Member Info for Robjm66

If the kefi gets the long targeted areas "We also expect this capital raise will facilitate the granting of additional long-targeted licences in Ethiopia, which we believe will be complementary to operations and the value proposition of Tulu Kapi." and kefi had to clear up its accounts up to get them maybe as a condition of listing it might be a good deal but the company will have to be a bit less coy about what has been going on behind the scenes.

“A firm placing is where specific investors agree to subscribe for firm placing shares. A firm placing provides a company with an opportunity to introduce new shareholders onto its shareholder register.”

“a firm placing of 903,193,818 new ordinary shares of 0.1 pence each in the capital of the Company (the "Ordinary Shares") at a price of 0.55 pence per Ordinary Share (the "Placing Price"), to raise £4,967,566 (excluding expenses) (the "Firm Placing"), including approximately £3.1 million in settlement of existing liabilities, arranged by Tavira Financial Limited ("Tavira" or the "Broker");” Looks like half going to new institutional investors?

"for financial commitments for capital and operating expenditures aggregating to almost US$1 billion including capital expenditure $320 million and life-of-mine operating expenditures such as mining services and power purchases over the life of the project, which are expected to be finalised during the next month or so to enable launch of major works"

“to fund closing costs and final preparations for project launch at Tulu Kapi, with full project launch expected in early 2025.”

“Safaya Investment In Commercial Enterprises & Management Co. L.L.C”

“Participants in the Capital Raise include long-standing UK Shareholders along with new institutional and other investors from Europe and the Middle East.”

"KEFI is pleased to have secured this international funding package to underpin the launch of Major Works at the Tulu Kapi gold project which are expected to commence in early 2025. We have at the same time provided a mechanism for existing Shareholders to participate.

"We also expect this capital raise will facilitate the granting of additional long-targeted licences in Ethiopia, which we believe will be complementary to operations and the value proposition of Tulu Kapi."

So who are Safaya? Who are the new institutional investors? Where are the long-targeted linences in Ethiopia? Come on Harry if you are offering a deal to existing shareholders tell us what the situation is.

Https://gulfnews.com/business/analysis/in-the-west-mining-ventures-keep-falling-into-the-esg-pit-1.1733124165376 (why it makes sense for kefi to list elsewhere and explore prospects in frontier markets)

..In the UK, the AIM market in London Stock Exchange used to be a good platform for junior miners to fund their startup operations. This market is a shadow of its former self as most institutional investors, now run by armies of compliance and ESG apparatchiks no longer invest in companies with a market value of less than 100 million pounds, and mining is virtually banned from greenwashed portfolios…

..On the permitting front, many mining projects, particularly large ones with big impacts, become political footballs. Witness the progress of the Resolution mine project in Arizona, which could make the US virtually self-sufficient in copper. Having gone through an exhaustive permitting process lasting over a decade and costing over $2 billion in exploration and other costs, Rio Tinto received the go ahead from the Federal and local authorities, only for Biden to ban the project in return for the Navajo and Apache votes in the swing state that had won him the previous US Presidential election…

Https://www.africafc.org/news-and-insights/news/afc-receives-top-honours-as-financial-adviser-of-the-year-at-the-2024-ijinvestor-awards

https://www.arabnews.com/node/2581414/saudi-arabia (saudi/Ethiopia)

https://www.kefi-goldandcopper.com/files/announcements/kefi-increased-loan-facility-and-bank-approval-6nov24.pdf

Re shares slowing things down err no.

• Banks increase proposed loan facilities from US$190 million to US$240 million (Most of the money coming from the banks)

The shares one tranche given directly Public sector, via shares issued by Tulu Kapi Gold Mines S.C. (“TKGM”, the Project company) to both Federal and Regional Governments.

The other.

Private sector, via Equity Risk Notes (gold-linked bonds and preference shares) of KEFI Minerals Ethiopia Ltd (“KME”, the local holding company), to be followed by their listing on the new Ethiopian Stock Exchange (To be followed so not holding anything back)

US$240 million bank debt ▪ US$45 million ERN o US$35 million share subscriptions to KEFI subsidiaries: ▪ US$20 million share subscription to TKGM by Governments of Ethiopia and the Ethiopian Region of Oromia ▪ US$15 million from one of a number of identified sources being considered.

https://www.kefi-goldandcopper.com/files/files/KEFI-Orior-Bank-Approvals-13Nov24.pdf

The Equity Risk Notes are expected to be placed US$15m to the subsidiary of a multinational company operating in Ethiopia which is repayable in cash or convertible into KEFI shares at KEFI’s election, and US$30m to other Ethiopian qualified investors with repayment after the repayment of bank debt and linked to the US Dollar or to the gold price. KEFI plans to list the Note on the Ethiopian Stock Exchange.(After bank debt is re-payed)

Kefi not going to need all the money in one go will need it in tranches. The key is the money from the banks. Getting involved with the new stock exchange is just as much about giving it more an Ethiopian flavour and helping the expansion of other projects that can then be funded at project level in Ethiopia rather than waiting for the cash flow from TK, borrowing or diluting at company level.

Https://press.et/herald/?p=106608&fbclid=IwY2xjawG2-clleHRuA2FlbQIxMAABHdV0E4CoUpS191APyybYs1I_p3-c1-cpjAu5I7aszBT1a0dbixutSR07IA_aem_tyr2xXl6H48P2yl6pTLe0Q

Kurmuk Gold Mine to begin plant commissioning by 2025..

..The government has been providing support, recognizing the mining sector’s importance for economic growth, job creation, and foreign exchange earnings. Brox, an Allied Gold shareholder, emphasized the long-term nature of mining projects and their transformative potential for the region.

Located in Benishangul-Gumuz State, Kurmuk Gold Mine is Ethiopia’s largest mining project and a major initiative in Eastern Africa. Currently, the project has created around 600 jobs and is set to employ over 1,700 people by the end of the fiscal year, showcasing its significant impact on job creation and economic development.

https://furtherafrica.com/2024/11/29/africas-mining-sector-attracts-us5b-in-ma-deals/

https://www.youtube.com/watch?v=8uwJ8bN4p58&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1 some big calls about the gold price at year end and end of first quarter next year.

https://im-mining.com/2024/11/29/vedanta-to-invest-billions-in-saudi-copper-metal-production-projects/

Https://english.news.cn/africa/20241129/0005726d433a46aeb2356b66bccf5dc8/c.html (Ethiopia general)

https://www.fanabc.com/english/asian-infrastructure-investment-bank-affirms-readiness-to-work-closely-with-ethiopia/ (Ethiopia general)

https://www.youtube.com/watch?v=wIaQWKpv6dc (Saudi mining)

https://www.miningmagazine.com/asia/news/4383578/hastings-signs-binding-deal-saudi-arabia

Harry was at the mining exhibition early this week https://x.com/MinistryofMine_?fbclid=IwY2xjawG1U4JleHRuA2FlbQIxMAABHY-i7WZ_hpCLtUZuKQR5Gw5msFGVyoxh3uDcUYsb4Nr-Ogc7SVKbEBJtfA_aem_-uLCDdw6qdgP_nRe0-h7dw

Https://www.zerohedge.com/news/2024-11-27/chinas-secret-gold-buying-confirmed

https://www.zerohedge.com/precious-metals/case-gold-incontrovertible

https://*************.com/views/77752/tom-winnifrith-bonus-bearcast-greatly-cheered-by-not-speaking-to-arry-adams-or-steve-o-hara

https://www.imf.org/en/news/articles/2024/11/27/pr24444-ethiopia-imf-reaches-staff-level-agreement-second-review-ecf

https://www.zawya.com/en/economy/africa/imf-ethiopia-reach-staff-level-agreement-on-second-review-of-financing-programme-statement-n185ubl4

https://www.ena.et/web/eng/w/eng_5528628 (ethiopia mining)

https://www.youtube.com/watch?v=ocdqlknat8q (saudi copper)

https://www.miningweekly.com/article/ptm-saudi-arabian-company-advance-cooperation-on-proposed-pgm-smelter-2024-11-27 (saudi mining)

https://www.arabnews.com/node/2580953/business-economy (saudi mining)

https://www.mepmiddleeast.com/projects/2b-mou-signed-india-and-saudi-copper-project (saudi mining)

https://www.2merkato.com/news/energy-and-mining/8166-ethiopia-eyes-electricity-export-to-tanzania-via-kenya (ethiopia general)

https://www.youtube.com/watch?v=ghu13pkaefq (saudi mining/amak)

"EFFICIENCY OF BUREAUCRACY." mentioned in presentation think that a factor that has been slowing things down. Think it was a bit of mistake talking about twenty years for mining projects most of that internationally especially in the west is down to bureaucracy and any opposition to any mining project they can cut through must of that in Ethiopia with support at the highest level in a way that would simply not be possible in the west.

What was accurate though is you need a lot of explorers slide 13 to get a much smaller number of viable projects so Ethiopia has to open up its mining sector internationally if they are serious about getting a lot of money from mining.

Https://www.zawya.com/en/projects/mining/saudi-arabia-prequalifies-bidders-for-first-mineralised-belts-sdj1lump

Saudi Arabia’s Ministry of Industry and Mineral Resources has announced the pre-qualified bidders for five exploration licenses in the country’s first mineralised belts at the Jabal Sayid Medina and Al-Hajar Aseer regions.

The qualified bidders are:

- Al Masane Al Kobra Mining Company

- Consortium of Artar & Gold and Minerals..

…The winning companies will be announced in January 2025.

https://www.cnbcafrica.com/2024/ethiopias-parliament-approves-extra-4-8-bln-spending-in-2024-25/ (Ethiopia general)

https://www.fanabc.com/english/pm-abiy-calls-for-concerted-efforts-to-realize-ethiopias-revival-across-all-fronts/ (Ethiopia general)

https://furtherafrica.com/2024/11/26/ethiopia-highlights-mining-potential-at-mintex-2024/ (Ethiopia mining)

https://www.arabnews.com/node/2580811/business-economy

(Saudi mining)

https://www.mining-journal.com/base-metals/news/4382788/vedanta-plans-usd2b-investment-saudi-arabia (Saudi copper)

HtTps://www.kefi-goldandcopper.com/files/presentations/kefi-mintex-presentation-24nov24.pdf

Been running around today but no big surprises here and some of the posts on here are just laughable.

It boils down to this.

ETHIOPIA MINERALS EXPORTS TODAY ARE UNDER US $1BILLION PERANNUM. EVEN IF ETHIOPIA IS ONLY 50% AS PROSPECTIVE PER HECTARE AS WA ,IT CAN TARGETUS $42 BILLION PERANNUM.

Just had the leader of the country visit the site of Akobo and put them front and centre of the Mintex exhibition and they are only a "boutique" mining company from their own admission.

If you are betting on TK not getting over the line you are basically betting on the Ethiopians expletive deleted but starts with F themselves.

Only surprise is the lack of vision amongst some people here moaning that they might have to sell at few percent loss when you should be weighing up a plan to transform a country.

Https://www.facebook.com/photo?fbid=930400622517167&set=pcb.930400905850472

Harry on stage. I did sign the call a general election petition of course. Will post the presentation when it pops up if someone else does not beat me to it.

Https://www.ena.et/web/eng/w/eng_5506593

https://en.sputniknews.africa/20241123/ethiopia-opens-mining--technology-expo-promoting-countrys-development-1069375401.html

https://www.fanabc.com/english/president-taye-highlights-governments-commitment-to-boost-mining-sector-in-ethiopia/

Mintex now open

It could be harry in one of the photos dipping his head but can only see half the face and from the side.

https://www.facebook.com/MinesandPetroleum

https://www.facebook.com/mintex.et

Https://www.kefi-goldandcopper.com/files/files/KEFI-Orior-Bank-Approvals-13Nov24.pdf

Gold and Minerals is expected to announce updated Mineral Resource estimates at both projects in the next three months, and preferred development plans over the following few months.

Making some assumptions about Mineral Resources to Mineral Reserves conversions and likely production levels for Jibal Qutman and Hawiah, and benchmarking these metrics against recent transactions, suggests a valuation of KEFI’s 15% stake in Gold and Minerals of US$50-78m.

Upside scenarios based on a 15% increase in resources at each project could underpin a valuation range of US$67-89m.

Https://www.kitco.com/charts/gold gold might end the week back over 2700 dollars an ounce.

Https://www.cnbcafrica.com/wire/653814/ (Ethiopia general)

https://english.news.cn/20241122/22f5bfc446e34f33bde227d0de6489af/c.html (Ethiopia general/gold)

If you look at what Ethiopia spends if it expanded it mining sector it could cover its expenditure just from mining.

https://www.youtube.com/watch?v=nO1nw0Cs4Nw (Ethiopia mining)

https://www.leaders-mena.com/maaden-eyes-1-billion-private-sector-boost-for-saudi-mining/