Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Https://www.statista.com/statistics/1088734/global-lithium-market-value/
https://www.woodmac.com/news/opinion/shaping-lithium-market/
https://www.cnbc.com/2023/08/29/a-worldwide-lithium-shortage-could-come-as-soon-as-2025.html
https://www.visualcapitalist.com/sp/direct-lithium-extraction/
https://www.mining.com/lithium-price-plummet-due-to-continue/
Looks like a price dip now then a pick up in lithuim prices next year.
Looks like kefi best bet is to see who comes out on top at Kenticha let them do the work then reap the benefit from having a prospect “along strike” which is kind of what Harry said. My guess is they will have to use foreign expertise (at Kenticha) as they have not developed the home grown talent yet Kenticha has had past tantalum production but that has had problems in the past. Kefi could joint venture the prospect using Saudi money now Saudi is looking to invest worldwide in mining projects. Company could end up with a ne string to its bow.
https://www.thereporterethiopia.com/36610/
https://www.capitalethiopia.com/2023/08/14/game-changing-lithium-production-to-commence-at-kenticha/
https://www.thereporterethiopia.com/37159/
https://www.miningweekly.com/article/abyssinian-launches-legal-dispute-against-state-jv-partner-in-ethiopia-2023-11-17
https://birrmetrics.com/ethiopias-minister-of-mines-declares-lithium-as-the-fuel-of-the-future/
https://www.theafricareport.com/333759/exclusive-saudi-arabia-targets-investment-in-east-africa-critical-minerals/ anyone signed up to Africa report?
The joint venture, involving Abyssinia Mining and Energy (AME) and Oromia Mining Share Company, has the potential to generate annual revenues of at least 300 million dollars, according to Habtamu. However, the project has encountered obstacles due to a dispute between the two shareholders, as explained by the Minister.
In response to the ongoing dispute, Minister Habtamu assured lawmakers that discussions were underway to find a resolution and determine the future course of action for the Kenticha Mining project.
(will try to find out more about the other lithium prospect when i have the time)
Https://www.businesslive.co.za/bd/world/africa/2024-01-18-ethiopia-throws-open-its-doors-to-foreign-investment-banks/
Harry mentioned that Ethiopia would be launching securities exchange
https://www.mining.com/web/saudi-arabia-flags-commodity-trading-ambitions-with-dme-stake/
As part of the agreement, the DME will be renamed the Gulf Mercantile Exchange and will expand in energy, metals and agricultural products. The Tadawul also has the option to take majority control of the exchange after four years.
The investment comes as Saudi Arabia spends billions of dollars to become a hub for the production and processing of metals and minerals. Its sovereign wealth fund is the majority owner of Tadawul, and a key investor in the kingdom’s broader commodities strategy.
HtTps://www.youtube.com/watch?v=5A_zlmiWEhk presentation now on youtube
Https://www.kefi-goldandcopper.com/files/presentations/kefi-webinar-18-jan-24.pdf the slides that went with the webinar
My take..
Well Harry pretty relaxed, obviously just sees it as a matter of time for kefi to launch it projects one after the other. You can see he is not sweating on the second bank approval at all. As for Saudi said they are working on another Rns now which is why they expect it to be the next announcement would expect it to flesh out the information in today's Rns.
The are not rushing to list as most of the money for kefi projects are not expected to need to come from shareholders looking to fund at project level like TK and probably JQ. Already looking a exploration in Saudi was mention of lithum and what sounded like a discovery which sounded like it was near a kefi area which kefi was watching but it was bit garbled people will probably have to watch the video back a bit to get the gist.
Looks like the locals are supportive of the whole TK project irrespective of their politics and are happy to move hardily surprising as they will get life changing amounts of money and anew house plus there are jobs and community works. Final sign off is not dependent on pace of resettlement anyway.
Jeff still working for kefi
Yes but on Ethipopai side.
Dual list
Ethiopia Saudi or Ethiopia..stock market palyin gjust a small part in our funding but feel we should dual list will play I tout when we focus on
Harry when are you looking to retire
20 years (joking)
Timescales?
Wrong in the past due to Ethiopia surprising us. We believe it will close in the timescales we now have.
Closing remarks
Appreciation for people that are riding the stockmaket shareholders and other organisations I have mentioned. Obvious now that kefi is preparing to launch upside is imminent as two countries are allowing us to get on with it.
We are now ready to go I look forward to celebrating with people.
Questions part one
What is the chance of funding being done in 2024 for a mine..
Only got access to the site 13 months ago (JQ)..the sovereign fund..can see the lines we are thinking along..how does kefi develop the two Saudi projects well we have accepted we will be a minority..might JV with others..would only need to put up a very small component of the finance package.
What is the status of licence area that were taken from kefi ?
We believe we will get them back.
How will finance in Saudi get financed?
Various options
What is the status of the sidf?
Very close talking to them premature to lodge formal
Full project financing for TK?
Slide show three jobs going on security sign off legal documents.. we are on the rebound had a camp out for a long time. Kefi being rigorous to make it water tight. First development of this type ever and first in thirty years in Ethiopia.
Can you guarantee that no money will ever need to be raised (on aim?)
Mining sentiment has been bad risk off market can understand shareholders frustration company does try to get financial support from other parties. TK banks have been working with us for five years they want to do this. We have been raising the bulk of money from other parties for the project launches.
Cash burn rate?
Made it clear that we are being carried by major party to day cash burn zero (Saudi)
TK capacity there to carry us.
Ethiopia another military confrontation?
A stretch to connect the Somalia port issue with TK and Kefi. Will be unarmed private.Security force in area. None of the parties are hostile to the project all of them want this to go ahead as the community wants it to go ahead just have to maintain goodwill.
Kefi board (improve) alignment with shareholders?
Open to suggestions but have to prioritize working on the projects.
How long will resettlement take?
90 day from notice. However working and preparing the ground for that now.
Exploration strategy in Ethiopia ?
Not that we are about to go in lithium exploration but open to opportunities (license application on minister website) open to JVs. Battery market booming posting
Does the community resettlement been done first?
No.
Funding resettlement?
Part of the package.
Everyone want to move?
Yes.
Various Same banks and no block to second bank approvals.
Revenue Royalties agreement? Possible in Saudi
Placings?
Not allowed never seen a right issue on Aim..primary bid only raised 200k but would look at new ways.
Have you explored different choices of financing?
Yes
Security?
Security monitored on site by independent experts.. safety first.
What do you expect the next announcement to be?
Saudi next announcement being worked on now.
Will you stand down if finance not done by certain date?
New ministry for mines (ex roads) he is project on his side and Harry on his side neither will keep their job will have succession built into company in
Rough transcript
Start
Harry walking us through slide show focus on Nubian shield…over the last two years things have turned for the better. JV in each. Slide of companies now in the Arabian nubian shield area. Allied gold 260 million ipo for Ethiopian project Barrick Ivanhoe Newmont. Corporate snapshot TK first project will generate 50 million pounds per annum after cost to kefi.. NPV five times the share price without looking at Saudi Arabia.
Big change in sentiment palpable in bot countries, changes in law environment has changed to the positive. Three projects in a queue and a pipeline of exploration
Things are moving now in TK independent experts will give sign offs, milestones achieved slide. Excellent team in Saudi to prepare each of them for development. Benchmark slide comparison to other companies.
Slide of structure of the syndicate for TK and Saudi kefi technical partner more money in Ethiopia and Saudi than in the stock market.
Having had final lead bank and lead equity investors other members going through their processes and can lay out plans for resettlement can close before resettlement (milestones ahead slide). Ticking off of compliance stage should be straight forward (most of the bits just ticking off). Government has given us informal assurance for proximal licence area exploration.
Work on JQ intensive, discussion on how big to build it when to build it Hawaih coming along behind that. Regional exploration. Booth was packed at the Saudi conference people wanted to talk to us.
Slides on director and so on. End of slides
"the offer of a 30-year tax holiday to companies moving their regional head office to Saudi Arabia. Both policy initiatives reinforce KEFI's commitment to Saudi Arabia for the long term and are being considered seriously." and the Company expects the project financing of GMCO's mine developments to be available along the following lines:
-- up to 75% of costs (including both feasibility and development expenditures) potentially being provided as Shariah-compliant project loans at internationally low rates from the Saudi Industrial Development Fund; plus
-- the remaining capital requirement of approximately 25% to be optimised by the GMCO partners who will ordinarily plan to fund it pari passu, or could potentially consider the range of mezzanine and equity finance now on offer in Saudi Arabia, if warranted at the time.
HtTps://www.investormeetcompany.com/ the site for the Webinar
Tomorrow at 2pm GMT probably will write it up as usual though would recommend people sign up to investor meet.
https://www.kefi-goldandcopper.com/files/announcements/kefi-investor-presentation-reach-20dec23.pdf
https://www.mining-journal.com/london-to-a-brick/opinion/4164154/aim-listed-kefi-battles-ethiopia pity its subscription only.
https://www.mining.com/at-saudi-arabia-forum-buzz-word-is-partnership/
Fiscal incentive
Saudi Arabia started a $182 million exploration incentive program, officials said during the event. State mining operation Ma’aden is keen to explore the region’s Arabian-Nubian shield of Precambrian rock straddling the Red Sea. The country has been offering foreign investors full ownership of projects, co-funding of up to 75% of capital spending, five years free of royalties, a 20% corporate tax and 30% discounts on local processing.
https://www.globalminingreview.com/mining/16012024/erg-and-thara-partner-on-cobalt-refinery-in-saudi-arabia/
https://bnnbreaking.com/world/saudi-arabia/saudi-arabias-mining-foray-implications-for-the-west/
The kingdom, known for its oil dominance, is now diversifying its economy and looking to tap into its untapped mineral reserves. This development could have significant repercussions for the United States and Europe, both of whom rely heavily on these essential minerals and commodities.
TCM probably knows its not true after, like a lot of his stuff more to wind people up than anything else.
To the poster that sent me a message through the premium lse inbox not signed up to premium so cannot read it just got the notification. There is a free message service on ADVFN though I do not use it much but I can read messages sent to it.
The trouble with Aim is it looks in decline and has been for years and you could argue that is the same for the city in general. Going forward would expect three trends to help Saudi one the trend to a more multi polar world and eventually the trend that has been good for tech stocks and dire for commodity stocks to reverse and the de dollarization and debt trends will focus minds on what is really important the necessities oil food minerals... That's before you even factor in the the growing economy of Saudi and the growing market for ipos there.
HtTps://www.themoney.game/stories/saudi-arabia-seeks-global-mining-deals-to-support-renewable-technologies
htTps://dig.watch/updates/world-bank-supports-ethiopias-digital-id-project-with-350-million
htTps://www.zawya.com/en/projects/mining/saudi-to-issue-30-mining-permits-in-2024-c3kgdlhe
htTps://english.aawsat.com/business/4790866-saudi-exim-provides-25-billion-credit-solutions-stimulate-mining-exports
htTps://www.globalminingreview.com/mining/15012024/metso-appointed-key-technical-partner-for-evms-saudi-arabian-lithium-plant/
htTps://www.proactiveinvestors.co.uk/companies/news/1038380/royal-road-minerals-jv-granted-preferred-bidder-status-for-jabal-sahabiyah-exploration-license-in-saudi-arabia-1038380.html
Nabitah-Tathlith belt same belt as Jibal Qutman
Https://www.youtube.com/watch?v=BiJDb3_3fL0 36 minutes