Member Info for Robjm66

https://www.***************************/kefi-gold-copper-say-its-all-systems-go-in-both-ethiopia-and-saudi-arabia/412977276

·    approval and execution of detailed finance documentation in the current quarter, Q2 2021;
·    receipt of Project equity/subordinated debt subscriptions to settle following the KEFI Annual General Meeting in June 2021 and senior debt drawdown to then follow in H2 2021; and
·    production commissioning of the open pit mine to start in Q4 2022.

Well guess they can argue things are still on track just delayed by more Ethiopians wanting to get on the train sorry Cab.

“It is all systems go in both Ethiopia and Saudi Arabia...”

“mining contractor to invest in KEFI shares” guess the contractor will actually have a better idea than us.

Well harry and kefi know the options will be back in the money when things do get the go ahead maybe what was cynical is the timing.

The commitment from the new Ethiopian consortium in May now the key date for us anyway.

For the Ethiopian government “in for the settlement of equity funds mid-year;” means the can declare all systems go just before election.

All boils down to to extra Ethiopian group did come in at the last minute hence the delay. Apart from that Kefi will likely get a bit smaller share in reflection of that and things obviously have been delayed by the new groups involvement.Added standby cash facility included and a can kick though activities continue “the Project financing is being finalised, scheduled long-lead Project activities continue to be progressed”

“In accordance with previous guidance, there have been no material changes in the Project financing plan with the estimated capital costs of the Project at c.US$263 million in total, comprising c.US$221 million for initial development, c.US$21 million sustaining capital and c.US$21 million closure costs. In addition, a standby facility of c.US15 million has now been included in the finance plan to provide additional headroom and the mining fleet is c.US$60 million.

Ethiopian private sector organisations which have expressed interest to also invest in TKGM are expected to commit in May in time for the settlement of equity funds mid-year;”

Could be worse as May not far off I guess, explains why we are being told now as people will wait that long. All feels a bit cynical though I personally would have not run for the hills at the delay having waited this long.

Should be a lively webinar.

Investor Webinar
The Company will host its usual live quarterly webinar at 9.30 am London time on Tuesday 27 April 2021 which will be accessed via:
https://webcasting.brrmedia.co.uk/broadcast/6076035b0386285386cc80f5
Shareholders are encouraged to submit questions by emailing: questions@brrmedia.co.uk

Plus Kefi/harry might have thought great results for Hawiah we will release them now that will give the share price a boost before TK news.

Forrest Ideally yes but phase three of the drilling was completed could not really sit on the results especially as the site was visited by the Saudis who Kefi has to keep happy if they want new licence areas and want Hawiah to be a success.

“Let's be realistic regarding Hawiah” New mining rules bought in in January Saudi wants to diversify away from oil, Kefi has to only find a tiny percentage of the money to build a mine being the junior partner and “Development projects in Saudi Arabia have the potential to benefit from attractive financing terms from the Saudi Industrial Development Fund (SIDF), a quasi-state entity, which has the potential to provide circa 75% of the capital for mining projects on very attractive financing terms.”

“The Project team recently welcomed visitors and inspectors from both the [define DMMR] (DMMR) and the local government to the Hawiah site for a successful site overview and Project development meeting.”

“In preparation for the PFS, the first stages of the environmental monitoring programme and geohydrological studies have been initiated. These programmes will continue in tandem with the rest of the Project development to ensure a baseline is established and all regulatory requirements are met, with the intention being to complete the PFS by Q2 2022, ahead of a mining licence application”

In answer to previous comment about chunks of RNS sometimes you have to spell it out for people,in this case otherwise they come out with comments like “Hawiah is ten years away from production” the muted response is nothing to do with Hawiah but dissatisfaction over delay over update on TK.

This news actually has the potential to help TK get over the line as the big companies in the consortium could well be more interested in the Hawiah and the Saudi prospects anyway and see TK deal as an entry to tie into Kefi then Saudi.

Rob

https://uk.advfn.com/stock-market/london/kefi-gold-and-copper-KEFI/share-news/Kefi-Gold-and-Copper-PLC-Hawiah-Copper-Gold-VMS-Pr/84807316

The just-completed Phase 3 drilling programme has doubled the strike
and plunge extension of the Camp Lode structure from the 2020 MRE
area, with copper grades increasing down-plunge as anticipated by
the geological model.
-- The deepest massive sulphide intersection at the Camp Lode at a
vertical depth of 590m extends the total plunging strike length
of mineralisation to 1.2km from surface, with mineralisation remaining
open.
-- Drilling at the Crossroads Lode at Hawiah also confirms mineralisation
remains open down-dip and down plunge with the current known limits
of mineralisation at a vertical depth of only 380m

Baseline programmes for the Preliminary Feasibility Study ("PFS")
have commenced with a potential lodgement of a mining licence application
targeted for mid-2022 and the start of development in 2023.
-- An updated MRE is planned to coincide with the completion of the
Phase 4 drilling.

https://www.rns-pdf.londonstockexchange.com/rns/2211V_1-2021-4-12.pdf

The success of the early drilling phases has demonstrated that the tonnage and grade at Hawiah are robust enough to warrant moving the Project to the Preliminary Feasibility Study ("PFS") stage.

Additional Exploration Licences
The Project team recently welcomed visitors and inspectors from both the [define DMMR] (DMMR) and the local government to the Hawiah site for a successful site overview and Project development meeting.
After receiving positive reports, KEFI remains cautiously optimistic for the granting of additional Exploration Licenses in the up-coming months... This includes the nearby Al Godeyer exploration licence application located 11km west of the Hawiah camp

"We have triggered a Preliminary Feasibility Study targeting a mining licence application in mid-2022 and potential start to development in 2023, together with further exploration of the surrounding area for a large stockwork zone or 'feeder zone' to the massive sulphides, which represents a separate and potentially even larger-scale target.

Huge plus visit from the Saudis heavy hints of new licence including one close to Hawiah.

Thanks Smellyben.

Does not really tell you anything for sure either way on its own, had a exercise of warrants at same exercise price on 12 of October last year https://www.kefi-minerals.com/files/announcements/kefi-issue-of-shares-12oct20.pdf

Add this with today’s still 5 million warrants left unexercised by broker.

“Each Warrant will entitle the Broker to subscribe for one new KEFI ordinary share at a price of 0.65 pence per share. The Warrants will be exercisable for a period of 3 years from the date of First Admission.

The Company has agreed to pay the Broker certain commissions and fees, some of which will be satisfied through the grant of 28,461,538 warrants over KEFI ordinary shares (the “Warrants”) in connection with its appointment.”

Timing might suggest broker might want to sell into transformative news as early October news was expected like now. Would have thought if the broker expected bad news would have exercised full amount and dumped them at the first opportunity.

Mind you all this assumes the broker knows anything more than we do.

UTB got in here a long time ago for the Saudi potential and prospects still see most of the long term value coming them expect Hawiah to be a multiple of the size of TK if it is not already and new licence areas including the return of Jibal Qutman.

Would be real party time if they discover another Hawiah close to the present one.

Would expect more joint ventures in Saudi as would be hard for Kefi to cover both countries on its own. Looks like the last few wrinkles are being ironed out in the new mining laws and regulations that came out in January once that happens think mining projects will advance a lot faster in Saudi than in Ethiopia.

Kefi will get less of the pie in Saudi projects but bigger pies and would make sense for the Saudis to put a marker down by being generous to a foreign mining company to show they are serious about diversification of their economy.

That’s not to say I am not excited about the Ethiopian prospects and TK just think long term more value will come from Saudi.

No real value is in the Share price to reflect the Saudi prospects so would say they are the sleeping giant or giants.

Well a bit naughty maybe but TW is a long time supporter of the company and just saying the will be a RNS this week is not giving much away as he did not say what was in it.

Could be argued maybe that it’s only inline with previous guidance that the market would be updated in response to any significant development and as Kefi said they should be getting yes or no from the boards of consortium in March, early April after Easter was the natural time to do so.

Needed for the resettlement... Assisting in the development, initiation, maintenance, and revision of policies and procedures for the Re-settlement and Site Services Compliance/Government Relations Program and its related activities to prevent illegal, unethical, or improper conduct. Assists in the management of day-to-day operation of the Program...

Harry mentioned in a webinar that kefi had been approached by some Ethiopian investors in addition to the ones already interested but the impression from Kefi is that they were not going to delay anything significantly to enable more Ethiopian investment. Could have spelled that out more but might have embarrassed the Ethiopians.

The other big members of the consortium did not want to be named yet but would be named at a later date. The big companies were getting board sign off during this month. Likely once there is board sign off all round there will be no need for any secrecy.

“The Company's practice over many years was to make an annual allocation of options at the end of each calendar year. However, allocations in recent years were deferred pending the announcement that the project financing was proceeding for the Company's Tulu Kapi Gold Project.”

“Consortium seeking board approvals off financing March 2021”

Seems people are being a bit over dramatic latest snippets suggest this could only be the last day to just get board approvals before an announcement even then the reality is if the big beasts of the consortium want to take a little longer they will be allowed to take a little longer.

Doubt kefi would open themselves to anymore ridicule than normal by granting themselves options unless circumstances suggested financial closing was soon.

The reality is if we do not get an update tomorrow we will get one Tuesday which personally I would prefer anyway.

Think companies have an interest in the performance of their share price.

Thundering herds of financial regulators are not going to descend on Kefi if they are few days late with news considering what else goes on elsewhere on Aim.

As for moral obligation they are morally obliged to look after the long term interests of company and its shareholders and if they think that is better met by RNS straight after Easter than before...

Happy birthday ;-)

Think companies bend the rules sometime Kefi could say they received board confirmation a few days later than anticipated could even be true. That way the could RNS it say on the 6th of April that would give the share price nearly a full week to run and people would be less likely to bank a profit and move on elsewhere (possibly).

Bring out good news before then less time for share price to run people could bank their capital gains for this year and invest somewhere else. Logically people should hold on for good news from Hawiah and other good news in the pipeline but going to be lot of people that more interested in banking a quick profit, then looking for the next undervalued stock.

Not that fond of RNS late on in weeks would be a bit of a zoo if Kefi RNSed it tomorrow or Thursday we would have a day or two of total anarchy then everyone chewing the bones of whatever was said over Easter.

Well if you just go by the trading volume maybe two theories, one either some people know or think that there will be a short delay and not phased by a short delay might even see it as a top up opportunity after news hits other theory no one knows anything certainly not anything bad as then the volume especially the selling volume would be a lot higher.

https://www.bbc.co.uk/news/world-africa-56536360

Prime Minister Abiy Ahmed's announcement of the withdrawal of Eritrean troops comes amid growing international pressure on his government to act over numerous reports of atrocities in Tigray.
Together with his admission of the Eritreans' presence, it marks a shift in tone and approach. It could indicate the Ethiopian government feels it is in control of Tigray despite continuing reports of sporadic clashes with TPLF forces....

M i will break it down a bit as I am assuming you are new to Kefi.

1. People waiting for financial closing RNS which will name all partners in the consortium including very big companies would be a breakthrough for the company hence high level of tension here.
2. Might get a can kicking RNS that delays it a bit.
3. Would except a further drilling update from Hawiah sometime which is actually a bigger project than Tuli Kapi in Ethiopia and will get even bigger.
4. Would sometime expect news on the awarding of licence areas in Saudi Arabia sometime including the return of a project that kefi has done a lot of work on Jibal Qutman.
5. Might get a Rns just naming new investors from Ethiopia and or the big companies and offtaker.
6. Might get a mixture of some of the Rns above.

Might be worth your while following the Advfn kefi board as well as here as more likely to get some help to answer questions there.