Member Info for Crazytowner

Currently 4:30 in Ethiopia .... According to the EIC Agenda ..... Its now signing of commitments & deal making sessions

First Gold expected late 2026. With BCM involved and the mine not complex, perfectly achievable

Therefore in 2 years time we'll be fully operational and likely paid off a shed load of the financing

NPV at production start at $2,800 = $1.4bn

Https://investethiopia.gov.et/wp-content/uploads/2025/04/Brief-Note-on-IIE-HLBF-2025-1.pdf

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I don't believe it is a coincidence Ratification has happened so fast and by today

It literally just has worked that fast, from committee approval to Parliamentary Ratification in 2 weeks !

All parties that are required to sign off the financing are likely to have senior people at the Invest In Ethiopa event.

We have just seen Ratification of AFC fast tracked and occur today

Deal signing events is a key part of the event ..... Might we see an RNS tomorrow confirming sign off?

Worth remembering from last months RNS

Tulu Kapi Project launch update

· Preparations for full launch of the Tulu Kapi Gold Project are advancing across all fronts for signing this quarter of the assembled detailed definitive documentation.

· Property surveys for Phase 1 Resettlement (c.350 properties including c.130 households) are now being reviewed against strict verification standards and procedures. The phased compensation and subsequent resettlement will be in compliance with Ethiopian Law and World Bank IFC Performance Standards.

· Updated tender prices for mining services are being evaluated.

· Construction of initial site facilities is underway, including expanded water supply and camps for construction and security.

The focus now is on completing the following this quarter:

· Government approvals of residual administrative matters, including AFC membership ratification by the Ethiopian Parliament; and

· Independent certifications for the project's fixed price construction contracts, security, community commitments and overall schedule.

· All contractors have been asked to prepare to proceed from the end of this quarter.

Fair play to the poster who suggested ratification to align with the Invest In Ethiopia Summit

What a great opportunity Harry & the Government to be showcasing us

And away we go :)

When ratification was going to happen was always the big unknown with previous dates having been missed.

This now being sorted removes concern of full financing sign off and project launch occuring by 1st July

Load up, sit back & enjoy all those invested here

That made me smile Ezhik

I added some more to the kids ISA's, all being well this will let them buy a house for cash when they want to

People haven't caught on yet, only a handful of people recommending posts, so many will be unaware at the moment

Good lad, have a great round and enjoy the sunshine

RNS will likely be this afternoon or tomorrow morning

Its great when somebody on the bulletin board finds news as it happens and PI's get a chance to do well

DVH, probably not the time to have sold a chunk of shares

Holy .....t

Here we go

Simply looks like a trade to me.

Not surprising that we are seeing bigger sized trades go through following the recent ratification update

Some will be building positions, others will be taking profit from the recent jump

ForrestGump,

If we ignore that banks provide bridging loans at this stage of a project being signed off and that Kefi have accessed working capital before, lets consider the role that selling Saudi would play

Lets say Kefi need 10m, and raise at 0.6p. Kefi would need to issue 1.7bn shares, diluting us by 20-25%.

Against the project NPV's thats a loss to shareholders of circa $300m of Tulu Kapi & Say 25m of Saudi (based upon the current 50-100m valuation)

Saudi will never generate a return to us shareholders of $350m or more, so you would sell Saudi right now at a firesale price of 10m if necessary instead of raising

The fact that Kefi have told us that they are no longer motivated to sell Saudi provides a very clear indication to me that funds are not required.

Dsrt, do you not think sentiment and the herd mentality are real things on the AIM market?

Doesn't look like any forward selling from what I can see

There is a lot of people on this board now trying to get the price down..... I wonder why

From Kefi's latest presentation on their website

- Tulu Kapi Gold Mine JV KEFI-Ethiopian Gov, larger than any Saudi gold mine

- Starting construction. 1st stage 135Koz pa open pit and then lift to near-200Koz pa

- 1.7Moz high-grade gold (2.1g/t O/P Ore Reserve and 5.6g/t U/G Mineral Resource)

- Preparing to launch Major Works with c.$320M finance package

- Net cash flow at $2,600/oz gold is $1.5 Billion net over first 8 years of production

- 100% of Gold exploration pipeline

- Further upside underground and in adjacent areas

Not really sure what there is to debate around these great numbers, it's all contained in the presentation and you can go back through RNS's to substantiate the individual elements if desired

You know something good is coming soon when people are working so so hard over the weekend posting absolute total garbage

Bonkers,

You asked for a comparative, you were given Rio2 which as a comparison puts us about 10x from here.

Now you are starting Kefi numbers as an argument to Stebo, yet the Kefi numbers are $1.4bn NPV at construction start,excludes Saudi, konso etc and the banks are happy lending hundreds of millions against the project metrics.

Really not sure what the point of your posts are today.