Member Info for MrHumble

DOze they couldn't get the money required with a 20 year licence. Never mind a life-span left that it would take to fully develop it

THat's even worse then Sharezy if you can't get what is required

The reputational risk of funding a mine where armed insurgents or kidnappings occur nearby outweighs the potential returns. LOL

The red zone classification is a deal-breaker for major financiers. Until Oromia (and specifically West Wollega) is downgraded by the likes of the UK FCDO, US State Dept, and insurers, no serious backer will commit hundreds of millions. Years of stability required for any serious financier to back a 100'sM$project

Despite improved national stability, the perception of Oromia as lawless and insecure remains.

For insurers and lenders, this means:

Higher risk premiums.

More stringent due diligence.

Caution about deploying $250–300M capex until years of stability are demonstrated.

No they have not

and it is still a red zone you know

Even at today’s high gold prices, the fundamentals of Tulu Kapi haven’t changed. If the project were truly compelling at today’s gold price, we would almost certainly have seen a mid-tier or major step in by now. The fact that it hasn’t happened says a lot. Esp give Kefi is vulnerable in cash terms, and will NEVER raise the money required

Doze i ger that. I might not see it the same but it's a valid point. However it does not override the economics of the mine

Junior miners have a major backing issue even today (if not got god cash reserves etc)

Even gold at todays prices, building a full infrastructure is expensive and if estimated reserves are not huge, then it is a macro mega risk. Gold price only needs to sneeze, and much like the collapse of Nyota, it will happen to many today as well

These juniors are ok in a broad basket as markets speculate. But this serious players will only look to the established and those that can take a macro event on the commodity.

True. Speaking to the owners. So lets ponder something.

In all it's history, nobody has been willing to back the true cost of development to full mining operation. Not one owner could ever secure it, including Kefi during much higher gold prices.

Yes, they all secured a bit of funding here n there over the years. Nothing close to the 100s of millions it would cost to make it viable though. Just enough to make it sellable to mugs in market

Never claimed to be an investor. Only an accident or momentum if anything becomes one lol

Don't forget you had centamin involved a year prior to kefi. A story in itself

Newmont and AngloGold Ashanti and a few others often reviewed the data for there too. Including during the Nyota ownership when they were trying to offload it.

Ok gold was less per ounce back then. But it was deemed as too small re potential reserves, to bother going further

Then you have to look at costs of setting up a big operation that also needs road infrastructure investment to it etc etc. 100s of millions to be invested, based on only estimates of which the best are of no interest to majors

It's no accident that this keeps changing hands from little cap to little cap mostly, as they all spin a market story from it and pass it on haha

Interesting. What if Goldman Sachs or BlackRock wrote a report not favourable to a bulls bias? How do we try put it down?

A decade afdter Nyota’s work, Kefi has spent nearly a decade trying to finance and de-risk Tulu Kapi.

Best of luck.

And you can be sure MIDROC and thr likes had access to the gov reports etc, pre 2015.

Imo, worse than Zimbabwe

Decades of Plc And Inc. outcomes out there to see what it's like

Dec

'It is also true that we have created some enemies in business dealings, but never by doing anything other than using the force of law to protect KEFI.'

You have no idea what's coming in Ethiopia - Notorious