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Https://www.youtube.com/watch?v=B7d88nJbycU Robert Friedland Ivanhoe Electric
“Abu Salal is some 50km south of Hawiah and we have already identified a number of additional targets showing similar geological characteristics that are to be drill tested. Interestingly we note that Ivanhoe Electric, through its JV with the State mining company (Ma’aden), has committed to +US$60M of exploration in Saudi Arabia and more specifically has picked up licences in and around Hawiah not held by GMCO, and confirmed this district as amongst their
top four exploration priorities in Saudi Arabia.
Drilling has intercepted massive and semi-massive sulphide mineralisation containing copper, gold, zinc and silver, in multiple horizons, across a 2,600m strike length, with true widths of up to 11m, indicated by the first-pass 18-hole (2,009m) scout drilling programme
o This north-south trending gossan horizon, remains open at depth, along strike and down plunge
o Assays of Abu Salal’s sulphide mineralisation has returned multiple grade intervals of comparable to those at GMCO’s Hawiah discovery, which already ranks in the top three of base metals projects in Saudi Arabia
Https://www.kefi-goldandcopper.com/files/announcements/kefi-abu-salal-discovery-19feb24.pdf
"Assays of Abu Salal's sulphide mineralisation has returned multiple grade intervals of comparable to those at GMCO's Hawiah discovery, which already ranks in the top three of base metals projects in Saudi Arabia"
This is why Artar want kefi on board as they keep making discoveries.
Https://www.youtube.com/watch?v=dkfBPYLuGQg gold
https://www.mining.com/joint-venture/jv-article-msalabs-probes-global-expansion-after-swedish-mega-find/
Extract
“The next facility will be just on the other side of the Arabian Nubian shield at the Jabal Sayid mine, a joint venture by Saudi state mining company Ma’aden and Barrick.”
“The Arabian-Nubian Shield located primarily in Egypt and Saudi Arabia is highly prospective and underexplored,” Thomson said. “The increasing attention is timely as the shield’s geology can yield elements the world needs to decarbonize.”
https://www.zerohedge.com/news/2024-02-16/gold-2350-mitsubishi-reiterates-our-most-bullish-call-2024 gold
Https://www.africa-newsroom.com/press/africa-finance-corporation-afc-unveils-strategic-partnerships-to-boost-africas-mining-sector?lang=en
https://newbusinessethiopia.com/mining/afc-unveils-partnerships-to-boost-africas-mining-sector/ (same story with some related links)
AFC is the second bank involved with kefi.
Kind of kills the theory that AFC will not invest in mining projects and mining deals can only be done in countries that are very peaceful if you look at the countries on the list.
Looks like the tie up between kefi and the banks has triggered a major shift in gears of African banks investing into African mines.
“Speaking at the signing, AFC’s Chief Investment Officer Sameh Shenouda said: "While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects. Recognizing the significant funding gap in the African mining sector, AFC is committed to pragmatic solutions and supporting the sector's growth, having invested about $1 billion across metals and critical minerals in several African countries. Through these strong partnerships with like-minded stakeholders, our goal is to open up new markets, promote a greener economy, and contribute to the overall development of African countries."
Plump I have the same information as everyone else we know who most of the consortium members are contractors local and national governments contractors kefi the only ones we do nor know are " local subsidiaries of multinational corporations who have been given Government permission to invest local currency and be repaid in hard currency, repayable in cash or equity at KEFI's election as from year 4 at then market prices;" and as their investment is a mechanism that enables them to repatriate profits they would otherwise not be able to and kefi does not have to repay them till the mine is churning out revenue its win win.
Plump somehow must have missed mining companies Rnsing about sub committees do you work for the civil service?
Actually the company is more sure now who pays for what..
“The Company can now report that all the other parties in the funding syndicate, have advised they will this month go to their respective committees to approve the proposed transaction.” To approve so kind of past the sub committee stage.
You should know all this already its not as if you did a disappearing trick like TCM.
Https://trendsnafrica.com/african-local-banks-urged-to-finance-mining-activities/
Wonder if this story happened as the consortium met at the conference. TK finance deal could be a prototype for other deals in Africa?
https://bnnbreaking.com/politics/saudi-arabias-industrial-and-mining-sectors-powering-economic-revitalization-and-sustainability (Saudi mining)
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2847-cse/kuya/155996-kuya-silver-participates-in-winning-bid-for-umm-hadid-silver-project-kingdom-of-saudi-arabia.html
https://stockhead.com.au/resources/like-nimble-gazelles-asx-juniors-are-waltzing-into-africas-virgin-territory-for-critical-minerals/ (Saudi/africa)
Https://investmentpolicy.unctad.org/investment-policy-monitor/measures/4494/saudi-arabia-offers-a-30-year-tax-relief-package-to-attract-regional-corporate-headquarters-#:~:text=On%205%20December%202023%2C%20the,international%20investment%20to%20the%20Kingdom. Saudis are actually giving money away. The sidf loans will eventfully have to be paid back out of the profits of the mine.
“The Jibal Qutman Definitive Feasibility Study (“DFS”) is evaluating the economic and technical feasibility for building a set of adjacent open-pit mines and a centrally sited Carbon-in-Leach (“CIL”) processing plant, to recover more than 500,000 ounces of gold, rather than the 169,000 ounces of gold originally envisaged in the 2015 Preliminary Economic Assessment (“PEA”).”(previous to recent discovery)
Biggest cost in mining is energy which is so cheap in Saudi other countries are starting to export their mineral to Saudi to be processed. Plus looking at a open pit Cil operation that will be low cost with the high possibility of other discoveries.
Kefi looking at an expanded operation as that will make more profits so will be easier to finance.
"up to 75% of costs (including both feasibility and development expenditures) potentially being provided as Shariah-compliant project loans at internationally low rates from the Saudi Industrial Development Fund; plus
• the remaining capital requirement of approximately 25% to be optimised by the GMCO partners who will ordinarily plan to fund it pari passu, or could potentially consider the range of mezzanine and equity finance now on offer in Saudi Arabia, if warranted at the time."
Stan Just pointed out that the sidf will cover 75 percent also Artar will cover the majority. Then there is the nature of the deposits in The JQ area which are low cost themselves. Harry has already said they had people swarming their booth at the recent Saudi conference. The only drawback is the mine will be bigger than originally envisaged due to a higher gold price and that's if you think a mine that will make a lot more money is a drawback. Vorsprung durch Technik 😉
Copper and Saudi
https://www.kefi-goldandcopper.com/projects/saudi-arabia/hawiah
https://www.royalroadminerals.com/assets/documents/CORPORATE-PRESENTATION-2024-FEBRUARY.pdf
https://www.youtube.com/watch?v=2dJ_71J-Po0
Https://bnnbreaking.com/politics/saudi-arabia-at-a-crossroads-resource-nationalism-vs-international-partnerships-in-the-pgm-industry
https://www.bnnbloomberg.ca/modern-mills-holders-seeking-to-raise-314-million-in-saudi-ipo-1.2035127
Modern Mills is set to be the second company to launch an IPO in the kingdom this year, after drugmaker Avalon Pharma drew institutional investor orders worth 68.3 billion riyals for its 492 million-riyal listing.
The Persian Gulf has been a booming market for IPOs over the past two years, with high oil prices and increased international investor interest driving the positive sentiment even as share sales slumped globally.
https://www.zawya.com/en/markets/equities/saudi-arabias-modern-mills-sets-ipo-offer-price-could-raise-up-to-314mln-botzvrof
https://www.agbi.com/trade/2024/02/hundreds-of-companies-consider-saudi-arabia/
A survey of 660 companies described as high-growth and from more than 50 countries around the world found more than two thirds were considering expanding into Saudi Arabia.
https://www.youtube.com/watch?v=B7d88nJbycU background on Saudi mining sector not as dry as it sounds.
repost
https://www.cnbc.com/2024/01/10/saudi-arabia-nearly-doubles-estimate-for-the-value-of-its-mineral-resources-.html
A bit of background on the development loan mentioned by the company and the SIDF on its fiftieth birthday.
https://www.kefi-goldandcopper.com/projects/saudi-arabia/country-info
Saudi Industrial Development Fund provides loans for up to 75% of the capital cost of mine development at nominal interest rates;
https://www.argaam.com/en/article/articledetail/id/1704891?IRAccessToken=arriyadh
https://en.wikipedia.org/wiki/Saudi_Industrial_Development_Fund
The SIDF has supported over 4,000 projects over the last 50 years, with loans totaling more than SAR 180 billion. These projects have an investment value of around SAR 700 billion, according to Alnammari, who spoke on the sidelines of the fund's 50th anniversary.
Alnammari stressed that, following the launch of Vision 2030 and the National Industrial Development and Logistics Program (NIDLP), SIDF's capital developed and the statute changed to include the industry, energy, mining, and logistics sectors.
as well as Iron, logistics, and mining projects.