Member Info for Robjm66

In respect of capital management, the obvious challenge for any public-listed junior explorer is how to discover and develop such capital-intensive mining projects when the investment appetite of the public capital markets is particularly cyclical. As a consequence, KEFI focuses mainly on funding at the project levels. In both Ethiopia and Saudi Arabia, our projects' predecessors and partners have provided over 60% of project funding to date. And as we are demonstrating with Tulu Kapi, going forward the development funding will remain largely at project levels.

From an ownership dilution viewpoint, this plan may best be summarised as an indicative doubling in underlying asset values over the past 12 months from £153 million to £339 million ($185 million to $465 million)

Paid pumpers lol if that was the case positive posts would not being swamped by negative ones.

Do not have to wait long Robbo 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

Everything in the RNS suggests the company thinks these will be met.

Ownership Value and Ownership Dilution
Upon execution of the Tulu Kapi project finance plan, KEFI will replenish its working capital, launch full development at Tulu Kapi and also underpin at least the next 12 months of planned exploration in Ethiopia and Saudi Arabia.

From an ownership dilution perspective, successful completion of the finance plan will necessarily also increase issued capital but ownership dilution will be minimised vis a vis the quantum of development capital raised because it is intended that the share issues by KEFI for a subset of these amounts will largely be at prices two and three years from project finance completion.

People will move in tranches from areas Kefi will need for the mine to a new area. The houses will use prefabricated components and can be extended in the future by occupants, already have a new school.

https://www.kefi-minerals.com/files/files/lycopodium-tulu-kapi-2017-dfs-update-study-may17.pdf Slide 117 page 107

From Kefi Q&A;

Q. Why did you replace Ausdrill?

A: Ausdrill has gone through an organizational overhaul. Whilst still a great company and good friends, it was no longer the most appropriate contractor for what we had always required - a conventional schedule of rates arrangement whereby payments by TKGM for the mining fleet and its operational personnel are tied to operational performance.

Q. How long will it take Corica to get up to speed?

A: Corica are already ahead of what Ausdrill was in readiness. We ran this tender over the past nine months and wrapped it up now as we head into finance closing.

Q. We cannot learn about Corica as easily as we could about Ausdrill. Can you help shed light on them?

A: Corica is a private company but well known to the gold miners of Africa, operating on about 15 sites for many leading gold producers.

Posted 06 June 2021

“Smelly B has an investor's viewpoint” yes an investor in a completely different share. Wonder if all the posts from non shareholders here were added up they would outnumber posts from actual shareholders by a distance.

“Just wow - sold lots of Kefi two days ago and bought more in here - could be greatest decision ever !!” (EUA)

Think there is little chance of some posters cracking a smile let alone a laugh in any circumstances here.

Kefi could be posting gold bars through peoples letter boxes and people would complain it damaged the unwelcome mat when it landed :-)

Kefi just reassured the government that things are still on track having a new contractor might have pushed things back a week or two not a biggy in itself but government would have wanted as much good news as possible pre election. Actually find it reassuring as it gives an explanation for a politician or civil servant to get annoyed with the company.

“Responses are up to date in respect of the senior lenders' due diligence requirements for credit approval” senior lenders still on board not asking for a new round of diligence so other general financial measures included in the package have not changed.

Negatives

Smellyben still here posting even though his predictions of imminent doom shown to be rubbish.

New mining contractor possibly slowed things down by a week or two

Positives

New mining contractor better deal.

“for full Project launch after the Company's Annual General Meeting, which is expected to be convened in due course for 30 June 2021. The Company remains on track to commence Project commissioning in late 2022 and to reach full production by mid-2023, in line with previous guidance.”

“updated detailed Project development and production plan. Whilst final approval of this updated plan is awaited as a condition precedent of the Project financing, TKGM has exchanged formal confirmations with the licencing authority regarding TKGM's commitment to honour the already outlined Project timetable;” would have to re jig it due to new mining contractor but commitment to honour timetable suggest any delay was minimal.

“procurement any time from July 2021;” suggests deal done after AGM”

“early works programme with principal process design and construction contractor, Lycopodium Limited, has commenced this month”

“Responses are up to date in respect of the senior lenders' due diligence requirements for credit approval. The timetable for Project finance remains for execution of detailed documentation as soon as possible after the KEFI AGM on 30 June 2021,”

“· 150 local personnel have been employed to prepare new host lands. TKGM have commenced compensation procedures”

“starter homes have been fabricated and are being delivered to site for assembly.”

eshaitan great spot

Think We can tell your angry by the number of posts within an hour lucky you are not a shareholder anymore or nobody would be able to get a word in.

Think the most likely explanation for the warning mess was a politician wanting good news before the next election and wanting to look tough on international miners to his domestic audience. On a practical level it was a totally dumb move to shake things up when the company was in the last stages of putting the consortium together.

That’s not to say the Ethiopians like everyone else are not annoyed at how long things are taking as they had to put up with Noventa making a hash of things before Kefi. As for locals the company did or have interest from several Ethiopian entities some of the recent interest might be down to these companies not being able to repatriate their profits to their foreign parent company.

As for auctions think people will be looking to see what happens with Kefi good luck anyway to a fellow DR who fan (apart from the present DR who!).

Previous RNS “endorse KEFI's historical Project expenditure” think Kefi would have saved the receipts to get this commitment. Looking back https://www.proactiveinvestors.co.uk/companies/news/176978/kefi-minerals-receives-1mln-vat-refund-from-ethiopian-govt-176978.html so the company is capable of getting money back.

As TK would be such a revenue generator for Ethiopia would make sense to prioritise it over other possible monetary commitments. Would be a disaster for the Ethiopian government and its efforts to launch its mining industry if Kefi could not get TK off the ground and it is going to want as much progress as it can pre election.

International developments could be slowing things down or it could be a case of Kefi and the consortium keeping a lower profile till the deal is done or consortium members needing more reassurance could even be a case of progress being accelerated and kefi being too busy to offer all the reassurance we shareholders would like.

Old news.

https://masterinvestor.co.uk/equities/johns-mining-journal-galantas-kefi-xtract-and-more/

formal meetings

agreed the tasks and timetable for development of the Companys Tulu Kapi gold project

agreed..to upscale security around the Project,

endorse KEFIs historical Project expenditure,

confirm KEFIs exploration licences

confirm the construction schedule for the offsite infrastructure

Project remains on schedule to launch shortly

full Project launch as soon as possible after the Companys Annual General Meeting, which will be convened in due course for a date before the end of June 2021.

Sorry should read “in a Austrian accent.”

Only if you can say I will be back in a Austrian or wipe out the the Vietnamese army with a bow and arrow.

Danke urai5.

Thanks Tintin35 good find.