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a company with a detailed knowledge of Ethiopia according to Harry. Well, CEY tried to buy Tulu Kapi years ago - they would be a great investor
tintin
thanks
Do you know who the other senior investor is and if state owned?
I don't think I'd take Bulls advice to short this now, myself. I'd expect it to be pushed up during this week, but we'll see.
"AGM agenda...AGM requirement but importance got down graded as things got sorted out"
To clarify, because someone was asking about it several days ago here: they thought an AGM might need to authorise certain items for the deal, but as the deal was finalised, those fell away, so the AGM was reduced to fulfilling its role as a legal requirement.
apologies - misread your post!
100% owned - from wiki
National Bank of Ethiopia
Headquarters Addis Ababa, Ethiopia
Coordinates 9°01'02?N 38°45'02?ECoordinates: 9°01'02?N 38°45'02?E
Established February 15, 1906
Ownership 100% state ownership
they own a hell of a lot more of it than you own of kefi.....
If financing fell down would harry step down...depends on reason...not the moment to vent frustration, time to stand up and deliver
If government not re elected? Zero chance if happening as other parties not multi regional but kefi does not get involved in politics. Even if other parties were strong project still would be largest project and country needs it.
Missed question sorry some hypothetical question . Kefi micro cap..one should recognize company putting a massive deal which kefi will have a huge slice of it..mining companies need money to operate had to dilute in past... but terms not very good...never guarantees but syndicate seem happy and want to get on with it...everyone want to be sure countries steady as it goes so people wanted to see how election went first...made sure that things had settled down...kefi tenacious from now on piece of cake..
Jibal Qutman...KSA regulatory stuff up but it will but things now overhauled JQ used as a case study to help overhaul
Hawiah Bankable feasibility ? Grades picking up...kefi jumped a couple of steps... money going into feasibility study...bigger...higher grades..kefi has gone faster than they originally planned
Last question Thank you
Harry wrapping up...everything asked everyone just needs to knuckle and get the job done.
(Things look good you cannot say he does not try to answer every question and clear the air in these webinars). Should get a brokers note fairly soon as well which will fill in some gaps though webinar pretty comprehensive.
Brokers note research report put together imminent should be soon.
Final deal need harry there? Harry will go there very soon to wrap things up.
AGM covid protocols closed meeting concerning should have remote webinar?..shareholders can use this webinar to ask questions only two directors can make meeting anyway...this seemed the democratic way
kefi Contingency plan...changing circumstances kefi have replaced practically everyone kefi blooded constant planning and re planning team on the ground...
general meeting for shareholders to approve finance plan...no not needed.
Website and twitter account need revamp photos and so on...harry given advice on twitter different advice it should all be looked at again as the company is about to change dramatically as company going to change and be a big company...but no noise for noises sake.., but they do need overhaul just focus has been on other things.
Shareprice deflated what can you offer shareholders to get them excited? one media story does not mean a negative barrage it was dealt with...bulletin boards chats lines not companies responsibility..
AGM agenda...AGM requirement but importance got down graded as things got sorted out
What questions should shareholders be asking? If you do enough homework you can put sliderule over company and its numbers...not magic... different stages...what more can you do special situation...country about to take off and sector poised kefi first mover...Harry not lateral thinker he is not worrying unduly about getting finance intrigued instead about the potential where can kefi get to
Re rating of share price after TK financing?...NPV? market cap should go up in a multiple at different stages and if good pipeline when in production. From a tenth of NPV till over NPV when in production
mining licence of loss of exploration licence if further schedule slippage? lots of things have caused slippage but present syndicate a lot stronger and knows country... government appreciative put money they want to make sure it happens...this year, lust to get things going from Ethiopians...not contravened anything insist on approval before next steps which is what we are doing now...kefi meets government and partners every week and all the time
current relationship with government...change in sentiment with kefi? just a spat...Ethiopia powerful country going through powerful changes they are generally happy now have moved on...meant to be hurry along...not wise to give hurry along to major banks they were taken aback...everybody being more careful now
Signing ceremony formal? some formal some informal some media, locals to mine not that bothered just want the jobs.
historical spend 70 or 13 million? all written off till kefi decide to pursue just accounting.
Hawiah drill results...company tend not to not putout a drill hole at a time...tend to package up results...three rigs 24/7 month or so batch of results august September flurry of drilling...metalogical results coming back...high recovery rate on metals coming back expected...next three months...how quickly pfs finished 9 months then go into mining licence application 2023 starting development? will go quicker ARTAR and development fund means funding will be a lot easier than Ethiopia
Jibal Qutman lost cause? Not lost cause stuck on regulatory quagmire till it resurface will be eventually sorted
TW paying harry...not mate journalist though he likes him harry does not follow newsletters..
Working capital bridging loans...no further placement till full funding using kefi not going to the stockmarket till deal done.
Start Timing of Quarterly webinar? before end of quarter because of logistics restrictions and annual general meeting at end of the month so have Q and A now so plenty of time to reflect before AGM voting.
Questions.. Financial closing…defining execution of documents from syndicate then funds flow in stages
Laid out plans to central bank…for confirmation. Announced this morning detailed documents by end of July
No one committed? not true everyone signed up term sheets government committed has already spent money, all will sign together.
Kefi share of TK 95 percent before completion but after completion 75 to 80
Whats the plan? same as in annual report.. mining capex... mining contractor provides fleet... government equity... offtake...local subsidiary three years from now..40 million...missing piece 11 million...within a week or so, close to closing..
Bonus linked to whole package...why December do not know just a date things not expected to take till then.
What's has to be done update on targets...today's announcement now in the hands of central bank, ministry of mines, government waiting for authorities to sign off.
Should kefi have fixed schedule? "sounds like mines minister" logistics in getting round. Project unstoppable.
Final closure all parties on same day? cumbersome process blue ink signatures within the space of a couple of weeks...banks due diligence from senior lenders most important to go first, last money to go in…
Did company conceal warning letter...media commentary government employee. Company put out RNS on Sunday was the first they heard about it did not get letter to two weeks later...then refereed to it, talked to government..Ethiopians over anxious, things should have been discussed privately..
Ethiopians wanted good new story pre election... will government be upset by it not happening earlier? consortium members did not want to be pulled into media lets just sign the whole thing up further along attitude
Tintin
Is it a government owned back, fecking laughing if it is. Where did you pick that up from, do you have a link?
DVH, thanks for all your postings. Much appreciated counter to all the nonsense.
I've just listened to the webinar and enjoyed it. Excellent confirmation that Kefi is a great investment right now. All should DYOR - it's all in the RNSs and webinars.
Well done Harry, another good interview. Like Matt, I will now leave the bb to those naysayers who are not even invested. GL all investors, looks like we have a great future ahead.....
just waiting for the (Govt owned) bank to approve. and just a few weeks away :)