Member Info for Crazytowner

Its been when not if for a while now, and the when seems extremely close.

AIM companies 10 bagging on finance deals is not uncommon. Add in the fact that sale of the Saudi asset removes the risk of future dilution whilst allowing the company to progress its other Ethiopian assets.

I also thought the Proactive interview seemed very calm which was extremely reassuring

A couple of the questions i asked and the replies from Kefi last week.

Question

The company had advised that Financial close and draw down would begin in October 24. Whilst I appreciate that revised debt / equity terms will cause a delay this is irrelevant as the critical item was later announced as Government Ratification of AFC.

Why should shareholders believe the latest set of dates?

Answer

It has always been possible for KEFI to fund everything itself and set the timetable. But this has not been feasible and KEFI manages the funding by 3rd parties who are providing the capital. KEFI always provides targets based on the best information available, however the pace of the 3rd party financiers cannot be dictated unilaterally, particularly being a first mover in a frontier market. As it turns out we finished Early Works and started certain Major Works in Q4-24 and then started certifications required for finance Closing, which is what is now in train.

Question

Having worked in construction for many years, I am concerned that Kefi's relaxed attitude to providing dates to the market and then missing them will translate to failing to follow construction programmes and operational delivery (Potentially putting at risk our assets that the debt will have been secured against). How will this be monitored and share holders kept updated?

Answer

Construction schedules will be independently monitored for all financiers and progress reported. We will have clear line authority to manage construction as compared to the shepherding role today pre- closing.

Haha, a perfect comparison of the RNS red dot with the National Lottery email

Chance of winning Euro Millions = 0.0000007 %

Chance of Kefi Finalising TK = 95 %

It could be ....

Opportunistic,

I had some email questions answered by the company a week or so ago that gave me the impression to me that they are now in more stable timeframes.

Frustrated that this wasn't wrapped up pre Christmas as we were led to believe, but as long as the company is progressing and we are seeing / hearing of the external party approvals of various items, then it appears to be just a matter of time

Its going to be an interesting next month DVH.

Even if we assume Saudi sells less that we all expect (Say $30m), this is more than enough to progress the other Ethiopia assets without dilution until TK is up and running providing cash and profit.

We've then got TK which when operational next year has an NPV of about 12p using gold price of $2,800 and can pay back the debt in the 1st year.

There is a massive gap up that the share price must close. I personally think ratification of AFC will be the starting point as all other parties appear to be prepared to finalise quickly afterwards.

Gold will get a huge amount of media attention when it hits $3,000 which looks like it might be within the next week or two.

There could not be a better time to get Saudi sold and TK financing finalised

I don't usually block posters, but i had to filter out bonkers / magnacarta.

Thier hundreds of posts a month on here is simply not healthy and I don't see any benefit reading or being part of their conversations

I think those are the dates the Ethiopian Parliament meets (Tuesday & Thursdays) ?

There's not a lot online to help guide us as to when ratification will occur, but Kefi must have been given a steer by government that it will happen this month

The 38th Ordinary Session of the Assembly of the African Union and more importantly...

12th - 13th February 2025: 46th Ordinary Session of the Executive Council (Ministerial Session) .....

Seems that this might be the February meeting that Kefi are expecting ratification to occur

Looking like we could see gold hit $3000 coincide with selling our Saudi interest and finalizing financial close of Tulu Kapi

Fantasy... Do you have any idea how a mine is proved up, it's travel to production and how the aim market works..???? Clearly not.

Just sit back and watch as holders multi bag over the next few months

Fantasy,

You say nothing has been delivered so far.... But in simple terms....

A company gains a licence area, proves the resource, gets a finance syndicate, gets approvals and commences construction.

Our current position clearly shows a lot has been achieved so far

Dsrt,

You either accept Kefi is moving forward or you think they aren't.

The odd few months delay at this stage is perfectly normal, especially considering Kefi first mover status.

The only thing that matters is is the company progressing

I think it is quite simple Stringer and comes down to one thing.

If you ignore your feelings towards Harry and Kefi, is there a positive environment for a gold mining company to start producing in Ethiopia?

The answer is a resounding Yes

Whether people want to admit it to themselves, well that's up to them

Now if people want to complain about Harry 10 years ago whilst the country was in civil war etc etc then that's their choice also

.. ... But..... Kefi establishing itself as THE MAJORmining company in Ethiopia over the next few years... WOW

Dsrt,

You say no, bank approvals signed, yet they have credit approval and terms agreed

You say no gold, yet massive resource perfectly suitable for off takes if necessary

You say no help from government, yet security in place, infrastructure commencing and ratification fast tracked

You say no major works, company disagrees

All of the items are clearly progressing to yes and signatures over the next couple of months

Rewards for shareholders are absolutely massive at that point

People only need to look at the past 12 months, they will see

Country foreign exchange controls changed

Early Works launched

Early Works completed

Government involvement

Banks credit approvals

Ethiopian Bonds

Major Works elements started

Gold price on a mission

Imminent Saudi sale leading to no dilution again

Imminent full sign off

But yeah, you keep looking back 10 years and moaning, lol

A trade of 777 just went through at 0.5

This is recognised as a signal to move the price up

He clearly has cultivated a good relationship with AFC as they have approved the funding and updated terms.

We are now waiting on the Ethiopian Parliament ratification which is outside of Kefis control

Gold just hit $2870

Saudi sale and Tulu Kapi inancial close within the next 8 weeks

People are going to make a lot of money here in my opinion

The RNS was very positive and everything is on track

The revised terms are finalised and bonds meet financing requirements

Not sure how there are over 100 posts about it.