Member Info for Forcella

Nice work if you can get it...

BBB, It's 3 months next week since the funding was secured; they've done no communication outside of the AGM in that time.

LoA - any evidence of this saying pending finance? I have it showing as Active as far back as 2021 from previous screenshots. There's also no reference to MOM\LSML\81\2015 on Google that shows anything other than Active since it was issued in 2015?

Weird as you posted pretty much the exact same a year ago minus 12 days:

TKGM Licence 13 May 2023 08:47

Sorry if this has been posted before. Searching for company licences on the Ethiopian mining applications portal. Our loot now comes under Tulu Kapi and not Kefi with a status of “Active” not “awaiting finances” as it did before. All looks promising here. GLA

Those warrants are very very generous, 1 to 1 at 3p...

How have you copied a load of negative posts from the telegram group onto here, then said the group is a perfect example of groupthink?

Surely those two things are at odds with one another?

You missed this part when copying my post:

"the Project's lead financiers have promptly initiated their internal approval processes for Project debt financing"

Kempey, that was Wyloo's initial investment a year ago. See RNS Funding secured for development of Havieron - 12 September 2022.

And it won't be a resolution we can vote on.

They'll say force majeure conditions again and roll them over, I'm convinced of it.

Would be joke if it got rolled over again but I would not be surprised.

$500k for HAA and Leach for Tranche 1, $500k at each of tranche 2 and 3 for HAA:

Tranche 1: Entering into a senior facility agreement for the TKGM Project and receipt by the

Company of at least $20,000,000 of funding for the Project (Funding no later than 31st December 2022 (this date was extended from 2021 due to force majeure conditions in Ethiopia). Additionally, Tranche 1 will only be paid when the closing mid-price of the company’s shares is above 3.0p for five consecutive trading days

Tranche 2: Completion of the Project within the Project budget approved by the senior lenders. Additionally, Tranche 2 will only be paid when the closing mid-price of the company’s shares is above 4.0p for five consecutive trading days.

Tranche 3: Upon the sale and physical delivery of 35,000 ounces of gold equivalent.

Additionally, Tranche 3 will only be paid when the closing mid-price of the ompany’s shares

is above 5.0p for five consecutive trading days

Mike, pathetic post as usual. No disagreement with what I said then?

Back from your ban for more r4c 1sm Mikey?

What's happened in the past year in terms of tangible progress, we've had an unexpected 2nd "Umbrella Agreement"(mainly due to cost inflations) and a Finance Plan. That's it.

No progress from the EG side has been made in terms of signed agreements. Security is still up in the air, and they've still not agreed for profits to be repatriated out of the country.

I continue to hold as I'm invested for Saudi, TK will happen, but will take longer than Harry wants people to believe. Harry saying definitive agreements signed in June in that Master Investor interview is xollob.

Good luck to all non b1g 0ted holders.

The problem is Mafs, we said the exact same last year and nothing has happened. We need to see some commitment from the EG in the next few weeks.

It was rubbish, especially compared to the presenter before him. Only important takeaway was in the Q&A where he said signing in June.

For anyone wondering the comment by Mike / The Bishop to one of members was “Another Asian see you the day after Monday mouth”!

Fill in the days yourself

speak for yourself, i’ve never and will never speak any of the ****** diatribe mike prior / the-bishop came out with today. inexcusable, disgusting behaviour.

Race then ist

was that before or after your ****** outburst in the telegram group mike prior?

The quote you posted states that the warning was months ago, i.e when the old minister was still in position. If he was sacked a month before the article, months (multiple) is before that.

This minister seems to be more on board than the old one from what I can see so far, this is from a Kefi tweet on Feb 27th: "Minister of Mines His Excellency Habtamu Tegene "The regulatory issues left are small compared to matters already resolved, the workshop shows the upbeat attitude of everyone. Our objective is making a 21st c. project in finance, community, environmental, social & technical""

That doesn't sound like he would be threatening to revoke the licence to me.

Q59: On the Tulu Kapi financing, how long following the financing close will funds be expected to flow?

Please listen to Q11 answer

Herein we seek to explain why things that are already “decided” can take several months to “implement” and funds to flow.

Our project finance advisers report that currently around 10 such mining project financings are completed globally annually. The finance closing steps will vary a little from project to project but the overall pattern from this moment (at TK) on is much the same. (having lifted the project suspension and agreed the plan in 2022 and now that all parties have formed launch teams and agreed a launch action plan), along the following lines:

1. Satisfying security standards and the few remaining Government facing regulatory matters required for signing definitive agreements – in progress.

2. Then give the lenders time for their next-level internal formal approvals

3. Then trigger equity drawdown procedures for regional investors and then the PLC. The multinational corporations involved as regional investors will take a similar amount of time as it takes stock exchange procedures for KEFI or any PLC

4. At KEFI we have to issue notices, conduct formal meetings and then allow warrants exercise procedures to be followed.

At KEFI we coordinate all these steps, firmly , clearly and in great detail. We do not publish the detail vis a vis all parties and processes. But we highlight material factors as best we can.

Q60: In Ethiopia, what communication has occurred between the EG and KEFI in relation to outstanding items precedent to closure. Is the government keen to progress or are they focused elsewhere?

Listen to the answer for Question 9.

KEFI will update the market on the progress of TK funding via RNS when appropriate.

Q61: Why not all questions are answered?

These are some reasons:

• Making a statement rather than asking a question
• Breach of commercial-in-confidence
• Disclosure would be detrimental to the interests of shareholders

END