Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Looks like another test of that key 115p support is approaching , interesting if it holds above again it might represent a double bottom bounce opportunity for a trade to 127p .
Stupmy, looks like your 116.35p is closeby, great minds think alike ?? last time we were down near the 111.5p levels i bought over £100k worth :-)
I may rinse and repeat !
We should hold the 112p support this time on this current leg down, anything below that will be bought heavy and fast IMO
Todays Bank approval is a KEY piece of the project getting moving, the partners involved will be moving apace now IMO and i think we will see the mm,s start to price this more fairly. At end of this quarter i will be shocked if we not trading back over 1.2p levels and into the 1.2p - 1.7p trading range.
Many folks will want a piece of this given the discount to the asset value of TK let alone the even bigger Saudi play IMVHO
Proactive Investor Comments *
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has received confirmation of conditional final credit committee approval from the lead lender on the US$320 million finance package for the Tulu Kapi gold project in Ethiopia.
Other key syndicate members including lead contractors and lead equity parties had all already given conditional approval. KEFI said it is now undertaking a social engagement programme with the local community alongside detailed definitive documentation for signing between the project syndicate financiers. A full project launch, including funding drawdown, is on course for the first half of this year subject to final approvals.
Harry Adams, Kefi’s executive chairman, said: "The Ethiopian government and the lead syndicate members of our high-grade Tulu Kapi Gold Project have been working hard to support our project launch."By the end of 2023, we had updated all independent technical due diligence and reaffirmed conditional approvals by all lead members of the Project syndicate, including conditional final credit committee approval of the lead lender.
"This has now given us the confidence to trigger preparations for Project launch, including progressing the approvals by the other syndicate members, preparing security and community.”
Looks like they were filling some big orders earlier, some big buyers being filled at mates rates ? remember TK is worth multiples of current SP and their Saudi assets are even better :-) this could explode out the blocks when the mm,s let it go IMVHO
Simms ,correct this approval by the bank is they key that many of the parties were waiting for, and it now de-risks KEFI on this project ,buyers will be all over this shortly IMO when this news sinks in. It would not suprise me at all if we finish over 0.70p today and have another decent rise tomorrow. Many folks that have been on sidelines here waiting will be buying at these bargain levels ahead of an expected significant re-rate.
Im adding :-)
Super news , kefi are now significantly de-risked now IMO and are in a strong position at TK :-) remember they still hold a huge stake in this prized asset so have multiple options on the future, i think this is the green light now for a significant re-rate and i would not be suprised to see this back over 1.2p before too long .
Talk of placings are way off the mark IMVHO and if anything they could raise funds at significant premium if they choose.
Correct, and the worry is that in this current market a cash raise will be extremely difficult unless conducted at a ridiculous discount to current SP. Folks buying currently could suddenly find themselves 80% down or more in the next few months. For context RENE tried to raise funds earlier in the year but was unable and had to let go nearly half their workforce ,does not bode well for another attempted fundraise IMVHO . However i could be tempted here if it goes sub 1p
Unfortunate but that is where we are in current market conditions - its a shorters dream.
Mulder, it appears to me that there is one singular ii that literally plays this like a yoyo on a daily basis ,up 7% and then quickly down 2 or 3% sometimes within less than an hour or so. As far as i know there is not any spreadbetting / grey market shenanigans on the JSE market so its more stable.
Dont be fooled by the shakeouts ,value will eventually accrue here IMO
Mulder, the industry average PE ratio is over 10 ,we are at just 3 and paying a healthy dividend ,todays RNS signals we will be knocking on 250.000 ounces next year and on a significantly higher Gold price.Has all the ingredients for a notable re-rating and a potential T/O . Wheaton International just payed a tidy sum for a Pre Production gold asset in SA in which the market should take note IMO. A very exciting period ahead here either way :-)
Can we close above 17p today ? lets see
After todays RNS many eyes will fall on PAF ,we are primed for a T/O approach i have no doubt about that , there are very few profitable miners that are trading on a PE ratio of just 3 in the current high Gold price enviroment. There are many big miners looking for new assets to reap the gold boom
Gavster, yes a really good update, find me another profitable Gold miner trading at a PE ratio of just 3 and paying a decent dividend ,thats why we are a very attractive T/O target right now and the high Gold prices only makes this even more attractive to a bidder.
Mulder, yes we are significantly undervalued with a current PE ratio of just 3 and a divi yield of 6% ( ex-div on 30th november ) makes me even more confident this will be subject to a T/O . Not many opportunities like this around in the sector especially in a high gold price enviroment.
Im adding more :-)
Really good news update ! the next set of financials should be very good indeed and importantly the MTR plant will add another 50.000 ounces .PAF is now looking like a very juicy prize in terms of a T/O
Pan African CEO Cobus Loots commented:
“The expected production performance for the half year to December 2023 positions the Group to deliver excellent results for the full financial year.
The continued momentum with the construction of the MTR plant at the Group’s Mintails Project is again testament to our track record of bringing world class tailings retreatment projects to account. MTR is expected to commence production at the end of 2024, and will add some 50,000 oz/yr to Group production, increasing our annual output by some 25%.”
Mulder, it could yet have a decent close and lively open tomorrow,lots of shares were bought on that short dip and possibly by the very same ii thats moving this like a yoyo at moment.
We are in play for a T/O in my opinion so it could get a nice breakout soon IMO
Yes i have seen that,the gold price busting through $2000 now and they still rating us on a PE ratio of 3 ! we have an AGM in a few days and we go ex-dividend on the 30th november ,they have put out positive updates around Agm dates before so maybe those production numbers have been nicely building :-)
There must be some potential bidders out there eyeing this with stars in their eyes,one heck of a T/O even at 30p a share IMVHO
Looks like we on for a decent finish today , glad to have added more on the dip earlier :-)
Gavster, i think its more someone filling the boots before a decent dividend payout ( near 6% ) savvy investors will be adding on these opportunities :-)
Remember we could be subject to a T/O in near future ,and if so will be at signficant higher levels than today IMO
Gavster, as all the major forecasters are backing a high gold price enviroment for the foreseeable future i think that greatly increases the Aquisition and Merger activity in the sector. In terms of PAF,s attractiveness to a bidder i think they could perhaps be in the top two or three, the bidder will see a simple share register which can speed up "the paperwork ad legals" and a healthy balance sheet with a super ROE ( Return on Equity ) and healthy dividend cover. We know PAF are targeting 250.000 ounces over the next year or two and when combined with sustained higher gold prices we will see a marked increase in revenues and profits.
Like i said previously if Wheaton International are prepared to pay those sorts of prices for a Pre-Production Gold Asset in our backyard we should take notice, as we are trading currently on a PE of just 3 ( set against industry average of 10 - 12 ) and Yielding around 6% dividend ( covered 2 times ) i think in the eyes of a bidder we look a sitting duck for a clean Takeover . As a rough idea of what sort of bid would be accepted by shareholders here i would estimate something like 25p a share and something like a 3 for 10 in shares in the aquiring company would tempt both shareholders and management here IMO.
We are in the shop window for sure now and we could see this bid activity start very soon IMVHO i would expect us to see a nice uplift here before our ex-divi date on 30th november ( current yield near 6% ) .