Same story different year.6 Nov 2024 08:37
It’s been this way year after year 😬 talk is cheap, but in the cash of HA very lucrative.
Remember ANS ? 2018 it’s the same scenario only differences the names not the the names have changed
ANS didn’t even exist. It was three investors supposedly going to invest but ANS as a consortium or company never existed.
RNS Number : 7265Y
KEFI Minerals plc
24 August 2018
24 August 2018
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.
Managing Director, Mr Harry Anagnostaras-Adams said "Project equity investor ANS Resources is being carefully structured to provide diversified local equity participation in Ethiopia's first modern mine development for its exciting new gold sector. This approach also ensures clear Tulu Kapi Gold Project control by KEFI, as required by the planned non-equity financiers.
"ANS Resources represents a diversified group of financial investors assembled specifically for this transaction and its involvment will be a further significant milestone in unlocking the gold potential of the Tulu Kapi orebody and district."