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Quite so dvh, not sure why multiple news sources are only picking up the Chancery deal a couple of hours ago when that news is 2 weeks old?

Strange and mis-leading.

I'm pretty sure this is the same US$20M that was RNS'ed on 11th February which said it was signed then:

"KEFI (AIM: KEFI), is pleased to report the signing by subsidiary Tulu Kapi Gold Mines S.C. ("TKGM") of a US$20 million equity-ranking-royalty with Chancery Royalty Limited ("Chancery Royalty")."

That same RNS also stated that US$30M was still to be finalised:

"A residual US$30 million of equity-risk capital is also in the process of being fully signed up this month. This comprises US$10 million of costs to be incurred during the two-year development programme and settled in KEFI shares at the then market price when applicable costs fall due during this period, and the balance of US$20 million as additional equity-risk ranking TKGM gold royalties issued to two other royalty investors on the same terms as the Chancery Royalty. That will formally complete the US$340 million Project finance package in an optimal manner. Therefore the Project finance package is now effectively covered and the Company is triggering implementation on all fronts in the field. Field teams and contractors have been mobilised and a 'Ground Breaking Ceremony' organised."

We are still waiting on news that the 'final' US$20M in royalty deals has been signed and that the further US$10M to be paid for in shares has been finalised.

The funding is effectively done, hence the ground breaking ceremony and construction start, albeit of new houses.

Hold for gold.

First production is forecast for early 2028, however Jeremy Gray from Chancery Royalty seemed to think late 2027 was possible, likely even.

Either way, it isn't long to wait in the great scheme of things and the sp will increase between now and then, it's inevitable.

Personally I expect to de-risk my tragic pf somewhat before then depending on sp action but will definitely be leaving a decent amount in for production and maybe beyond, it would be crazy not to.

Hold for gold.

I don't imagine for a second that Harry reads this bb, especially as a lot of it is absolute tripe.

I rather think he has better things to do with his time.

"Construction has started" but you are correct, inital construction is the new housing to resettle the locals, although Harry stated that some will be put up in hotels to speed things up; everyone wants this to get under way and producing as soon as is practical. There is also the issue of roads and electricity but all of that is in hand.

Everyone - including me - hoped and expected the sp to be well above 2p at this stage but something is holding it back, the last bit of outstanding finance probably isn't helping but I also think the "Harry effect" is still, well, in effect - so many missed deadlines.

Having said that, anyone who isn't taking the potential upside here seriously ("huge upside" according to Harry) is likely to miss out as sooner or later this has to re-rate, it's simply impossible to remain at these levels forever. Unless something really terrible happens of course.

Hold for gold and keep everything crossed seems to be the best strategy for now.

Maybe dvh, maybe.

US$5,041.67.

😉

Sp looks to be coming back now, 1.835/1.845.

Let's hope so dvh, although so far the 'expected re-rates' just haven't happened. You'd have thought the ground breaking ceremony would have been a major milestone - and it was - but it didn't really ignite the sp like we thought it should. All this talk of possible conflict certainly hasn't helped plus guessing plenty of traders taking profits in the 1.9's?

I was tempted to sell some in the 1.9's in case the price pulled back and I could re-buy cheaper but didn't because of FOMO; how many times I could have done that but didn't and then wished I had. Bloody hindsight!!

Anyway, I'm sure long term this will be incredible but short term, simply frustrating and a little disappointing.

Hold for gold? Hmm......

It amazes me that posters on X and YT seem very keen to 'talk up' possible wars and conflicts that haven't been or can't be verified, and nothing appears on trustworthy news platforms. And then it gets re-posted on here.

None of it helps Kefi's case.

Having said that, we know there has been and always wil be tensions between the factions involved here and further confilct isn't unlikely, it's just the scale and reach of it that is unknown.

All we can do is watch and wait and hope it's just a storm in a teacup, for everyone's sake.

@Caterham7 - that is an eye-watering possibility.

Very well done and good luck to you. I hope you have a decent IFA!!

In both news and trades.

Near 237M traded on Monday - before this massive news - but only 70M so far today. Not enough.

Re. news - does the volume go up to 11? 😉

" 7 pence per KEFI share is based on a gold price of US$3,000/oz, the Tulu Kapi NPV at construction start and the initial preliminary valuation of the 13% of GMCO."

It won't happen overnight but shouldn't take too long - today's ceremony "formally marking the start of construction".

Game on. Hold for gold, or a decent sp at least.

That would be amazing KG, especially as the current sp suggests the markets still don't believe it. It's quite incredible.

I certainly hope so, we've waited long enough.

A rock star that had too many lunches by the look of it 😉

Seriously though, the ground breaking ceremony (if it happens today but looks like it will) will be a major milestone and a huge step forward, then just the matter of the final equity to be signed off which is about as nailed on as you can get.

This is about to get very, very interesting.

Hold for gold.

Sp having a rest before next news, volume today nothing like yesterday.

@Aldebaran - 1400 dollars per ton?!

I'll have 2 please 😉

I think we'd have been 2p+ at COP today if it weren't for the mention of a possible problem earlier; I think it did well to recover to 1.92/1.95 at the end.

And almost 237M traded, not too shabby.

Any (good) news now will propel this well past 2p IMO.

Good luck all.

It's hard to believe that Rob has sold out after being here for so long and contributing so much, especially as that decision seems to be based on what now appears to be a discredited scaremongering YT video. I had him pegged as a definite LTH.

I can't ever recall any of his many posts being particularly ramp or de-rampy, just always providing lots of information and links to sources.

He will definitely be missed here.

Rob, if you are reading any of this, I have to ask (seeing as no one else appears to) is everything ok?

Good luck.