Member Info for manu17

G7 to discuss diamond trade with future Russia sanctions in mind - EU official - https://uk.investing.com/news/commodities-news/g7-to-discuss-diamond-trade-with-future-russia-sanctions-in-mind--eu-official-3024599

SD on Champagne corks popping ! my ars--

Says the Bottom feeder.

Jaskk
The emperor has not clothes.
Simms45
That’s all very well and good but where’s all the money gone over the years?

Retained Earnings Will be in excess of £50 Million plus now.

Mon, 17th Jul 2017 07:00

RNS Number : 1862L
KEFI Minerals plc
17 July 2017



17 July 2017



KEFI Minerals plc

("KEFI" or the "Company")



PROJECT FUNDING OF US$135M FOR TULU KAPI GOLD PROJECT



"KEFI signs terms for funding all on-site infrastructure,

already having signed terms to fund all off-site infrastructure"





KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to announce the signing of a mandate letter and heads of terms for US$135 million of project funding with Oryx Management Limited ("Oryx") to finance and operate all the on-site infrastructure at the Company's Tulu Kapi Gold Project in Ethiopia (the "Project"). The planned financing package also includes funding finance charges during a 30-month construction and production ramp-up period.



Highlights



· Mandate signed with infrastructure specialist Oryx to operate and lease-finance all on-site infrastructure at the Project.



· Oryx to establish a special purpose vehicle (the "Finance SPV") to issue bonds, the proceeds of which would be used to build and own all the on-site infrastructure for the Project which it would lease to the Project company, Tulu Kapi Gold Mines Limited ("TKM"). The receipt of lease payments from TKM would be used by Finance SPV to pay the principal and interest on its bonds.



· Oryx to also operate the on-site ore processing infrastructure on an open-book, cost plus performance-bonus based operating contract.



· Ethiopian Government to fund the building of all off-site infrastructure for the Project, in accordance with previously announced and executed Shareholders Agreement. The relevant Government agencies will operate and maintain the off-site infrastructure.



· Ausdrill Limited (through its subsidiary African Mining Services Pty Limited) to supply and operate all the mining equipment under a mine services agreement structured as a conventional schedule of rates contract, whereby the contractor is paid per tonne of material delivered.



· All contractors to be accountable to and supervised by KEFI subsidiary TKM.



· Ignoring historic investment of c.US$60 million, the Project's remaining funding requirement has now been successfully reduced from c.US$289 million when KEFI took control in 2014 to an amount of c. US$160 million (before overlaying the Oryx proposal) to a residual balance of US$32 million. The residual balance of US$32 million, which includes c.US$13 million of contingency provisions, will now be refined, structured and sourced. This residual amount will also be further evaluated over the coming months and may be reduced.



· A variety of sources to finance the estimated residual requirement of US$20-30 million are being considered, including working capital facilities with Development Bank of Ethiopia, Project-lev

Wed, 4th Sep 2019 07:00

RNS Number : 1133L
KEFI Minerals plc
04 September 2019

4 September 2019

KEFI Minerals plc

("KEFI" or the "Company")

Planned Start of Tulu Kapi Gold Project Development



KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce that KEFI and its partners in Tulu Kapi Gold Mine Share Company Limited ("TKGM") have confirmed their respective commitments to the start of development at the Tulu Kapi Gold Project (the "Project") in October 2019 and issued the following public statements on Wednesday 4 September 2019 in Perth, Australia, at the opening of the Africa Down Under Conference (2am London time).

• Statement by the Executive Chairman of KEFI and TKGM, Mr Harry Anagnostaras-Adams: "It is exciting that the Tulu Kapi Gold Mine development is starting and especially pleasing that it is in joint venture with both the Ethiopian Government and private sectors. All parties are completing the last-minute actions for next month's start of the 24-month development schedule to achieve full production in 2021. This will be the first modern mine development in Ethiopia for decades and has taken great determination and collaborative effort by all parties, for which we are most grateful."

• Statement by Ethiopian Minister for Mines, Petroleum and Natural Gas, H.E Samuel Kurke: "The Tulu Kapi Gold Project has full support from the Ethiopian Government at all levels because it is a priority for the country and community. We work closely with KEFI and look forward to the start of development next month."

• Statement by ANS Mining Director, Ato Demissie Demissie: "ANS Mining is an Ethiopian investment company formed by a syndicate of leading Ethiopian investment institutions to participate in the Tulu Kapi Gold Project and then to consider follow-up investments in the newly prioritised mining sector in Ethiopia. As investors we have done this before in other industrial sectors and now mining is a top priority given the Government's policies and the growth potential we see."

The Africa Down Under Conference is attended by representatives of many of the 54 African countries and many of the 200 Australian mining companies operating in the continent, including TKGM's principal project contractors.

These statements and the intention to commence Project development next month follows recent intense preparations on the ground in Tulu Kapi for the project go-ahead, including increased security and administrative measures.

The Company also is pleased to report that the scheduled independent security update has been received and that we are pleased with its findings. The last report was prepared in 2016 and this update has taken into account subsequent changes in circumstances and organisational preparations. The report analyses the Project security situation in detail and its co

Boring but true. Lol
Mon, 8th Apr 2019 07:00

RNS Number : 3617V
KEFI Minerals plc
08 April 2019

8 April 2019

KEFI Minerals plc

("KEFI" or the "Company")



Project Equity Financing Update

US$11.4 Million Commitments (Ethiopian Birr Equivalent) Received by ANS



KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on the project equity financing plans for the Company's Tulu Kapi Gold Project (the "Project").



ANS Mining Share Company S.C ("ANS") has confirmed it has now received its first Project-equity instalment commitments for US$11.4 million (Ethiopian Birr equivalent) from its investors. The amount is higher than the previously anticipated US$9 millon (Ethiopian Birr equivalent). The subscription of this enlarged amount and release of funds into Tulu Kapi Gold Mines S.C ("TKGM") will be in the current quarter upon satisfaction of conditions summarised below.



The remainder of the US$38 million (Ethiopian Birr equivalent) ANS commitment will be subscribed at close of full development funding as previously announced. Following further discussions amongst the stakeholders in the Project it has been mutually agreed that, of the total commitment of US$38 million (Ethiopian Birr equivalent), one third will now be invested via KEFI subsidiary KEFI Minerals Ethiopia Limited ("KME") so that ANS will be KEFI's minority partner in KME which controls TKGM and the exploration areas in the Tulu Kapi district, which are considered prospective for potential satellite and stand-alone deposits. The other two thirds of the ANS investment will be directly into TKGM as previously proposed. Through this revised structure the overall economics of the Project and the value of KEFI's interest in the Project remain unchanged.



The benefits of this optimised approach will include that:

·

KEFI will have a strong partner at the KME table to consider potential new projects alongside KEFI. We expect Ethiopia's mining sector to become more active on the back of our first-mover initiative,

·

That, by virtue of the TKGM partners funding the early stages of the development program before debt-style funding is used, TKGM now targets a longer production ramp-up period and cash/gold-in-ore-stock build-up to over $100 million prior to any commencement of repayments of debt-style finance,

·

The implied NPV of KEFI beneficial interest in TKGM's After Debt and After Tax NPV (at a gold price of $1,300/oz, on the open pit only, ignoring the underground deposit and KEFI's other interests) is £40 million as at today and £66 million at the start of production. The ownership levels will be that KEFI will own c. 81% of KME which in turn will hold c. 59% of TKGM and that KEFI's beneficial ownership of TKGM will be c. 45% (both ownership levels in TKGM are net, after adjustment for

Harry’s favourite past time another Presentation lol.

Has any money come in yet ?
Did that ANS money ever come in ? Lol
BS

Dip666
Excellent reply i thank for your response you are one of the respected posters on here., but there are a good few children as well that need to grow up.
Very much appreciated Dipp.

Now I really am off to golf. Bye bye children you know who you are. Lol

Spade
“But you must have a guilty conscience to have even thought otherwise”

Guilty Conscience about what this a BB not an interrogation board, you all need to get a life.

Soundgrounded yes I still hold.

I’m of to golf now so all you rampers have a nice.

RE: Filters15 Mar 2023 16:50
Joubert
Good for you I must be in with the village 1d1ot .
Being £70,000 down in this so call no brainier GGP

1970 John please keep your balance view coming it’s refreshing to have less ramping posts, the resident rampers are relentless on here.
34p to 7p I’ve yet to hear a good explanation in the two years I’ve been invested here as to why.
Is it that good GGP ? I’m beginning to have extreme doubts.

Has that money from ANS come in yet has any lol

He’s going to shaft everyone again.

Outstanding so far NOT.
A couple of minutes in ant talks about BB’s trolls lol

Looking forward to being entertained by the joker later if I can be bothered to.

Is the waiting game still being played out it’s so funny is Kefi.

Sorry 2016

From a presentation in 2018 sounds familiar

"Progressing development of flagship Tulu Kapi gold
project in Ethiopia following revised DFS. Planning to
commence construction in Q4 2016 and reach stable
production mid-2018
Evaluating underground mine at Tulu Kapi and low cost, heap-leach treatment of oxide ore at Jibal
Qutman project in Saudi Arabia"

BS-1964 Thanks
Has any money come in yet ? lol there's certainly a lot gone out IE. Retained Earnings must be about (£50 mil + )by now
so come on genius you explain where's all that money gone ?

Did that ANS money ever come in. lol

I’ve sent HA a spade to help him dig the stuff out of the ground seeing as he is still delusional 6years on.

Did that ANS money come in yet lol.