Member Info for dogstar

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

We dont even know the terms of the bank loans, i would expect quite high interest rates secured against all Kefi assets.

Kefi built a school according to a slide!

But did they??

How many families have they relocated to new homes and farms?

What percentage of the roads needed have been started?

When does the bridge over the Birbir river become available for heavy goods?

In reality wanting for drawdown i assume

The broker is not going to say placing soon are they.

Its in their interest to "ramp" this to achieve maximum commission during book build.

Cannot see where the cash is coming from for all the preparatory works in RNS, unless its a very careful and slow implementation until bank drawdown

A company detailed presentation such as the one just released normally preceeds an equity raise, Harry meeting potential investors to give them the hard sell?

Anyone for shares at a penny next week?

Roads, Bridge over the Birbir, Electric and cost of compensating (500?) households all apparantly hapenning to allow real work to begin next year.

Costs are all in DFS at 2015 original project values.

It is amazing how effective a conserted ramping campaign can have in driving up the share price.

I always feel for those that get caught out in the pump and dump. Been there and suffered

Or Harry will take the oppurtunity to do a placing at these pumped up prices

Expectation of November

The Company expects to convene a general meeting of shareholders in November 2025 to approve certain elements of the Tulu Kapi project finance package requiring shareholder approval,

The Company expects to convene a general meeting of shareholders in November 2025 to approve certain elements of the Tulu Kapi project finance package requiring shareholder approval, such as the debt package requiring approval under KEFI's Articles of Association. Further details will be announced in due course.

Yes when HAA says November, we know he means hopefully January