Member Info for Crazytowner

"I dont believe for a second ARTAR walk away which makes the talk of 3rd party transactions complete and utter waffle"

Due to KEFI falling below the shareholding threshold, ARTAR are able to buy our remaining stake at fair market value.

The significant interest by 3rd parties will solidify and push that fair market value higher and so is extremely important for Kefi at this stage.

I also don't believe ARTAR will walk away and so it is in their interest to get this deal done quickly before 3rd parties get too involved.

As ARTAR wont need to to perform lengthy due diligence and Kefi will be able to sell their minority stake without us voting, is very possible that an RNS could land at anytime saying that the sale to ARTAR has been agreed (maybe with a small discount for expediancy)

The ratification seems to be the only remaining external factor. The rest are all within the finance syndicates control.

Parliament could ratify this at anytime and we will only be aware after the fact. Could be tomorrow or in a few months.

AFC have literally just approved it and we are awaiting a fast tracked ratification via ethiopian parliament.

Simples

You say 10 years of failure, but it's really 10 years to get to where we are which is on the verge of full financial sign off and drawdown, which is the norm for our industry.

Everybody knows it's expensive and time consuming, to expect anything different would be extremely extremely rare.

Big picture = massive short term rerate

The odd month or two from here is totally irrelevant

With the Government having approved ratification and it having been submitted to parliament already, the timelines indicated today / December appear to be achievable.

Sale of Saudi, Parliament ratification could occur at anytime and this will fly.

It is clear that the past 12 months the Ethiopian Government and both both banks are now ready and moving this forward with their approvals and actions.

You can keep whining about the past, but it is clearly moving and close to full financial sign off.

The key difference between now and the past is the third party involvement and approvals.

Bringing up 2016 as an argument against the banks giving financial approval just makes you look stupid and desperate

It's happening, it's close, this a major project... The first of many

The time frame has obviously slipped a few months but progress towards finalisation has been made during the delay.

A extra week or month... Totally irrelevant for what is occurring and the short teem value rerate here

Excellent find Bear

Capital: What is the current timeline for launching major works at the Tulu Kapi project? Are there any specific conditions that need to be met before construction can commence?

Harry Anagnostaras-Adams: The Government and the major banks have agreed to complete their essential approval formalities during this month. That will allow us to then confirm final costings for the fixed price lump sum commitments on construction and on community, get independent certification of safety and community readiness in accordance with the relevant standards referred to earlier, complete any other regulatory or legal formalities and then we commence Major Works. This is all in planned for early 2025

Whilst we are all enjoying Christmas festivities it's business as usual in Ethiopia as Christmas isnt celebrated their until the 7th Jan.

Still lots of time left for news this quarter as recently indicated.

The recent delays are frustrating as was the raise, but the rerate will still be massive and could commence at any time.

Stebo,

The anticipated share subscriptions to KEFI subsidiaries are summarised as follows:

· The Government US$20 million share subscription to TKGM

· The Ethiopian US$15 million private sector subscription to KME

· the entry valuations are based on the TKGM shareholders' agreement which provides for an internal valuation basis for partner dealings at this stage of US$174 million

It seems that the draw down order is the equity risk notes, then debt so its not particularly clear when the share subscription cash is required.

Hubstar,

The equity portion and its make up are not yet finalized with the beneficial interest percentages provided so far only indicative. These will be finalised upon funding of the projects being completed and as to whether share

issues are made at the parent, interposed holding company or operating subsidiary.

The circa 20% is being valued at £28m GBP, yet is worth about £200m at production start.

If we can sell the Saudi Asset for £35m GBP, recover say £5m GBP from Early Works and are able to charge a significant amount of our overhead people future cost to the project then there remains a significant amount of cash to retain a larger percentage of the project, advance other exploration projects and cover all overheads until production.

Was just thinking about the Saudi Sale & use of the funds.

The value anticipated exceeds the equity contribution to the finance.

Would be nice if Kefi used the Saudi sale proceeds to retain 100% TK and then float part of it on the exchange once it is a producing gold mine

Bonkers,

The size of the transaction and low price they were sold at indicates that it was a party who received shares for services rather than cash and is therefore likely to sell them on for cash as opposed to hold as an investor.

I assumed everybody here is savvy enough to have understood the gist of my post which was that the seller was simply funding their own business operations. Obviously I forgot to take you into account.

Likely to have been somebody who has received shares as fees, therefore not in Kefi as an investment

Was obviously holding the share price down for the last week.

Why sell now.... Cash For Bonuses, Cash For Year End accounts

Definitely one of the funniest 1st posts i've seen

From last months RNS

The outstanding conditions precedent of the banks for approving all detailed definitive documents are that the Ethiopian Government formally ratifies the already approved Country Membership of the second bank, the whole syndicate confirms the already drafted detailed definitive documentation and other normal conditions for mining project finance transactions. This is all expected to be achieved in the current quarter.

Excellent news for us

..... Everybody will think you have a quota to fill.

50 posts in 4 days when others aren't even engaging with you

If contrary to all evidence you don't think Kefi has moved forward and is on the cusp of finance sign off and that the security within Ethiopia and it's investability has improved dramatically, then there isn't really anything people can debate with you on.

Constantly banging on about Harry's salary and years old RNS is tiresome and quite frankly you need to grow up and get a grip this is aim in a frontier market.

Kefi is about to come good for holders with the share price needing to climb to about 7p at the start of production.

Bringing u

Worth remembering that Christmas in Ethiopia is not celebrated until well into January so it will be business as usual out there whilst we are all off and the markets closed here.

Agreed Stebo,

Whilst the ratification of the second bank is a key event, many other activities will be occurring in parallel and I don't expect an RNS for every single one of them.

Bill passed next week, our 2nd bank country membership and approval of detailed definitive documents shortly after.

The bill is the only item outside of the finance syndicates control, when it gets approved next week no reason to believe Harry's timeline can't be achieved