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Also USD and rates were higher today. Plus more Iran shennanigans.

Us job data was better than expected triggering a drop in gold, resulting in profit taking. Funny really as US job data is basically made up.

When this is all over God n' Geeze need marriage counselling

Thanks All.

BIKWIK

Can you remind me of the importance of the .36 warrants on the SP, other than the eventual positive cash flow that they convert to for ORR

Geezer and God...the Oriole OG Married Couple

@cjm many AIM explorers have had a “Harry” at some point, usually several, on the road to hopefully becoming a mine. KEFI has just had the same figurehead throughout, which makes him an easy target for 14 years of frustration in your case

But that was then and this is now, and hopefully all of those years of BS are now worth something tangible, based on the fact this is underwritten by a 240 million loan.

Bigbitenow and Xhita are consistently hitting the nail on the head. Looking at KEFI though the lens of an exploration company is pointless when it is now in the construction phases of building a mine. All the dilutions, broken promises, set backs etc were to get to this point. To think people have been here for 14 years and are now thinking about pulling their money, now that their conviction has been corroborated by institutional money to the tune of 100's of millions of dollars is mad- but I suppose waiting for a stock to explode for 14 years is kind of bonkers come to think of it.

Frogman - it's an interesting one because it's a mine refurbishment, not a new build but having seen some of the pictures of the existing infrastructure this won't be as simple as giving a squirt of WD40 as some here think. It'll require a loan which once agreed with a partner (i.e a bank), we should start to see a steadyish rise, along with status updates on the mine refurbishments. However, I'm sure the licence will do something to the SP due to the unbelievably low market cap, which let's forget is due to the history of this project and no doubt the reputation of the previous board. I think Froneman provides the added weight (no pun intended), and connections to navigate the corruption in SA, which was my no 1 concern previously, and Brewer definitely didn't give me a warm fuzzy feeling that he was the man to steer the ship. Still it's a long time till December so there's plenty of time to add here, with huge potential upside.

Which you know I know.

Just to add, I think the SP will rise come the license because it's a huge derisking event for Bibemi, and Bibemi can pay or everything moving forward, especially at these gold prices. Imagine what pouring gold in 2027 does to ORR.

Message to Ben. Fund Bibemi with debt, as it's a relatively quick build and high minerslisation per tonne, with an exploitation license coming, and a mini PEA already delivered. Once the debt financing is in place, and mining contractor procured, a steady SP rise should follow (L Curve). Start pouring gold, which pays for further exploration of the bigger assets. MBE might be a 3/4/5 million oz asset and they'll likely carry adding OZ's until they fully define it's boundaries which might be years.

Apologies if this has already been mentioned.

Good research - I thought it was the HSBC connection.

It wouldn't solve the price, but it would give the UK a source of revenue and would mitigate potential shortages. Two good reasons in my opinion. My tin foil hat theory is that the reason for not using the resource is more political than environmental, as it's a source of contention with the Scots who believe it would enable them to financially go it alone.

I agree DD. Getting to this stage is quite an achievement - hence why the curve exists.

I agree MF, 3P is literally the 1st step of the ladder, and when it comes the same people will be telling us the company is doomed, as they did prior to financing. It just comes down to do you trust; Derek, the retired teacher who now thinks he's an economist or the team of experts that did the due diligence prior to giving the green light on the £multi million loan. As money goes back into miners, it'll be producers that benefit first and then the developers that have financing in place, especially if the money markets dry up. Hence why KEFI's timing was important - those big loans may be harder to come by later in the year.

Https://edition.cnn.com/travel/africas-biggest-airport-is-being-built-in-ethiopia-for-usd12-5-billion-spc

Never have words been truer.

GLA

IMHO they will most likely use a combination of banks and streaming - similar to what KEFI negotiated recently Note Sibanye used HSBC and Citi for a huge financing deal in 2017 when they bought Stillwater, and the new Non-Executive Director, Sajjad Sabur used to work for HSBC as the Head of Direct Investments.

If Ben was in the army he'd be fragged by his own men.