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Https://www.investormeetcompany.com/meetings/investor-presentation-522
Sharezy Bit more complicated question 18 Q an A tab. Guess it does show the "hunger by others to back the scheme".
'on the cusp' another phrase bastardized.
Expect a year worth of due diligence and assets handed over to friends. That is why I was hoping they would dig the fish pond so at least there would be a genuine feature that our hard earned cash created.
Sorry any shareholders who took notice of mine and others ramping in 2019 - 2020, but I got sucked in too.
Hi Rob, government % is 25%, this would be expected post-deal…
Probably the worst bit is Tulu Kapi Gold Project (currently 95%-owned but planned to reduce to c.70% at finance closing) though on the plus side suggests that there is appetite for the deal amongst the other consortium members.
EL - lol - not looking forward to a dilutive event.
But fully expected and built into projections.
Half a BILLION valuation on production.
Gap will close. Matter of time.
Going to hold and wait.
Key is getting second bank to sign credit. We have been told its soon, maybe within a week. Once that happens everything will slot into place. We have plenty of short-term finance and currently we owe very little compared to previous years. Harry needs to keep the 1.6p warrants warm and he has reiterated no plan for a placing before TK finance that he must be pretty confident will happen. Once we get to that point remember Kefi is a supplier to TKGM so we will be putting in invoices to TKGM when the $390m finance is organised, and who knows, but as we are majority shareholder in the project we are in a good place as Kefi to borrow as we would be almost debt free as Kefi so would be able to borrow on this asset as security. Remember last webinar said Saudi news coming but would really like second bank to sign off debt so the impact of Saudi update will have some impact.
"Manu you are hilarious……….." what about Kefi and Harry now that's hilarious
Where's all the money gone Harry ?
bunion sorry strong sell IMHO
I'm probably in a minority of one here, but in some ways I'm actually looking forward to the next placing. No, wait, I'm not crazy - hear me out!
We all know it's coming - it's inevitable - we owe money, we spend money and we don't make money. What we don't know is when, how many more shares or the strike price. That fear I think is a large component of what's stopping some investers buying right now. When the placing happens, yes, the SP will take a hit and yes there'll be more shares, but the fear will be gone (at least until the next time, but one thing at a time). Thus I'd expect the SP to recover quite strongly after the placing.
And that's not considering any other factors, such as TK finance closure, which I think there's a very good chance indeed will happen before the placing, and any other positive developments.
No-one likes placings, but they're a fact of life in a company that does not yet make any money. So you better make your peace with it, or else leave and don't look back.
"Manu you are hilarious……….." what about Kefi and Harry now that's hilarious
Where's all the money gone Harry ?
So, nearly £6m in debt to date, Satellite sites in Ethiopia have been overpegged since 2022, teams gave been sent out TOO the satellite sites to offer up stamp of ownership, No first pour until 2h 2026 and the share price is looking sh*te. The ONLY funding WE KNOW ABOUT is some investor in the UK willing to back HAA going forward...
Raising a chunk of money to alleviate near term funding and/or ease the overdraft Adams is running looks to be either massive dilution or a 1 for 20 (even a 1 for 25 or more) consolidation followed by a chunk of dilution at higher rate..
How much longer is he going to sit in the chair ?
Looks to me that Artar are giving kefi space to launch TK and would think the UK based lender is confident.
Overall told us what we already know need to close the deal with the second lender and trigger the second set of warrents.
Production n 2026 but that's two mines and TK finance rejigged slightly for later repayment of mine finance.
I'm going to be too old to enjoy the fruits of this investment!
Manu you are hilarious………..
You can't wrap that one up in cotton wool Rob she's a bad one no production until mid twenty six now
NEVER. GETTING. OFF. THE. GROUND.
Detailed definitive agreements for the project financing are in near-final form with contractors, equity investors and government agencies. Those for the lenders have also been drafted, but await credit committee approval by the co-lender before finalisation.
the financial projections were updated to reflect the Company's business plan:
-- Development of the underground deposit so that it begins to contribute to production as from Production Year 3;
-- Processing of the low-grade stockpiles at end of mine life;
-- Equity analysts' consensus long-term gold prices (as per Standard and Poor's) now at US$1,862/oz;
-- Lifting the process rate by 20% to c, 2.4Mtpa;
The intention to refinance the debt package with conventional corporate finance during the third year of production, at which point the more expensive components of start-up finance would be repaid.
LT holders are assuming HAA will need to buy a few more puppies to take home to his families and that will before he goes for his monthly shop.
He's the only one who can't loose because he has been gifted so many shares.
Selling into a rise is harder than you think, without an inside nod which the likes of TW will have earned by netting in lots of PIs you really cannot predict when the dilution is exactly going to arrive.
Here are the statements on working capital (level Kefi Gold and Copper) from the RNS:
"Group Working Capital
The Company working capital requirements are currently being met through:
· ARTAR funding KEFI's GMCO joint venture contributions whilst we optimize plans for our first development at Jibal Qutman by mid 2024. We currently owe c. £3.5 million to ARTAR and intend to settle the amount owing in due course rather than be further diluted in the GMCO Joint Venture.
· Unsecured advances being provided by a UK-based lender, for general working capital, as implemented regularly in recent years. As of December 31, 2023, the advanced amount stood at £1.5 million."[
As of January 1, 2024, the Saudi share for Kefi is (the planned) 25%. In addition, Kefi owes ARTAR £3.5m. In addition, there are £1.5m debts (plus “heavy” interest) to a (HAA-known) lender. Probably from Cyprus with ties to Xxxxland.
The next round of financing is just around the corner (figuratively speaking): The same game occurs: the price is "bought up", investors sell into the up-move and then purchase the shares at a lower price. Because the issue price will have a 100% discount on the last (“bought up”) prices. Unfortunately!
There is no question: Kefi Gold and Copper has (very) good, profitable projects. But the long period of time before anything substantial happens requires a lot of patience and a lot more capital.
HAA made a strategic mistake by not partnering with a financially strong miner after resuming development in Ethiopia (after the civil war). Like Orca Gold in Sudan with Perseus. HAA is standing in its own way - and is constantly burning capital from the shareholders of Kefi Gold and Copper. He himself escapes (relatively) unscathed; because he doesn't bear the dilution; with every capital increase he receives shares that are taken into account for his "work" or his “waiting”.
They still owe ARTAR £3.5m yet have been diluted to 25% in GMCO... and they say will be settled in "due course" without letting go of further percentage
and they now owe 1.5m + interest (c 35%). so nearly 6m to settle.
“but await credit committee approval by the co-lender before finalisation”
Any money come in yet ? 🤔
Never say "imminent" either!!!
Never say never eh!
"Ethiopia’s first industrial-scale mining project of the century has taken a step closer to fruition as KEFI Gold and Copper secures conditional financing approval from its lead creditor the Trade and Development Bank (TDB), KEFI executive chairman Harry Anagnostaras-Adams tells The Africa Report."
Https://twitter.com/addisstandard/status/1749810545233117301/photo/1