Https://www.kefi-goldandcopper.com/files/announcements/kefi-tulu-kapi-project-update-13feb24.pdf there you go.
HtTps://www.proactiveinvestors.co.uk/companies/news/1040815/kefi-gold-says-funding-syndicate-to-submit-proposals-for-approval-this-month-1040815.html
"The Ethiopian Federal Government has also reaffirmed its equity capital investment has been fully documented, committed and already partly invested, according to the statement."
That's they way I read it as well no money from parent company for the project needed at this time..just "repayable in cash or equity at KEFI's election as from year 4 at then market prices" obviously kefi will pay it out of cash from production unless kefi share price is a very large multiple of what it is now four years down the track by then should have at least two mines on the go.
From Estseon kefi Advfn thread
There remains the $20m special finance but it sounds like some kind of royalty deal. It won't rank as equity.
The Federal and Local Governments will be the JV partners providing the increased amount of $40m at TKGM level taking c30%.
The equity risk notes ($70m) are repayable in cash or, at Kefi's option, in Kefi shares issued at market value at the time of redemption of the notes from year 4 (presumably at least 3 years after commencement of production but that needs to be clarified). The interesting twist on this part of the finance is that the finance will be provided in local currency but repaid in 'hard currency'. That might have required a bit of negotiation with the Central Bank.
The original senior debt offer from the banks was $110m (see RNS 19/06/2020 for instance). They are now providing $190m.
Before taking account of the massive amount of our cash invested in this project, only $210m of the $320m funding will be in 'hard currency'. Federal government will be providing infrastructure including the power link to the hydroelectric dam and Local government, I suspect, will be principally funding the relocation of families.
/72963/tom-winnifrith-bearcast-buying-more-shares-today-in-a-gold-miner-tempted-to-lump-the-lot-on-this-one
"I look at Centamin (CEY), Kefi Gold & Copper (KEFI), Bluebird Merchant Ventures (BMV), Ariana (AAU) and Amaroq (AMRQ)"
Https://www.miningmx.com/top-story/55871-allieds-marrone-targets-consolidation-of-african-gold-sector/
"Addressing the Mining Indaba being held in Cape Town last week Marrone laid out a highly ambitious strategy to grow Allied Gold’s operations in Africa from its present three mines in Mali, Cote d’Ivoire and Ethiopia.
He also laid out his intention to consolidate a number of the continent’s small gold producers into an African “champion” producing up to two million ounces of gold annually.
Turning to the “broader landscape” of African mining Marrone said he believed the sector was “ripe for consolidation” because of the number of junior and intermediate companies.
“Why do we have so many single asset companies producing between 100,000 oz and 200,000 oz of gold annually? Why should this continent not have a champion producing a couple of million ounces a year?” he asked."
HtTps://www.youtube.com/watch?v=FO8oemodXZM&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1&t=2s (live from the vault)
12.02 to 15.13 (roughly) average 14 tons of bullion outflow per day!
If this is true cannot see them being able to hold the 2000 to 2050 range for long especially when you factor in other central bank buying and that China is the biggest gold producer and has an export ban on gold and obviously Russia will try to hold onto most or all of its gold production.
Only play I can see is them letting gold prices up in steps otherwise they will be totally drained of gold. Even that has its drawbacks as obviously if people see gold steadily going up they will become more interested in investing in gold especially if there is a slump sometime this year in other sectors.
Likely that they will be able to just let gold step up for while then the price will just get away from them and go through the roof.
Were doomed, doomed i tell ya https://www.youtube.com/watch?v=WNNRL_IB9m0
"Detailed definitive agreements for the project financing are in near-final form with contractors, equity investors and government agencies. Those for the lenders have also been drafted, but await credit committee approval by the co-lender before finalisation. " https://www.kefi-goldandcopper.com/files/announcements/kefi-operational-update-q4-23-final.pdf of course might be a bit of a shame if the bears get caught out but think I can live with that.
Looked at page 11 of 2014 annual report map of mine site it shows mine camp and admin in the SSE corner the furthest away from Guji (which is largely to northwest or west). Mine camp on the map is next to where the power comes in and air strip is now.
htTps://www.kefi-goldandcopper.com/files/reports/kefi_minerals_annual_report_2014.pdf
Which is the same as htTps://www.kefi-minerals.com/expo-presentation/addis-adaba
So mine camp is shown on both 2014 and this years camp as South east of planned open pit (which is the TK hill) not on the hill itself.
obviously if you are going to dig the area up you are going to clear the area. So actually looks like progress.