Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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'the final sign off will never happen. 100% sure of that.'
CondomMan makes another bulls hit statement. How can you possibly be '100% sure'? Are you linked to the Banks or the Gov't? of course not, just a sad peep with nothing useful/productive to do during the day....
Rob
It's not signed until its signed
Did Harry say this morning that the signing could be three months away
There's one thing I will say this is going to be a cracking share to trade if the company ever gets the paperwork completed
From Hotstock rockets
“It is also emphasised “the entire US$320 million finance package is designed at the subsidiary level… The targeted value-add from project implementation is many times today's KEFI share price… whilst also addressing our highly prospective exploration pipeline in both Ethiopia and Saudi Arabia”.
Plump basically between the market cap and the share price there is a huge disconnect just on TK and that's before you even get to the Saudi side.
You shifting your position so yo now see this going ahead?
Sharezy
What makes you so confident that there's going to be a big rise to the SP after sign off
Time to reap the rewards soon.
Wonder when the penny will drop…
as opposed to "sees no holdups" ?
which means there are holdups... not matter how less than fundamental they are.
he's been saying the same****** for the past 5+ years....
just one example, in sept 2019
“all parties are completing the last-minute actions for next month’s start of the 24-month development schedule to achieve full production in 2021,”
that "last minute" has turned out to be "last 2.5 years and counting".
year in year out he's been bigging it up like he has this week. result = naff all happens.
the final sign off will never happen. 100% sure of that. harry will eventually walk or show the door for the abject failure he is
Https://www.proactiveinvestors.co.uk/companies/news/1038206/kefi-gold-and-copper-sees-no-fundamental-holdups-at-tulu-kapi-1038206.html
All good....
😀
Harry is laughing his ass off and he will be when this gets fully funded, gold is looking strong today, already have the main banking syndicate approved just waiting on the second one and we're away after all these years, now it's a time to get in.
One of the reasons I invested was that - taking the emotion out of it - HAA presentations distract from the content of the presentations - the numbers and the reality of the direction of travel (slowly towards the prize). I don't feel one way or the other towards the man. I believe he's been around long enough to make this happen, and I think it's been harder and taken longer than he ever imagined. He's had to "stay positive" and remains so - or it would have all fallen apart. Ironically, this which has grated so much is in the interests of existing shareholders, as opposed to the opposite - even if taken at face value it causes so much chagrin. I fully empathise with early investors here (at least the ones who fully grasp this reality and take it on the chin.)
As with a lot of harry short interviews have to get past the delivery and actually look at what is being said..
“The government has made a number of important changes to the laws and the rules and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.” Basically the rest of the consortium were already happy just waiting on the banks.
“so those three things are happening now in parallel to allow the whole project to go proceed in a few months time
“there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open.”
Harry talking about full go ahead before that obviously will get the second bank go ahead then followed by a stream of go ahead by other parties.
As for Saudi its all good basically so much money washing around Suadi chasing not many international miners that “it will be quite easy to move forward without reliance on capital from outside Saudi.”
Part two
(Interviewer) do you really thing a few months time is realistic considering there are all those moving parts?
(Harry) There are no fundamental obstacles..we know from experience that the first transaction in a country that has suffered turbulence has been vulnerable to delay..what I am projecting there is things going reasonably well not as fast a they could possibly go but no major holdups what is.. important is that there are no fundamental hold ups there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open. I could not have said that a year ago we had to push hard but now the door is wide open.
People want to get on with it we have all invested years shareholders have invested money even all these syndicate members have invested time and money…when the stars align you should go (for it) and that is where we got to.
(Interviewer) lets look at Saudi now..
(Harry) In Riyadh..it difficult to convey the difference between the atmosphere in Riyadh and Saudi and almost ever other jurisdictions in the world for mining you walk around most jurisdictions you walk around most jurisdictions full of ideas and ambition but not a lot of money chasing it Saudi is the opposite a lot of money chasing mining..we are amongst the head of the pack..we have assets in feasibility studied for development and a large pipeline of exploration assets it is refreshing and uplifting.. I feel very confident..the ability of kefi to leverage of fifteen years work in Saudi Arabia.. and the sovereign fund and other Saudi capital providers wish to pursue our vision is a comforting feeling.. I feel very optimistic that once we select the preferred scenario for each of our projects..it will be quite easy to move forward without reliance on capital from outside Saudi.
It what you actually say..
Part one
(Harry coming from Riyadh)
(Interviewer) we are going to talk about your work in Saudi a little bit later Harry but first some news out of TK this week.
(Harry) Yeah pleasing to report an important milestone..we were ready to get credit approval a few years ago then we suffered the frustration of turbulence in Ethiopia.. so we had to batten down the hatches and keep the syndicate together and now we are very fortunate and pleased that that we are getting on with it now.
The government has made a number of important changes to the laws and the rules
and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.
(interviewer) anyone who has been keeping an eye on kefi in the long term Harry will know there are quite often these procedural breakthroughs..but what does this news mean today?
What it means we have triggered three things in parallel to start up the full construction in a few months time..one is preparing the community..we did not want to give them a false start or false hope so we waited for this moment before going out there and sitting with each one of he households explaining what it all means to them, it is compulsory resettlement but nevertheless its important that it is done properly..that's one thing in parallel the approvals of the secondary parties the lead bank approved now the others follow.Those processes we feed as well and the third thing is the detailed documentation… so those three things are happening now in parallel to allow the whole project to go proceed in a few months time as a total package.
I’m heavily invested and fully believe this will happen.
That aside - and listening to the latest proactive interview.. it is 100%… “Rewind-Play “ …. As with all the prior and similar interviews..
Harry’s credibility left the building a long time ago in fairness he is the ultimate master of ‘over promise & under deliver’
He should absolutely take the kudos when this happens, and then have the good grace to find someone genuinely believable to drive this forward.
I have run out of patience with the monotone diatribe that always falls way short.
Bring in the new
No, no, it'll be "wait for the disater/bad news/scam/HAA fail" all the way through to production...*
*Probably. I filtered him.
I love the way ajs ALWAYS puts a negative spin on ANY topic of debate. Just has increasingly limited impact imo. Oh its just ajs having a moan.....(86% 'Kefi' posts in the past 30 days none positive says it all really). Keep up the good work ajs, you'll be disappearing soon enough when the TK finance is (finally!) signed off lol
I presume all making personal comments in lieu of anything useful are in peak condition… 🙄
Https://www.ft.com/content/46bf21a4-e626-4581-ad85-8b74bbd82e4e
The venture, 51 per cent owned by Saudi state-owned miner Ma’aden, with the remainder owned by the country’s Public Investment Fund, will take non-operating minority stakes in mining projects internationally, the two companies said on Wednesday.
Also on Wednesday, Maaden said that it would buy a 9.9 per cent stake in Ivanhoe Electric, a US mineral exploration group backed by mining tycoon Robert Friedland, for $126mn, giving it access to geological surveying technology. It also signed on the same day a joint venture agreement with Barrick Gold, the world’s second largest gold producer, to explore for minerals at the site of the Jabal Sayid copper mine.
https://www.kefi-goldandcopper.com/files/files/Orior-Capital-KEFI-Research-Report-25Jan23.pdf Jabal Sayid not too far away from a couple of kefi licence areas.(slide/page 40 image)
I've seen a few deals fall apart after the lead in a consortium has been through credit. It's not common, but it does happen.
I maintain that someone is very uneasy with the risk they're taking for their place in the pecking order. Otherwise this would have been done and dusted months ago.
Https://www.arabnews.com/node/2284431/business-economy Artar kefi joint venture partner one of those bidding though obviously with so many bidders long shot them getting it but shows the JV is taken seriously in Saudi and who knows they might get lucky. Another possible development is Ivanhoe making discoveries near kefis prospects with their impressive new tech with them active in one of the same regions as kefi.
Tons of developments still catching up if anyone comes across any info on the exploration fund the Saudi are going to set up feel free to post it up ditto more detail on tax break for companies having their HQ in Saudi.
https://www.youtube.com/watch?v=X6fxNzAUWZM
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/011124-saudi-arabia-fast-tracks-efforts-to-become-leader-of-minerals-super-region
https://www.mining.com/web/saudi-arabias-manara-minerals-fund-plans-metals-trading-arm/
https://economysaudiarabia.com/news/future-minerals-forum-global-metals/
https://www.zambiamonitor.com/saudi-arabia-extols-zambias-reforms-in-mining-sector/
https://en.trend.az/casia/kazakhstan/3847624.html
https://www.leaders-mena.com/canadian-delegation-partakes-in-future-minerals-forum-in-saudi-arabia/
https://www.arabnews.com/node/2439981/business-economy
https://www.zawya.com/en/projects/mining/saudi-seeks-to-build-investor-friendly-mining-system-official-jj66a5ep
https://www.arabnews.com/node/2440041/business-economy
Highly unusual for a ‘second’ bank to have a different credit outcome to the first. Highly - as I’m never seen it.
They rely upon the same DD and will enter the deal via a sell-down sometime later, so their monies don’t typically go into play at the beginning.
Lots of over-hypothesising going on here.
This is what it is, and I don’t think it requires that much contrarian narrative.
Just a little more patience.. and hope that HAA’s incessant comments around “access to short term debt” are indeed valid.
Why has Magna Carta (according to TW) opened up a short on these shares ; is it because they are within range of missiles which would again delay the secondary bank's cautious decision making process?
Whilst quite a few are stuck on a boring loop of past promises posts ....Yawn
The current reality is that External entitles are approving their elements and this is happening
It's really not that complicated now
Condor, we can't help ourselves because Harry made us a bit sick in the head.
Please pretend everything is ok otherwise some of the fifty thousand or so kefi investors might all have to seek counselling on the same day.