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You're a highly experienced Project Manager. You go through a series of interviews and get offered a job, building a Gold Mining facility, towards the end of May 2024.
Question. Do you hand-in your Notice at your existing job?
If this job advert is to be believed, the Finance Deal must be scheduled to be concluded by mid-May.
We've seen job ads before, about two years ago, that led to nothing. Might this time be different?
IMO it might be!!!
GLA
Thanks stringer and good luck to you and all holders.
It is potentially, at long last, looking as if things could come together nicely reasonably soon with the job ads adding weight to the likely timescales of the end of May given by HAA in his Proactive interview. There should be Saudi updates as well.
Here's another job listed and advertised on the 19th April that I don't think was in the list in one of the posts earlier - it's the key job of Project Manager for construction of the mine as well:-
https://ethio-jobs.net.et/vacancy-detail.php?id=3923
Job Purpose
Responsible for in-country activities related to the Tulu Kapi Process Plant, Accommodation Village, supporting infrastructure and dams, including the oversight, and quality assurance of construction activities manage by others on behalf of Tulu Kapi Gold Mine.
Responsibilities and Accountabilities
Responsible for all construction activities on Tulu Kapi site, including the oversight of the construction and construction supervision of the Tulu Kapi Village, Process Plant Area, Main Services Area, Mining Services Area, supporting infrastructure and dams managed by others.
Nick thanks for the reply to my question it sounds very well informed and given me alot to mull over. Good luck!
You would have to be a blind, deaf and penniless equity trader to have missed Kefi story. Might be one or two with lottery winnings who get to be in London in May and help Harry by buying some shares. Ideally he should take a broker along to this latest prezzie and sell some of his own hoarding over the counter. This little derisk could help him with his mental health and remind him he needs to start producing some gold from somewhere.
Hi Stringer, a few variables will come into play - including the gold price, volume of trading, stale bulls selling and the remaining warrants. The latter matter might hold it back as a proportion will sell at say 1.8p to 2p to raise funds to exercise 1.6p warrants if Kefi starts to trade around that level. At 2p it would still only be about 30% of an NPV that is artificially low given Saudi assets for some reason have only been valued at a gold price of US$1,650/oz. We know as well that the Saudi resource is set for an increase and plenty of scope for TK uplifts.
Going forward there are other share price drivers - junior miners may well come off a decade of depressed levels and Kefi plans to list on the planned Ethiopia stock market. A Saudi listing would have dictated the price rather than AIM so it is a pity that's not planned just yet. It's more uncertain with the Ethiopian listing but there will be relatively few listed stocks and a fair amount of cash looking to invest so that could bring a pleasant surprise.
In short, it could trade above 2p short-term but there will be headwinds and holders will have to consider whether to take the money, hold for a takeover or re-rating after short-term trading settles at say 3p to 4p or hold even longer term for a potential double-digit share price. I think what we can say is that it will be the most significant news in the Company's history and the share price should reflect that very positively.
Hi NickE can you see the share price going past 2p before settling at 2p?
Https://www.weare121.com/121mininginvestment-london/kefi-gold-and-copper/
Kefi attending this on the 15th and 16th May Q & A confirms the anticipated timescales flagged up for funding completion.
"Estimated potential Net Operating Cash Flow (1) £137M (c. US$185M) per annum from the 3 development projects"
"KEFI targets becoming a mid-tier producer with 3 projects in production by 2026, at a net production rate of 187Koz gold equivalent (155Koz of gold)"
"What are your key goals for the next 3, 6 and 12 months?
3 Months:
Closing project finance for first development project and, in the meantime, reporting steady progress across all projects.
6 Months:
Starting construction of the first development project and, in the meantime reporting the grant of a second mining licence, the expansion of resources and the scheduled progress on development studies for projects 2 and 3
12 Months:
Scheduled construction progress in Ethiopia, the expansion of resources and the scheduled progress on development studies for projects 2 and 3"
The job ads bode well and HAA couldn't have been clearer that all their internal protocols were indicative of full sign-off by the second bank and associated documents by the end of May. He also said he would issue updates along the way during May before including an update on Saudi. The discount to the £348m NPV should close significantly on finding sign-off. There will be plenty of trading but I suspect the share price will eventually settle close to 2p and a circa £120m m/cap. Kefi is then a potential takeover candidate. HAA hinted at this acknowledging that the African junior mining has consolidated from 24 companies to just 12 currently.
5m+ delayed buy print?
As is the case in many countries, I suspect that there are government regulations require that jobs are advertised to locals first before they can be offered to foreigners. I suspect this is the legally mandated local offer which has been done through an agency so there is evidence that a professional third party has undertaken reasonable steps to make these hirews. In practice, I cannot see that there will be many locals with the requisite skills given the lack of mining projects in-country, so following the expiry of the offer date they can probably be opened to expreienced foreign staff. Still a very good sign as clear there is movement.
Well, I’m curious but sceptical of the job posts, could be an agency trying to build a speculative roster, or the company testing the water.
But the other things that I’m aware of make me more confident that this is just a matter of waiting.
- The 1st bank getting board credit approval
- Major MN getting board credit approval
- The second bank, TDB, having lobbied hard to add Ethiopia as a country member and having regular meetings with the company looks like it wants to progress.
These things take time.
Fundamentals remain intact.
Thanks for sharing the link which suggests things are happening behind the scenes. Just need the money!
From the lse thread Sharezy
htTps://www.ethiojobs.net/display-job/531722/Logistics-Superintendent.html?searchId=1714125240.0627&page=1
Guess the relvence is it a logistics job that involes shipping things to TK,
another job that involves preparation for and resettlement Project and construction of mine administration and accommodation infrastructure all the jobs seem connected to the launch of TK in one way or another.
Good find sharezy,
With applications closing today, i'd expect offers to successful applicants to be made tail end of May.
Offers would not be made without surety on financing and project launch.
This ties in with the recent interview stating end of May
Should change the name to something that rhymes with what you find in the bottom of a bird cage.
That’s a reassuring find Sharezy.. my thanks too
Great find sharezy.
Nothing new.
Get the funding sorted!!!
Can't pay people without the funding. Oh I forgot, a placing would come in handy. Lol.
THANK YOU Sharezy
Selling at these prices, at this time is a curious behaviour.
All points towards launch probably sooner than later.
https://www.ethiojobs.net/search-results-jobs/?action=search&listing_type%5Bequal%5D=Job&keywords%5Ball_words%5D=TKGM
In case link above doesn’t work…
https www ethiojobs net/search-results-jobs/?action=search&listing_type%5Bequal%5D=Job&keywords%5Ball_words%5D=TKGM
I worked with a chap a long time ago nicknamed Harry-the-b*st*rd. The sort of smooth talker who would run the kitty on a night out but leave you to pay for your own drinks and he’d have a much better evening than us.
In May
The last interview I watched he said sometime May would probably be when all the finance is in place.
Plan B more dilution.
At this rate gold production will be 2027 at the earliest.
Looking like 0.5p is approaching faster than I envisaged. Hopefully this isn't a prelude to Harry confirming the withdrawal of the 2nd bank from the finance consortium. A plan B won't look pretty!