Member Info for Crazytowner

If people don't think Kefi has changed and is going places ..... they need to watch that Edison interview

So much information & so positive

Investors now are going to make an incredible amount of money

Just last week you were saying that you only expect 3p when the gold is pouring. Lol.

In the next week or so we will see the deals for the equity element and how we are valued outside of AIM.

The fact that we are oversubscribed should tell you everything you need to know

We will rise considerably here as the value gap closes and then you'll disappear like all the rest.

Meanwhile, into the green box for you

Jewster,

I've no idea what you've been looking at for ages, but If you think Kefi's market cap is only going to be £300-350m when we start pouring gold then you must be researching something completely unrelated to mining stocks.

You've added 30% to the construction programme. On what basis?

There will already be some fat in it and it is a simple mine and processing facility, we are using experienced African contractors plus a very supportive regional / federal government and local community.

Institutions trying to come on board when the debt is repaid and gold is being produced will be paying 15p and more.

Re-rating in KEFI shares finally underway

Over the past few weeks, KEFI shares have risen sharply from very low levels. This initial re-rating has

been driven by a combination of the market’s anticipation that financing for Tulu Kapi will be finalised

imminently, and higher gold prices. Despite this move in the shares, KEFI remains significantly

undervalued compared to peers. Assuming the market ascribes no value to the 15% stake in GMCO,

KEFI is being valued at an estimated EV/oz planned production of US$1,100. This is based on average

annual production of 180,433 oz gold from Tulu Kapi in the first three years of the project, KEFI’s

expected 85% stake, and current shares outstanding and exchange rates. This represents a discount

of 76% to peers.

KEFI shares seem unjustifiably cheap, especially given Tulu Kapi is on the verge of being launched.

Finalising the financing package seems likely to further propel the shares

Start of construction valuation of 3.3 p/share

Assuming Tulu Kapi is fully financed (expected imminently) the market might be expected to value

KEFI more in line with peers at around US$4,500/oz planned annual production. KEFI announced, 30

September 2025, that the remaining equity capital of approx. US$60m is currently being finalised. KEFI

said it has received conditional proposals that exceed this amount. Herein, the assumptions are that

US$20m is raised through the non-dilutive Ethiopian preference shares and gold-related products;

that the remaining US$40m is raised at a valuation of US$250m for Tulu Kapi; and that the full Share

Option Plan (10%) is issued post-financing. On this basis there would be 12.6bn shares outstanding.

Based on production of 180,433 oz pa in the first 3 years of the project (KEFI’s Owner’s Business

Plan), assuming KEFI owns 85%, accounting for KEFI’s share of the US$240m funding debt, and

valuing the attributable resources in Saudi Arabia at US$120/oz, (a 25% discount to peers), KEFI

could attract a valuation of 3.3 p/share.

The value gap is even larger now that securing funding has derisked the project substantially.

Institutions and funds will be quietly building positions at this rediculously low price

A doubling to 3p ish over the coming days / weeks looks nailed on as the scale of this opportunity sinks in

Yes, Kefi will need to give at least 14 days notice for the General Meeting.

Am really not sure what we will need to vote on as its all being done at subsidiary level

It's got A LOT of Gold in it

Burned Bright but Short, lol

Looking like we be back above it shortly and wont be looking back :O)

The final equity setup is going to be extremely interesting for us.

Being oversubscribed is excellent news as it strengthens our negotiating position.

I'm expecting it to put a much more realistic valuation on Tulu Kapi rather that our current share price.

I'm then expecting our share price to shift accoringly

i have no doubt that han**** will have been in kefi's data rooms.

i'm personally leaning towards anglogold ashanti, i think we slot in nicely with their existing projects as well as open up neighbouring saudi for them.

https://postimg.cc/k1w9wkjd

just in the 6 months to dec25 they'll have generated circa $600m free cash, after they've paid a 50% dividend. they'll be looking for a home for it

Kefi's Broker went on record 2 days ago stating "No Upcoming Placing"

Thats practically unheard of in the AIM market

Kefigold, it's not a lot more difficult.

The Kefi Group structure is configured to allow the sale of the whole or the parts.

It's clear to see in the group structure in the latest presentation.

It only becomes messy is you try and dispose of the single asset.

An acquirer can simply buy our share capital and have the subsidiary businesses / territories continuing as normal beneath them

MF2017,

A take over would be extremely simple as the suitor would acquire 100% of Kefi PLC, therefore acquiring 100% of Kefi Ethiopia & 15% GMCO

Even a purchase of Kefi Ethiopia would be pretty straight forward

2.2% Growth Per Week in order to get to circa 12p at first pour.

If only things went up in straight lines that would be a sweet growth

The project has started

Road, Power & Community Relocation all underway

Procurement of processing plant underway

From todays presentation

"Field activities on schedule and full development implementation already started in October 2025"

The banks which have just agreed to loan $240m will most likely be providing bridging facilities whilst the equity component is finalised this / next month

Kefi has issued about 3.5bn shares in the last 10 months at 0.55p to investors who were hoping for sign off within a month or two.

So, there was always going to be profit taking, but i don't think anybody expected there to be such a large persistent seller from the minute funding was announced.

The good news is that they can only sell once & our Broker has said no planned placings.

So once they are out, the shares will be in stronger hands and i'm expecting a fairly speedy recovery.

It's a little disappointing to see a sizeable un-realised profit fall, but it will be back plus more soon

Very unusual for an AIM companies Broker to state on the record No Placing Upcoming

Think quite a few have missed this in all the excitement this past few days

Yes, producers are generating so much cash at the moment they are bursting at the seems and are now looking where to put it.

The best assets will be acquired first, Kefi is one of them. A ready made and extremely valuable project

nope, have held onto them all. have never tried to trade and am looking at the longer term value.

can understand some people taking profit, but was not expecting this peculiar selling and subsequent drop on the back of such an important event.

as i mentioned earlier, i think we are now in takeover territory from either an opportunistic bid or a closer party (han****)

for instance... anglogolds free cash flow for the 6 months to december would allow them to pay a 50% dividend and retain enough money to buy kefi for 6p per share.