The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Will be writing up the webinar as usual this Wednesday but..
htTps://www.kefi-goldandcopper.com/files/presentations/kefi-20_may_2024_quarterly_webinar_presentation.pdf
Net Cash Flow from Tulu Kapi US$1,415M** over 9 years for US$157Mpa (100%) ▪ Net Cash Flow to KEFI US$126M* p.a. (£99M) from 80% of Tulu Kapi* ▪ 3-project aggregate production expected to grow to >338Kozs (Au Eq) pa from 2027
And
US$20M TKGM share subscriptions from Federal and Regional Government
So kefi share now confirmed as is the amount coming from Federal and regional governments and all parties. So all parties in agreement.
Rubbish comment - but shares certainly in demand
Some people never learn. They get carried away with an RNS and follow the sheep and keep buying at mid to late 0.80's on the expectation of getting to 1p.
Yes. Follow the money.....but when the money has landed first.
I was expecting more from the share price today. I was looking at an opening bell with around 2p considering the RNS. I am sure the company was disappointed that it did not go anywhere near as the warrants being expired since 17th May. Could that RNS have been posted to lift the sp because of that.
One thing about these RNS's is that they always have "blurred lines."
Completely agree. Most PIs lose money, and it's not hard to see why.
Some people on this board are beyond clueless and shouldn't be allowed anywhere near the AIM market, especially miners.
I was expecting more q
@ TheSecretTrader - exactly.
Having read and re-read the last few RNS's re. TK Project launch it is quite clear - despite all the years of waiting - that it is still early days for this project.
Today's RNS says the 'closing of project financing' will be concurrent with the 'early works until September 2024' which I guess means the finance could be held off until the end of September?
Assuming that all goes ahead then - as stated in the previous RNS of 13th May - they are " are focused on the Tulu Kapi Gold Project launching in mid-2024 for production in mid-2026".
They have announced formal Project Launch today, the financing still seems a little uncertain to say the least, and if that does happen we won't see first production - and revenue - until mid-2026.
Early days. Anyone sharp enough this morning (not me unfortunately) would have sold and run off with a profit or bought back later & lower for a quick profit take.
As much as we all hate to say it, Manu17 is right - no money has come in yet.
Investor Presentation on Wednesday may shed more light, further news could land any day, more patience required.
GLA.
WELL, we had an RNS and it certainly kick started the sp. Unfortunately short lived. Not enough meat on the bones to sustain momentum as we can see by COP.
It seems, it was a knee jerk reaction by investors that first impressions of that RNS was that finance was sorted, which does appear opaque and the sp rose accordingly.
Remaining signature from the 2nd bank is needed.
This will occur following a site visit (I'm assuming to inspect the security and policing which we have been told is done).
Site visit and signature occurring this month.
It's very simple, you don't announce project launch unless it's a done deal.
Fukutu
In a word no nothing has been signed but nobody on here especially the rampers will tell you.
This will blow soon , rude not too :)
Hope it doesn't get sold. I'm in this for the long term dividends year after year for at least 7 years. Which should be around the current share price annually. My aim is to retire off this, not take a quick buck. Buts lets see what happens.
Yep, lots going on behind the scenes....
With a current valuation of only £45 million.
Kefi are a total sitting duck. Just sit back and hold. £££££££££££
Thanks Nick as for all the posters that are trying to talk the price down having missed out getting back in recently sometimes it does not pay to be too greedy or too clever.
TOTAL confusion by many investors today.
Has it or has it not been signed?
The Market has once again shown what it thinks?!
Investors must now be reflecting on what has really changed from yesterday.
Not surprised it has sparked some buying.
Or that it’s brought out the trolls 🧌 that have predicted 300 of the last 3 placings 🤣
We’re getting money from finance…
The enterprise value is far in excess of the current share price.
Think I’ll keep my shares for now 👍🏻
Followed by 3M!
Very good bearcast by Tom Winnifrith.
As previously announced, Kefi have received expressions of interests for involvement in Tulu Kapi. TW obviously doesn't know for sure but he was an insider and has good communications with HAA. He reckons there is a high likelihood of a farm in for say 40% of Tulu Kapi for say £60m or higher at some stage this year. That would mean cash of £60m plus a valuation of the remaining 40% of Kefi's stake in TK of another £60m or more. So £120m value prior to production for TK plus Saudi and the cash to accelerate and expand in Saudi without placings. In short, if this happens, as appears highly likely, then there is the prospect of a share price between 2.5p to 3p this year based on cash received and the value of the remaining stake plus Saudi. Obviously this can be impacted by the gold price as well. He also indicated there is likely to be further Saudi news coming reasonably soon as well.
Given the strength in the gold price and the attractiveness of Kefi's assets I could see an early outright bid as well. I don't think HAA would seek or encourage this as he probably wants to see this through to production and as TW points out he is respected in Ethiopia and he may feel some loyalty and responsibility to see this through. The fact is that he might not get the choice if a reasonable bid comes in. Aside from the interest detailed in the RNS about TK interest he's already said in a previous webinar that he is getting plenty of approaches from all sorts of parties at various conferences in Saudi.
Apart from the launch of the project?
Nothing has been signed... or has it??
2,000,000 shares - just now.....
Great - thanks for letting us know
When it was up 20% today. Will buy back again if it should drop tomorrow as AIM stuff often does.
You're right Simms, we're now 50% up in the past 3 weeks. Great for LTHs and more to come as the project continues to be dersiked. Gold above $2,400 is a real bonus (copper at $10,600 too). There will be those carping from the sidelines hoping folks here will lose money. So sad.....