Member Info for Mafs

Haha yeah I know lol couldn't resist.

Have a guess what made me return here? Someone posted it on another board lol and me being me, I thought I'd check it out and bloody hell im glad he did.

I genuinely feel for those suspended in Evraz, but opportunities to offset any potential losses are everywhere, and Kefi i believe will be one of them.

The painful wait was from 2014 to 2022! That part is done as a junior explorer with dilution, this is the time to benefit.

And what a great entry. I really hope it helps people. I'm down a little here but not worried at all.

GLA

**Correction**

Its approximately £120mil a year. 973mil / 8 years = 121mil

GLA

Someone posted some figures which were mindblowing, the scary thing is, these were not predictions but based on what we ACTUALLY have as a JORC resource WITHOUT including additional strike zones.

Warning, these figures INCLUDE $800 extraction cost per ounce:

£973, 591,303
Mine life of about 8 years - production due to start 2022 -2030

Thats approximately £75mil a year.
You do the calculations.

Lets say Harry and his pals, and some Ethiopian crooks on our logistical roads, and dodgy govt folks steal half of it, it's still twice our Mcap every single year of production, and im being silly with the stealing part!

Early retirement written all over this. Gold increasing as well.

Come on Harry give us the finance!!!
GLA

Ask was 0.68 few days ago, really happy its picking up silently in the background.

Overhang to clear and this as we all know will fly. These are shocking entry prices for such a company at a very pivotal stage!

GLA

Just to add to the others who have given excellent points.

Few key reasons and with nothing to worry about IMHO:

1 - there's a war still happening, people are naturally worried about general investments across the market - lucky were in a very good spot and are focusing on a metal that actually booms in crises! (GOLD)

2 - Placement shares - these are still being churned which eats into any rise to 80p since that is the placement price. In order to fill that, its taken from the many buyers. (Again subject to many possibilities as stated by others i.e broker options

3 - People believe they can wait until placement is done and have July as a deadline - therefore try to make more whilst they wait for the finance package (risky, as this will flip you from Investor to trader, and were in very volatile times. Could end up losing more than you gain).

These prices are amongst the lowest Kefi has seen, and so it's not surprising it is acting as strong support. The SP HAS TO be into the multiples with Tulu Kapi alone during production and this is without the Saudi assets and copper too.

This is a monster in the making and it has been a long time coming. Many LTH's have suffered dilution and high entry prices but if all comes to plan even the people at 4p will be smiling let alone you and I at 0.7p!!

Stock up is what I'm gonna be doing... just need April to come quickly!!

GLA

I am wishing (forgive me) that the prices stay like this until April when our ISA tax free allowance refreshes. It is most likely the placing shares holding this down from a run into the late 0.70' and 0.80's

Praying I can add about 3 mil more here for a very interesting next few months!

GLA

Must take into account cost of extraction, filtering, sorting, sampling, logistics etc and also was the NPV given at that time when gold was at a specific place.

All I will say is, please turn your calculator on, and put in 48500kg's of gold (JORC resource of 1.72mil ounces, ive rounded it down to be generous) and multiply that by £48765 for a kilo of gold.

I will let you read or attempt to read what that figure is even with the costs associated to it.
Its a 7 year monster.

Have my ISA lined up for April, but im scared the market will realise and prices will not remain here :(

GLA

Ask those who invested and saw value in this at 4p. Ask those invested who saw value at 2p, then those who saw value at 1.2p they still feel the same about the assets, just criticism of Harry not moving things quicker and doing his placings.

....And now is there value at 0.7p

So what's different here?

Difference is, back then we hadn't reached any real milestones in a consistent manner. Back then it was getting agreements from the many interested parties like organising a holiday with your 15 friends who all have different calendars. Back then it was delays and growing many projects rather than one single project like Tulu, back then it was needing constant placings to keep Kefi alive (and Harry in his job) to make it work, which diluted the 4p and 2p holders. Then State of emergency kicked in and paused things.

NOW... it is very likely Harry is gonna get Tulu over the line, why because the Govt is in full throttle demanding updates now, interested parties are assembling and putting pressure on the BOD, people in the area are being rehoused, communities are being updated regards to the mining impacts, job profiles are being written up by admin, contractors told to bring their equipment and machinery (if being used elsewhere it can take long to move), whilst simultaneously pursuing Saudi assets and licences.

The hard work and the painful wait is almost over. 2012 JORC, 2014/ acquiring Tulu in increments, all the way to 2019 funding package was pursued, delayed for several reasons. Then state of emergency kicked in 2021/2022.

Now - 2022 the final start of production. This sounds about right for an explorer turning to production to take about a decade to realise.

The painful wait was done by LTH's over that decade and not by us newcomers.

Those entering now at 0.7p (just ask the LTH's what their averages are) the new holders are in a very, very, very fortunate position indeed.
People have paid 3-5 times the price on less favourable terms than now.

Harry is gonna finally pull this off and its gonna be huge well deserved for the LTH's here.
AIMHO

Currently hold over 1.5mil only, but adding more as soon as the April ISA kicks in which should see me holding around 4.5mil I hope.

But will the price remain is my fear!

GLA

Hi all

I've learnt over the years, naysayers and doomers always have 1 or more of the following agendas:

1 - They want to buy in at a lower price than now i.e. take your spot when you sell your shares. So they'll be saying the same when its 1p, 2p or 3p saying it will tank lol only to quickly take your spot.

2 - They hate the success of others because they themselves have failed investments all over their portfolio. Sore losers.

3 - They are bitterly upset at the company not being 'perfect' for them, because every company they invest in has to be bloody perfect. They demand perfection even if it means having every single BOD member buying in with millions, or no political wars happening, and no fall through deals/agreements. They live in a bubble and make this out to be entirely the company's fault alone.

It is always best to smile at these lot, and not entertain their points. Or simply reply with if you're a holder that's great, if not then can you please 'save others on a different board. They need a 'saviour's over there.

We go by the RNS, we go by the market situation, we go by the proven assets in the ground, we go by ALL PARTIES involved in this and expecting this to go ahead.

That is all we can do, this is why it is an investment with risks, and this is life in general.

This is very derisked at this price. For any onlookers I cannot give instructions as its your investment, but I hold over 1.5mil and adding, what gives me confidence aside from the SoE being lifted in Ethiopia and the RNS today, is if I click on Kefi in Google finance and click 1 year, or even 5 year chart - i can see a HUGE, HUGE UPSIDE from 0.7p!!

ATB
GLA

What some don't know is people have been waiting since the Tulu acquisition some 7-8 years ago, so anyone joining now will be benefitting from the wait.

I recall Kefi presenting in a London hotel alongside Baconara minerals (not sure anyone else can remember the investor evening), and even then it caught my mind but I never looked into it.

The pivotal years are 2022- 2028 where the income annually will be more than twice the current Mcap for 7 years straight.

Its a steal at these prices, and pretty derisked AIMHO.

Bring on the regular news flow!
GLA

There are too too many interested people involved from government all the way to contractors and banks.

You cannot pull the wool over everyone's eyes all the time. The last time a pause happened a member of the Ethiopian media reported Kefi which prompted an RNS to clarify situation.

This is not a joke. This is Ethiopias biggest mine for over 30 years.

The government's in on it, financial institutions, Media, admins, laborers with shovels, and most of all Harry and his pals.

If they get rewarded at 0.8p placing price with zero debt, then what about us entering at 0.7! Its a no brained for new comers, and an averaging down for old timers.

Either way, were looming at 3.5p short term, and about 12p+ long term.

This is a multibag in the waiting.
GLA

These prices will NOT BE AROUND for long. Those topping up are most fortunate.

Hold for gold!
GLA

Great update by Harry! I reckon this time he is going to succeed!

GL LTH's the re-rate about to start up to July!
Exciting times!

GLA

Hi all,If anyone is down significantly, and has a little spare cash and does not want to average down like I did in EUA due to the war, then you have time until July if you're interested.This is not a ramp, but facts from the company and research, so ignore it if not interested.If you have time to wait until July, then there could be a huge finance package worth 250mil (a deadline given by the government themselves for KEFI minerals - which has been years in the making).I always tell myself to try alternatives to grow your income back if in loss whilst the war continues, and recoup any losses made.I mean now harm, as I'm just someone down significantly and reaching out to highlight opportunities for those in the same position.A little about KEFI => Placing at 0.8p couple months ago, so fully funded and being churned=> Zero debt=> Many gold projects including Ethiopia, Saudi also copper too. => completed a JORC resource for huge Gold Mine (google it)=> JV with the govt themselves for their Ethiopian Tulu Gold Mine.=> production to start 2022 this yearThe following statement is for from MARCH 2020 by the company when it was 1.25p:Valuation: 3.54p rising to 5.71p; potentially 7.57p per share."We calculate that Tulu Kapi gold mine is capable of generating free cash flow of c £48.8m a year for seven years, from 2022 to 2028 inclusive.This, in turn, drives average (maximum potential) dividends of 1.51p/share for the five years from 2025 to 2029, which values KEFI at 3.54p/share when discounted back to FY20 at a 10% discount rate.This confirms a current value for KEFI of £46m, or US$59m (cf US$58m previously), based on the dividend potential of Tulu Kapi alone. However, this ignores the exploration and development of the pipeline of targets in the KEFI portfolio.In the event that KEFI is ultimately successful in leveraging its cash flow from the open pit mine into the underground deposit and its other assets in the region, our valuation increases to 7.57p/share. Stated alternatively, we estimate an investment in KEFI shares currently at a price of 1.25p could generate an internal rate of return to investors equivalent to 30.1% per year over nine years to 2029 in sterling terms. However, this rises to 47.1% (and our valuation to 6.43p/share) in the event that the gold price remains at US$1,600/oz. Saudi Arabian and other non-core assets potentially add at least a further 3.4c (2.7p) to this. In the meantime, investors can purchase shares in KEFI at a price that equates to just US$10.64 per resource ounce (before minority partners’ investment into the asset).KEFI now sits at 0.7p below placing price 0.8p as the placing shares are consumed.**This is for holders who are down significantly and have a few months to possibly recoup losses**(Please

Those who know will know, but when your down you pray you had put your investment in different places, this is for them

Don't place all eggs in one basket. Let the war dissipate and average if you feel the SP will remain strong throughout the war.

Sincerely apologise for the post, and those underwater will know where I'm coming from. The company I mentioned, you'll notice I did my first post ever, therefore not a ramper or a LTH etc. Just a person who is desperate to plant seeds that could grow helping lessen the loss.

Hope that helps before you report me

Hi all,

If anyone is down significantly, and has a little spare cash and does not want to average in EUA due to the war, and you have time until July...

Then you have time like me to wait for a huge finance package (a deadline given by the government themselves) for KEFI minerals.

I'd recommend to try alternatives to grow your income back whilst the war continues.

I have spread out any remaining cash whilst EUA and others pick up and have a few in mind, one of them is below.

A little about KEFI which had a placing at 0.8p, no debt, fully funded with many projects, Ethiopia, Saudi etc and JORC resource too with a JV with the govt for their Ethiopian Tulu Gold Mine.

The following statement is for from MARCH 2020!

Valuation: 3.54p rising to 5.71p; potentially 7.57p

We calculate that Tulu Kapi gold mine is capable of generating free cash flow of c £48.8m a year for seven years, from 2022 to 2028 inclusive.
This, in turn, drives average (maximum potential) dividends of 1.51p/share for the five years from 2025 to 2029, which values KEFI at 3.54p/share when discounted back to FY20 at a 10% discount rate.

This confirms a current value for KEFI of £46m, or US$59m (cf US$58m previously), based on the dividend potential of Tulu Kapi alone. However, this ignores the exploration and development of the pipeline of targets in the KEFI portfolio.

In the event that KEFI is ultimately successful in leveraging its cash flow from the open pit mine into the underground deposit and its other assets in the region, our valuation increases to 7.57p/share. Stated alternatively, we estimate an investment in KEFI shares currently at a price of 1.25p could generate an internal rate of return to investors equivalent to 30.1% per year over nine years to 2029 in sterling terms. However, this rises to 47.1% (and our valuation to 6.43p/share) in the event that the gold price remains at US$1,600/oz. Saudi Arabian and other non-core assets potentially add at least a further 3.4c (2.7p) to this. In the meantime, investors can purchase shares in KEFI at a price that equates to just US$10.64 per resource ounce (before minority partners’ investment into the asset).

KEFI now sits at 0.7p below placing price as the placing shares are consumed.

**This is for holders who are down significantly and have a little time**

I've probably lost close to 6 figures in general over Aim, it is very, very difficult when things are out of your control.

Remember, what you lose is essentially what COULD have been, as opposed to what is happening at right now.
What I mean by this is, at present you are still living, with a roof over your head, food on your plate, and in most cases your family by your side. We forget that this is a value that no sum or figure can replace.

How many millionaires in need would pay for something like a simple organ that you have, or for a child, or for general happiness? How many own mansions and a fleet of cars, yet stare out of an empty window and ponder what to do with their life?

Remember that you live another day, wake up another day to try again. You learn from this and advise others. You get through this together and never think about the what ifs since they are not definitive.
Whats definitive is the present and what you can do right now with your choices.

I find solitude in knowing whats meant to come to me will come, and what's meant to pass by me was never mine even if I tried a million times.

Don't be down too much, and try not to think of possibilities, but think of today and seize the day 2moro.

Good luck to all invested here or anywhere, and may we reflect upon the shattered lives of those people around the world who have nothing compared to what we have.

GLA

Looks very close, and seems delayed to July to iron few things out, read this;

MINING JOURNAL reports:

"AIM-listed KEFI Gold and Copper expects its flagship Tulu Kapi gold project in Ethiopia to be financed by March this year, with production anticipated in the December quarter of 2022."

https://www.mining-journal.com/exploration-development/news/1403290/kefi-on-brink-of-tulu-kapi-financing

Kefi, in a statement, notes that starting full development of the project is its and the Ethiopian government’s highest priority.

While the National Bank of Ethiopia conducts its review, the other outstanding administrative details are being progressed with the various Ethiopian government agencies, including the Ministry of Mines and Petroleum, the Ministry of Finance, the Ethiopian Roads Authority and the Ethiopian Electricity Power Corporation.

These are normal compliance procedures to enable Kefi, TKGM and its syndicate of financiers and contractors to proceed to financial close.

These procedural matters include requests for finalising confirmations of registration of historic investment, the establishment of correspondent bank account arrangements, confirmation of construction schedules for road and electricity access and various other administrative matters already agreed in principle.

Upon timely receipt of these confirmations, Kefi will work towards financial closing by the end of July, or as near as possible thereto given the local document registration procedures and the Covid-19-affected limitations of syndicate parties’ physical locations.

RECENT DEVELOPMENTS

Kefi continues to oversee the physical preparations at Tulu Kapi for full development to be triggered at financial close, such as clearing of new host lands for community members to be resettled and overseeing the early works programme of detailed engineering and procurement by principal construction contractor Lycopodium.

In addition, preparations also include supporting planning and the procurement programmes of mining services contractor Corica, overseeing the new access road and electricity connection works contracts under which surveys and procurement have been completed.

Also, Kefi is triggering compensation procedures for the first resettlers at the Tulu Kapi electrical substation site, and is recruiting further key personnel for the next stage of the project.

Hold for gold.

Current Mcap 20m - SP 0.7p
New Mcap after finance £270m (+ 20m Mcap) - SP circa 8.75p

Yes there's a war, but the BOD cannot lie in the RNS and say its all over.

Things will return. Nothing from their strategy has changed. Fact.

This had braced 40p in past and nothing has changed.

This is a 5 bagger from here after the war is over. AIMHO

GLQ