Member Info for Crazytowner

Wouldn't want to be out this weekend

"The Council also examined a draft proclamation to approve Ethiopia’s accession to the African Finance Corporation (AFC), a pan-African multilateral development finance institution. The AFC supports private and public sector entities in infrastructure, natural resources, and industrial development. Hence, the Council affirmed that joining the AFC would provide Ethiopia with access to critical financial and technical resources to spur sustainable economic growth and reduce poverty. The draft was unanimously approved for submission to the House of People’s Representatives for ratification"

Incredible find guys, well done

Time to fill ya boots

Stebo,

This is AIM where the Herd, Perception & Rumour can drive the share price more than Facts.

Its where the investors are generally regular people looking for short term big gains rather than institutions with a longer term view.

Most will agree the project is happening, but until it does an investors worst enemy "dilution" remains a concern.

Personally, I don't think it is, but i can see why some will. As those key events occur confidence will increase with the risk of dilution decreasing. Then its light the afterburner of the share price

There are 3 key events upcoming which will drive the share price up considerably

1. Ratification of AFC

2. Financial Sign Off

3. First Funds Drawdown

Selling Saudi is obviously a 4th, but there is no rush for this to occur

Fair point upshunt. Lol.

It's AIM, someone always knows and someone always tells.

Although it's a good feeling when PIs get the news first and the market then scrambles

It's definitely starting to move up.

Very surprising to see level 2 ask so empty from 0.6 up to 0.9p at this time

Rob,

I agree that Saudi would be great to hold, but it's not a free carry and i am firmly against diluting against our majority owned assets (Tulu Kapi) in order to remain involved at 15%.

As an investor, I would prefer to see Kefi using sale proceeds to focus on proving up our other Ethiopia assets, obtaining additional licence areas and fully remove any risk of dilution going forward.

There is plenty to go at in Ethiopia for us to make a serious amount of money over decades.

If we had sold Saudi 4 months ago, us shareholders would have avoided 25% dilution back in December.

We'd also now be in the position to retain a larger % of Tulu Kapi.

Interestingly, level 2 looks very different this morning with a significant number of 3m blocks.

Would appear to be shaped ready to take advantage of a rapidly moving up share price

Ponderosal,

The reasons Kefi gave for selling its Saudi interest were legitimate and remain, all thats changed is the timeframe.

To have opened up the data room, have a long list of interested parties submitting bids and having worked with Artar on a shortlist is a serious intent to sell with potential acquirers also having spent time and money on their due diligence and bids.

Plus the names that will be interested will have extremely deep pockets / mining experience which is obviously what GMCO requires going forward won't be lost on Artar.

So I stand by my point that this is not something that is now easily stopped.

Now it's easy for some posters to say it's not been sold because the bids were rubbish. If this were the case then Artar would enact the compulsory sale and pick us up at what would be an established Market Value.

The RNS stated that the discussions will continue. Not having the time pressure will simply allow us to maximise the sale price.

The Saudi Assets will still be sold.

NPV of Ethiopia 1.4bn (100%), Saudi 100m (15%). Its a no brainer where to focus going forward.

Its impossible to put the genie back into the bottle now that Kefi opened itself for bids on it and the money sloshing around out there.

All thats changed is the timeframe and that Artar havent enacted the compulsory sale.

Bids starting to shift up..... Finally

The bid and ask have been firmly stuck at 0.5 and 0.57 all day

I don't really like to tip shares to friends and family, however I did point out how undervalued Kefi is and that imminent events could provide short term multi bag.

I just don't think you see such an enormous value gap that often

Had problems getting the link to work, used this instead

https://youtu.be/YXrmULlilI4?si=flB_BEHGsCALBPAj

Saudi discussions still occurring on a willing buyer / willing seller basis

"We are here to make money, not for the masochism" :O)

Stringer,

Yet this is what you posted earlier

"Crazytowner, the price of gold could be $20,000oz wouldn't do anything for Kefi or it's shareholders"

Stringer,

For s**** and giggles, lets play out what would happen If gold was $20k now with a stable outlook.

Capex would be re-paid in the first month of production and TK would have an NPV of about $15bn.

There would be dozens of take over offers, every institution would be trying to buy chunks, streamers & lenders would be tripping over themselves to be involved.

Yet you think it would make no difference to us shareholders as the market cap would remain at $50m

Stringer,

You imply that the gold price is irrelevant and all that matters is signing the financing of Tulu Kapi.

You do realise that a good chunk of our finance package is gold-linked preference shares? What do you think would happen if the outlook was say $1,500?

Kefi are still in talks with parties in respect to GMCO. Do you think future gold prices are a consideration when discussing the investment of 10's or even hundreds of millions of dollars?

If the US announced a new gold standard tomorrow and it hit 20,000, you don't think it the share price would move considerably even without financing? Interesting.

Most are accepting gold will hit 4k this year.

Apparently Trump is looking to do something monumental on July 4 next year to mark 250 years of independence, a lot are saying he'll announce a new gold standard.

10k and more perfectly achievable if this happens

I wouldn't say that the Ethiopian Government is deliberately holding ratification up.

Ethiopia is embarking on a very new journey of international investment. Getting this correct will form a template for the banks and institutions which follow.

Bonkers,

Timelines slip. Its frustrating, but not uncommon.

We all know that Kefi have very little influence as to when AFC will be ratified by the EG, but as this is something new there isn't comparable cases for us to reference it against.

As an investor, I personally would prefer Kefi to be creating & following timelines with the government, banks & contractors and updating us. It won't always be right, but as they are closer to the information, it will be a lot more accurate than our guesses.

It's obviously your choice whether to share any email response from Kefi.

For those who've not had one back, its nothing exciting. They just tend to say that they can't comment on certain items. funding, asset sale etc.