Member Info for Robjm66

Looks like neither side are claiming large territorial gains situation will probably take a day or two to become clearer. Rebels raided a world food program warehouse in Tigray for fuel which suggests they do not have the supplies to indefinitely fight to me. I am watching the situation anyway of course.

https://www.youtube.com/watch?v=mPOrowkO3xc kefi webinar

Webinar said late October. Hopefully see price move before that and would expect some good news from Saudi soonish over awarding of JQ license areas.

Sorry Urai5 had to summarize a bit as only a one finger typist harry also said both Kefi and Artar have the right to move any licence applied for into the JV. So if Artar got the licence it would be held by the JV like the other areas in the KSA. Artar was chosen as it would be a heavier hitter (plus it’s a Suadi company) which makes sense when you see the competition. The JV went after the area in July when the first round was held. One reason I doubt kefi will get it as it has received so many licence areas between then and now. Hence the company not trumpeting the application maybe, though it should.

Part eight Umm AD Damar auction? Agree Artar would use its balance sheet JV agreement firm Aratr not going its own way.(Kefi should be shouting their tie up with Artar over applying for this license from the rooftops and comparing it to the areas it already has this is the kind of thing that is exasperating about harry and kefi).

Share consolidation? Not thinking about it.

Explain financial close? Closing check list long but not abnormal kefi just highlight anything material..all understand how it works..

What is the price warrants institutions will sell into market? Must be exercised within set time of exercise trigger.(covered that here several times warrents cannot be sat on have to be exercised that’s the whole idea to provide funds).

Further questions will be looked at.

Thanks to everyone. End.

Harry really suffers in comparison to other presenters though would have been better to actually see them.
Everything seems on track interesting about Umm Ad Damar.

Part seven Shareprice? High risk high returns..tolerance for risk..frontier markets first movers sympathize with shareholders.

Shares decimated over recent years? Kefi will grow company focused on projects market has to be left to correct itself.(That’s the trouble with harry really someone should have realisied that the a company has to be proactive about its shareprice and not leave it to market forces)

Bonuses? Kefi control spending of over 500 million dollars bonuses directors taking shares rather than cash..(Sigh)

Constellis? Global firm comport to consortium to give third party confirmation.(third party confirmation of security)

Rebel group an issue on transport routes? Route seem clear but changeable however routes monitored. Ultimately camp has been safe and quiet. Talking to freight forwarding companies info shared between embassies and kefi.

Map of exploration areas? Kefi intellectual property..ongoing process..

Part six Umbrella agreement needed? Consortium idea to show commitment to TK and the project..some conditions added by government..

TK Project mishandled to slow? Company going as fast as it can (bit of harry waffle here nothing really new in reply)

Government spent about half of its share..power…equity funds will flow after agreement? (the Ethiopians are opening there wallets and they have been open for a while)

Placing before october? No.(No)

JQ mining licence if we got it today how quickly would we need to fund it? Brian Hosking not simple need to clear exploration licence first then camp on site..ministry mining licence only thing really outstanding ESG part.(bit of a how long is a piece of string question kefi will not be able to apply for a mine then start building it (and needing the money to do so but company not starting from scratch).

Institutional holdings? They split the holding between various account to keep it under notification threshold. (mystery solved)

Part five Questions next steps?

Sign definitive agreement? End of October then funds will flow local company investing into kefi to repatriate profits. Instructional investors..2.4 warrents… (important bit here is these groups will be able to get repatriate profits)

Divest part of Ethiopia? To early to consider.(think thats a no obvously kefi need to consonantly show they are committed to Ethiopia at this stage).

TK what is needed to get exploration licence back? Get TK going first..harry bit waffly here started takling about JQ as well)

TKGM will be reimbursed? Kefi been financing tk to get the project up and running kefi looking to get use its share as part of kefi share of Tk (money spent in the past being recognised and considered as part of Kefi equity contribution to TK which will should mean less money needed to be raised if any to cover kefis share and it overall share of TK).

Part four Harry three projects…live strides..both governments really supporting…frontier market..synergy of several projects..mid cap producer. Resource base grown.. market cap low in comparison as we de risk..

Vast amount of capital raised by project finance rather than from shareholders. Kefi managing the consortium as well top priority to close TK finance…JQ and Hawiah should be more straightforward Artar has the money and country cashed up..will be financed from inside KSA Ethiopia outside.

Three project slide. TK finance key closing steps. Kefi now ready for going forward now. August…Contractors received costs and terms.
September final terms and agreements with syndicate and finalize documentation.

Last slide photo of speakers

Part three Hawiah more complex beast but much bigger beast getting bigger. Now commissioned PFS which should be delivered December this year. Not in a rush for Hawiah as want to get JQ going first. Will have two producing mines. (good need JQ up first to cover costs)

200000 gold equivalent ounces per year with both.

No end of the story wants another two projects from Exploration team further along. Artar fully committed they have the intention to grow fully sized mining company.

(Brain Hosking miles better speaker than Harry though had an easier job explaining the KSA as it is more straightforward.)

Part two

Brian Hosking from Saudi. “this is where the future of kefi is” first foot advantage, biggest exploration team, Saudi team growing fast. Two gold projects and exploration portfolio. JQ three years of exploration paused after rules changed Artar ground held by government department took years to get through red tape royal court (court costs maybe explain some paast costs) now backs access. 1300 originally gold price now 1700 Dfs remains on track (gets missed by a lot of people that projects now more viable).

As regard licensing situation new mining act slowe progress but agreed that kefi would first get exploration license then mining licence. All fully supported by ministry vice minister fully backs JQ and is a priority for him (big point that the vice mining minister is backing this). Huge potential 270 Sq kilometre of exploration straight forward gold plant at JQ.

Part one https://www.kefi-goldandcopper.com/files/presentations/kefi-presentation-for-webinar-on-24aug22a.pdf

My comments in brackets.

Photo of TK recent history lesson on Ethiopia recent Umbrella agreement.
Directory of executives slide. Senior Management slide.

(Eddy Solbrandt) June meeting of TK meeting in cape town all stakeholders present including mining minister. Reaffirmed support everyone in the room together. Few weeks latter people signed agreement.

Prime ministry got behind it document now in final stage of review everyone supports the project (prime ministry behind it if he was not project would have not gotten this far) . Cost needed to be endorsed and approved 80 million spent now confirmed part of Equity contribution from kefi. Going through it again for extra 5 million.

Project launch.. kefi working with security experts…Regularly review security. Still some difficult pockets with access.Secrity Constantly being reviewed and updated.

Now Kefi received updated numbers from contractors numbers to be finalized in coming weeks. Team and project moving ahead.

Resettlement being constantly planed and reviewed including workshops with stake holders..

No placing did you listen to webinar that was one of the questions.

Thanks P79u was actually thinking he other day about a Kefi or JV Saudi listing think now it might make sense after the Amak Ipo was such a success and could attract a whole new shareholder base from Saudi that wants to get into it growing mining sector. Saudi is one of the few bright spots in the world economy as well and the Artar name would attract a lot of interest.
https://www.imf.org/en/News/Articles/2022/08/09/CF-Saudi-Arabia-to-grow-at-fastest-pace
https://www.arabnews.com/node/2039116/business-economy

https://www.arabnews.com/node/2147881/business-economy

Last Wednesday, the ministry revealed that Saudi Maaden, AMAK and Vedanta were among 13 qualified bidders in the pre-qualification stage for a license at Umm Ad Damar mining site....It will also hold a workshop this month for qualified bidders to clarify more details about the upcoming stages.

The Kingdom’s mining industry has already attracted a number of foreign investors, most notably global giants Barrick Gold and Alcoa....

Long shot that Artar get the Umm Ad Damar licence as up against a lot of competition but i would be nice if kefi explained their involvement maybe in the webinar.

Yes got a lot to get done in September.
September:
• resolve final terms and pricing with Lead Contractors
• agree final structure with Lead Financiers TDB&AFC
• final structure approved by Boards of Other Financiers and by Government
• all documentation finalized for execution

Its the same time for full project launch as before good news that the schedule has not slipped.

https://www.kefi-minerals.com/projects/saudi-arabia/hawiah

https://www.kefi-minerals.com/files/announcements/kefi-update-to-hawiah-mre-06jan22.pdf

https://www.kefi-goldandcopper.com/files/reports/kefi-annual-report-2021-website.pdf page 24
https://www.kefi-goldandcopper.com/files/announcements/kefi-saudi-development-update-9may22.pdf May assays

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

TK slide 9 pre kefi

https://www.kefi-minerals.com/files/files/lycopodium-tulu-kapi-2017-dfs-update-study-may17.pdf

Update 2017

https://www.kefi-goldandcopper.com/files/presentations/kefi-investor-presentation-4april22a.pdf

Slide 14 and 15

Well sent an email to kefi info to confirm that they would be involved as normal with it but no reply as yet.

While it would be nice to get it is a long shot as kefi/Artar would be one of 13 bidders. The significance is that assuming the JV is involved it has reached the second round and is being considered along with huge companies like Ma`aden, Barrick, Vedanta, the premier league of mining companies. Would be good omen both for getting JQ soon and financing it with ease.