TRANSFORMATIONAL MONTH7 Oct 2020 08:57
As reported post period end in July 2020 Tulu Kapi project company Tulu Kapi Gold Mines Share Company ("TKGM") is in detailed discussions with specialist mining financiers to complete the Project finance consortium alongside the mandated senior bank lenders to the Project. TKGM is working closely with all these parties to refine the detailed terms and to complete their reviews of the recently completed independent technical expert reports. The focus remains on continuing offsite development activities, the closing of the full Project funding package in October 2020, resettlement commencing in Q4 2020, site construction in early 2021 and for gold production to commence in 2022, in line with recent guidance.
It is notable that both Ethiopia and Saudi Arabia have prioritised development of the mining sector and both countries are implementing reforms to further develop and open up their economies.
The company continues to receive the support of its shareholders and welcomes to its investor base RAB Capital who now hold 12% of the issued capital of the Company and have Board representation.
We know that bar state of emergency, that the 224m full financial close is happening this month. Pe and smell bed will write 20 times over this post it's not done until it's done and every negative possible. Emotional about past rather than looking at the strength of the current position, and purposely trying to bash.
The fall from 2.8 was only due to this constant bashing and lying.
TK full funding will include working capital so to no longer need any fundraises at TK
And any placing that happens after news at higher prices, will likely be with Rab capital - who would massively benefit themselfs and shareholders if any placing was at a premium, and hurt themselfs and Harry's retirment doing it at much discount.
Giant month, 5p minimum on financal close
Sign In
Follow the stocks
