Member Info for Robjm66

HtTps://www.thereporterethiopia.com/26167/

"He told a group of investors, “we share the draft document not only with the local banking industry but also with international financial institutions with a plan to invest in Ethiopia.” He said he would be “more than happy” to get feedbacks from the international investors." African banks?

"Officials at the National Bank of Ethiopia (NBE) expect drafting process of the legal frameworks that would allow foreign competition enter the banking sector to be completed within two months." So June with this soon to be in place obviously condition three "Condition number three was that (the usual) banking restrictions were lifted so we had international control of our own funds flow and bank accounts, without any restrictions." Should not be a problem as if you have international banks operation freely you are going to have funds flowing freely.

Https://addisstandard.com/newsalert-ethiopia-issues-mobile-money-license-to-safaricom-m-pesa/ (Ethiopian banking sector reform)

“In December last year, Ethiopian Parliament approved the amended National Payment System Proclamation, which allowed foreign companies to participate in payment system operations, “to facilitate their participation without the need to wait for revised the banking law,” Central Bank Governor Mamo Mihretu said at the time.”

Https://www.miningmx.com/top-story/53232-barrick-ceo-says-west-should-show-more-resiliance-in-strife-torn-africa/ (mining in Africa) Think he is right about Africa too early to say about Sudan. Think lths here are pretty resilient.

Timing wise better to have a gold mine looking at producing at 2000 dollars plus than 1200 from a few years back and a lot easier to get one off the ground

https://www.kitco.com/charts/livegoldw.html

“Harry those were the three big hurdles as I just explained, there is more than enough expectation to warrant confidence..

The third condition is looming now (near to being solved) in respect of the banking arrangement.””Were” Not a huge amount to do and what is is not really down to harry.

https://www.fanabc.com/english/ethiopia-ifad-sign-grant-agreement-worth-106-54ml/?utm_source=rss&utm_medium=rss&utm_campaign=ethiopia-ifad-sign-grant-agreement-worth-106-54ml (Ethiopia general)

https://furtherafrica.com/2023/05/08/ethiopia-central-bank-raises-premiums-on-gold-price/ (Ethiopia mining)

https://www.argaam.com/en/article/articledetail/id/1641124?IRAccessToken=retal

(Saudi mining)

https://www.zerohedge.com/commodities/central-bank-gold-buying-record-breaking-start-2023-led-singapore

Https://www.kefi-goldandcopper.com/projects/saudi-arabia

https://www.kefi-goldandcopper.com/files/announcements/maiden-al-godeyer-resource-3april23.pdf

Https://www.zerohedge.com/markets/where-else-do-you-go-besides-gold-and-silver

https://www.proactiveinvestors.co.uk/companies/news/1014312/mining-highlights-endeavour-caledonia-trident-kefi-and-more-1014312.html

https://apanews.net/2023/05/06/moroccan-kenyan-financial-groups-eye-ethiopian-banking-industry-official/ (Ethiopia general)

https://twitter.com/Share_Talk/status/1654874934215348224

Kefi 7.23 mins in.

https://www.ft.com/content/db1911e9-ac77-4176-8afc-3c6e266ef027

barrick gold’s mark bristow is on the hunt for takeovers..the pugnacious chief executive of the world’s second-largest gold mining group expects gold and copper prices to rise, lifting mining stocks.

“because of our broad footprint of exploration across all prospective tier-one gold and copper jurisdictions, we have our geologists on the front lines.

barrick is seeking to grow its copper business by developing reko diq in ****stan’s balochistan province, which borders afghanistan, while focusing on exploration in the americas, saudi arabia and egypt.

https://www.barrick.com/english/news/news-details/2023/barrick-broadens-copper-base-in-saudi-arabia/default.aspx

https://africanminingmarket.com/13-companies-shortlisted-for-next-stage-in-licensing-for-saudi-arabian-exploration-sites-muhaddad-and-ar-ridaniyah/15509/

https://www.zerohedge.com/news/2023-05-04/feds-vulnerability-golds-strength

From Facebook mining page Ethiopia.

The ministry has reviewed the work done in the sector in the past nine months with stakeholders.
Minister of Mining Engineer Habtamu Tegwe stated that work has been done with banks, security agencies and regional administrations to prevent illegal activities in the sector. It has been noted that if the sector is coordinated by bringing foreign currency, creating job opportunities and increasing its share on the wealth of the economy, it has also been decided that illegalism should be prevented.
Regional officials have said that they will work together to increase the revenue from the sector. In the past 9 months gold, jewelry mines, tantalem and industrial minerals have been exported and earned foreign exchange income. On the other hand, coal has been replaced by domestic products. Employment opportunities for 146 thousand 784 citizens in the sector. It has happened. Illegal marketing and contraband are the problems that are challenging the sector and measures have been taken against those involved in contraband.

The key bit for kefi is of course

It has been noted that if the sector is coordinated by bringing foreign currency, creating job opportunities and increasing its share on the wealth of the economy,

Fits in with Ben comment in his video about the share of official revenue kefi will bring to Ethiopia.

https://twitter.com/BenGrahamStocks/status/1654022206098112513

@kefiminerals
recap coming up on Lets Talk Stocks later today looking at recent Tulu Kapi final umbrella agreement signing.

https://goldprice.org/

https://www.kitco.com/news/2023-05-03/Gold-price-above-2-030-as-Fed-Chair-Powell-talks-pause-in-tightening-and-changes-to-policy-statement.html
Was even higher late night

https://financialpost.com/pmn/business-pmn/ethiopia-to-offer-up-to-five-banking-licenses-to-foreign-investors (Ethiopia general) More banking reform looks good for kefi.

https://kbc.co.ke/international-business/article/38554/mastercard-partners-with-the-ethiopian-minerals-petroleum-and-biofuel-corporation-empbc (Ethiopia general)

https://addisstandard.com/newsalert-ethiopia-says-constructive-talks-with-ola-concluded-today-with-no-agreement/ (Ethiopia general)

https://saudigazette.com.sa/article/632150/SAUDI-ARABIA/Saudi-Arabia-to-become-a-main-player-in-global-trade-fields-nbspAl-Khorayef (Saudi mining)

https://uk.news.yahoo.com/newcrest-board-backs-19-5-000055150.html
(mining general)

As for Rab looks like they just saw another investment they liked a bit better than kefi to me plus they would have made the decision to start shifting their dosh a long time ago.

If it’s not Rab looking back suggests its someone who want to keep a low profile.
Kefi Q and A 11th of April
“For example, our service providers are largely payable at finance closing and our partners keep funding directly into the projects. The unsecured advances drawn are only half the levels we have used previously when we got up to c.GBP3 million. We greatly appreciate the confidence and support of our service providers and partners and of course the parties who provide unsecured advances.”

https://www.kefi-goldandcopper.com/files/files/Webinar_on_24Aug22-Additional-Q%26A.pdf

You have talked about new large institutions on the register for a while now but there haven’t been any RNSs which suggests nobody is above 3%. Can you give more information on who these institutions are? We have 6 UK institutions on the register and it is for them to report their shareholding once they individually exceed 3%. As part of their placing participation, they all hold warrants for future exercise post the signing of definitive agreements We also have a large finance syndicate members with operations in Ethiopia both coming onto the register in stages following the signing of definitive agreements, as set out in our guidance.

Q. Can you tell Shareholders more about the New Institutions on Board on this last placing and maybe any holding details or more information in regards to their participation?
A: They are mostly large institutions which are likely to end up investing more than they did on this placing. The regulations require them to declare when they go over 3% of KEFI so, unless they have split their holdings somehow that does not require disclosure, at least one will declare over 5%.

Harry did mention a shareholder had split their holding previously to avoid crossing a threshold and declaring their holding (not Rab) maybe its them and not Rab. If it was Rab why would they have sold down from 12.6 percent originally and not taken part in the last placing. Have rab really got that kind of money nowadays to just loan out that kind of money rather than directly invest?

Sorry Smellyben do you mean the money from the warrants?

https://twitter.com/UKinEthiopia/status/1651578827934498823

“I look forward to future visits to Ethiopia to encourage more business and trade between our two countries”
@lrobertsonTewks

https://twitter.com/kefiminerals/status/1653701920211476481

Australian Embassy, Ethiopia, attended the Invest Ethiopia's Investment Conference to witness the singing of Tulu Kapi Gold Mines' Final Umbrella Agreement with major industry partners. Chairman Harry Anagnostaras-Adams was in attendance and spoke at the event, pictured below.

Rab sold down a tranche of Rockhopper exploration not long ago but will have a bigger slice of Viva gold and could be looking at having a even bigger slice.

https://finance.yahoo.com/news/rab-capital-discloses-additional-investment-233300596.html

https://vivagoldcorp.com/site/assets/files/5836/nr_23-6_viva_announces_closing_of_private_placement_offering_-_march_24-_2023.pdf

https://rockhopperexploration.co.uk/investors/shareholder-analysis/

https://otp.tools.investis.com/clients/uk/rockhopperexploration2/rns/regulatory-story.aspx?cid=441&newsid=1674612

As 24.83 is substantial chunk of Viva gold maybe selling down Rockhopper and kefi to concentrate on viva gold.

https://vivagoldcorp.com/corporate-presentation/

Commence Feasibility Study: Mid 2023

https://www.youtube.com/watch?v=aO5kSyFGHgI viva gold corp

It does look like an interesting investment to me though personally will not be selling any kefi to invest there.

What did everyone else turn up with their research?

He was very chilled and relaxed and things are getting done now.

Part two.
because we can see developments, so that is why there was the signing and contractors.. life of mine contract on the construction side between them we are signing contracts over the best part of a billion dollars here (over lifetime of mine) not just those two but overall. Its a huge commitment and has to be done right.

Harry The upfront Capex is 324 million dollars for the syndicate but a whole swathe of other contracts being signed.So huge job and critical it be done properly.

Harry now everyone can see it is lining up to go.
It is happening and everyone wants it to crack on.
Watch this space.

Transcript of proactive piece part one

My comments in brackets as usual.

Interviewer Welcome to harry Adams..how are you?

Harry. really good thank you.

Interviewer You have been attending a ceremony in Addis Ababa get us up to speed.

Harry. Well the ceremony was not to do with us really but more that the government was announcing globally that the government was switching its focus from investment from government and government to government, to private sector growth and private sector funding.

Harry. Because of the importance of our project both the government and ourselves kept pushing things to be ready by the time of that conference so it could be used as a case an example to demonstrate to the world and the mineral sector internationally that Ethiopia I son for business so to speak.

Interviewer Did you mange to get some important milestones reached before the ceremony?

Harry we did. If we go back a year we had a preliminary Umbrella agreement between the syndicate signed off and we announced it at the time..it was essentially saying lift the suspension on the project and lets update due diligence technical legal documentation update costs and so on. That whole exercise rolled forward and there were some conditions precedent before any launch. The two (African) banks demanded the same rights and privileges (as Ethiopian banks). One of those banks had those privileges granted by the government and the other one required the same. That was condition number one.

Harry. Condition number two was that security settled down sufficiently. Condition number three was that (the usual) banking restrictions were lifted so we had international control of our own funds flow and bank accounts, without any restrictions. These things might not be familiar to many people but in developing countries these issues have to be dealt with when you start of a new sector those three conditions were not lining up till recently (Ex mining minister?).

Harry Since February they have been lining up. We have not got finished on them but in March the first one was dealt with and announced and internationally applauded. In April the second one was addressed in with redeployment of military forces and peace talks. All this is not secret but critical for us. The third condition is looming now (near to being solved) in respect of the banking arrangement.

Harry so the signing the other day was real progress on those three key things and everyone kind of hurried a little bit to be there to help the government and kefi promote the story.

Interviewer And Harry hurry is the operative word (hurry up Harry interviewer sham 69 fan) as you are trying to reach construction forth quarter of this year. How realistic is that do you think?

Harry those were the three big hurdles as I just explained, there is more than enough expectation to warrant confidence (great expectations) because we can see developments, so that is why there was the signing a