Member Info for Robjm66

https://www.miningreview.com/battery-metals/erg-enters-saudi-arabia-with-long-term-investment-plan/ (Saudi investment climate)

https://saudigazette.com.sa/article/629246 (Saudi investment climate)

https://www.zawya.com/en/press-release/companies-news/sabb-signs-an-agreement-with-the-ministry-of-industry-to-automate-bank-guarantees-vxniu5hu

(Saudi investment climate)

Bishop I do not trade in and out of this stock nowadays but from past expedience the spread of trades actually going through is often smaller than the headline rate if you want to call it that. We often have big discussions over any major buy or sell wondering which it is for example.

Saying that might have a wider spread in morning in case good news drops or there is a leak. Then you have the pattern where good news drop but its not the news traders are waiting for then you might have a peak followed by a drop then followed by a gradual pick up as the news sinks in and the more investor oriented person picks up what they see as cheap shares. Then throw in the usual tree shakes, de ramping, people not really understanding news, people selling to have a temporary punt on another mining stock and all the usual fun and games you get on an aim mining stock.

TW comment on share prophets.

Probably in Transit as due to attend or on his way back from mothers funeral. John leech is capable of arranging a placing if one is even needed.

part two
I think we are away and do not think anyone wants to muck around and block the money flowing or block the project proceeding. Lots of work to do. Only 8.30 in the morning here in London where I am in transit, think I have already had three meetings this morning with different teams and so on, so everyone is flat out, very exciting at last so to speak everyone feels at last we can close this financing and get on with it. So that is the feeling in the company, feeling surrounding the company we will push hard to make it happen.

Rough transcript my take away is kefi has government backing and it just a matter of box ticking now. Part one.

Interviewer First time speaking this year but of to a strong start and news out just this week?

Harry Kefi has kicked of very well trying to achieve a whole bunch of things we nearly achieved all of them last year but not quite.
But the main point really is the momentum on both of out business units Ethiopia and Saudi is in my view unstoppable now. For a whole host of different reasons but they all melt down to changes being made on the ground by the host governments that have really put the full force of the government behind us in both countries.

I was in Riydah for week a couple of weeks ago and its really quite palpable the progress of out projects and the support of the government now.

I was in Ethiopia last week and I can say exactly the same thing I am now in transit but from the point of kefi kicking off well it has been a very good start.

Interviewer and the news I believe you announced on Monday did pertain to TK to do with the financing.

Harry well it does. Kefi was started to a two million pound IPO and it spent its first eight years as a prospector run by a very skilled world class prospector led the team. Then we got into what i call the development, permitting, financing both countries and it was a rough trot really up until the last year in both countries. Logjams political confusion around the industry and our project where tiresome to say the least for everybody concerned. But I think what has happened in Ethiopia is now is a good measure, we are managing and it really a quite remarkable achievement if I may say so and touch wood we close everything exactly as it appears now.

We started as a two million pound company and now and we are about t transform into many times that. By having assembled a finance package for the largest export generator for Ethiopia and having assembled it at the project level without relying on what I can only call a very weak stockmarket.

So I am very proud on what we have achieved to date but we have to close I understand everyone understands. We have a very driven team on the ground we have very driven government support now. In a sense now the achievement might sound a bit good and bad but the achievement is we have brought everyone together and now everyone is pointing in the same direction without any confusion or obstruction from anybody and really we have to tick the boxes to satisfy the banks the banks are the boss really. The banks are putting up 190 million dollars of 320 million dollar package and they are demanding that everything is done by the book and that’s exactly the way it should be for the first major deal in Ethiopia for thirty years in mining.

Read the report Equity Finance (US$130m) Subscribers to new shares in Tulu Kapi Gold Mines (TKGM) including (in addition to US$80m historical investment) the Ethiopian Ministry of Finance, the Oromia Regional Government,the Ethiopian Evangelical Church of Mekane Yseus (which helps align corporate and community interests),
https://www.biblegateway.com/passage/?search=Matthew%2014%3A13-21&version=NIV

In March 2022, Al Masane Al Kobra Mining Co (AMAK) listed on the Saudi Stock Exchange, raising US$333m at a price of SAR63/share, for a 30% stake. According to argaam.com the institutional offering was oversubscribed 73.6x.
In January 2023, several new initiatives were announced around the Futures Minerals Forum held in Riyadh. The Saudi Arabian sovereign wealth fund, Public Investment Fund (49%), and Ma’aden (51%) announced a new mining fund that may invest up to US$15bn in overseas assets, according to reports.

"Tulu Kapi will be the first modern gold mine in Ethiopia. In Saudi Arabia, Ma’aden has discovered some 8 Moz gold in the Central Arabian Gold region in the past 20 years. The Wadi Bidah Mineral District, which hosts the Hawiah deposit, is probably the only VMS belt in the world that outcrops as much, remains as underexplored, and is as highly prospective. KEFI has a
phenomenal opportunity to explore and ultimately, to exploit, these resources"

Good start

KEFI looks incredibly undervalued: Valuing Tulu Kapi as a development stage asset at US$1,000/oz of attributable planned production, and Jibal Qutman and Hawiah on attributable resources at US$60/oz gold or gold-equivalent (AuEq), both in line with peers, suggests a current valuation for KEFI of 4.5p/share. This is 6x the current share price.

Thanks bear last Orion research report was really high quality.

https://www.zerohedge.com/commodities/extremely-tight-market-could-push-copper-prices-record-highs (copper)
https://www.zerohedge.com/markets/central-banks-turn-gold-losses-mount (gold)
https://www.proactiveinvestors.co.uk/companies/news/1004175/gold-miners-to-watch-as-speculation-mounts-that-us-2-000-per-ounce-is-in-sight-1004175.html (kefi mention)

https://www.arabnews.com/node/2238071/business-economy (Saudi mining)

https://financialpost.com/commodities/mining/gold-miners-keep-merging-tin-big-thing-yamana-peter-marrone (gold and miners)

https://www.businessdailyafrica.com/bd/economy/imf-projects-ethiopia-angola-economies-to-overtake-kenya--4098034 (Ethiopia investment climate)

https://www.fanabc.com/english/ethiopia-aims-for-2bln-from-upcoming-io2023-lbdc/ (Ethiopia investment climate)

From kefi website Q and A (below) (1) think the endorsement to 2020 was the big one as covered a longer period of historical investment and does not really make any sense to agree to that period and not the recent one think we know who was the problem there now hardily a coincidence that period covered was the same one as a certain personage was in charge of the MoM.

(2) Ditto really, everything was aimed for December sign off then a certain party..

(3) From a ordinary shareholders perspective (mine) whether overall is TW support a negative or a positive for the company and its future shareprice is more important that the hair splitting. Historically kefis marketing and PR been a weak point and in certain circumstances (like recently) is in a companies advantage to have a party that can be a bit more open on developments where the companies hands are tied over what it can say. Going forward when kefi starts catching the attention or more potential investors TWs involvement will lead to a higher shareprice, you can take TW or leave him but i will take the higher shareprice thank you.

"(1)Q: KEFI's RNS dated 23 January 2023 states that Ethiopian Ministry of Mines needs to complete endorsement of historical investment. This appears to be contradictory to KEFI announcements in July and August 2022 stating this issue had been resolved."

"A. Those announcements noted that historical investment to the of end 2020 had been endorsed by the MoM. Subsequent investment to the end of 2022 is now awaiting endorsement."

"(2)Q. Why did KEFI not release a Tulu Kapi financing RNS prior to 31 December as promised? There seems to have been weeks of delay to communicate the same info."

"A: 31 December was a deadline for actions by various parties, not for the RNS. The RNS was drafted in January after knowing the results of pressuring everyone for what was targeted for December. Then we had to await sign-off of the RNS by all parties named in the RNS."

"(3)Q: I do not agree that journalists who publish share tips can be taken offside.

A: Any journalist or professional shareholder (as defined in the regulations) is treated the same. Individual shareholders cannot be treated the same, as the authorities have no way of policing either their identity or their regulatory compliance."

Posted 25 January 2023

Makes sense politically for the Ethiopians to put any scandal behind them by accelerating TK and economically to encourage international miners that wold have been watching trying to decide whether to invest or not. Even more so now with gas and oil discoveries.

Past post
https://www.argaam.com/en/article/articledetail/id/1614641
see above Saleh Al Rashed & Sons eyes expansion in mining sector, listing on Saudi market: CEO

"Elsewhere, Al Rashed unveiled SAR’s plans to list shares in the Main or Nomu-Parallel market.

"He added that the company got almost 27 mining licenses, as it operates in the fields of silica and calcium carbonates. It eyes expansion in the production of several materials, but it is still in the exploration phase."

From Today (24/01/23 with the Rashids being involved in construction materials this gong to competitive bidding will only increase their desire to got to a listing as soon as possible.
https://www.zawya.com/en/projects/mining/saudi-offers-12-quarrying-projects-to-investors-tqgoq9sz

https://www.alrashed.com/

https://www.kefi-goldandcopper.com/files/presentations/kefi-investor-london-investor-presentation-28nov22a.pdf Page slide 24 Kefi comparison betwen Aamk and Kefi Company/Harry also mentioned a somewhere it depends on Artar but if kefi are still pursuing it suggests they are positive about the idea.

Listing has looked a possibility since the successful Amak listing in march of last year Fantasy which I highlighted, and been mentioned in webinar which was posted about extensively. The possibility would only have been strengthened by the push from attendees at the recent Saudi conference for mining listings and the Al rashids Brothers (a company not that different to Artar) saying they wanted to list. I am bit hurt don’t you read the stuff I post up ;-)

https://www.thisismoney.co.uk/money/investing/article-11667277/SMALL-CAP-IDEA-smaller-gold-mining-firms-better-option.html

https://www.miningweekly.com/article/tulu-kapi-gold-project-one-step-closer-to-financing-2023-01-23

Thanks Frank. Mining minister just waiting confirmation in his position from parliament looking at the other recent confirmations of various roles that part should not take long.

"then onto Kefi Gold & Copper (KEFI)," Tw bearcast