Member Info for Robjm66

Suggest people ask questions through the webinar.
Quarterly Webinar
The Company's Executive Chairman, Harry Anagnostaras-Adams, will be hosting the Company's quarterly shareholder webinar at 2pm BST on Monday 21 June 2021. The webinar can be accessed via the link below:
https://webcasting.brrmedia.co.uk/broadcast/60c9e57649ccf90ed92104ba
Shareholders are encouraged to submit questions by emailing: questions@brrmedia.co.uk
The webinar will subsequently be available on the Company's website at:
http://www.kefi-minerals.com/news/webcasts”

From five free share tips

https://fivefreesharetips.com/content.php?id=957

No he has not changed his mind... we continue to consider that the shares should zoom towards 4p on funding being secured for Tulu Kapi, whilst there looks to be even greater future potential from Saudi Arabia. As such, although clear risks currently remain to realise those - though not as significant as some would have you believe, as per HERE - at a current below 2p share price still a risk / reward buy.

Article on share prophets addressing article (no I am not signed up) but harry and TW still positive.

Think it is a genuine article but maybe somethings were lost in translation. Also that it was more aimed at the domestic audience in advance of the election hence no English version where it would not go down so well with international readership.

Then there is the factor of all Ethiopians maybe not having a common position you could have one or two Ethiopians in the mining ministry or elsewhere briefing against the company at the same time as others probably doing their best to push things forward.

I would not be surprised either if different potential or actual Ethiopian members of the consortium are favoured by different people in Ethiopia or changing political priorities leading to continual shuffling of the deck over which Ethiopian groups to include in a final deal.

Probably harry and the company know most of this but cannot spell it out as would be counter productive but seems they are still confident.

Think advert is from November last year unless they have re advertised the position.

Well harry said they had several offers Ben. There are other ways to do it as well could do something like the award or the option to buy Kefi shares further down the track a bit like what they have done in the finance deal. In a way Kefi are using Hawiah and the Saudi prospects and what they will be like further along to leverage a better deal now hence the increase to three rigs going 24/7.

It’s June 23, 2013 Ethiopian calendar so Kefi have an extra week after that plus “unless the company that received the warning has not taken remedial action within the stipulated time frame or has given the licensee a valid reason for the incident” I am not harry fan but he and the company are taking remedial and every other action they can to get TK over the line.

Sorry Matt6 I should have remembered earlier the Ethiopian calendar is different to ours.

https://www.metaappz.com/Ethiopian_Date_Converter/Default.aspx

....citing security concerns in the area where the gold reserves are located, as well as the political situation in Ethiopia.

However, in a few months, he announced that he would enter the market after a few months to resolve the issue. According to company information, the company has convened a general meeting.

The Ministry of Mines, in a recent warning to the company, said the company would take action if it did not start production by June 23 with project finance.

Experts in the sector say the mining sector needs to be monitored closely, and caution should be exercised, as the company may sell its license to another company in Ethiopia only by promoting its status and gold reserves.

He said Ethiopia's Ministry of Mines and Petroleum should continue its legal action and control, adding that foreign companies have not been able to extract their gold resources and sell them to other companies by obtaining mining licenses and adding value to their assets.

He also recommended that Ethiopian mining companies, which promote such a system, cooperate by selling information or obtaining licenses in advance, and recommended that these companies be investigated and placed on the blacklist.

Tulu Kapi's certified gold reserves are 1.7 million ounces, according to Kefi Mineral. It is expected to.

Attempts to include the company's response in the warning letter failed.

The Company has been positioned to bring in c. $320 million of funds to fully develop Tulu Kapi and to finance exploration in Ethiopia and Saudi Arabia, with c. $309 million already having been conditionally arranged

Looks a higher amount as said in Late April “Anticipated approvals by syndicate of the c. $300M project financing of TKGM:”

Now project 320 million with only 11 million to find will not know exact ownership percentages till that is found but it only a small amount.

, the Company has been positioned to, as soon as possible after the Annual General Meeting, bring in c. $320 million of funds to fully develop Tulu Kapi and to finance exploration in Ethiopia and Saudi Arabia. The plan would leave KEFI with project ownership levels as follows:
• 75-80% of the Ethiopian mining development and production operation, via the shareholding in TKGM
• 100% of the Ethiopian exploration projects, via the shareholding in KME

Q and A page Kefi website

Questions regarding Hawiah activities and KEFI's Annual Report
Q: What is happening on the ground in Hawiah?
A: We are expanding and upgrading the maiden resource estimate published nine months ago. Since the end of Ramadan, we switched from 2 rigs on day shift to 3 rigs drilling 24/7.
Q: How much has been spent historically at Tulu Kapi?
A: About $70 million, some funded by KEFI and some by our predecessors. All of it recognised as historical spending on the project for regulatory purposes in Ethiopia. KEFI’s accounts show a lot less because of the project acquisition and expensing accounting policies as set out in the Annual Report.
Q: How much of the indicative finance plan summarised in the Finance Director's Report of the Annual report is from local investors?
A: About $70 million, $45 million from local companies advancing birr-denominated subordinated loans to KEFI Minerals Ethiopia, $25 million from the Government and other for birr-denominated share subscriptions into TKGM.
Q: Please elaborate on the pressure on the company from the Ministry in Ethiopia, when did the Government issue a warning letter and what is the upshot?
A: We submitted the final development and production plan in early May, there was some media commentary attributed to a departmental officer in mid-May and more again in June. We received a warning letter to push us along at the end of May to which we have responded both formally and informally. The plan remains that which we submitted formally in early May (and which is summarised in the Annual Report) and we are proceeding as fast as possible.
Posted 10 June 2021

“Hardly stretch targets if HAA and the bulls here are so confident. 3p then 4p then 5p....”

Ok I will play, guessing the minimum the share price will hit for five consecutive trading days after each target is hit I repeat these are my minimum guesstimates.

“Arranging a long term project finance facility and...receipt by the Company of at least the first US$20 million of project funding... post this 5 pence easily.

“Completion of the Project within the Project budget approved by the senior lenders.”
Post this if hit 8 pence, though this might be the hardest target to hit due to inflation spike.

Upon the sale and physical delivery of 35,000 ounces of gold equivalent.
10 pence minimum though could be a lot higher depending on progress in Saudi with Hawiah, Jibal Qutman back ,new areas in both countries and so on..

Your turn Fevertreeman obviously you think Harry will hit targets or the whole things a non issue so what minimum do you think the shareprice will be over five trading days post these targets being hit?

https://www.nasdaq.com/articles/endeavour-mining-sets-dividend-policy-ahead-of-london-listing-2021-06-07
https://corica.com/projects/ three Endeavour mines. New mining contractor a substantial operation.

Sorry its a Director talk interview should pop up on a google Kefi search.

https://www.***************************/kefi-gold-and-copper-should-be-a-300m-company-interview/412998543

Not can kicked to the end of the year...”By 30 June 2021, the following needs to be carried out so as to proceed to earliest project finance settlement:

o Final construction procurement pricing confirmed;
o Detailed documentation to be approved by the relevant Government
agencies, including the Ministry of Mines and the National
Bank of Ethiopia, so that execution may proceed by all syndicate
parties;
o Finalised position for local equity investors and off-taker”

Arranging a long term project finance facility for the Tulu Kapi Project and, not
later than 31 December 2021, receipt by the Company of at least the first US$20 million of project funding.

The most important steps will have to be done over this month the first 20 million is the first draw down over the whole construction phase of the mine.

Just to cheer you up Fevertreeman
https://www.youtube.com/watch?v=ytY9_xy7qgY

Just checking your posts are not tongue in cheek? Look forward to the articles on the Mail Ft and evening standard.

(A not very concerned shareholder)

“I will only be convinced IF Locals invests in this as otherwise it makes one sense for Kefi wants own 75-80% of EG's gold !!!” Already have local and national government invested and providing infrastructure. The local investors are split between local subsidiary’s of bigger international companies and smaller groups that historically have slowed progress down. With local subsidiaries it a way of reinvesting local profits that would be hard to directly repatriate.

Higher figure suggest that kefi do not have slow down to cater for groups like ANS anymore. Can only laugh at your suggestion that kefi would not want 75% to 80% of the revenue from TK rather than 65% I leave it to someone else for now to work out the dosh from the increased revenue.

Timing suggests that the warning came after Kefi statement think it dubious that there was a series of warnings. Warning more likely due to to a small delay due “recent” replacement of mining contractor pushing news to post election.

There you go I am capable of answering over “negatives”how about the usual suspects commenting over Kefi increased share of the TK project or a actual positive?

Actually a long term shareholder more than twice as long as Smellyben so I do actually think before i post and do a lot of research so maybe you should follow you own advice. The point is if there was a team of people being paid to post there would be a lot more of them and the would not swamped by just a handful of negative posters at times deluging the board.