Member Info for Crazytowner

He / She is definitely a strange one Rob.

Seems to be paying money to Tom Winnifriths Share Prophets just to diss Tom Winnifrith & Kefi.

Came onto LSE to diss Kefi, even going onto the EUA board to do this (very odd)

Incorrectly pumped UKOG as a short squeeze pre-open yesterday (it lost circa 20% then and another 15% so far today)

Wasn't there some muppet 6 months ago contacting the banks (I think we can guess who that was)

With circa 100 posts in 2 weeks, this behavior and level of bitterness must be truly exhausting to maintain (I assume driven by losing more than they could afford to lose).

I would hope that the imminent financial closure will provide whatever magnacarta needs to accept their prior investing mistakes and move on with their life.

This is not a risky play.

The funding syndicate all signed conditional approvals, all but one have finalised approval and all agreed to launch the project and have now agreed to finalise early September following their recent site visits.

The deposit is sound, the NPV is sound, the commodity is sound and I personally believe the country is a great one to be breaking into.

As for Saudi, the current fair market value of our interest there is about twice our current market cap

Perhaps you should go back to UKOG where you were promoting a ficticious short squeeze pre opening today.

I think the fact that he / she has even gone onto the EUA board posting about Kefi and TW and been totally ignored tells us all we need to know.

I'm beginning to think it's not even about Kefi and is becaise he / she has some sort of unhealthy infatuation / obsession with Tom Winnifrith.... Creepy!

There's not much point getting wound up 1P1.

Kefi is clearly progressing well following project launch with all parties aligned to crack on and get the mine operational.

The way I see it is that at around the time the school summer holidays ends, financing will be sorted and we will be 2p plus.

Really please to see positive progress here for all the ex AMC holders.

Some are obviously very bitter at the progress Kefi are making. Their posts becoming more and more desperate as we approach financial close, first draw and major works commencement.

Soon there will be the closure that they so clearly need and I hope that their mental health recovers as the postings and behaviour are not normal.

Basically,

Kefi have working capital facilities in place (no placing needed) & TK is too big to fail

Happy days

Can you imagine if Kefi announces a farm in, the share price would hit 3p.

The banks, investors, local and regional governments have all given levels of approval and aligned with major works commencing in a couple of months along with first draw down of finance.

It's quite funny that a few posters with no mining or major project financing experience are trying to knock this share for the sole reason they got their entry and exits wrong previously.

Easiest 3 bagger around in the next few months

Very happy with this update.

Thanks NW, a very relevant and interesting article for shareholders here.

HA always refers to Kefi as first cab off the rank, it seems to me that we will shortly start seeing the benefits of thsi

Absolutely Fantasy.

Most won't appreciate the level of security that countries implement as it is essential that there are no incidents around the fledgling industry.

I remember having 3 police car escorts from the airport to the site when going and returning from leave in Saudi. There was never any risk, but it was paramount that nothing happened to an expat.

Manu,

You ask why in 10 years has nobody financed it. Surely you see that with the project having launched this is now happening.

For the very few discoveries that make it to financing and survive the AIM cess pit, we are pretty much bang on the expected timeframe with our current position at the start of a substantial and sustained value growth.

The below is a slightly older article but is quite relevant for Kefi.

https://minexconsulting.com/key-issues-affecting-the-time-delay-between-discovery-and-development-is-it-getting-harder-and-longer/

I get that people have had issues with HA and his timescales in the past. What makes things different now though is that they are not only his, they are banks and governments.

Manu,

This clearly is NOT going ti-ts up. All stakeholders are behind getting the mine operational and gold is at and looks to continue to remain at record prices.

On top of all parties agreeing to project launch, the recent site visit by all financing parties has clearly given them comfort to commit to full sign off within about 6 weeks.

It would have to be a Black Swan event for this not to go ahead now, which really is an odd and dangerous thing for you to be banking your mental health on at this stage.

As to your fantasy of being able to come back on this board to say I told you so to posters .... well .... that is really going to eat you up as we all celebrate 1, 2, 3...... 7, 8 , 9, 10p + in the future

I see the usual fear mongers are working overtime

The beneficiaries of the bonus scheme most defiantly not agreed to the terms if a big raise was going to happen and funding wasn't going occur.

"STI Bonus 1: This bonus is awarded upon the granting of credit approvals by the lenders to the Tulu Kapi Gold Project. Additionally, STI Bonus 1 will only be paid when the closing mid-price of the Company's shares is above 1.5p for five consecutive trading days"

Things are progressing exactly as they should through early works and financing is a 99% certainty in my opinion

By 14th September, awesome news

COO is giving excellent open answers

Sounds like a lot is going on right now

Banks in town this week with lawyers for completion of formalities :)

A very positive statement, feels very close to full sign off

"I am delighted to be speaking at the AGM in Ethiopia today as we meet with our financing and government partners in the Tulu Kapi Gold Project to further progress the few remaining administrative matters, including the internal corporate re-organisation required to facilitate closing with regional investors. At the project site excellent progress is being made with the intense Early Works programme following the project's launch in May 2024"

The most recent raise was to firm up the balance sheet ahead of finalising the finance, not unusual.

And let's remember company advisors recently took shares as payment.

A raise seems extremely unlikely ahead of equity cash draw and major works commencing within the next few months

From the project launch RNS (Note all financing parties agreed). We know that all financing parties were meeting around now. I wouldn't be surprised if they all accompanied HA on the site visit

The TKGM Board includes representatives from both KEFI and the Ethiopian Federal and Oromia Regional Governments. This decision to launch Tulu Kapi follows deployment of dedicated site policing and the conditional confirmations that quickly ensued from all members of the Project's finance syndicate.

An updated corporate presentation will be uploaded to the company website and includes a summary of Early Works, Major Works, Key Milestones, Finance Plan and Key Economic Metrics which are summarised below.

Early Works until September 2024:

· Completion of preparation for community resettlement;

· Detailed engineering for procurement;

· Community consultations on social development plans; and

· Recruitment and other organisational development.

Concurrent closing of project financing:

· Independent monitoring over the next few months that Early Works' field activities progress on schedule under the newly established policing and related safety protection systems;

· Satisfaction of all other conditions precedent, all usual for such a transaction and mostly administrative;

· Execution of definitive detailed documentation; and

· Drawdown of financing syndicate equity-risk capital October 2024 to mid-2025 followed by debt capital.

Major Works from October 2024:

· Procurement and fabrication of plant internationally;

· Resettlement of community;

· Site earthworks;

· Grade-control drilling;

· Transportation to site and assembly of plant and associated infrastructure;

· Mining; and

· Definitive Feasibility Study (DFS) on underground mine.