Member Info for Robjm66

Harry spends more of his time in Ethiopia than anywhere else he has mentioned this multiple times and has a daughter married to an Ethiopian and appointed as Ethiopia’s honorary consul in Cyprus by the Government of the Federal Democratic Republic of Ethiopia.

Guess that the usual suspects are getting more more desperate with weaker and weaker arguments is a good sign.

Buck misses the point that TK is not in Tigray and Tigray semi independent now its bit like saying do not invest in England because of some problems in Scotland except Scotland's a lot closer (456 miles just from Mekele to Addis). Its the kind of walk even the Proclaimers might think is a bit of a walk.

Https://www.zerohedge.com/news/2025-05-10/comex-show

Https://www.kefi-goldandcopper.com/files/files/Tulu-Kapi-Gold-Project-Development-Initiatives-2014-2024.pdf

In addition to the deeper zones at Tulu Kapi there are proximal targets identified that

could add to the current mineral reserves and provide additional plant feed in the

future.

https://www.kefi-goldandcopper.com/files/files/KEFI-Tulu-Kapi-Gold-Project-Overview-March25.pdf

Significant potential for extended production life through exploration underground and in proximal exploration areas.

The Business Plan is to extend the mine life below the 1,400m level (40m below the planned base of the open cut) using underground methods. Below this level there is an existing Indicated resource of 1.08 Mt at 5.63 g/t for 220 koz of gold. The last drill intercept was 90m at 2.8g/t, indicating significant extensional potential which has been assessed as +1M oz. The 2022 analysis of the underground potential determined the potential for 1.5 Mt at 4.1 g/t (200 koz). The cost

of mining (excluding processing, site administration etc) was estimated to be approximately $130 million which compares with its revenue contribution of $480 million assuming a gold price of $2400/oz.

Maybe you should come back when kefi runs out of gold Bonkers.

Https://newbusinessethiopia.com/investment/uk-government-partners-with-invest-africa/

https://watcher.guru/news/after-pausing-brics-saudi-arabia-eyes-100-billion-deals-with-the-us

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3170-tsx/ie/179782-ivanhoe-electric-subsidiary-cordoba-minerals-corp-signs-definitive-agreement-to-sell-remaining-50-stake-in-alacran-copper-project-in-colombia.html

(Copper)

https://www.businesslive.co.za/bd/companies/mining/2025-05-09-miners-flock-to-copper-amid-dwindling-global-supply/ (Copper)

https://www.kefi-goldandcopper.com/projects/saudi-arabia/hawiah

Considering the increase in gold price has far outstripped the increase in costs over the last few years and now TK will be able to pay back all loans in the first year doubt harry will be sweating.

“I would say a raise of some sort will happen before first pour, unless saudi is sold ,”

Keif will be able to do deals like other miners post full TK go ahead like streaming and royalty agreements. As for Saudi think some of it will be sold maybe all. Also would expect kefi to become more involved in Ethiopian stock exchange and look at other listings other than Aim.

Meanwhile Allied making progress on their mine in Ethiopia.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3290-tsx/aauc/179722-allied-gold-announces-first-quarter-2025-results-achieving-strong-quarterly-production-advancing-optimizations-and-growth-projects.html

Advancement of Key Growth Initiatives

Kurmuk: The Company continues to track well against plan for the Kurmuk Project, having achieved key milestones and progress during the first quarter of 2025. The Company is well-positioned to achieve the goal of commencing production by mid-2026.

For the quarter ended March 31, 2025, $56.2 million was spent on the Kurmuk Project, comprising direct construction capital expenditures and exploration activity.

A third quarter 2025 update is planned for Kurmuk Mineral Resources, Mineral Reserves and exploration to demonstrate Kurmuk's potential for extension of mine life, taking advantage of the increased plant capacity. The Company expects Kurmuk to produce an average of 290,000 ounces per year for the first four years and 240,000 ounces per year on average for the mine's life, with AISC(1) below $950 per ounce.

HtTps://www.youtube.com/watch?v=hSaJdadPahk (Gold)

Bonkers the estimates would have been based on the gold price and underlying cost for example five years ago say 2000 an once gold, costs 1000 an once.. so 1000 profit today say 1200 costs and 3200 an gold price gives double the profit an ounce and that's ignoring all the discoveries made over the last five years.

By your logic labour should have won the local council elections as the won the general election.

Https://goldprice.org/ looks like gold price building again.

HtTps://www.zawya.com/en/projects/mining/355-mln-spent-on-saudi-metal-exploration-ahhpocay

htTps://www.youtube.com/watch?v=dAy3L3x3xzk (Ethiopia mining)

htTps://www.arabnews.com/node/2589564/business-economy (Saudi mining)

Https://www.facebook.com/MinesandPetroleum

Gold is more than coffee. Prime Minister Abiy Ahmed (Dr.)

****

Prime Minister Abiy Ahmed (Dr) stated that the gold exported abroad in the last 10 months has brought more foreign exchange revenue than coffee.

The prime minister pointed out that this result was achieved because the manufacturing industry Ethiopia is able to produce and support machines that can produce gold.

He mentioned that the income of the mining sector can contribute a lot to replacing products and the discovery of foreign currency. He said that the industry has played a significant role in helping this sector achieve its goal.

Https://www.proactiveinvestors.co.uk/companies/news/1070631/kefi-advances-tulu-kapi-with-new-syndicate-member-icymi-1070631.html

Litody Ok I can give a quick and dirty run down on recent developments before I go out.

Ethiopia the last big barrier to TK development has been the AFC ratification by the parliament hence the recent buying after ministerial backing. Previous to this harry was assured that AFC ratification would be able to fit into the most recent schedule for development of TK. Due to past delays and over optimism by the company most people sat on the fence and till this recent development.

A lot of that scepticism has now evaporated but not all till it gets passed by parliament which could be next week or next month after which I would expect another surge in the share price. Another development has been the introduction of a mining contractor that is so confident they are willing to invest money for pre production costs which means the cost for TK should now be covered after everyone signs on the dotted line.

If everything goes to plan worth TK should get a good news flow over the next couple of months leading to full launch June/July.

Saudi likely being sold or partially sold it may end up making sense to hold part of it due to the high and likely going higher gold price. The company says it has multiple expressions of interest but recently says due to TK now being covered will not be rushed in a sale and will negotiate from a position of strength. As for price got estimates for that side from $10 million to $120 million plus from shareholder and posters.

Biggest development probably the much higher gold price that makes all kefi gold projects and prospects potentially a lot more valuable.

Https://www.fanamc.com/english/amp/council-of-ministers-approves-key-economic-regulations-forwards-major-draft-proclamations-to-parliament76159-2/

Https://www.kefi-goldandcopper.com/files/announcements/kefi-company-update-7jan25.pdf

“the inclusion of a preliminary valuation of KEFI’s 15% beneficial interest in GMCO by assigning US$80/oz of gold equivalent resources.

Things have moved on a bit since then but why should kefi be selling JQ a gold project at say 80 or 100 dollars gold equivalent when a few years down the road it could be puling gold out of the ground at 3000 or more likely 4000 dollars an ounce plus.

Say kefi do not even increase its share it would still be a low cost cash cow.

Think we agree kefi have good cards to play its down to how they play them.

The argument for holding on and if possible increasing the holding JQ is that it would be very cheap to get going with most of the money covered by a SIDF loan and kefi only having to contribute a small share on the cost side anyway. Even though kefi would have a smaller share of the profits that would be the same or more than it would have been with the gold price a few years back.

Then kefi would still have a base in Saudi and be able to bid for new areas and projects with a greater share and a great record of discoveries in the kingdom.

Admit-tingly would probably get a smaller share of projects in Saudi than TK but would be a lot easier to get projects going in KSA than Ethiopia. Also I would expect kefi to have a smaller share of projects in Ethiopia in the future than TK which is likely to be a bit of a one of with kefi high percentage share.

Https://www.arabnews.com/node/2599019/business-economy Looks like it has been updated with a bit of extra detail. The consortium of Artar, Gold & Minerals Ltd., and Jacaranda will invest more than SR62 million in exploration at the northern Al-Hajjar site, including 52,000 meters of drilling. They will also direct SR4.2 million toward local infrastructure projects.

The Kingdom also offers incentives under the mining investment system, such as allowing foreign companies to fully own operations and providing up to 75 percent funding for capital costs through the Saudi Industrial Development Fund.

https://www.arabnews.com/node/2599019/business-economy (Saudi mining)

Maybe hold onto JQ with an increased percentage of that project in exchange for a deal on Hawiah and kefi doing the discovery exploration and another miner doing the expansion drilling on new discoveries.

https://*************.com/views/80120/kefi-video-what-does-there-or-therabouts-mean

I would sell kefi interest in Hawiah and all the licence areas apart from the JQ ones. Can get JQ up and running for peanuts and with a sidf loan and the nature of the deposits and would expect the gold price to go a lot higher. Hawiah will be one of the biggest copper projects in the world especially with its new areas but that will mean a lot of investment and copper price not going to go up in as fast as gold.