Member Info for Crazytowner

Nice move

Spoken like somebody who owes kefi 250k, lol

Everything is clearly coming to a focal point in March

Going to be one hell of a re-rate soon

Happy days

Looks like the distressed seller is now out

Should see a climb back from here

We have been told that the remaining US$30 million is being finalised with certain Middle Eastern and other sectoral investors. No reason to doubt this status and we know there is plenty of money washing around there at the moment.

So lets assume your worst case scenario and Kefi only get 20m. Lets add back in 5m for TK Early Works and take into account that a significant amount of Kefi's future costs will be project chargeable. The 25m will enable 2.5 years to progress our other Ethiopian interests, after which TK starts providing.

At the end of February Kefi will have an indicative fair value of their 15% share based upon submitted terms and expert valuations.

As we both agree this is going to Artar, this would be their opportunity to aquire our 15% because it is only going to get more expensive once competitive bidding from other parties progresses.

We all know that aim is a cesspit with funding being extremely dilutive, making it very difficult for companies to increase in Value.

When Saudi is sold and the worry of the next raise evaporates this will very very quickly rerate to a respectable value based upon TK, our cash and other licence areas.

At the end of February Kefi will be able to go to Artar with the market value based upon arm's length transaction to which they will either pay or we move to competitive bidding.

I don't see Artar passing on taking full ownership, so expect this to be wrapped up early March

Based on the broker valuations, Kefis response to my email regarding the 15% now being worth more than the 25% a year ago, that there are multiple parties in the data room and the short time frame for indicative offer terms, I am expecting around $50m. I really don't care if it is up or down either side as it is what this enables / ensures for shareholders rather than maximum profit from the sale.

The sale of our Saudi asset will end all further dilution to Kefi shareholders and enable them to advance their other Ethiopian projects quickly to the point that TK has paid back financing and is dividend paying

5 likes within 5 minutes at 6.30 in the morning for a completely BS post.

So sad that you have to use multiple accounts on here

Meanwhile gold is at all time highs

Yes, this was an emailed question.

Kefi have always been good at responding to shareholder questions

Some good questions asked and answered in the Q&A.

I emailed asking why didn't Kefi sell the 25% earlier and received the below which I found very interesting.

"The value of 15% today is judged to be higher than 25% a year ago. This is a commercial judgement of the Board for a combination of factors, both external and internal"

This would imply that we are now in a hot market with competition for our stake which will drive a premium price

The latest Edison report values our share at a conservative $50m (Before other licences and latest drill results)

We know that there are already multiple interested parties in the data room and the short (End of Feb) time frame for indicative bids indicates that Kefi expects multiple submittals.

I think this will go to Artar at a slight discount to the best bid in order to wrap it up quickly

My share price prediction equates to less than 50% of the NPV at construction start.

With a more favourable gold price and the Saudi cash available to progress other Ethiopian assets with no fear of dilution 5p would be on the low side

If Kefi meet their deadlines then at the end of the year we could be 6 months away from production, have 50m in the bank and gold over 3000.

Id be expecting above 5p

There is clearly a lot of interest in our Saudi Assets and we will make good money on their disposal, however, the smart time for Kefi to have sold was 6 months ago when we had 25%. The same suitors would have been around Q3 2024.

We'd have made considerably more after having paid our share of the years costs and we'd have avoided the recent painful dilution.

Harry's / the Boards ego to be in both jurisdictions has cost shareholders money.

You have to laugh at Magnacartas / Bonkers bizarre view of the Saudi Sale

The Interims are pretty clear on it :

"if a shareholder's ownership stake falls below 25%, the remaining shareholder has the right, but not the obligation, to acquire the interest at fair value. "Fair value" is determined as an estimate of the price the transferring party would have received if it had sold all its shares in GMCO in an arm's length exchange, driven by typical business considerations"

At the end of February the interested parties will have provided a solid basis of the value based upon an arms length exchange!

Its quite simple. If ARTAR want our share, they will have to match the best price.

I don't think it is lost on anybody how overnight 20 posts a day Magnacarta was replaced by 20 posts a day Bonkers.

Per Bonkers weird logic :

Kefi have 10 serious interests of say $100m each yet a valuer say the fair market value is only $75m,

It is clear that the valuation is incorrect and that Artar would have to meet the $100m

On the 28th Feb, KEFI will know the fair market value based upon the expressed interests

The fair market vale will be driven by whatever serious offers entities are prepared to make.

The fact that Kefi have put such a short deadline for expressions of interest (which includes indicative terms) shows the large amount of interest being expressed in our share.

Whilst Artar have first refusal, it is at market rate. So they can either wait for competitve bidding and then have to match the highest bid or make a decent offer now

Lookinf like it will all be wrapped up very soon