Member Info for Bridgedogg1

All those sitting the fence must surely realise now that this has seen the bottom, the big news on Saudi and TK yet to come this will be back in the 2p+ range in no time. I’m expecting multiples of current share price and intend to add below 2p and hold into 2023 at the very least.

Good progress for Hawiah project, adds to the project and upcoming MRE and shows how Saudi will provide a great future for kefi. Expect we will be obtaining similar licences in the future for satellite deposits on the project. 75% gov financing package in Saudi means this will move to development quickly once feasibility complete in 2022.
Jibal news now imminent too I think based on this

Funding and project launch on the ground isn’t the same thing. I’m still hopeful funding will come in pre the jan deadline, especially with the EG forces making such unexpectedly strong gains so quickly. Apparently people find it hard to fight against missiles from the sky…
Also Saudi update coming next week (?) so plenty to look forward to. IF we need an extension hopefully Harry will get this sorted before the deadline passes. Don’t want another hearsay article like the one that sent the SP diving.
All in all the the future looks brighter than it has in some time.

Extraction in May?

Kind of correct but the latest rise went straight from 0.8 to 1.1 and broke the 20 and 50 day moving average so was fairly significant from a technical point of view. The fundamentals on the ground have also changed, the geopolitics are important here, hence the update from the CEO. He has stated that finding has been agreed and the financers have confirmed there intention to sign once certain conditions are met. Yes - we need the concrete signatures but if you want to wait for that you will have to pay a lot more for your shares.

Am ideal time to top up, thank you

To be fair quite a few investors have been burnt here, this was 2.5p less than a year ago. Harry’s salary is also a complete joke and the delays have been incredibly painful. Some of it has been out of the companys hands but expectations were not managed very well. I think the risks are now priced in and there is plenty of scope for a good uplift from here. I do like the frequent updates we are getting. I can see bigger players investing once Saudi gets going. TK may bring us a speculative boost as things improve but big buyers will be wary, IMO, to take on the risk until it is producing, or very close to producing gold, price will be higher by then but that’s how PIs get ahead of the game- by buying early when there’s more risk. We’ve got a very low MCAP with two huge projects on the horizon, to be sure we are under valued.

Nice to see some blue action even if it’s low volume, feels like the momentum has reversed into positive territory with good news coming out of Ethiopia and Saudi we can expect plenty of positive updates.

The market will find it difficult to ignore the upcoming updated Mineral Resource Estimate in Saudi. 19.3Mt @ 1.9% Cu Announced a year ago which made it similar to TK after just the maiden drills. Since then we’ve done 27km of drilling! It’s going to be massive and finance for this one will be a walk in the park compared to TK.

If we can get past 1.2p this week there is a huge gap up to 1.6p

"Harry is desperate ..."

By the sound/tone of your post think you might be the desperate one.... yes the rebels now have KEFI in their sights after the CEO made a brief update on what is happening... thanks for the 'common sense' lols

The batman chart only serves to highlight that the (previous) support is at the 0.6p level. Expect it to go much higher after a bit more of a slump in the short term IMO, what with placing shares/dilution. I'm not invested yet though so I would think that.

Do we have the same poster on multiple accounts complaining about an update to operations? Very strange.

Hugely undervalued here, amazing entry point.

Updated Hawiah Mineral Resource Estimate ("MRE") on track to be reported in Q4 2021
· The upgraded and expanded MRE is likely to enhance Project economics in the Preliminary Feasibility Study ("PFS") due to higher grade and increased tonnes

TK has become the wildcard here with only Saudi seemingly priced in. This could move very quickly.

Great update, very nice to see some clarity on the company's operations. Firstly positive reports on de-escalation. I've been following this but wasnt aware that a peaceful solution was already on the cards - let hope so for everyone's sake.

Most important points for us -
-KEFI's project teams have remained on the ground throughout this period of broader national conflict, preparing for the launch of the Company's Tulu Kapi Gold Project
-Project syndicate members have reaffirmed their intended Project participation
- Saudi Arabia has made significant progress in adding value to the Company's assets this year, completing approximately 30,000 metres of drilling, along with a range of tasks within the Preliminary Feasibility Study. An updated Mineral Resource Estimate for our Hawiah Copper-Gold Project remains on track to be reported LATER THIS MONTH

Should be a good week/month/future for KEFI holders

“The Company has refined contractual terms for project construction and operation, together with having assembled the full funding consortium and set the conditional terms for the development funding package of c.US$356 million, to be triggered as soon as normal conditions are satisfied including security.”

I wonder now what constitutes ‘normal’. The financiers we’re going to sign while the civil war was ongoing, it was only the kidnapping of the KEFI employees and then the worsening war situation that prevented signing this month. That leads me to believe that once the EG position relative the the TPLF becomes unassailable, I.e. TPLF are boxed in Tigray region, then the the signature process should get back underway. These are institutions in Ethiopia that have monies they want to invest. We also have China seeing Ethiopia as a key partner in the region for their belt and roads expansion, along with a number of international mining companies sniffing around in regions much closer the the war than us. Many are waiting for Ethiopia to open for business which they should be shortly. The EG are going to be desperate for inward investment.

On the project front, work continuing at the mine and positive developments with the satellite deposits to keep this running for years to come. Profit to KEFI is around $400-$600 per oz. with 190k oz per year targeted. Gold price is getting ready for another move up IMO which will pig us in the spotlight when the funding is announced.

Just £18m MCAP, and with out Saudi project(s) too!

GLA

Comments on this chat, ramp or deramp doesnt influence anything, except possibly a couple of naïve PIs who wont last long.

Many LSE board followers are in their own little echo chamber, waging war against each other on these boards as if it actually matters. You think if every comment on this board was positive the share price would be any different? 1.5p? If so you are deluding yourself into thinking you have some kind of control over your investment (for rampers) or lower entry (for derampers). Also the idea of 'paid derampers' for specific shares is also nuts. Suggest you come away from the boards for a bit.

The TPLF care nothing for the land they have taken, they’ve done £billions of damage and looting and their doesn’t seem to be much fighting to retake the cities. It’s possible this is a strategic withdrawal, we will likely see larger clashes as the EG army approach Trigray, that’s when the EG air support will play a critical role. I suspect fighting at Tigray will be much more difficult, that’s hopefully when negotiations will start.

A little move up of the bid today, the Ask refuses to move above 0.9p, perhaps when it does we will make meaningful move upwards, otherwise it’s waiting on Saudi resource upgrade this month and financial close on TK next month. Should see 3p easily if they both come in as planned. Plenty here desperate to get in cheaply, warms my heart. GLA

We have hundreds of millions in financing arranged, done if which will go towards paying off debt and working capital, so yes, another £50k interest for a few months is worth it vs placing. I’m sure the lender/largest shareholder would agree.

£5m? As at august we had £1m in cash. The loans was for £1.8m. We may need some capital to tide us over for a month but it won’t be £5m and won’t - in my opinion - be via a placing. Maybe a £200k addition to the current loan.

Derampers with an agenda filtered

Q: Based on the recent dive in the share price, obviously the company doing a (discounted?) share placement based financing round would be hugely dilutive and incredibly unpopular with the existing shareholder base. Please can you confirm that the current loan as well as any associated credit facilities can be extended in terms of repayment until sometime during Q1/Q2 of next year?

A: We always have and continue to use these bridging facilities to optimise the timing/pricing of capital-raisings from the viewpoint of minimising dilution. We have lined up almost all Tulu Kapi +$350M project finance at the project level, which is because Directors are determined to minimise public shareholder dilution.

Q: Assuming that you are clear on the steps required to get everything approved in Hawiah, do you have a plan and are you working towards having the required meetings, etc. with the Saudi teams during January/Q1 to get everything approved and the mine build process kicked off as early in the year as possible?

A: The process in Hawiah remains to complete the PFS and lodge the Mining Licence Application in 2022, complete the Definitive Feasibility Study and financing in 2023 and start construction on the back of Tulu Kapi coming into production at that time. There is a solid team on the ground doing all this.
Posted 07 October 2021

Q: Why use in-situ metal to indicate value? Isn’t that misleading as it does not take costs into account?

A: We agree that in-situ metal value merely gives an indicator of scale and not of value after extraction. It was provided so that shareholders get some feel for the scale of Hawiah. For instance Tulu Kapi’s 1.1 million ounces of gold resources in its mine plan have in-situ metal value of about US$2 billion at current prices. KEFI’s planned circa two-thirds ownership is US$1.3 billion of in-situ metal value. KEFI’s planned circa one third ownership of Hawiah’s maiden resources has in-situ metal value on the same basis of c. US$1 billion. That’s simply a measure of relative size of the two projects from KEFI shareholder viewpoints, i.e. they are about the same if Hawiah is measured based on its 2020 mineral resource. NPV’s and cash flow projections are clearly another layer of necessary analysis and this will be a focus when we report the Hawiah 2021 mineral resources next month, as foreshadowed.
Posted 11 November 2021