Member Info for Drewton

My recollection was that the joint venture relates to Exploration Licence EL08/3497 in Western Australia, an area considered prospective for mineral discoveries. Under the agreement:

Global acquired an initial 70% interest in the licence for £200,000 and Callum Baxter retained 30%.

Global received a 3-month option to acquire a further 10% interest for £50,000, which would increase its ownership to 80%.

The company subsequently exercised that option in September 2024, increasing its ownership to 80% while Baxter's interest reduced to 20%

I've attempted to comprehend what "Bitcoin" actually is .. along with all other versions of the same 'etherium' etc.

If I am unable to touch and feel something .. then I'm not going to invest in it .. even shares in the AIM are governed by rules, assets etc irrespective of risks involved

Also .. I can't comprehend how Bitcoin goes up and down in value

I'm sure I'm just stupid and cannot comprehend something very simple that can be understood by an infant .. explanations are welcome and invited to help me be "less stupid"

:-)

Gold is not taking a hit ... it's reached new levels over the last few years ... it's currently flexing the price like everything

I prefer flexing gold prices based on a commodity you can buy, touch and feel as opposed to crypto

KEFI are sat on something you can ultimately touch and feel .. and then mine and sell

From what I see ... ORR is pursuing licenses for their two primary assets on a different timelines

1. Bibemi is most advanced. Oriole secured a pivotal approval for its Environmental and Social Impact Assessment (ESIA) from the Ministry of Environment and also completed a Preliminary Economic Assessment (PEA).

If current negotiations go smoothly, their formal mining license could be granted by the end of the year

2. Their Mbe flagship asset appears targeted for 2027 or later.

This project is still in the resource-expansion and exploration phase and they must upgrade these to "Indicated" resources, complete technical studies and submit a separate ELA before a mining license can ever be considered.

For me .. it's £2k investment to leave for a few years .. hopefully not too much dilution .. or a mining JV

We seem have people deramping by creating imaginary delays / problems

These are the leading Tier 1 & Tier 2 contractors in the region

Tier 1 — Proven track records

Lycopodium, DRA Global, Hatch, Worley & Cementation Africa

imho strongest contractors for Ethiopia and surrounding regions; and all these firms are acceptable to international lenders, development finance institutions and mining investors.

Tier 2 — Strong African Mine Builders

BCM Group, Moolmans, PW Mining,

These companies are often selected for open-pit mine development, mine fleet operations, earthworks, roads and tailings facilities together with site infrastructure

I'll be adding to my KEFI investment in July once I have funds are available

I've just received secure messages from AJ Bell

KEFI Gold And Copper Plc has announced details of a transfer of listing from AIM market to the Main Market of the London Stock Exchange (LSE). This transfer is expected to take place in 2027.

The Vanilla Phase?

People think that delivery of a project is complicated - it's not - it's like riding a bike .. and yes, things can go off track but invariably nothing than cannot be corrected

I was involved with the delivery of gas fired power stations - the minimum value was £500m .. and all were contracts based on lump sum / turnkey delivery

None of the contractors were phased by delivery issues or long lead periods .. for example gas turbines were widely known as taking 3 to 7 years from date of order

The same applies to mining .. anyone who appreciates the phrase 'vanilla offering' .. it just adds comfort .. using an automotive analogy .. think VW golf / toyota hilux etc

I'm now waiting for someone to say how an alien invasion will decimate KEFI .. and they have opened a 'short position' accordingly

:-)

Link please

:-)

I think you meant 11m.45s

Ask yourself this one question / do the calculation

take the current shares in issue as confirmed in today's RNS

then consider what you believe the market cap of KEFI will be in "X" years time ..

divide the your estimated market capital value by shares in issue .. that will provide you with a simple indication of your share price

after that .. then you start applying all the market influences ..

I'm content with my investment in KEFI .. I'm sat with 4m shares .. no extra funds until July

I'm sat on a loss at the moment .. why? .. my only annoyance is with my own inability to buy on the real dips ..despite my initial investment being below 1p

Fundamentals have not changed .. recent RNS was good .. there's going to be gold production in 2 years ..

gla

Seen this type of market shenanigans so many times now

in essence .. it's now very binary .. there will or will not be a mine producing gold in a couple of years time

my regret .. not timing my buying correctly .. pfft .. but heyho

My only annoyance is that I didn't see the last placement coming .. and bought more just beforehand .. so my latest entry point means I am sat on a loss even balanced with my sub 1p purchases

The fundamentals .. the mine .. production .. etc .. I'm good with all that together with my investment as a whole

Patience is the key .. KEFI is NOT an explorer who is simply drilling and hoping to find something ..

It's progress ..

why on earth are people so critical .. I'm invested ..

I was a bit annoyed I bought a boat load more just before the recent placement .. but stuff happens .. and I didn't see it happening

BUT .. the mining will happen .. and income will be generated eventually .. and in investment terms .. a couple or three years is fine for a penny share with some promise ..

people should stop being impatient / greedy for profits

Thanks for your observation @GoldGeezer

I appreciate the risks .. I did vote to approve those resolutions ..

I see the benefits as I shared in my earlier comments about the confirmed resources -v- and the company not being a lets hope and dig operation

I get that @GodofHellfire .. and some more than others as we all have come to know

Reading the latest voting instructions that I have received for the 2026 AGM to be held on 11 June 2026

Items 10 & 11 are as follows:-

10 > TO AUTHORISE THE DIRECTORS TO ALLOT EQUITY SECURITIES UP TO AN AGGREGATE NOMINAL AMOUNT OF GBP 1,250,000

11 > TO AUTHORISE THE DIRECTORS TO ALLOT FURTHER EQUITY SECURITIES, IN ADDITION TO RESOLUTION 10, UP TO AN AGGREGATE NOMINAL AMOUNT OF GBP 1,250,000

£2.5m of further equity securities for a company with a market cap of £14.8m

My view is there is lots of potential for those with some patience

This is not a typical “dig and hope” explorer as they have:-

Excellent geology

A genuine >1M Oz discovery at Mbe

A near-development 460K Oz at Bibemi

District-scale upside with a funding partner

My caveat …

There's likely to be dilution

Only 50% ownership of the best assets

What can be described as frontier jurisdictions

no real pathway to self-fund development

imho etc gla

We look forward to any feedback you can provide

SNC advised BP to acquire 60% operating interest in PELs 97, 99 and 100 in Walvis Basin

https://theextractormagazine.com/2026/04/22/snc-advised-bp-to-acquire-60-operating-interest-in-pels-97-99-and-100-in-walvis-basin/

here is a very hypothetical view of kefi in a few years time .. once production is established etc .. there are others that a the comparison can be made against

i used ggp for my "back of *** packet" comparison .. i assumed kefi is may be as successful .. neither positive / negative .. just a view

ggp .. circa £7.50 / 672m shares issued

kefi .. circa £0.015 / 13.72b shares issues

assuming kefi may be as successful as ggp .. kefi share price should be circa 20x less than ggp price which equates to 37.5p based on the current share issue

feel free to criticise .. and i would accept there are so many variables .. but .. for me *** packet calcs do help me put things into perspective and context for what the current share price means -v- what is 'might look like' in years to come -v- established operators making a profit etc

for me .. it's just another sanity check / checksum of what may / may not be possible