Member Info for Robjm66

Thanks Urai5 things are looking good both on Saudi and Ethiopian side. You are right about TK and JQ was originally designed around a much lower gold price as well.

Will have days when everything sells off but can see gold bouncing back anyway at some point as a safe haven asset.

By the way can you thrash us at the football Monday so we can get a decent manager as at this rate I will have to just support the women's team (joking not joking).

https://www.thereporterethiopia.com/26641/
Read the whole article.
TDB and AFC to finance the USD 300 mln project..
After the discussions over the week, the stakeholders agreed to the implementation of the first phase of the community resettlement...
They reached an agreement to launch the project in the next few months...
Lately, KEFI has deliberated with officials of the Trade and Development Bank (TDB) and Africa Finance Corporation (AFC), who have been in Ethiopia over the week...
“TDB and AFC are our major financiers. We will announce how much they will finance soon, but they remain the principal financiers.
“It is fortunate that the community at Tulu Kapi is very supportive of the project.

Thanks for the link Tintin.

https://twitter.com/kefiminerals/status/1572898564304695296

Pictures of the meeting.

“has successfully concluded a three-day workshop to enable launch of the Company's Tulu Kapi Gold Project.
During the three-day workshop..agreed on action plans, including the implementation of the first phase of the community resettlement, increasing employment of local personnel for site preparations, and upgrading of security protection as people movement increases.
Local stakeholders in attendance included..”well basically half the country from sound of it.
“The workshop followed recent meetings between KEFI and the Ministry of Mines, Ministry of Finance and the office of the Prime Minster”
“The Tulu Kapi Gold Project will be a first for many decades ...will be achieved by collaborative dedication”
TK is going to get over the line as so many people are behind it and pushing.

https://gulfnews.com/world/gulf/saudi/saudi-gold-find-a-huge-boost-to-kingdoms-investment-efforts-1.90735188 extract
Last week, Saudi Arabia announced the discovery of new sites for gold and copper ore deposits in the Madinah region in the western part of the kingdom.
Thirteen Saudi and foreign companies are vying within conglomerates, to win a licence for the Umm Al Damar mining site located in Madinah, according to the Saudi-owned newspaper Asharq Al Awsat.
Umm Al Damar, stretching on an area of over 40 square kilometres, boasts copper, zinc, gold and silver deposits.
Thirteen Saudi and foreign companies are vying within conglomerates, to win a licence for the Umm Al Damar mining site located in Madinah, according to the Saudi-owned newspaper Asharq Al Awsat.

Part two JQ Financing already being worked on with financier triggered development middle of next year.TK things being triggered in October. Harry actually sitting in large meeting room where thirty employees of multitude of government agency were sitting and more sitting in zonal office in Gimbi 50 60 government representatives going over details of launch of TK. Sticking to plan to launch TK this year commencing with various steps that are being resolved now, in full construction by end of the year with build up steps between now and then JQ six months behind TK.
“15 years to be an overnight success”

Harry...Jibal Qutman unblocked recently, now allowed back onto site..do need the last license before pushing the development button.
Indicative of proactive attitude towards kefi and mining sector.
Red tape in Saudi? Now KSA cares about mineral sector and its high priority. Attention turning to the mineral sector.JQ south and JQ north substantial area ..whats the nest step? Central area is the area that is ready for development doing preparatory work all thre areas part of same structure “string of pearls”exploratin teams already formed for north and south. DFS 500000 ounces over a ten year period..now economic to take more out of ore body using same process.

Would expect more to happen in October then this month but would hope for some progress this month for instance company was looking at contractor estimates.

Followed the other upticks in conflict this one going to be more localized and more about can the rebels cling onto power in their region than dislodging the government.

Government side realised they are on top militarily and has over stretched the Tigray side by sending troops through Eritrea.
Rebels stuffed themselves by kicking of this recent round then too late realised it was the wrong move.
Would expect the conflict to more and more be contained in Tigray itself.

https://www.zawya.com/en/markets/equities/saudi-arabian-drilling-company-to-sell-30-stake-in-ipo-ympgca1p

http://www.gulfprojects.me/DetailsTA/400842/Saudi-economy-set-to-grow-at-highest-rate-in-10-years-SP

https://www.saudigazette.com.sa/article/625038/SAUDI-ARABIA/SGS-announces-new-discovery-of-gold-and-copper-ore-in-Madinah
..in discovering gold ore within the boundaries of Aba Al-Raha, the shield of Umm Al-Barrak Hejaz, in the Madinah region..
Umm Al-Damar mining site located in the Madinah region.
The prequalified bidders have to submit their proposals by October 2022. The site has an expected investment size of SR2 billion and is expected to generate around 4,000 jobs, according to the project brochure available on the ministry’s mining portal. (Roughly 4 Saudi dollars to 1 usd, a decision expected in November about the area)
https://www.zawya.com/en/projects/mining/saudi-arabia-announces-discovery-of-new-gold-copper-sites-in-madinah-u3so92pu

KEFI’s targeted 70% beneficial interest in Tulu Kapi would represent a US$70M annual interest in the underlying annual net operating cash flow of US$100M, assuming a gold price of US$1,591/oz (would hope the gold priceis higher than that).

If you are trying to compare present market cap to the cost of the TK mine and what share everyone is contributing it is a bit more involved.

https://www.kefi-goldandcopper.com/files/presentations/kefi-uk-investor-show-presentation-21may_22.pdf slide 16

Well i am a bit biased in that i go int o kefi over Saudi potential but the potential is so much greater there the problems so much smaller and the company can go a lot faster there.

Not especially harry fan but when last piece of JQ licence area puzzle is there a side effect is going to be a boost to his credibility to deliver what he says he can deliver.

Its great news at the worst time really with people watching events closer to home. The main reason though the Sp did not shoot up is kefi still need the remaining area but that is expected shortly “within weeks.”
Then area of over 270Km2 is to be granted, covering the original Jibal Qutman Exploration Licence, plus a significant land package along strike to the north and south..so JQ plus. Even though waiting for final area kefi now has a portfolio of areas in a country that just sold the right to explore in one area recently for $68 million that’s how silly the present market cap of kefi is.

https://mereja.com/forum/viewtopic.php?t=303876&p=1325664
https://twitter.com/TigrayEAO/status/1568988898532925440/photo/1
The shift here is from TPLFs previous preconditions that no peace talks till settlement of western Tigray and that the AU would not lead any peace talks. Ethiopian side did not really want any preconditions.
Has to be a good chance that the Ethiopian government side will confirm as doubt the Tigray side would shift it position unless there was some kind of agreement.

Breaking News: Tigray regional & Ethiopia federal govts agree to stop war?

https://www.youtube.com/watch?v=fkd3mf7KYXE

Not confirmed yet but generally Sajid Nadeem usually has the best source of information and the best analysis. Needs confirmation from Ethiopian government of course but even if it is a bit early, I still expect a ceasefire to be inevitable.

Cross fingers for confirmation from both sides during the next few hours.

Biker intentional coverage is often late and inaccurate bbc and channel four cnn are especially bad.
https://www.thenationalnews.com/world/africa/2022/09/09/rebels-call-for-conditional-ceasefire-in-ethiopias-tigray/
The ceasefire negotiations have been going on for a few days under the radar reportedly in Djibouti not long enough for a ceasefire to be agreed by both sides imminently, but one is inevitable.
Sooner the better, but for kefis consortium they just need to know the conflict will be contained which it is, and it will come to an end which it will. If the various analyst and security specialists involved in the kefi TK deal are any good, they will know all this.