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Looks to be heading up. Bit of churn but took some more. I think with the finance news due could triple my money here within weeks
I understand your frustrations though, just had a look at the shares your in
Blimey!
Yes typo
When you say ‘get the spelling right at first’
You may want to start correcting your own grammatical errors
Do you mean ‘get your selling right’
Or ‘ firstly get your spelling right’
Plonker!
get the spelling right at first
tsp, they just don't believe 'arry, end of.
Assay results are pending for this hole and will be reported in due course.
This initial intersection confirms that VMS mineralisation is the source of the previously reported 5.5km long geophysical anomaly and that the mineralisation is copper bearing. This builds on the previous exploration work that demonstrated that the Hawiah Ridgeline is enriched in gold at surface with abundant secondary copper showings. Geophysical surveys identifying a strong and continuous anomaly under the ridge that remains open both along strike and down dip.
The drill intersection marks the successful start to the diamond drilling programme and adds further strength to the geological model as developed by the KEFI joint venture exploration team (Gold and Minerals Limited, or "G&M"). This model describes the Hawiah Ridge line as the oxidised surface expression of an extensive VMS system that hosts enriched gold mineralisation within the oxide portion (upper 25-30m) and copper bearing massive sulphide mineralisation below this depth.
The diamond drilling programme is designed to test this geological model and the geometry of both the near surface oxide gold mineralisation and massive sulphide copper target at depth. Drill spacing is set at circa 250 metre intervals, with holes designed to test these targets over a strike of 1.5km.
Seems folks don’t truly believe the result Harry get the result out soon there’s a good chap!!!
Suspect big buyer in background
Tulu Kapi Gold Project, Ethiopia
· KEFI will own 80% of the exploration and holding company for Ethiopia, KME, which in turn will own 56% of TKGM, thus bestowing KEFI a 45% beneficial interest in the Project.
· KEFI is the operating partner of the operating joint venture company, TKGM. The other 55% beneficial interest is to be owned by the Company's long-standing partner, the Ethiopian Government and its more recently committed Ethiopian partner ANS Mining.
· Total TKGM subscribed equity is planned to be c. US$130 million including the past investment of c. US$60 million up to 31 December 2018 and the committed planned investment subsequent to that. Equity-funding will cover the initial phase of Project development and KEFI's partners have committed US$58 million (Ethiopian Birr equivalent) between them.
· Non-equity funding plans remain as previously reported. Debt-based finance of US$110 million for infrastructure, plus cash reserves, together with minor working capital facilities are planned. In addition, there are planned conventional construction and mine services contracts with the selected contractors.
· At a gold price of US1,400/oz the following are the estimates for the Project open pit only:
o Project export revenues are projected at c. US$200 million per annum, which would likely make it Ethiopia's largest single-enterprise export generator;
o TKGM NPV, at a discount rate of 8%, on start of production in 2021 is estimated at £196 million (US$249 million). From KEFI's viewpoint, the Company's planned 45% beneficial interest in the Project NPV at start of production would be £88 million (US$112 million); and
o Project free cash flow is estimated at £31 million per annum (US$40 million), of which KEFI's beneficial interest would be c. £14 million per annum (US$18 million).
Another push north coming ;-)
Unless I am missing something wont project equity funding mean massive dilution at a discount to current sp?
funding news for Tulu Kapi due any day - hence I bought today.
governance processes.
· The Project plan is for TKGM to trigger its development schedule with Project equity funding in October 2019, full finance closing in March 2020 and full production in October 2021.
· The key steps for starting Project development in October 2019 are as follows:
o Execution and closing of updated shareholder agreements and share subscription documents, which are in hand and include normal undertakings by the three shareholders of TKGM, as well as by TKGM itself as regards normal operational undertakings and insurances; and
o Satisfactory independent assessments of security, which has been received, and of the readiness of the Government administration and of the community, which is in hand.
Well called GrinGoblin......lol
Have a look at BPC & YU. - then you can call those retrospectively too, when they have their own 'multibagger' days coming up ;)
Atb with your investing