Member Info for dogstar

Xhita

The church is important part of peoples lives.

Ask your contacts if they have moved the church and graves on the mine site to a new accesible and suitable location for those affected by site clearance.

Respect to kefi if they do the right thing and allow a basic need to worship in their church to continue

Xhita

The timelines are clearly laid out in the presentation of 7 th April of this year.

Roads and electrivcity all done by q4 26

(We were told in 2019 that government were doing them for a $20M contribution)

Relocation of 350 households started in quarter4 25 and will finish in quarter3 26, 12 month timeframe

(So all complete before the rain stops in 3 months)

Lycopodium are due to start civils after relocation/ October.

Bulk earthworks due have started this past April Quarter.

Best you keep believing.

Is the mill coming from China? Order Lead time?Though Eritrea?

I might invest when there is something tangiable on site, like a mill a CIL plant or a gold room.

It will not go in the SIPP, too late for that, i am retiring in 5 years

The point is as an investor in Nyota, i paid for that school.

In 13 years ,since Harry bought the resource the shares I received that were worth 3p shares at the time have been subject to a 17: 1 consolidation and continued dilution.

Should i be happy with 2p for a £.

Not forgetting Melissa from Perth CEO at Nyota also destroyed value before Harry seen the potential to carry on the game.

AIM mining companies!

Learn and get out!

I blame Harry. 🤣

Xhita

No one more blind than those who do not want to see.

My post was not about equipement or it spec.

It was about the risks of achieving the separation between ore and waste. Clearly I highlighted the 2 year action plan to reduce this risk.

In the Nyota days, it was a 2M tonne a year plant for 100 000 oz per year. Very little extra drilling for 15 years, just a few re evaluations on paper.

In a few years we will see the reality, that might be the time to invest again.

I see you are using the "owners model" ie Harrys

I prefer the DFS numbers and the banks.

• Plans to be producing in 2027; approximately 1.0 million oz (average approx. 140Koz Au per annum) from the

open pit over the first seven years plus an additional c. 200Koz (average approx. 40Koz Au per annum) initial

contribution from the underground mine beneath the open pit in production years 3-7. Rather than extend the

initial production profile beyond 7-8 years, the plant throughput has been adjusted by 20% to absorb the

combined mine output.

It has been quite clear that the lodes or "lenses" in the Nyota days (when i had a decent holding here 15 years ago) are quite variable in size and shape and not easy to define. Hence the workplan for 2 years pre production stated below.

Open Pit Mine Planning Next Steps

KEFI plans the following mining related activities to be carried out during the two-year operational readiness and

construction phase prior to plant commissioning:

• Further refine project execution and risk review with key stakeholders (e.g. PWM, AEL and Lycopodium)

• Finalise binding schedule and pricing for contract agreement with PWM to allow procurement of long lead

mobile plant to be initiated and recruitment and training programs to be implemented.

• Infill RC drilling program on closely spaced 5 m by 5 m grid, where required, to improve knowledge on close

spaced grade variability and lode definition. This program aims to achieve high confidence grade control

definition of the first 12 months of production.

• Develop grade control models for detailed mining planning covering pre-production phase and first 12 months

operational phase.

• Develop operational-level detailed short term and medium term mine plans using updated modelling from the

reschedule the mine on refined wire-frames.

• Implementation and commissioning of fleet management and precision guidance systems.

The challenge here is to all about mining efficiency, the mix of bulk mining and selective mining to achieve the stated head grade with minimal mining losses and volumes of 2M tonnes a year for stockpiles is a serious challenge.

A high quality and skilled operation needs to be delivered by contractors with strong support from owners.

Ultimately the proof of the pudding will be in the eating. One suspects the baking may take a while

Xhita

Really, so you believe that level of production will be achieved. The revised DFS was a wonderful piece of fantasy.

I am glad of that placing because unless the world stops spinning in 2 years we are in full production.

You must be new here, things happen very slowly under Harry's leadership.

Before any meaningful construction can begin and contractors start their program, you need to relocate 350 households.

Lets wait for the 1st household relocation to be confirmed and then the momentum to complete that phase before we get to excited and start the clock.

I suspect Tulu is greening up nicely with newly planted crops at the moment as the heavy rains and the main growing season are commencing. Shame to move anyone out pre harvest. No rush

The 250 households and farmers have been relocated today ahead of the growing season?

Has the access road and bridge over the Birbir complete? Can heavy plant equipement get to Tulu even if ground conditions allowed site works?

Simple important questions

The rampers on here just expect things on time and to budget. History tells us not to get our hopes up.""

..............

So the simple answer to the 3 questions posed above have been answered in the RNS and basically it is work in progress. I apologise for being a hundred light in the number of farmers needing new homes but it would seem that the difficult relocation has yet to begin. Work cannot materially start until it happens, roads are built to allow access and it is raining. I am not precious about electric.

Conclusion, behind schedule

As not even a spade has gone in the ground at Guji in the last 14 years that Kefi have been faffing about I would think it likely that prospecting license has been forfeited, do we know.

My point was that Nyota spent too much cash on drilling proximal targets, kefi have just done some book work as far as i can tell to improve the numbers.

The point as we enter the rainy season is how many of the 250 households and farmers have been relocated today ahead of the growing season?

Has the access road and bridge over the Birbir complete? Can heavy plant equipement get to Tulu even if ground conditions allowed site works?

Simple important questions

The rampers on here just expect things on time and to budget. History tells us not to get our hopes up.

Https://www.proactiveinvestors.com/companies/news/21239/nyota-minerals-identifies-new-gold-trends-and-exploration-targets-in-ethiopia-25311.html

Guji showed a bit of potential and a resource declared but a fair bit of effort for little return.

I am sure Harry will get excited and do another placing in time to line pockets

From kefi website

Sp Angel are the nominated advisor which normally means they read/ write/ approval the RNSs.

Basically paid to do a job.

Also help with placings and reap commision

Nominated Adviser and Joint Broker

SP Angel Corporate Finance LLP

Thats probably because she knows it will be 4. Harry frequented her bar before and been full of chat, perhaps!

350 farmers to move off site but cannot start until all finance agreements signed.

Hopefully by the end of 26 we will have electric, a bridge over the Birbir and an access road subject to decent progress during the rainy season and continued full support of the Ethopian government departments who are scheduled to deliver

Usual for Kefi to raise cash at end of company year end to get balance a little better to convince an auditor to sign accounts of as a going concern.

The last RNS came across as "thou protest too much".

Who were they trying to convince that this is a done deal? The 2 banks, us the shareholders.

Why set out the numbers at 3 different gold prices?

I would of thought any sensitivity analysis should have been done at different production levels, rather than taking for granted that maximum productivity is a given.

Anyway looks like bank loans to cost $70M a year and gold stealing arrangement and ethio bonds cost $40M a year or so, if they are signed. Hopefully gold production comes in something like the promises.

After adjusting KEFI's issued share capital for full dilution to account for the recent fundraise, unexercised warrants and options in issue and the potential issuance and exercise of already authorised, but as yet unissued incentive share options;

Many ways to line your pocket.

The loans are agreed and can only be signed off and drawn when conditions are met.

As announced on 20 October 2025, US$240 million debt offering had been formally accepted and certain fees and costs already settled from funds drawn under KEFI's working capital arrangements. The detailed facility documentation is now in circulation for signing. KEFI has already commenced the process of satisfying the various industry-standard requirements for drawdown under the debt facility agreement, the first of which is to assemble the equity-risk-capital of US$100 million. The remaining requirements for drawdown are expected to be satisfied during H1 2026.

Roads and electric shpply to be completed by end 2026 at earliest. Going to relocate 350 farmers/ householders one day.

Lots of executation risk here threatening to disrupt the gravy train for the directors, but no doubt that risk is diminished if sign is pushed back on each element of funding.

Thankfully twice yearly placings keeps the cash flowing to cover salary, expenses, consultancy and the like

Wonga on steriods

Love a placing at this time of year dont we 'arry

2 December 2024

KEFI Gold and Copper plc

("KEFI" or the "Company")

Issue of Equity

Capital Raise of up to £10.6 million

Firm placing, conditional placing and conditional subscription to provide gross cash procceds of up to £5.5 million for KEFI

and

Retail offer through PrimaryBid to raise up to £500,000

and

Issue of equity to extinguish c.£4.6 million of liabilities