Member Info for Crazytowner

As I mention a few days ago, the share action group seems to be waiting for the company to decide what to present and appears more concerned about the historic transaction tax treatment.

It doesn't seem to have a plan which is why I (a 2% holder) have chosen not to join and continue to email AMC and the Nomad directly.

Found this one, seems to be an avenue under minority protection & remedies

https://www.ogier.com/news-and-insights/insights/bvi-companies-rights-and-remedies-of-members/

MD,

Do i remember correctly that you posted a link for how shareholder can wind up a UK business?

Have you seen anything for a BVI one?

It's absolutely disgraceful

It could be a very interesting day tomorrow.

If AMC publish the admission document then it appears the share will come out of suspension

Its not uncommon for recruiters not affiliated to the company to take adverts and post on their own sites in order to lock in personnel and put them forward as a good candidate for the role.

As 1plus1 has said. This recruiter appears legitimate.

I personally put the short application time frame down to the need to get interviewing asap as this financing is about to be approved and the project kick off

Worth revisiting Proactive Interview from a week ago

Financing designed around a gold price of $1200, currently $2300

All on course for sign off end of May24

Saudi drill results to be reported on soon

Add in that that the recent raise provided a strong financial / cash position and the company is now recruiting the project team

Looking to be a good month for shareholders in my opinion

Good find sharezy,

With applications closing today, i'd expect offers to successful applicants to be made tail end of May.

Offers would not be made without surety on financing and project launch.

This ties in with the recent interview stating end of May

I think waiting to see what the RTO is like is a mistake, as is mixing any future RTO action up with a historic tax treatment that affects very few (most will hold in ISA's)

If you are simply going to email your thoughts on the RTO to those who's personal details you now hold, surely you might as well have just posted them on here because at that point all you can do is vote.

As far as I am concerned there should be a choice of 2 options, vote for the RTO or vote for winding up the business immediately and distributing the remaining funds.

There is plenty out there to use to apply pressure to both the company and nomad to try to get such a voting option (I have done / am doing so)

- Corporate Strategy failed

- RTO completion failed and residual sale cash not distributed (Stated by company when shareholders voted on sale)

- Clearly no acceptable RTO's out there as all mineral sector ones vanished and RTO has not been completed)

- Money wasted on salaries, fees, & consultants since it became clear no acceptable RTOs

- No update on Directors fees being reduced considering the massive time savings since the completion of sale

- Change of sector demonstrates BOD have no interest in being involved in AMC going forward

- Huge share purchase prior to suspension, disclosable as over 3% (confirmation that these shares will be excluded from any future vote)

The list goes on.

SB,

10th of Jan was a conditional approval, the extract i posted below states ratification in Feb, whether that is at the beginning or end is irrelevant.

The syndicate members will be aligned with the road map and therefore comfortable with document validity dates to facilitate their sign off.

The alternative is that Kefi are putting out RNS's which don't align with syndicate members and that the syndicate members have no idea what documents and validity their credit commitees require.

This is clearly not the case as the lead bank has approved and a large MNC has received its initial board approvals.

From the GM statement a month ago and the recent interview, it is clear that the lead bank approval kicked off all other parties. So we are about 6 weeks in on a clear roadmap.

In October 2023, the National Bank of Ethiopia (the central bank) approved essential exemptions from exchange and capital controls. This satisfied the third of the three critical conditions precedent for the syndicate to proceed, as had been foreshadowed. Then, in December 2023, the lead lending bank, Eastern and Southern Trade and Development Bank, a key member of the financing syndicate, gave final credit committee approval for its US$95 million project loan. This was also ratified by its country-members' board in February. The other members of the syndicate, being the co-lender (US$95 million) and the equity risk note investors (US$100 million) (all major regional corporations) duly activated their approval processes. A longstanding and a large MNC investor in the Equity Risk Note ("ERN") has now received its initial board approvals.

The steps now underway to progress Tulu Kapi funding package are:

· Finalisation of approvals by the rest of the financing syndicate following the recent approval by the lead bank;

· Preparation of the community for resettlement;

· Satisfaction of conditions precedent such as readiness of security, insurances, title confirmations, perfection of banks' security and similar formal documentary requirements; and

· Completion of detailed definitive documentation which will require all syndicate parties to approve counterparty rights and obligations, among other things.

After approval by all syndicate members, we can then proceed by mid-2024 to:

· Sign the Definitive Documentation between the respective syndicate counterparties;

· Place insurances and complete other administrative tasks;

· Draw down first capital, starting with project equity and then debt months later;

· Commence staged resettlement of approximately 350 households near Tulu Kapi; and

· Begin procurement and tendering local sub-contractors.

We are following this clear roadmap, and we will report material milestones along the way.

Absolutely nothing unusual with the time being spent by the 2nd bank.

A few months is irrelevant for them when signing off tens / hundreds of millions on decades long projects.

95/5 in favour in my opinion as lead bank and government have already approved

FiveCandles, thank you, that's given me the best laugh on these boards for a while

Give it a rest FiveCandles, you are embarassing yourself

NickE, agree completely, a very sensible post

Real value for shareholders is in Kefi advancing its projects through to production, although i have no doubt that there will be some good profit taking opportunities along the way.

Larger companies may decide to purchase a Kefi asset or even the business as a whole, but when this might happen will depend upon multiple factors including how de-risked a project is.

Along with many here, I agree that getting TK financing signed off and construction underway is the catalyst for change in the company.

The last placing was disappointing considering what we had been led to believe , however, the last thing the business needs is any cash uncertainty over the next 6 months

From my experience whilst mining in Saudi, companies must be very careful of what they release in countries that are new to opening themselves to foreign firms & investment.

The fact that Kefi is continuing to progress with a consortium including the government, banks, MNC's etc. shows that they are clearly getting it right

Good summary Rob.

I found the Q&A informative. They answered the questions openly and clearly.

Everything seems to be moving along pretty nicely

Its a very positive RNS as details both actual progression and financing cost savings.

Things haven't quite happened as quickly as we were led to believe last year, but it is definitely getting there