Member Info for Crazytowner

A week or so ago I ask Kefi Q&A about the size and quantity of trades and that it appeared that a large position was being unwound

They replied that they won't comment on the Shareholder register.

The continuing large volume beneath the most recent fund raise price is quite unusual.

I have been wondering if somebody has been unwinding a position ahead of the Saudi sale

It's worth noting that under different leadership Kefi would have likely gone bust.

As it is, we are on the cusp of a significant sale for one asset and financial close on another.

If you don't think these things are happening soon, that's your choice, however the idea that just because it hasn't happened yet so it won't is about as weak as it gets.

Let's say they get the lower end of the valuation for Saudi, 50m

They close financing and recover say 10m on project costs to date for Tulu Kapi

The amount of dilutionary and project risk removed is immense, Kefi becoming a company that institutions will buy into.

If the RNS is next Monday, or a few away, it makes absolutely no difference to myself and many as we can see that progress is still occurring

caterham,

it could be as soon as tomorrow if its artar, a few months if it goes to competitive bidding, or somewhere in between if its han****.

as i've mentioned previously, i think it will be artar that buys us out and then they do something with han**** to actually mine and process the existing deposits.

i think kefi have been purposefully extremely careful with their language for the feb & march deadlines.

"submission of proposals with indicative terms" does not put them in a position where they are having to reject offers and inform the market.

what it does do is establish the market value in an arms length transaction which is what artar will need to pay to buy us out.

it seems artar have the money to buy us out and the money is available from the saudi investment development fund to provide up to 75% project debt, so it doesn't seem that they need an somebody to bring cash to move forward.

what they do require is resource exploitation experience. the new jv shows that han**** is their choice and it would be very unusual to partner with other majors.

1p1,

at a gold price of $2,917/oz, the edison report values kefis share of hawiah at $60m, jibal qutman at $37m (dfs imminent), al godeyer at $0m, umm hijlan at $0m, al hajar at $0m as well as other licence areas all valued at $0m.

- gold is a hot commodity

- everybody is trying to get into saudi (saudi investment development fund will provide up to 75% project debt)

- saudi assets have relatively short approval, financing and development schedules

- al rashid family is a fortune 100 family

- the proven deposits are still open along strike and at depth

- the deposits without confirmed value appear extremely promising

this is not a forced sell by kefi, it's not a depressed market, it's not in a location where funding is difficult and its of no surprise to me that there is a long list of interested parties.

i maintain that the 28th feb & 31st mar offer submittal dates has all been about establishing the market value before and after han****s involvement.

anybody who thinks this is going for anything below $50m really doesn't understand the value of whats being sold or the level of interest there will be in it.

The recent Edison Report opens with "GMCO assets worth 0.60p/share; maybe 0.96p/share"

This would reflect a sale price of between $52m to $97m for our share (Prior to the recent JV announcement)

As Kefi pay Edison for their reports and are involved with the facts, they have a duty to ensure that such numbers are accurate and not misleading.

As Kefi had received a long list of indicative offers just 3 weeks earlier, those offers must fall within the range.

Quite simply, Kefi can't allow Edison to publish that if they know the information to be incorrect

Personally think the sale will be at the higher end, but can't wait to see how the green boxed reacts when his 10-20m is blown out of the water

Stebo,

It's not normal for an individual to dedicate so much time to a share they have no interest in.

We know that some individuals were contacting the banks, continuously post libelous and defamatory comments & have threatened Tom Winnifriths family.

Its certainly not a coincidence that Magnacarta stopped posting here and then immediately afterwards Bonkers began.

Best just to filter them like many of us clearly have

With it forecast to climb to $3,400 / $3,500 by the end of this year

GMCO literally entered into a JV with a billion dollar Australian miner and were awarded an extremely promising licence.

Kefi have stated that they are short listing from a long list

Some very very desperate posters around at the moment

Not sure why you are chucking at your own lack of understanding between cost and value.

The relinquishing was at cost, fact.

Historic cost is completely separate and has absolutely no relevance to the value / worth of the deposits.

you are clearly totally clueless.

relinquishing part of the holding for cost is extremely different from selling the stake.

suggest you check the facts and try to understand them.

plus it's not a coincidence that kefi have announced they are selling last year just when han**** were looking to move into and the jv would have been created.

and as to your ludicrous valuation, you clearly have no idea of how desirable the stake is and therefore how valuable it is.

Entities have been in the data room for months.

Perhaps you missed the part where proposed offers / terms have already been made.

Plus, we are not selling the whole assets, simply a 15% stake

updated indicative offers closes tomorrow and we know kefi was previously shortlisting from the long february list.

personally think artar buy our share and then does a deal with han**** going forward on the projects.

price looks like it could be somewhere in the 70 to 100m range and im leaning towards the higher end.

paulfg,

there currently isn't a market value for what we are selling as it is unique.

effectively 15% of hawiah, 15% of jibal qutman & 7.5% of al hajar (new han**** jv).

gmco do not have mining & processing experience, han**** clearly do, so its not a leap to see some form of gmco / han**** agreement for hawiah & jibal qutman in the future.

the sale of our share won't be to another mining company or explorer, it cant be due as would conflict with artar & han****.

if artar / han**** don't buy us out then the stake size is perfect for an investor to

upshunt,

its a hot commodity in a country companies are desperately trying to get into (han**** is a perfect example of this).

plus we are selling a minority interest investment stake in a company that has a strong saudi partner as opposed to a full deposit / business.

From Page 37

"At US$3,000/oz gold, the project is expected to generate revenues of USD3.5 billion, and EBITDA of USD2.3 billion.

EBITDA generated in the first three years of the project is estimated at USD1.0 billion"

Edison's latest report values our share of the Saudi Asset at $97m using current prices (circa $3,000) and $52m using depressed 2023 prices (circa $2,000).

Even if we were to take the mid price using $2,500, thats $75m and excludes any consideration for the new JV with a Billion dollar business.

We know Kefi pay Edison for their reports and will have been involved in the accuracy of the information being released.

When Edisons report was issued, Kefi had had a long list of indicative offers for 3 weeks.

There is absolutely no chance that Edisons puts those valuation numbers out and Kefi gives the OK to the report if the indicative offers received are not within that range.

Personally, I think we'll get something North of $80m

But I really wouldn't want to be the poster who was saying it will only be $10 - $20m!

Not a bad time to be finalising finance and selling a Saudi investment

Where have you seen that sixnoughts

There's a lot of them about 1P1

Green box guy posting hundreds of times a month is a perfect example.

Don't see them being around much longer