Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Crossroads Lode: 1.1km long, with an average width of 5m with the widest intersection being 10m true width; and
Crossroads Extension Lode: 0.7km long at surface, with a total plunging strike length of mineralisation to 1.3km to surface. The average width of 4.2m with the widest intersection being 13m true width. This lode has been explored to a maximum vertical depth of 500m where 6.2m of massive sulphide was intersected at 2.9% zinc and 0.79g/t gold.
https://www.kefi-goldandcopper.com/files/announcements/kefi-positive-pfs-for-hawiah-28june23.pdf
Whilst mineralisation is continuous across the 4.5Km strike length, three distinct massive sulphide ‘lodes’ have been delineated, representing areas of greater sulphide thickness. The polymetallic massive sulphide mineralisation comprises copper, gold, zinc and silver with intercepts of up to 5% copper equivalent.
Hawiah’s Exploration Potential The Hawiah massive sulphide deposit remains open along strike and down-plunge, with the deepest mineralised intercept of 590 metres below surface.
(Today linkedin GMCO) “This has involved technically challenging drilling of deeper holes at the Crossroads area of the deposit, including HWD_222 which reached end of hole at 1,000m!” Doubt they were drilling that deep just for the fun of it.
Https://www.zerohedge.com/news/2024-03-28/china-has-taken-over-gold-price-control-west
https://www.2merkato.com/news/energy-and-mining/7752-ethiopia-four-companies-awarded-mining-licenses
https://www.facebook.com/MinesandPetroleum
https://www.zerohedge.com/news/2024-03-27/king-dollar-gets-castrated-under-bretton-woods-3
https://www.youtube.com/watch?v=53U5Y9z06v8 (gold charts and trends section)
Https://www.kitco.com/news/article/2024-03-28/african-gold-miners-shouldnt-be-judged-geopolitical-risk-alone-allied-gold (Video interview Ethiopia mining)
Allied wants to get bigger asked about mining M & A.
Most likeliest is Ivanhoe Electric either on their own or in partnership with Ma’aden as they will know how good Kefis Geo team are and they have license areas next to kefis so know how good kefi prospects are. They can then sell of the Ethiopian side to Allied gold if they do not fancy it themselves. Even with a sub 100 million dollar market cap every discovery kefi makes and every increase in the gold price increase the chance of a takeover.
Think Saudi is already getting deluged with mining companies its actually pretty lucky kefi got all the mining license areas it has as would face fierce competition for every new area now.
https://goldprice.org/ Should be interesting to see if gold holds above 2200.
Plump had a recent uplift in the share price and now we know there is not going to be a placement as one just happened then add in gold price and future results from Saudi so plenty of upside here.
HtTps://www.investormeetcompany.com/meetings/investor-update-43
Now includes the questions separate from the webinar.
Https://news.cision.com/akobo-minerals-ab/r/akobo-minerals-ab--publ----preliminary-results-of-the-subsequent-rights-issue,c3953873
https://amak.com.sa/?p=13696 (Saudi mining)
https://stonenews.eu/saudi-arabia-unveils-182-million-grant-program-to-drive-mining-exploration/
https://map.juniormininghub.com/ not sure if it a typo on the Saudi license areas or the reorganization of the license areas to make them more flexible that kefi was talking about.
Https://www.miningreview.com/gold/allied-gold-new-strategy-will-propel-the-company-to-senior-status/
“Central to the company’s growth strategy are a major expansion of its Sadiola mine in Mali and the development of an entirely new mine, Kurmuk, in Ethiopia.
ARTHUR TASSELL recently discussed the ambitious growth plan, which will elevate the company to senior status, with Allied Gold’s CEO, PETER MARRONE.
Also in the Allied Gold stable is Kurmuk, which consists of two properties, Dish Mountain and Ashashire, which were acquired in 2017 and 2018 respectively and are near neighbours. They jointly have a mineral reserve of 2.6 Moz (52.8 Mt at 1.53 g/t Au). Kurmuk is located in western Ethiopia, 750 km west northwest of the capital city, Addis Ababa. While Dibb and some members of his senior team are still closely involved with Allied Gold, going forward the management is largely in the hands of former principals of Canada’s Yamana Gold, led by Marrone, who founded Yamana in 2003 and continued as CEO till 2018. He built Yamana into a plus 1 Moz a year producer with assets in Canada and South and Central America.
Kurmuk
Although Sadiola will remain Allied Gold’s flagship for the foreseeable future, its other growth project – Kurmuk – is a very substantial development with a projected gold production of 240 koz per year over an initial 15-year mine life (and an average of nearly 275 koz per year in its first four years). Fully permitted and shovel ready, it is already in the early stages of execution with DRA as the appointed EPCM contractor. It will benefit from having access to relatively cheap hydropower and is expected to have an AISC of under US$950/oz. The first gold pour is anticipated in Q2-2026.
“We are definitely going to be the ‘poster child’ for Ethiopia’s emerging precious metals mining industry,” notes Marrone. “The government is prioritising the development of the mining sector and is giving us every support in developing Kurmuk, in which it has a 7% interest. We’re finding the country to be a very welcoming mining jurisdiction.”
Allied Gold was originally planning a 4.4 Mtpa operation at Kurmuk but this has now been upgraded to between 5.4 and 5.7 Mtpa. By capitalising on the deployment of existing equipment – including a SAG mill – owned by Allied Gold
According to Marrone, the total capital requirement for Kurmuk is US$500 million. Implementation, however, is being phased with expenditure through to the end of this year expected to total US$185 million. Early works underway include access roads, a construction camp and a water containment facility.
Building a mine in a relatively remote part of Ethiopia might seem a tall order for a mainly Canadian management team with little African experience but Marrone is unfazed by the challenge. “At Yamana we built a mine at the southern tip of Argentina in an area which ranks as one of the most remote and inhospitable environments in th
Think you overate my influence Fantasy and have no contact with Harry do not remember so much as an email from him all the time I have been a shareholder.
As for the gold price it does have an effect on how the finance deal is structured as obviously higher gold price means quicker repayment of loans and the enthusiasm of all parties benefiting from it in the future to get things done especially the Ethiopians and the African banks. Also has a big effect on the NPV which hopefully one day will have a bigger effect on the share price.
Gold just a couple of percent of all time highs been a bit of a stealth rally but could well break out even higher then kefi will be well placed with two gold mine projects lined up. Gold doing well in spite of fun and games to suppress it a lot of money going into Bitcoin most of the mainstream media ignoring gold and some people thinking we will have soft landing so gold will not be needed as a safe haven. Any of the those four factors breaking down or breaking down more…
https://www.zawya.com/en/projects/mining/saudis-amak-says-its-moyeath-copper-zinc-project-is-95-complete-ltio0scx
https://bnnbreaking.com/finance-nav/kefi-gold-and-copper-secures-financing-for-ethiopias-tulu-kapi-gold-project-amid-regulatory-changes
https://www.globalminingreview.com/mining/26032024/ev-metals-signs-jv-with-power-metals-resources-for-saudi-arabia-mineral-exploration/
https://www.hellenicshippingnews.com/metals-saudi-arabias-new-oil/
https://abmec.org.uk/power-metal-resources-first-major-agreement-for-exploration-in-the-kingdom-of-saudi-arabia/
Fantasy they Rns anything they should do and fill out some of the details through other channels like just about every other mining outfit. The do all that and you still get the same questions when the answers have often been provided as people sometimes like to be walked through it or they simply do not understand the information.
SB
Slide 6 Tulu Kapi Economics
Breakeven Cost - inc everything e.g. debt repayment, taxes (US$/oz) 1,312 at 2150 dollars 1228 at 1850 dollars and ounce.
NPV at the the two prices on the slide.
That ok guys think i got the gist of it, its bit mad this end has of couple of polish painters in so had a polish radio station in one ear at full blast and the webinar in the other.
Https://www.investormeetcompany.com/investor/meeting/investor-update-43/presentation
Harry and Eddy answered all the questions that they could do looks like they might be able to use the recent grant system. htTps://circuit.news/2024/03/21/saudi-arabia-rolls-out-182m-in-incentives-for-mineral-exploration/ .
Was a bit surpsied by them considering Ethiopian listing but maybe Saudi money can invest into mining stocks through that now they are looking at investing in foreign mining projects. Think Harry was not enthusiastic about Saudi investment in TK as they already have the consortium assembled and getting near the finish line.
Sounds like kefi are being approached over TK and projects in Saudi by people wanting to do deals with them. Kefi has not been taken over yet due to sub 100 million dollars market cap but think Harry being a bit complacent over that it might hit the stage especially in Saudi were it just easier to take our the Kefi rather than compete with them and have economies of scale on other companies license areas neighbouring kefis.
Part three
Q. Saudi to provide funding for TK?
A. There is enough money in Saudi but no track record of investing in mines Ethiopia. Hot topic may be chance for investment in the future in other mining projects (including kefi projects).
Q. Conditional approval?
A. Everything is conditional from mortgages banks always have conditions.
Q. Sidf loan why not already used?
A. We would not borrow money for exploration (from Saudi?)
Q. Grants funding announced recently in Saudi for exploration areas?
A. We are going through the fine print on that we will see.
Q. Community resettlement when?
A. Responsibility of the government and guided by rules. Complex process. (post launch)
Q. Dividends?
A. Philsopically yes we are for it.
Q. Milestones?
A. Host land survey, final documentation, early earth works commenced. everyone wants to proceed companies pegging around us in KSA and offering us deals wonderful relief piece of cake compared to what it was.
Q. Knowledge and management transfer?
A. More locals involved in business.
Q. What's needed for sign offs?
A. It’s a process.
Q. More delays due to conflict in region?
A. Problem is the place where TK is erratic in out breaks green zone that occasionally flashes red needed government guarantees had to invent another solution that you will see shortly. Likely have a third round of peace talks. Meanwhile will have security. Both government and the rebels want TK to go ahead.
Closing comments.
We are transparent what we are trying to do is communicate, we are natural optimist we get it wrong occasionally. You have the privilege to go in and out of a stock when you want we are restricted but we understand the frustration of shareholders I have given ten years to this project it better bloody well pay off watch this space.
Part two
Questions
Q. Saudi listing?
A. We came to the view they are not ready for a pre production company. Ethiopia asking us to dual list in Ethiopia we think they are read and they have a new stock exchange.
Q. Would you consider to sell off TK to concentrate on Saudi.
A.Not a priority at this time.
Q. Value of assets considering gold price?
A. Covered in presentation capped at a fraction of TK when we bring on the Saudi project plenty of upside.
Q. Binding contracts when?
A. Complete drafting, big meeting then refresh numbers then sign.
Q. Second bank sign off?
A. First bank took longer than we thought called meeting then bank gave it approval in December announced in January second bank in the committee, initial part could be this month and the final part next month.
Q. Recent raise why nor wait longer to raise at higher price?
A. Mismatch with the fine print. What we intended to do was not raise till later but had to clean up the balance for closing.
Q Lack of updates? Company make an average of three Rns per month our a month, 13 since October we announce anything material.
Q Why are we still waiting on second bank?
A. See previous answer bank took longer than expected but we are expecting news from their soon.
Q Slow government pace do they deserve the benefits?
A. The community deserves the benefits.
Q. What hope for long term shareholders?
A. Sector out of favour lost time due to wobbles but upside is huge on frontier markets. Potential twelve times upside with most of the senior people taking their wages in shares we agree that it been elusive so far.
Q.4.3 billion gold why no bigger investors?
A. Companies have rules over market cap that inhibit investment into companies under 100 million market cap.(Think Harry a bit complacent here with Ivanhoe getting license areas around kefis).
Q. Exploration licence areas returned?
A. With the ministry so cannot discuss.
A. Capital will be broken down into segment in Saudi six percent after Sidf loan and partner we can bring in more financiers any number of things we kefi putting up tiny drop in the bracket.
Q Lowest investment value and how can I invest?
A.(think this question went over Harry and co head and you could hardily expect them to recommend when they thought the company would be at a low point)
Q Why difficulty in getting TK over the line?
A. See previous answers.