Member Info for Robjm66

Would not say kefi is a high or even medium risk investment anymore with the return of the JQ licence, Hawiah the additional licence areas and the chance of a Saudi listing. Its kind of two companies in a way with the area that has the most long term potential to boost revenue and the share price (Saudi) hardily talked about. Be glad when TK is done and dusted then the focus can switch to where the main opportunity is.

https://www.edisongroup.com/publication/counting-down-to-production-2/31750/

“The formal announcement of the permanent cessation of hostilities in northern Ethiopia on 2 November, by both the Ethiopian government and regional Tigrayan forces, marks an important milestone in bringing Tulu Kapi into production.

Launch by the year end on signing the definitive agreements would be a very successful outcome in the context of macroeconomic uncertainty and in a country in which the working environment might reasonably be described as challenging.” Panda again read the report properly. As for TK has a lot of regional support across the political spectrum as in everyone's interest to see it go ahead there, local Oromos especially.

https://www.edisongroup.com/publication/counting-down-to-production-2/31750/
as well as senior secured debt provided by banks that are already working in Ethiopia, committed to the country and familiar with local market conditions and many of Tulu Kapi’s stakeholders.
The lender terms have been agreed subject to formal credit committee approval of both banks, one having approved last year and now both processing formal approvals of the updated terms sheet.

Harry said previously they can still work through the wet season though not ideal for some things. Plan not failing just taking longer than expected due to its complexity and multiple partners that all have to be kept happy. A big positive of the latest delay is the higher gold price up from near 1600 to bouncing around or near 1800 which means a better offtake deal and profits.

“Quantitatively, KEFI’s most significant valuation sensitivity is towards commodity prices. Whereas our valuation is 2.19p at Edison’s long-term gold price of US$1,524/oz, it rises by 101.8%, to 4.42p/share, at currently prevailing metals prices.” Best result might be if kefi took its time and see if we have a Santa rally for the gold price but doubt my nerves could take it.

From TW.

https://*************.com/views/65704/i-know-it-s-edison-but-a-scotching-of-kefi-doing-a-placing-rumour-and-a-valuation-that-says-shares-should-treble-or-more

In the context of our valuation of KEFI, it is worth noting that the company’s financing arrangements will leave it with zero debt at the parent company level, with group subsidiaries directly servicing any senior or mezzanine debt. As a result, dividends to KEFI shareholders from mid-FY25 should be possible.

However, we believe that this risk is mitigated by the fact that the term sheet regarding the terms of KEFI’s bank loan is already reported to have been signed and is subject now only to credit approval by the co-lenders (credit approval from the lead bank having already been secured, to our understanding). As such, this form of funding is considered to be more easily compatible with the project’s consortium than a number of other alternatives. Hence, KEFI is expecting the signing of definitive agreements at end-2022 and drawdowns/disbursement of equity to commence early in 2023 and the committed debt to be drawn down and disbursed as and when required in 2024.
A lot to take in here but it seems all good just need to get everything finished year end then warrants exercised which should not be a problem once everything is signed off.

Big thanks Bostanli. Well lots of detail obviously from the company the quoted share prices in Bostanli post is pre funding so hopefully kefi is a gold star not a black hole.

Hopefully people will take the time to read through the whole document so they will understand the funding will be done in tranches and we will not get the usual comments of the whole amount should be sitting in at the bank for use on day one even though it will not be needed then. Also note the offtake arrangement and carried forward tax loss.

“the signing of definitive agreements at year-end.”

A carried-forward tax loss of US$95m has also been applied to future pre-tax profits before tax is payable.

In addition, clarification received from the regulator (the National Bank of Ethiopia) indicates that historical exploration spend on the project of c US$95m will be deemed to contribute towards equity for the purposes of this calculation. Assume this is carried forward tax loss.
Subordinated debt linked to offtake rights 45.00

https://en.wikipedia.org/wiki/Heidelberg_Tun#:~:text=There%20have%20been%20four%20such,litres%20(57%2C854%20U.S.%20gallons).
https://indianexpress.com/article/trending/trending-globally/mexico-city-chefs-make-74-metre-long-torta-sandwich-break-world-record-8072773/

Huge and you are getting the first round.

https://www.arabnews.com/node/2211196/business-economy
However, with the prices of valuable minerals, especially gold, copper and zinc rising, Saudi Arabia expects the value of its current mineral wealth to double from the previously estimated $1.3 trillion, CEO of the Saudi Geological Survey Abdullah Al-Shamrani said in September.
Future Mineral Forum G and M exhibiting and Brian Hosking speaking
https://www.prnewswire.com/in/news-releases/future-minerals-forum-enlists-think-tanks-to-champion-innovation-and-develop-thought-leadership-301694812.html
https://www.futuremineralsforum.com/program/speakers/
https://fmf23.mapyourshow.com/8_0/floorplan/index.cfm?hallID=A&st=keyword&sv=gold

This puppy is just not for Christmas LL. Joking apart seems it is in the hands of the Ethiopians how fast this goes now which is good as they are the consortium partner that needs this project the most. As for Saudi listing harry enthusiastic just depends on kefi partner which I think are likely to be positive as it means the JV would be able to avoid being out bid by the big international miners and it would help demonstrate greater Saudi involvement by having Saudi shareholders which would also help get new areas. Only reluctance on kefi side is they are concentration most of their energy getting TK over the line at the moment.

Kefi kind of blew the opportunity of the presentation's and Q and A sessions. Should have recorded it and/or published the questions.

Those that actually went seem happy.

From kefi website
"Please thank the KEFI team for the opportunity to speak with them in London on 1 & 2 December.
A. Your thanks have been relayed to the KEFI team,

Posted 05 December 2022"

However in winter, run up to Christmas, world cup on two workdays the presentations were likely to be sp****ly attended and those that attended were probably those that generally do not sweat the day to day price.

So instead of reassuring people kefi just created a bit of vacuum that was going to get filled with the usual nonsense.

https://www.zerohedge.com/news/2022-12-04/visualizing-global-copper-production
With these technologies’ rapid and large-scale deployment, copper demand from the energy transition is expected to increase by nearly 600% by 2030. As the transition to renewable energy and electrification speeds up, so will the pressure for more copper mines to come online. Source Post

Yes the SB the usual harry has questions to answer brigade but when they had a chance to actually ask him questions they were nowhere to be seen..
Same old rubbish about harrys Cyprus connection when it was the natural place to set up when kefi was launched with kefis interest in turkey and Venus minerals actually in Cyprus.

https://newbusinessethiopia.com/mining/ethiopia-gold-export-increases-to-672-million/

https://www.investing.com/news/stock-market-news/credit-suisses-investment-bank-draws-interest-from-saudi-crown-prince--wsj-2956970

https:// financialpost.com/pmn/business-pmn/saudi-exchange-launches-market-making-framework-to-boost-liquidity

State-led IPO programs in Saudi Arabia, Abu Dhabi and Dubai have helped equity capital markets in the oil-rich Gulf, in sharp contrast to the United States and Europe, where global banks have been trimming headcount in a deal-making drought.

Gulf issuers have raised about $16 billion through such listings this year, accounting for about half of total IPO proceeds from Europe, the Middle East and Africa, Refinitiv data shows.

Saudi oil giant Aramco’s base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its IPO if it prices at the top of a range announced on Sunday.

Saudi Arabia’s Crown Prince Mohammed bin Salman said in July that Saudi Arabia aimed for its stock exchange to be among the three biggest in the world, part of a broad economic agenda to diversify the economy away from oil.
As of October, Tadawul was the world’s ninth largest exchange by market capitalisation of listed companies at $2.86 trillion, just ahead of the London Stock Exchange, according to Statista.

Thank for the reply NonStop and trekking to the meeting to ask the questions.

Just the one?

Thank you Nonstop he is bound to get asked if he is going for a Saudi listing but maybe a follow up question is whether he is looking for a JV listing with Artar or a just Kefi one. Anything you or anyone else can wheedle out of him about theoretical listing plans would be appreciated though.