Member Info for Robjm66

https://im-mining.com/2022/11/02/91213/
“In Saudi Arabia, JV’s have been a great success in many industries – sometimes you need a local partner to help with local knowledge for marketing and other reasons. I was in business before becoming a Minister and we have several joint ventures that were very fruitful.”
“Are you offering any specific incentives to mineral exploration and mining companies to participate in the new mining and minerals industry in the Kingdom?
Another good question – we have two levels of incentives – first what we call standard off the shelf incentives that are available for certain strategic industries. That applies to financing such as through SIDF – in some cases it will permit 50% or even up to 75% financing

Thanks had a listen sounds good onwards and upwards https://twitter.com/Share_Talk/status/1588138972274110468

kefi 7.50 minutes in.

Yes more details coming out now its more than a ceasefire more like a peace treaty really.

https://www.aljazeera.com/news/2022/11/2/ethiopias-warring-sides-agree-cessation-of-hostilities-au

https://edition.cnn.com/2022/11/02/africa/ethiopia-cessation-hostilities-intl/index.html

https://addisstandard.com/breaking-au-led-ethiopia-peace-talk-facilitators-to-announce-agreement-on-cessation-of-hostilities/

https://www.reuters.com/article/ethiopia-conflict/african-union-parties-in-ethiopia-conflict-have-agreed-to-cease-hostilities-idUSKBN2RS1J4

Olmsey Not going to correct you but harry just highlighting the size of the resources not going to get everything covered in one short video. For example, you have to factor in costs of any resource but also that kefi would as junior partner would have to cover less of them then you would have to cover the SIDF loan option possible offtakes that JQ is very easy to mine then be expanded basically not enough time to cover it and it will be covered in depth by the updating of the resource then going for full mining licence but crunch all the numbers and there is still a disconnect between the current share price and where it should be imho. As for point 2 we can see what it says probably within the next couple of weeks as for Christmas Ethiopia has its own calendar their Christmas day is in January.

Part six Harry Two mines will be in production about the same time JQ starts later but less thing to do. The third project which is Hawiah is already of a scale that exceeds the other two combined, still growing pfs for the end of this year. likely outlook for that is once the other two have started it will go into construction then we are heading for in gold equivalent terms on existing resources combined package of 400k ounces a year by end of 26.
Simples ;-)

Part five Lord Ashbourne so you could be buying for 25 million dollars something that could be producing 200k ounces per year in four years time (1650x200k)

Harry three years

Lord Ashbourne Tell us about JQ

In some respects you know it’s a shame that its overshadowed by TK while perfectly understandable it a shame. As we sit here today our Saudi assets are worth about the same as TK but Saudi is really on fire (not literally Monte1) in terms for the market for mining, government support for mining everyone talking about Saudi mining sector and we happen to have the first two mines to go into production.

Lord Ashbourne you mentioned two horse race (JK and TK) third horse hawiah?

Part four Harry if you stand back from finance talk and just talk like an operator for a moment what's the sensible thing to do …the sensible thing to do is to run the open pit and the ore body that is underneath concurrently and the reason for that is you are giving yourself multiple ore sources you are spreading your over heads over a larger production base and blending higher and lower grade ore.

TK is an high grade open pit and a high grade underground so the two combined are a high grade combination. Operationally sensible thing to do give yourself a longer mine life. The way we are structuring the financing is to bring both of them on. Obviously everyone will want to see the open pit start up check everything is ok then go on the underground but in year three will start to see some ore coming out of the underground as well.

Lord Ashbourne and kefi market cap at the moment is?

Harry 25 odd million dollars

Part three Lord Ashbourne so that takes us to the end of the year then couple years of construction..

Harry already doing a couple of things that are in that development schedule already trying to take the edge of it a little bit

Lord Ashboune then Capex has gone up a little bit not as much as other projects..

Harry was a big rise but crept up over a couple of years but we did refresh it last year so change from last year was relatively small

Lord Ashbounre tell us what TK looks like when it is in production..

Part two financings, closings, the actual specifics of the agreement, the detail of them. We are focusing on doing financing at subsidiary level with regional players, regional banks regional investors and not to rely on the stockmarket, shareholders are only putting up a fraction of the capital involved but they do own the company and we are looking to unveiling it as it comes together, they have long heard about these projects but need to see the fine print to understand the detail.

So In November the banking is being updated and re crafted now it all back on again. Step one is tie down commit and announce the refreshed banking terms in detail. That then sets the platform for the Equity deals to slot in, there is board approvals around them but they need to see the detail around the banking before they can lock in. November lay out those terms sheets, final details with full wrap up closing by the end of the year with launch by the end of the year. Then warrents will come in to play and be exercised.

Let me help you out ;) part one
hxxps://www.edisongroup.com/edison-tv/kefi-executive-interview/

Edison’s head of mining research, Lord Ashbourne…Third quarter results out… thank you for joining us…key feature that stood out to me is tuli kapi and galloping towards project launch is that a fair assessment?

Harry fair enough essentially, we are launching TK over the next few months but also…have another project launching not to far behind that. Suadi project will probably be in construction six months behind that (JQ) had hold ups over the years in both markets but peddle to the mettle attuite today we are cracking go on with both of them.

Lord Ashbourne So in terms of timelines catalysts what are the next few things that investors should be expecting to see?

"This morning had third quarter results out..."Obviously, the interview was pre webinar and as far as I can see its consistent with what was said then and in recent RNss.

https://www.mining-journal.com/partners/partner-content/1442461/saudi-to-lead-mining-super-region a couple of extract but whole article worth a read.
"And the state has put its money where its mouth is, reportedly committing to $3.7 billion worth of direct and supporting initiatives for mining."
"there is a five-year tax holiday to allow front-loaded development investment to be recouped. Other fiscal incentives include co-funding up to 75% of new investments."
"Saudi Arabia is targeting a 300% increase in mining's GDP contribution to $64 billion by 2030 based on this foundation of minerals. There are roughly $321 billion of phosphates, $229 billion of gold, $222 billion of copper, and $138 billion of zinc for the taking."

So many goodies he did not have time to mention them all joking apart the webinar are usually around the hour mark max, or slightly under this was over an hour and ten minutes the majority of it questions and answers. In for a very busy time anyway.

Emailed you, think you kind of got the wrong end of the stick. Doubt any deramper would take the time to point out the areas the company has gained that's assuming they even knew the company gained them. The suggestion for the website is that the company is not really advertising the very promising areas it does have.

Joking apart the worry now will be opposition will just try to outbid the JV on new areas by having deeper pockets. On the plus side this might accelerate a listing to access new capital and the JV already managed to get an exploration portfolio together before things got totally cutthroat.

The licence areas kefi did get over the last twelve months Al Godeyer, Al Godeyer East, Jibal Hillit, Qunnah, Abu Salal South, Jadib Al Qahtanah and the three JQ licence areas guess you cannot get a coconut every time.

Plus up against the Saudi national miner and Barrick in the final round who immediately promised to chuck a lorry load of money at it and fund "the development of the local technical college".

Maybe kefi should list the areas it has got on its website on the Saudi page who knows they might be worth something!

Kefi has lost out to the other consortium. https://www.argaam.com/en/article/articledetail/id/1597995
Saudi Arabia's Ministry of Industry and Mineral Resources announced that a consortium consisting of Saudi Arabian Mining Co. (Maaden) and Barrick Gold T7 Ltd won Umm Al-Damar exploration license...

Look at further reports and you see it was a graduation for fighters for a local rebel group and nowhere near TK. Any civilians were either there to cheer their relatives on or were used as human shields by the rebel group who would have known it would be an attractive target for a drone strike.

Be into November next week and Harry gave the 15th of November as a key date. Very unusual to be so specific. Would expect a decision about Umm Ad Damar either November or December as well. Think is has suited kefi to fly under the radar and let Artar do most of the running for it but it is now a two-horse race with another consortium. Assuming kefi do not get it, it will attract attention the multiple areas kefi already has in Saudi and make it easier to get those areas of the ground starting with JQ and further down the track Hawiah. Then there are all the new exploration areas that have been awarded there to kefi.