouraged from pursuing the matter further. It was, ultimately, a fool’s endeavour for the crooked Ethiopian officials, because the money wasn’t owed to Kamara and Bukenya’s private estates. Many fellows in Abidjan would see that it hadn’t landed on their account.
The latest accounts also allege that the incident didn’t happen at the Ministry of Finance. Kamara was reportedly waylaid at his gate in the dusk of Addis Ababa as he arrived home after work.
He was roughed up there, blindfolded, and thrown into a car full of armed men. They drove away with him, and after about 30 minutes, dumped him in a dungeon. Shortly after, Bukenya, who had been subjected to the same treatment, was also brought to the dungeon. Bukenya would likely have recognised it quickly as what Ugandan official torturers euphemistically and contradictorily call a “safe house” back home.
Bukenya was allegedly later taken to his home, where his captors carried out a thorough search, and confiscated laptops and phones. All the receipts, as it were.
cont..
AfDB ‘Crisis’ Reveals Danger of Chasing Crooks in Ethiopia – and Abiy’s Achilles Heel
(A news version was published as “$6m Fraud Enquiry at Centre of AfDB Staff Assault in Addis Ababa” in THE EAST AFRCAN yesterday: theeastafrican.co.ke/tea/rest-of-africa/-6m-fraud-enquiry-at-centre-of-afdb-staff-assault-in-addis-ababa-4472938)
Pan-African premier lender African Development Bank (AfDB) on Wednesday announced it was pulling out all international staff from Ethiopia, following a "serious diplomatic incident" in which its staff were attacked by security officers.
The Abidjan-headquartered lender said that existing Ethiopian staff will continue working under its employment contracts and their Ethiopian office manned by an officer-in-charge. International staff will work remotely in the meantime.
The AfDB's decision followed what it called a "breach of diplomatic protocol and assault" by Ethiopian security officers on two of its international members of staff, who have diplomatic immunity, in Addis Ababa on October 31, 2023. In addition to the assault, they were arrested, and detained for hours without charge or any official explanation, the bank said. The assault was carried out by security officers at Ethiopia’s Ministry of Finance, during a visit there by the AFDB’s Deputy Director General of the East Africa region also Country Manager Dr Abdul Kamara (in photo, before and after the assault), and another bank staffer.
Ethiopian Prime Minister Abiy Ahmed had to personally intervene to have the two freed. Various reports say the attacks were engineered by a senior government official at the Ministry of Finance, who was annoyed with the nagging of the AfDB staff over accountability for some disbursed funds.
Many aspects of the incident remain shrouded in mystery. With snooping around, more details are beginning to emerge. The second AfDB official who was beaten up, is John Bosco Bukenya, who was Principal Country Programme Officer.
cont..
Step up from the usual kefi presentation and good to see the emphasis on the local community.