RE: WHY SELL9 Oct 2020 12:42
KEFI expect to recieve 224m full funding this month. The director has a q and a on the 26th so I suspect news will arrive somewhere within the next 11 trading days.
KEFI have 3 assets - Ethiopian TK is what will receive the 224m. 20mil of the Ethiopian governments money has already been spend on building the roads and electricity to the mine, the Ethiopian Central Bank has signed off its 110mil and the final piece is due this month.
Fully funded and derisked to produce 320mil a year at $1700 and 400mil at $2000 up to 70% to KEFI
+ 2 Saudi assets - 64% artar - artar 70% owned by the Saudi royal family
1 gold asset with 700k Oz production ready with low start up costs from this point
The 2nd with proven 2.5b worth of copper
It's all about TK finacial close which is 5.5x KEFIs current Mcap and all call signs show the deal is being done.
NPV's for 100% of Project
USD Millions
236
422
607
GBP Millions
189
337
485
NPV's for KEFI 45-70% of Project
USD Millions
105-165
190-295
273-425
GBP Millions
85-132
152-236
218-340
These illustrative NPV's are shown for 100% of the Project and for KEFI's assumed 45-70% beneficial interest i.e. the previous base case beneficial interest of 45% is now redundant and will be higher. We now target up to 70%.
The value-indictors set out above with ranges of £85-340 million exclude KEFI's two other advanced projects - Hawiah (copper-gold) and Jibal Qutman (gold) projects in Saudi Arabia and compare favourably with the Company's current market capitalisation of approximately £35 million.
One of the most recent detailed interviews - http://www.kefi-minerals.com/news/webcasts