Member Info for Crazytowner

Very happy with the detail in and tone of the RNS.

I like that first tranche of compensation to locals has been paid, things are clearly still progressing well in the background

No doubt that this is now moving ahead

I think a bidder would need to offer 7p plus in order to succeed in a takeover, and I think there will be offers over the next 18 months.

Quite simply when production starts we will be circa 10p on TK alone.

We will also have established relationships with major institutions, other licence areas progressing at speed and the business well cashed up from the Saudi sale.

And all of this in an upcoming high growth country.

Obviously we need financing across the line, but this appears very close and the outlook extremely profitable

Am surprised you've not green boxed the poster like many of us have Stebo.

Can't say i'm particularly surprised at seeing 5 to 10 of them a day after saying they were leaving.

Obviously some kind of obsessive condition which prevents them from coming to terms with their past losses here and moving on.

Not worth the time reading their posts, let alone engaging with them.

Looks like the close was on Friday, will look very positive with them closing 100m funding to an Londen listed company shorthly after this news

https://www.londonstockexchange.com/discover/news-and-insights/london-stock-exchange-welcomes-africa-finance-corporation-following-landmark-bond-issuances

“We were delighted to welcome AFC to the London Stock Exchange and to recognise their commitment to advancing Africa’s infrastructure agenda at our Market Close Ceremony,” said Dame Julia Hoggett DBE, CEO of the London Stock Exchange plc. “AFC’s landmark transactions demonstrate the important impact of their innovative financing solutions and are testament to the role London’s capital markets continue to play in directing financing to projects that support economic development across Africa.”

AFC continues to diversify its funding base to support Africa’s infrastructure transformation. In addition to its recent bond issues, AFC successfully secured a US$400 million Shariah-compliant Commodity Murabaha Facility, further strengthening its liquidity to finance critical projects across the continent. The Corporation recently received the highest AAAspc credit ratings from S&P Global (China) and AAA from China Chengxin International Credit Rating Co Limited., opening the way for issuance in China’s domestic market.

More positives around AFC and London Listed Companies

https://www.africafc.org/news-and-insights/news/africa-finance-corporation-marks-first-london-stock-exchange-listing-with-market-close

It is a complicated financing syndicate, but it has held up well over the last few years and TK is on the edge of full approval.

Whilst it has been very slow and there are many parties involved, I think it is a massive plus for our Ethiopian projects 2, 3, 4, 5 etc.

Relationships are absolutely key for first movers in a county and Kefi appear to have built a lot of strong ones

you know the share price is about to rocket when those who have had to crystalise their losses start posting such ****e.

"i will contribute, but i only lost a little", pathetic

Ratification is between AFC and the Ethiopian Parliament. Kefi will have very little involvement it it but will obviously be used to show that AFC is ready to invest xxx million into the country.

Don't remember seeing anything posted on here, but two weeks ago the President and CEO of the Africa Finance Corporation (AFC) succeeded Prof. Benedict Oramah of Afreximbank to Lead the Alliance of African Multilateral Financial Institutions (AAMFI). A positive sign.

Agreed Opportunistic,

Ratification is now due and can land at any time

Indicative / proposed offers for Saudi are now submitted and the sale can land at anytime

Certainly nothing to stress about as both ultimately outside of Kefi's control

It's an interesting one Qnard, I would say that by RNS'ing the submittal deadline they have made the whole process RNS'able.

Remember, Sunday is a normal working day in Saudi

An RNS can now land at anytime confirming the sale of our Saudi Investment.

There won't be any warning and this one RNS will decisively remove any future risk of dilution

Exciting times ahead

Stebo, I really don't know what somebody is willing to pay for Kefis 15% investment. Somewhere between $50 & $80m.

What I do know is that only serious investors who have the financial means will have been granted access to the data room. They'll have been vetted and subject to NDA's.

The spread of the offers will be much much tighter than my guestimate above.

The arms length transaction Fair Value indicates that Artars right to to buy out Kefi under the JV agreement is not designed to be a punitive measure.

To be honest, I dont really care whether Kefi receive $50m, $80m or somewhere in between as whatever is received will be enough to take Tulu Kapi into production and execute an aggressive exploration program on new licence areas without further dilution to shareholders.

That made me smile Stebo as was thinking exactly the same thing.

If Kefi are made a firm offer of £100m for their share right now by a 3rd party they can accept it, it doesn't matter if Artar have a valuation of £50m or the historical cost is £30m.

What today's deadline does is establish the £100m as Fair Value as an arms length transaction.

Artar can either meet this price and the sale occur or Kefi progress to competitive bidding process and sell to the highest bidder

By the end of today Kefi will have received indicative offers.

The best financial offer will establish the Fair Value of it’s 15% share in GMCO.

The Fair Value is “The price the transferring party would have received if it had sold all it's shares in an arms length transaction"

The Fair Value is not an average price of offers, analyst valuation or some other estimation.

So Kefi will have a best number today and Artar will currently have a number they will go up to.

There isn’t any due diligence for Artar to do and so this will be wrapped up extremely quickly.

Personally, I think our reduction from 25 to 15% was to enable this to go through smoothly for both Kefi & Artar.

At any time from Monday, an RNS could land comfirming the sale to Artar for more than our present market cap

No holding here, but still look in here from time to time.

Tom Winnifrith did a Bearcast on this yesterday & raises the idea that Crism will be the next Bio to be delisted and taken private.

Rubbish end result of AMC an a totally inappropriate RTO for the shareholders of which the founders retained way to much of the company.

Hope there is some recovery for those who bottom drawed their shares

Kefi have told us things are going to plan, so there should be multiple RNS's over the next few days

If there were hundreds of similar transactions occurring every week the Fair Value would be simple to ascertain by us all right now.

With a unique asset such as this it is much more complicated.

The indicative offers will establish the upper and lower limits, but its pretty irrelevant as the company has already told us how the Fair Value is determined.

"The price the transferring party would have received if it had sold all it's shares in an arms length transaction" (see my post yesterday)

If the maximum offer is 100m, that's what Kefi would have received and is therefore what Artar would have to match.

Anybody arguing differently has a screw loose

I don't think we will ever know who is interested or their offers.

Next week Kefi will know the fair market value of its share in GMCO and Artar will decide whether they are prepared to pay it.

It's a done deal in my opinion, we just don't know how much, but it will be substantial

From last months RNS

"KEFI has received interest from a number of parties who are now exploring the acquisition of the Company's 15% shareholding in GMCO. As a result, KEFI has set a deadline of 28 February 2025 for the submission of proposals with indicative terms"