Member Info for Robjm66

Inflation already high in Ethiopia been so for years buts that in the local currency some people have short memory.

Kei Q an A section

The Dutch downgraded Ethiopia's credit rating due to exchange rate risk. What risk does exchange rate pose to our TKGM project in Ethiopia?

A: Our revenues will be in USD and our costs partly in USD and partly in Ethiopian Birr. Therefore the downside on the Birr (against the dollar) is, for the most part, an upside for TKGM and the country. That is why the country wants to build its USD export sector which TKGM will be a major contributor to.

Posted 06 November 2023

It’s a bit more nuanced basically Ethiopia trying to get a similar deal to to the one agreed elsewhere and projects that will bring money in would be the last things cut as creditors could see the the future income as a way to eventually get paid back and the government needs the future income.

https://finance.yahoo.com/news/1-ethiopia-finance-ministry-investor-064555301.html

“However, given recently secured debt service suspension agreements with official creditors, including China, and some commercial lenders, the finance ministry said in a statement on Monday that it would "seek a broadly similar treatment" from bondholders.

But in separate comments made to Reuters on Monday, Eyob Tekalign, State Minister of Fiscal Policy and Public Finance, told Reuters that "authorities' intention is to remain current on our obligations".

He also said there would be a call with investors holding the international bond on Thursday, December 14.”

Thanks Robbieishere could be Christmas has come early.

Wherever you are there are plus points and negatives try to mine in the US and its take seven to eleven years to get permission assuming you can get it ditto most of Europe. South America and you are worrying about a socialist government nationalizing the mine ditto South Africa, China and Russia sanctions Canada and Australia going to have to compete with hundreds of other mining companies for every prospect.

Kefi are actually lucky that most of their projects are in Saudi and they managed to get in before the crowd arrived and now have a very big exploration portfolio there.

The extra joke is that MU is actually doing what he is accusing me off

Construction crews are on their way to Tulu Kapi, Anagnostaras-Adams says.

(Then gap new paragraph.)

Once the company secures final approvals from lenders, field, legal, plant, and mining teams will work to solidify community resettlement agreements, secure procurement contracts for the plant and mining fleet, and complete deals among all project partners.

...

Possible that paper should have combined the two paragraphs or used the construction crews are on their way as a sub heading then the next paragraph but the overall piece suggests the banks (plural) are not far off agreeing for all systems go.

Have to laugh now getting moaned at for not copying and pasting the whole thing after I pointed out I did not copy and paste the whole thing from the same people that moan about me copy and pasting too much. We already know that the banks approving is the stage we are at and think in this case people will follow the link and read the whole article.

"The banks" don't write to anyone. "A bank" might, but "the banks" don't.”

Just a reminder there are two banks in the consortium.

The best indicator is the beefed up security on the site that happened “just last week” the Ethiopian government not going to do that casually and they are going to be impatient for this to get done. Possible that it was one of the conditions that the banks asked for and wanted to double check hence the asking for more time.

I leave others to commit the heinous crime of copying and pasting the whole article if they want as would not want to give the usual suspects the vapors.

https://www.northernminer.com/news/kefi-gold-and-coppers-tulu-kapi-build-to-put-ethiopia-on-global-mining-map/1003861838/

However “This isn’t just a mine opening; it’s a strategic economic milestone for Ethiopia,” Anagnostaras-Adams, who’s also Kefi’s executive chairman, tells The Northern Miner in an interview. “The construction start symbolizes Kefi’s role in the nation’s budding gold sector.”

The government rolled out an increased security presence in the mine’s region just last week to ensure the area’s safety and stability. It was one of the company’s preconditions for giving the project build the green light. Others were government licencing of a foreign bank involved with the project financing and relaxed foreign currency controls.

Construction crews are on their way to Tulu Kapi, Anagnostaras-Adams says.

Once the company secures final approvals from lenders, field, legal, plant, and mining teams will work to solidify community resettlement agreements, secure procurement contracts for the plant and mining fleet, and complete deals among all project partners.

Kefi Gold and Copper’s Tulu Kapi build to put Ethiopia on global mining map

Kefi Gold and Copper executive chair Harry Anagnostaras-Adams. Credit: Kefi Gold and Copper

The teams will also obtain approvals from equity-capital providers, including development banks, regional investors and government entities.

Basically the mine is going ahead.

For the usual suspects that are fascinated by me but have zero or minimal holding or interest in this share. The more you try to target me the longer I will be here meanwhile you are just going to bore everyone's rear end off. Personally will be quite happy to exit when the shareprice is multiple of what it is now and I see a better opportunity.

Back to kefi and predictions, kefi will get there with TK its just a matter of when. It’s the last crucial stage really the banks go signal once kefi has that it all just process with TK. Get that and suddenly we will have a mass conversion of a lot sceptics that Harry and Kefi are incapable of getting a project over the line.

After the fate of TK is settled the focus will naturally switch to Jibal Qutman and Saudi which will be child's play in comparison to Ethiopia with the SIDF loan and all the money that is sloshing around Saudi then its onto Hawiah. Also looking at a middle eastern listing and a much higher gold price in with gold probably breaking out sometime next year. Would also expect expansion of kefi current deposits and further discoveries.

Could be leak or just someone who is just confident while they are delayed trades the clue is the second trade was done at a higher price. Pity you just had the one trade that looks like a sell that dragged the price down otherwise the shareprice would probably be up on the day.

Https://www.argaam.com/en/article/articledetail/id/1690085 (Saudi mining)

https://www.zawya.com/en/projects/mining/saudi-targets-one-million-ounces-of-gold-production-by-2030-jmwx2s1c

Looking at the volume market on the fence but this will get done for the simple reasons that Ethiopia needs the money and the world needs the minerals.

Ethiopia been going from an old style communist command economy to a modern capitalist economy with increasingly open markets. That means engaging with western companies and basically anyone that wants to do business.

https://news.yahoo.com/ethiopias-call-foreign-investment-banking-145053676.html (Ethiopia foreign investment)

https://www.fanabc.com/english/ethiopia-eu-agree-to-support-national-efforts-to-consolidate-peace-accelerate-economic-reforms/ (Ethiopia economic reforms)

Thanks Nick. Think people will be happy to get news Plump and happy funding is still on track.

Https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231207_1 The Akobo presentation hopefully the link should work but if someone comes across a better link post it up.

“both of which are very close to finalizing their finance now.” (Talking about kefi and Allied in Akobo live presentation this morning.)

https://mb.cision.com/Public/20964/3889404/be85f38b9b052d64.pdf

The finance comment is about 36 minutes in, webinar slide 21 was up. Thought I would be cheeky and ask a question “What do you think of other international miners and the potential of the Ethiopian mining sector in general?” They answered the Question well, basically what kefi has been saying about Ethiopian mining.

Akobo started 2010 Ethiopia now have a mine that is producing gold that's mining maybe if you do not understand mining stick to the football.

Https://mb.cision.com/Public/20964/3889404/be85f38b9b052d64.pdf (Akobo Ethiopia mining slide 22 other mining companies Akobo started 2010)

https://www.marketscreener.com/quote/stock/AKOBO-MINERALS-AB-PUBL-124707121/news/Akobo-Minerals-announces-results-for-the-third-quarter-of-2023-45519555/ (Ethiopia mining)

“both of which are very close to finalizing their finance now.” (Talking about kefi and Allied in Akobo live presentation this morning.)

Thanks SB I admit have been posting an increasing number of links but that's because the Saudi mining sector is taking of in a massive way (its effectively a new gold rush) and the Ethiopian mining sector is just starting to take off and gold is at an historical pivot point. Then you have kefi spread across three major projects and two countries. There is simply a lot more news and developments out there.

I will eventually have to drastically cut back on the volume of my postings due to how much time it is soaking up but by then hoping we have many more posters and shareholders.

Https://www.csis.org/analysis/saudi-arabia-has-strategic-advantage-sourcing-critical-minerals-africa (Saudi mining)

https://finance.yahoo.com/news/guardian-exploration-announces-proposed-acquisition-140146344.html(Saudi mining)

https://saudigazette.com.sa/article/638409/SAUDI-ARABIA/Alkhorayef-highlights-mining-sectors-key-role-in-boosting-energy-transition-in-green-manufacturing?ref=rss&format=simple&link=link (Saudi mining/Copper)

You could tell the wife and kids you spent the money on hard drugs and women of the night instead. Joking apart if your nervous just wait to see what comes out of the meetings you could well miss out on a big move but would expect kefi to have other uplifts in the future..kefi not just for Christmas.

Well obviously Allied gold is relevant due to them investing 500 million dollars in their project in Ethiopia.

The lithium news is relevant on two levels one showing continuing growth of the mining industry in Ethiopia they other that is lithium and kefi was hinting at getting into lithium mining. Guess I could have spelled this out more by copying and pasting some links lol but assumed most people here were bright enough for the relevance to occur to them.