Member Info for indi123

The RNS from 24 Aug 2018 states the following :

"The initial subscription of US$9 million (of the US$30-35 million) will be set aside into a locked account, with settlement commencing 31 August 2018 and completed no later than 30 September 2018 along with commitment to the full amount being invested by year-end alongside full project finance commitments. The ANS Resources founders’ US$3 million subscription has already been committed.
Disbursement of the initial subscription funds is earmarked to commence any time from October 2018, to fund TKGM’s project finance closing costs and the first phase of the Tulu Kapi community resettlement, when triggered by the Regional Government of Oromia in consulation with TKGM. TKGM plans to use these equity funds for the initial project expenditures, with debt drawdown to follow."

Are we still waiting ??

Seems ANS are struggling to get the monies. Hence the African Banks coming in on the scene with the last RNS. Suspect ANS have been given a deadline . If ANS aren't able to get the funds, another source of funds will need to be found - perhaps the African Banks. AIMHO. This could mean a further delay - perhaps there is a Placing coming up.

Qalibashi - BHP have just bought another 5% of SOLG. See RNS at 09:32 this morning. BHP now have a slightly greater share in SOLG than Newcrest's 14.7%.

The comment :
"Director of ANS Mining, Ato Demissie A. Demissie, commented, “ANS Mining is pleased to
be working alongside KEFI and the Government and is ready to proceed with its US$11.4
million (Ethiopian Birr equivalent) subscription to TKGM for the first stages of the Project......." is from the following document and was published back in June of this year:

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.kefi-minerals.com/files/announcements/kefi-tulu-kapi-project-update-28june2019.pdf&ved=2ahUKEwiU7rXvwtrlAhUxQUEAHe3TDWIQFjAAegQIAxAB&usg=AOvVaw3L_uXbDfPYJ2Xjhw-27KAp

"Once these closing requirements are confirmed to ANS, TKGM expects to receive the initial US$11.4 million (Ethiopian Birr equivalent) subscription. This will place TKGM in the position that all three of its shareholders (KEFI, Government and ANS) are contributing to the equity funds being used to kick off the 2-year development program. KEFI and the Government are already contributing. The local Government has approved the community compensation and TKGM is preparing to trigger the development program in April."

'Trigger the development program' RNS should be early next week if everything is going to plan.

https://www.*************.com/views/41171/kefi-minerals-placing-as-intention-to-trigger-tulu-kapi-at-end-of-current-quarter-reinforced-buy

If it is still Lanstead selling in chunks, seems they're finishing off now with 50k trades.

If it's been Lanstead selling in chunks since the start of January, they should be close to sold out and hopefully we'll get an RNS saying Lanstead are out.

If it isn't Lanstead selling, I'm expecting a placing RNS soon.

..also in

https://www.fieldfisher.com/media/2018/12/fieldfisher-mining-team-advises-on-4-million-loan-facility-for-kefi-minerals

https://www.mining-journal.com/project-finance/news/1354891/so-you-want-to-build-mine-now

Slide 4:

"• The Oromia Regional Government consents on compensation and Resettlement Action Plan have been
delayed due to the govt changes in Western Oromia Region. Now target this month instead of last month"

...for anyone who hasn't seen it

At:

https://www.kefi-minerals.com/files/presentations/kefi-indaba-presentation-feb19.pdf

Thanks EG and SB

Does the extract below from the Annual Results RNS on 18 June 2018 suggest there shouldn't be a requirement for any more placings ? Your thought would be appreciated :

"Capital Management
The business model of the Company has always been to raise equity capital to fund the next stage of exploration and development. At the same time, KEFI has worked hard to minimise Tulu Kapi's development funding requirements through engineering, contracting and project finance, which have been designed holistically to provide an economically robust project and a befitting financing plan. Nearly all capital requirements are planned to be met at the project level.

KEFI unfortunately has also had to issue equity at the parent company level at disappointingly low share prices. Having said that, the Company's projections and those of the research analysts that follow us closely show significant value generating upside to shareholders from Tulu Kapi alone, let alone from the pipeline of less mature projects which we expect will yield more value-adding opportunities.

On 15 June 2018 KEFI announced a capital-raising for £5.5 million ($7.4 million) to fund finance closing costs and early project works in preparation for full finance drawdown and development activities targeted for implementation after the end of the Ethiopian wet season in September 2018. The proceeds from the capital-raising in combination with existing cash, project equity and the working capital facility from certain existing stakeholders will ensure that the Company is fully funded until December 2018 and will enable KEFI to close the Tulu Kapi Project financing, subject to approvals by all stakeholders and formal documentation."

...there can be only one ! :-)

From memory, the last bid from BHP (for 10% of the company) came on a Saturday......

Thanks Unic

IMHO BHP will want to make a move before too much upward SP movement. They will probably be trying to find other large holders who are willing to sell their shares for a 'reasonable' profit.

If they are unable to find willing parties, then what to do next ? Make a bid for the whole shooting match - just because they can. Should this happen we may well see a short duration suspension while NM & Co. figure out their next move.

http://dailyquint.com/2017-02-01-kefi-minerals-plcs-kefi-buy-rating-reaffirmed-at-beaufort-securities/

Difficult to say. If a good financing package is secured for Tri-K in Guinea and the price of gold stays at current levels or higher, then this will move up rapidly.

http://www.investorschronicle.co.uk/2016/04/14/tips-and-ideas/share-tips/tips-of-the-week/shanta-presents-a-golden-opportunity-JCEjNMvTIc99sVSFjpSe0N/article.html