Member Info for Robjm66

A while back the banks actually did not make a last planned visit as they thought there was no need so the statement was reasonable when it was made. So would think it is connected to the fact that the banks plan to loan more money so have to refresh everything and the time that has elapsed more than anything else.

Security has had to be independently signed off all the way along.

“We also engage leading independent industry specialist advisers to ensure  compliance with the latest international standards.” Kefi website. They have people on site that report directly to the banks and consortium members.

Its right there in various presentations for example https://www.kefi-goldandcopper.com/files/presentations/kefi-investor-update-presentation-5nov24_0.pdf slide 27.

As for share consolidation basically they just answered the questions in that they had no plans to do so at this time.

"Q: Where is the Q3 operational update? And accompanying webinar?

 

A: An update will issue in early January and webinar will follow. We can take a poll at the next webinar as to whether shareholders want Quarterly Updates, as we have been lobbied to stop the quarterlies as we release news on a continuous basis, as and when events happen."

Well personally will be voting for the quarterlies webinars to continue as A. A CEO should be answerable to their shareholders and B) If you do not walk people through developments you just leave vacuum that will be filled by the usual suspects with their usual nonsense.

Https://tvbrics.com/en/news/ethiopia-s-prime-minister-emphasises-the-prospects-of-gold-mining-for-the-country-s-economy/

https://www.fanabc.com/english/ethiopias-gold-mining-industry-presents-substantial-investment-opportunities-premier/

https://www.miningweekly.com/article/akobo-prepares-for-first-exports-of-gold-from-segele-project-2024-12-10

https://www.fanabc.com/english/ethiopia-entering-a-new-era-of-revival-marked-by-significant-advancements-in-various-economic-sectors-pm/

https://ebc.et/english/newsdetails.aspx?newsid=8803

Https://www.facebook.com/MinesandPetroleum?locale=en_GB

Https://mugglehead.com/wheaton-precious-metals-gets-resource-boost-with-ethiopian-gold-stream/

Ethiopia has been seeing an increasing rate of mining activity. In November, President Abiy Ahmed said he expects the country to generate US$2 billion from gold revenue alone this year for the first time.

He recently inaugurated a large-scale gold processing facility held by the Akobo Minerals AB (publ) (FRA: 643) subsidiary ETNO Mining.

in recent years, the nation’s government has made significant strides to curb illicit activity while providing incentives for regulated projects.

These include duty-free equipment imports, tax breaks, and a low government free equity share requirement of 5 per cent. Other African countries like Guinea, Senegal and Mali require a higher percentage, thereby generating more profit from the activities of mining companies.

Ethiopia also produces significant quantities of lithium, iron ore, tantalum, platinum, copper, nickel, manganese, coal and rare earths. Mining is the nation’s fastest-growing economic sector.

Https://www.ena.et/web/eng/w/eng_5601102

Addis Ababa December 10/2024 (ENA)—Prime Minister Abiy Ahmed revealed that Ethiopia’s gold mining industry stands out as a significant driver of growth, presenting immense potential for both local and international investment.

“Ethiopia is one of the fastest-growing economies in Africa and a beacon of opportunity on the continent. Among its many thriving sectors, the gold mining industry stands out as a significant driver of growth, presenting immense potential for both local and international investment,” the premier wrote on X.

Upshunt.

Take the newspaper to court and you are starting to get involved in politics which is the newspapers mistake (instead of just reporting on it).

Kefi would probably have to point to the numerous articles attacking the international miners getting involved in Ethiopia and thinly veiled attacks on the government to point out that the newspaper is biased.

Then the newspaper would be pressured to call as witnesses the anonymous sources behind a lot of their stories which they would refuse to do (as journalists do not do normally).

All the publicity might annoy the government who nevertheless tired of the snipping from the newspaper might use it to come down on it like a ton of bricks. Then you are going to get a series of stories of how a horrible international miner is picking on a poor defenceless Ethiopian newspaper.

Irrespective of any rights or wrongs would be a total you know what show. Or the company can just save its energy make bit more progress and the story gets forgotten.

I am I am a shareholder Fantasy hope that counts.

What I would like to see is news on Ethiopian government ratifying membership of AFC (as after that should be plain sailing for TK) more detailed plans of kefi listing and maybe a rough idea of the timescale of of the selling of the Saudi assets.

Yawn boring BT.

https://addisinsight.net/2024/11/fitch-upgrades-ethiopias-domestic-credit-rating-amid-economic-reforms/#:~:text=In%20a%20significant%20development%20for,optimism%20toward%20Ethiopia%27s%20economic%20restructuring.

https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3254389

https://kenyanwallstreet.com/fitch-upgrades-ethiopias-credit-rating-as-addis-cuts-domestic-borrowing/

https://*************.com/views/77929/tom-winnifrith-bearcast-be-careful-what-you-wish-for

“The Ethiopian Securities Exchange, or ESX, has just achieved a significant milestone, closing its capital raise with an astounding 240% subscription rate. The exercise, which began in November 2023, aimed to secure ETB 631 million (US$ 11.07 million) to kickstart operations.

However, the overwhelming response from both domestic and foreign investors, often coordinated through a broker eager to capitalize on Ethiopia’s promising financial landscape, saw the exchange collect ETB 1.51 billion (US$ 26.6 million), more than double the initial target.”

The exchange is being backed by the government and the government is being backed by the IMF. If there is any problem it will likely be around the large numbers of people that will want to list there.

https://www.cnbcafrica.com/media/6364859792112/ethiopia-securities-exchange-targets-100-ipos-as-listing-date-nears-/

https://shega.co/news/ethiopia-kenya-agree-to-potential-cross-listing-of-companies-on-exchanges

https://x.com/ESXEthiopia/status/1859970222591221925 Hmmm

"Congratulations to our Executive Chairman, Harry Anagnostaras-Adams, on being appointed as Ethiopia’s honorary consul in Cyprus by the Government of the Federal Democratic Republic of Ethiopia!" hmm cannot see any promotion from his present status to a cabinet post in the Ethiopian government covering the financial sector that might be a step to far.

Https://birrmetrics.com/authority-grants-securities-exchange-and-otc-licenses-to-esx/

"ESX is well-equipped to commence trading activities," Wongel told BirrMetrics. "We will start by offering trading in equity securities, fixed income instruments like government bonds and corporate debt, as well as an OTC market for unlisted securities."

Wongel explained that "trading will commence after Trading Members are admitted and their operational readiness is ensured."

"This step is crucial to guarantee a secure and efficient start to market activities," Wongel added. "The official launch date will be announced soon."

Well was going to save this for the morning but considering the comments.

“.I've said before until the stock exchange market is open ...NOTHING HAPPENS”

“.what research I have done is next April at least before ESE opens if it does”

https://addisinsight.net/2024/12/ethiopias-capital-market-hits-a-milestone-with-the-launch-of-the-first-securities-exchange/

“The Ethiopian Capital Market Authority (ECMA) has officially licensed the Ethiopian Securities Exchange S.C. (ESX), marking a historic milestone in Ethiopia’s economic transformation. This move is a key component of the country’s ongoing efforts to modernize its financial systems and support sustainable economic growth.”

“The ESX has also been granted an Over-the-Counter (OTC) market license, providing a platform for smaller companies that do not meet the stringent requirements for listing on the main exchange. This inclusive approach is designed to expand access to capital for businesses of all sizes and foster broader participation in Ethiopia’s capital markets.”

https://addisinsight.net/2024/12/ethiopias-banking-reform-bill-set-to-be-ratified-in-weeks-opening-doors-to-foreign-banks/

https://ethiopianmonitor.com/2024/12/07/ethiopias-first-securities-exchange-gets-operational-licence/

Thanks Mithrel unless the paper can actually provide anything to back up what they said you have to conclude they basically lied by the looks of it or if you are being charitable were misled by "anonymous sources".

Its the same kind of sources that have put out half truths in the past you notice they do not mention that kefi are exiting Saudi to concentrate on Ethiopia as that would not fit their agenda as that demonstrates that kefi will be cashed up and are fully committed to Ethiopia.

Company targeted as they have not played the game in past the sources have probably not been reined in (yet) as it has suites the Ethiopians for kefi to exit Saudi and concentrate on Ethiopia. Now the Ethiopians have got what they want and signaled they happy by awarding a new licence the article was kind of date as soon as it was written.

Urai5 think Harry will not be around forever i would not be surpsied if he steps down sometime after TK gets over the line. It even more likely now due to the Saudi assets being sold as he will not have that sense of unfinished business. Ironically Allied would likely not be in Ethiopia or be in a position to do their deal if kefi had not opened the door by pushing for business reforms and opening up the mining sector. Another factor is Allied had very deep pockets even before this deal so could chuck a lot of money at any problem and did not have to patch together a wide consortium.

Urai You are simply clueless about Ethiopia if you think NGOs will be allowed to impede progress on a critical project for the country or its newly forming international mining industry in general.

However feel free to give half a dozen examples of how there have been fantastically effective efforts from NGO to clean up the mining sector in Ethiopia prior to kefi and other international miners getting involved.

Anyway what would the locals have to moan about when they are getting a good deal and kefi will be responsible anyway.

Urai probably the smallest problem if its a problem at all A. The residents do not own the land. B. They would get new houses. C. Would get what is for them a transformative amount of money. D. Kefi have already shown the commitment by investing in local school church and other programmes. E. Would bring jobs to the Area. Bar shareholders they should be the most impatient to see this done.