Member Info for Robjm66

Gov spent ten million so far on their side.

"Investor sites" code for BB commentators some that do not even hold or just trade the up and downs some who just comment on kefi as they do not like TW. Probably the vast majority of holders are just that holders who do not comment online. Whats pull it off mean anyway pull off TK pull off Hawiah pull off Jibal Qutman pull of a JV?

Could be the next news drops from Saudi as kefi have done most of the infil drilling programme at Hawiah, commencing a second phase of drilling at Al Godeyer exploration on other areas in Jibal Qutman including Asfingia and will make decision on how to develop Jibal Qutman.

Market will probably like news away from the soap opera that is TK and further upgrades at Hawiah opens up the chance of a JV there even more and an expanded JQ start up due to higher gold prices and further discoveries. All with a background of high copper and gold prices. Harry was actually in the KSA recently so would not be surpsied if something was cooking there.

"At the main Hawiah deposit, over 50,000m of the 65,000m infill drilling programme is complete in preparation for updating the existing 29.0Mt Mineral Resource Estimate

At the satellite Al Godeyer deposit, a second phase of drilling comprising 4,500m has recently commenced to infill and expand its maiden MRE reported in 2023 (see announcement dated 3 April 2023). • These two drilling programmes are on track to upgrade at least 90% of the >30 million tonne combined MRE to the Indicated Resource category, forming the basis for Ore Reserves.

GMCO is progressing evaluating alternative development scenarios whilst also seeking lower-cost solutions for inputs like water and power. GMCO plans to then select its preferred development scenario.

• Systematic exploration is ongoing across the three contiguous Jibal Qutman Gold

Exploration Licences (“EL’s”) to confirm structural controls on higher-grade gold

mineralisation and identify further resource potential:

Drilling is ongoing to define the limits of gold mineralisation and estimate a Maiden Resource at Asfingia as well as other prospects at Jibal Qutman."

https://www.kefi-goldandcopper.com/files/announcements/kefi-operational-update-q1-24.pdf

Https://www.zawya.com/en/projects/mining/abu-dhabis-ihc-plans-1bln-of-mining-acquisitions-in-2024-signs-jvs-in-africa-s9zxuqls (Middle east africa takeovers)

https://www.ft.com/content/2885f8da-cafc-4bc6-b15b-1c5275db1280

(Middle east Africa takeovers)

Guess Ethiopian mining Farm ins or Joint ventures are possible in Ethiopia though doubt kefi would give away as much as East Africa metals.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1112-tsx-venture/eam/161424-east-africa-metals-receives-extension-of-mine-development-periods-for-mato-bula-da-tambuk-and-terakimti-projects.html

Vancouver, British Columbia--(Newsfile Corp. - May 24, 2024) - East Africa Metals Inc. (TSXV: EAM) ("East Africa" or the "Company") is pleased to announce it has received formal notification from the Ethiopian State Minister of Mines of the approval for an extension to the mine development period for the Mato Bula, Da Tambuk and Terakimti projects located in the Tigray region of the Federal Democratic Republic of Ethiopia.

The formal approval of these extensions to the mine development periods will allow for the importation of mining equipment and clear the way for the initiation of construction work.

https://eastafricametals.com/adyabo/

Tibet Huayu Mining Co. Limited (“THM”) is be responsible for 100% financing of both Adyabo’s Mato Bula and Da Tambuk mine construction costs resulting in a 70% THM and 30% EAM ownership.

https://uk.investing.com/equities/tibet-huayu-mining-co-ltd-company-profile

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1112-tsx-venture/eam/152224-east-africa-metals-announces-tibet-huayu-has-approved-the-initiation-of-mining-development-programs-at-the-mato-bula-and-da-tambuk-mines-ethiopia.html

https://eastafricametals.com/about/

Good luck.

https://www.mining-technology.com/news/first-quantum-copper-projects-peru/

https://www.arabnews.com/node/2515696/amp (general)

https://www.mining-technology.com/news/anglo-american-rejects-bhp/

https://www.theeastafrican.co.ke/tea/business/safaricom-ethiopia-eyes-new-350m-loan-from-ifc-4634050 (Ethiopia general)

Https://english.ajel.sa/business/saudi-industry-minister-discusses-mining-cooperation-with-jordanian-companies

https://www.fanabc.com/english/ethiopia-saudi-fms-discuss-bilateral-and-regional-issues/

https://www.zerohedge.com/commodities/copper-bull-speculation-vs-fundamentals

https://www.bnnbloomberg.ca/video/our-joint-copper-venture-with-vale-is-going-to-be-a-significant-mine-in-brazil-ero-copper-ceo~2879267

Smelly kefi is a lot more advanced now both in Suadi and Ethiopia then when you were optimistic enough to have a large chunk of the company. Also not exactly a shortage of people happy to be a voice of doom day in day out. Next news to drop could be a development plan for JQ or completion of Hawiah drill campaign and focus will naturally switch a bit more to Saudi anyway due t the fast progress there.

However looking at recent news.

Negatives

Negative is the company was not clear enough over second bank board and credit approvals a negative.

Positives

No cash raising envisioned near term.

Artar not pressing for repayment.

Lost license areas likely to be returned.

Kefi looking at deposits near TK.

Looking at much bigger expansion of projects in Saudi.

Kefi open to JVing.

Hawaih TK and Jibal qutman all looking at being bigger and more profitable operations.

Everyone can make their own mind up but in my view the positives outweigh by far the negatives

Nimrod2 I know what you mean I would actually financially be better of just keeping quiet as could potentially then buy a bit cheaper and as a bonus would save me time and energy.

Would sound more reasonable if you had not traded in and out and your level of optimism matched your latest trades.

Thanks Bear and Nick makes more sense now all parties were happy for early works to go ahead but formal board and credit approval from the second bank would have taken longer and everyone wanted to get going now probably the Ethiopian government most of all that have already spent half their twenty million investment and have just agreed their share and to provide some security in the area.

Overall think Harry has been a bit misleading however if the second bank had given in writing the formal board and credit approval the next stage would have been early works anyway followed by final documentation by all parties and Major works then production.

As for Artar that already been covered multiple times that is transparent if Artar wanted to play hardball would have done so already they have not done so as there is no benefit in them doing so. No benefit in them doing so as to break up the partnership would mean getting another partner in that would want the same share or greater then kefi not guaranteed to be as successful as kefi in making discoveries and there would be the all the lost time.

What they have decided to do instead is go above and beyond to help kefi out.

Where kefi stuffed up was not splitting it into two rns over a couple of days the first one should have been second bank approvals then the second could be any other parties approvals and the added details about early works and so on. For once kefi got punished for moving too fast and putting out a rushed RNS. Harry does not seem to understand you have to throw the traders some red meat now and again but personally topped up before the webinar and will top up again if I can so i am not crying into my beer.

Mind you the company has done what it said it would and some of the people moaning now are the same people who said Kefi would never get second bank or the whole consortiums approval.

"the TKGM Board, comprising representatives from both KEFI and the Ethiopian Federal and Oromia Regional Governments, has been established to oversee the project's development."

"At the current gold price of approximately US$2,350/oz, the Tulu Kapi Gold Mines Project is anticipated to generate hard currency exports averaging US$377 million per annum. Furthermore, royalties and taxes are expected to amount to US$69 million on average annually, while operating expenditures are projected to reach US$119 million per annum," 

HtTps://www.investormeetcompany.com/meetings/operation-update

Https://t.co/lHpOSekKdM

Smellys a trader not an investor here, he has invested here in the past when kefis projects was less advanced and is quite capable of turning around and suddenly thinking kefi is great again. Think he has the same problem as Plump in that he was hoping to get in or back in at a much lower price.

Good night.

Probably the naysayers tried to find something negative connected to the webinar or a Harry stuff up but could not find anything so now sulking Themaskedsinger.

Part three

15.Can you please comment about possible joint ventures?

Initial guide to long term strategy is to JV as seen by us JVing with Artar and government in Ethiopia. Longer term will naturalize the organisation (involve locals)..that might take us into local listing to admit the public (think is certain that kefi will list in other regions) rest of mining industry has turned up kefi keeps getting approached people that want to deal with the assets or partner us or JV another asset (non kefi asset?) not only have we got these projects moving not only are metal prices at all time highs not only are the countries supportive but we have so many choices that they are coming out of our ears.

16.Would kefi consider selling a minority stake in TK?

Everything is on the table.

17.Move from Aim to lse full listing?

Look at when we are bigger.

18. How do you plan to protect shareholder value?

We feel the pain but by delivering and no excuse now and delver we will. Management team have scarified their wages to receive shares instead so they are shareholders too.

19.The biggest question for shareholders is the number of shares in issue what are the other funding options?

Been hard to get capital on Aim however been a big base of support with syndicates and partners. Did placing for advisors this way as it was the best was to do it this time.

20.Cash burn in Ethiopia?

400 to 500k per month corporate and Ethiopia changes with major works.

21.When will Artar have to pay the exploration costs?

Have to catch up sooner or later but good partnership and trust between kefi and Artar no tension number of ways to skin the cat may have nothing to do with the public stock markets (think maybe a cunning plan in the background)

22.Could say what the advisors that were paid in shares yesterday will be advising on?

Mentions Norman green other advisors wanted shares and now targeting 200000 ounces and TK ownership has gone up all this not by accident. Kefi turned corner.

23.Major milestones in May and June.

24.Clearly a major share trader as only ten days left in may not in the business of feeding share traders (great hilarity issues) the critical thing is that Is game on…

Closing comments

I appreciate this webinars..talking to 750 people. Its all good stuff now we can start to enjoy it with the progress i think we are going make.

(maybe should have signed of with what he said earlier "Saudi walk up drill targets ..government support.. two emerging projects..record metal prices”. joking apart all looks good no cash raising envisioned near term, Artar not pressing for repayment, lost license areas likely to be returned kefi looking at deposits near TK and much bigger expansion of projects in Saudi and open to JVing and bigger yearly production ounces.)

Part two

3.Question about wet season and what works can be done when

Detailed project schedule..

4.How will drawdown of funds will work.. kefi historical spending.. government spent half twenty million dollars already (kefi should have highlighted this more in the past). Major works 320 million package (Excluding mining fleet) ERN (Equity) spent first the bank loan.. all the big money in the final works.

5.Will kefi need money for TK before major drawdown of funds for the project?

The answer for the budget is no but what we have to check is in the home stretch is the final lump some needed for the project that no extra money is required if it is but indicators are we have cover it all maybe even more than covered it syndicate carrying the load now..

6.If the TK finance is done in this half year will there be a fixed schedule for construction that the company can be measured against?

Yes.

7.You mention an additional layer of due diligence being set up by syndicate parties will this process delay drawdown?

No the Extra layer is for the banks to get independent advice on security this happens in parallel.

8.Who will pay for security forces?

Two security forces police and private security contractors within the site we pay for our own contractors part of budget.

9.Now Ethiopian government has changed the laws when did the company realize they were needed?

Changes well flagged publicly company has been reporting them. Now in early works program.

10 have The licence areas that were given to shell company been returned and why is the company taking legal action?

Have not been returned but not taking legal action… no “antipathy” with the government expect return when we trigger major works (a big change in a previous webinar would not even discuss this now expect them to be returned when major works triggered by then the shell company would find it hard to defend any claim anyway due them doing no work on the licence areas and obviously the Ethiopian government as part of TKGM will feel more comfortable wit TK progressing and will not need a back up plan if that was the idea).

11 Further exploration areas in Ethiopia where?

Doing pegging (not that kind this kind “mark with a peg or pegs”) (sounds like areas near TK).

12 Rns 13th of May..TK mineral resource 1.7 million ounces.. cash flow?

Open pit Ore reserve plus.. (not sure I understand the question or answer)

13 Is Saudi potential cash flow based on 80 25 percent ownership (?) what the comparison to TK?

Too early to make a definite statement.

14.Water and Energy at JQ and how long till we get an update on JQ?

We are developing plans around JQ which will cover water and power

HtTps://www.kefi-goldandcopper.com/files/presentations/kefi-20_may_2024_quarterly_webinar_presentation.pdf

htTps://www.investormeetcompany.com/meetings/operation-update

My comments in brackets as usual.

Start Harry and Eddy Solbrandt chief operating officer of Kefi gold and copper. (both in Saudi)

Slide 3 entered Arabian Nubian shield slide… Just talks about Arabian Nubian shield general intro to company…three projects with also with exploration areas around around both sets of assets (projects).

Slide 4 goes into the gold rush in the Arabian Nubian shield area (the Taxi rank is getting a bit crowded)

Slide 5 comparative valuations mentions research report hxxps://www.kefi-goldandcopper.com/files/files/Orior-Capital-KEFI-Research-Report-13May24.pdf talks about consolidation in the industry (take overs and mergers) kefi “cheap”

Slide 6 kefi cheap just on the NPV of TK alone with a gold price of 2350 dollars..(slide) all ore bodies open for expansion more mines funded at project level exploration cash flow from TK)

Slide 7 expected milestones for Ethiopia harry history lesson then “anyhow” lead bank ratification and approval from its shareholders, the other people cracked on in the Syndicate (the second bank the equity risk note investors and the share investors from the government). The other day we announced we started the schedule for production. First stage early works..

Slide 10 In Saudi walk up drill targets ..government support.. two emerging projects..record metal prices..shovel ready down to grass roots..ahead of the pack project came good.

Questions

46 questions sent (Lol)

1.When will funds arrive and which conditions are still waiting to be met and how does the overall project flow to production (think they cheated and asked three questions)?

…Early works plus major works add up to production commencing (he walk people through the whole process to production can catch the full reply when the Q and A pops up nearly all is the usual stuff around building a mine). “Process designed to protect all shareholders from spending money too early”.

2.Has the second bank signed the deal off? A main shareholder in TKGM already spending their money..first bank gave approval risk note board approval other guys went to their committees and yes we have had confirmation from all of them including the second bank (kefi made a total hash of Rnsing this otherwise would not have people asking if the second bank had given its board and credit approval I red the Rns as saying this was the case as obviously not going to lunch the project without second bank approval but obviously it did not sink in with some people leaving a space for the usual suspects to make mischief) we have all agreed to early works..

TST its made clear in the webinar that the second bank gave credit and board approval like the first. Saying that, kefi should have made it clearer in the Rns that the second bank had given their board and credit approvals like the first bank and the ERN investor. They did say “confirmations that quickly ensued from all members of the Project's finance syndicate” and obviously TKGM which includes the Ethiopian government are hardily going to launch the project without approval from all members of the Syndicate. Think kefi relied on the common sense of people which is I admit in this case and generally usually a mistake.

Of course Blue defender Pan African resources could be undervalued as well as plenty of mining companies especially when you factor in the higher and heading higher gold price.