Member Info for Robjm66

"Assays of Abu Salal's sulphide mineralisation has returned multiple grade intervals of comparable to those at GMCO's Hawiah discovery, which already ranks in the top three of base metals projects in Saudi Arabia"

This is why Artar want kefi on board as they keep making discoveries.

Https://www.youtube.com/watch?v=dkfBPYLuGQg gold

https://www.mining.com/joint-venture/jv-article-msalabs-probes-global-expansion-after-swedish-mega-find/

Extract

“The next facility will be just on the other side of the Arabian Nubian shield at the Jabal Sayid mine, a joint venture by Saudi state mining company Ma’aden and Barrick.”

“The Arabian-Nubian Shield located primarily in Egypt and Saudi Arabia is highly prospective and underexplored,” Thomson said. “The increasing attention is timely as the shield’s geology can yield elements the world needs to decarbonize.”

https://www.zerohedge.com/news/2024-02-16/gold-2350-mitsubishi-reiterates-our-most-bullish-call-2024 gold

Https://www.africa-newsroom.com/press/africa-finance-corporation-afc-unveils-strategic-partnerships-to-boost-africas-mining-sector?lang=en

https://newbusinessethiopia.com/mining/afc-unveils-partnerships-to-boost-africas-mining-sector/ (same story with some related links)

AFC is the second bank involved with kefi.

Kind of kills the theory that AFC will not invest in mining projects and mining deals can only be done in countries that are very peaceful if you look at the countries on the list.

Looks like the tie up between kefi and the banks has triggered a major shift in gears of African banks investing into African mines.

“Speaking at the signing, AFC’s Chief Investment Officer Sameh Shenouda said: "While over 30% of the world’s minerals are in Africa, less than 5% of global development funding is invested in African mining projects. Recognizing the significant funding gap in the African mining sector, AFC is committed to pragmatic solutions and supporting the sector's growth, having invested about $1 billion across metals and critical minerals in several African countries. Through these strong partnerships with like-minded stakeholders, our goal is to open up new markets, promote a greener economy, and contribute to the overall development of African countries."

Plump I have the same information as everyone else we know who most of the consortium members are contractors local and national governments contractors kefi the only ones we do nor know are " local subsidiaries of multinational corporations who have been given Government permission to invest local currency and be repaid in hard currency, repayable in cash or equity at KEFI's election as from year 4 at then market prices;" and as their investment is a mechanism that enables them to repatriate profits they would otherwise not be able to and kefi does not have to repay them till the mine is churning out revenue its win win.

Plump somehow must have missed mining companies Rnsing about sub committees do you work for the civil service?

Actually the company is more sure now who pays for what..

“The Company can now report that all the other parties in the funding syndicate, have advised they will this month go to their respective committees to approve the proposed transaction.” To approve so kind of past the sub committee stage.

You should know all this already its not as if you did a disappearing trick like TCM.

"Magna Carter did she die in vain" think the houthis more interested in targeting ships that are a few miles away rather than a mine that has not been built yet.

Infamy Infamy..

Https://trendsnafrica.com/african-local-banks-urged-to-finance-mining-activities/

Wonder if this story happened as the consortium met at the conference. TK finance deal could be a prototype for other deals in Africa?

https://bnnbreaking.com/politics/saudi-arabias-industrial-and-mining-sectors-powering-economic-revitalization-and-sustainability (Saudi mining)

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2847-cse/kuya/155996-kuya-silver-participates-in-winning-bid-for-umm-hadid-silver-project-kingdom-of-saudi-arabia.html

https://stockhead.com.au/resources/like-nimble-gazelles-asx-juniors-are-waltzing-into-africas-virgin-territory-for-critical-minerals/ (Saudi/africa)

From first post in the thread "Maybe soil/sediment shallow sampling for gravimetric or heap leach trial testing? (metallurgical testworks)"

/views/73018/kefi-gold-copper-tulu-kapi-update-an-upcoming-financing-and-project-launch-catalysts-strong-buy

Https://investmentpolicy.unctad.org/investment-policy-monitor/measures/4494/saudi-arabia-offers-a-30-year-tax-relief-package-to-attract-regional-corporate-headquarters-#:~:text=On%205%20December%202023%2C%20the,international%20investment%20to%20the%20Kingdom. Saudis are actually giving money away. The sidf loans will eventfully have to be paid back out of the profits of the mine.

“The Jibal Qutman Definitive Feasibility Study (“DFS”) is evaluating the economic and technical feasibility for building a set of adjacent open-pit mines and a centrally sited Carbon-in-Leach (“CIL”) processing plant, to recover more than 500,000 ounces of gold, rather than the 169,000 ounces of gold originally envisaged in the 2015 Preliminary Economic Assessment (“PEA”).”(previous to recent discovery)

Biggest cost in mining is energy which is so cheap in Saudi other countries are starting to export their mineral to Saudi to be processed. Plus looking at a open pit Cil operation that will be low cost with the high possibility of other discoveries.

Kefi looking at an expanded operation as that will make more profits so will be easier to finance.

"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."

Stan Just pointed out that the sidf will cover 75 percent also Artar will cover the majority. Then there is the nature of the deposits in The JQ area which are low cost themselves. Harry has already said they had people swarming their booth at the recent Saudi conference. The only drawback is the mine will be bigger than originally envisaged due to a higher gold price and that's if you think a mine that will make a lot more money is a drawback. Vorsprung durch Technik 😉

Copper and Saudi

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

https://www.royalroadminerals.com/assets/documents/CORPORATE-PRESENTATION-2024-FEBRUARY.pdf

https://www.youtube.com/watch?v=2dJ_71J-Po0

Https://bnnbreaking.com/politics/saudi-arabia-at-a-crossroads-resource-nationalism-vs-international-partnerships-in-the-pgm-industry

https://www.bnnbloomberg.ca/modern-mills-holders-seeking-to-raise-314-million-in-saudi-ipo-1.2035127

Modern Mills is set to be the second company to launch an IPO in the kingdom this year, after drugmaker Avalon Pharma drew institutional investor orders worth 68.3 billion riyals for its 492 million-riyal listing.

The Persian Gulf has been a booming market for IPOs over the past two years, with high oil prices and increased international investor interest driving the positive sentiment even as share sales slumped globally.

https://www.zawya.com/en/markets/equities/saudi-arabias-modern-mills-sets-ipo-offer-price-could-raise-up-to-314mln-botzvrof

https://www.agbi.com/trade/2024/02/hundreds-of-companies-consider-saudi-arabia/

A survey of 660 companies described as high-growth and from more than 50 countries around the world found more than two thirds were considering expanding into Saudi Arabia.

https://www.youtube.com/watch?v=B7d88nJbycU background on Saudi mining sector not as dry as it sounds.

repost

https://www.cnbc.com/2024/01/10/saudi-arabia-nearly-doubles-estimate-for-the-value-of-its-mineral-resources-.html

A bit of background on the development loan mentioned by the company and the SIDF on its fiftieth birthday.

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

Saudi Industrial Development Fund provides loans for up to 75% of the capital cost of mine development at nominal interest rates;

https://www.argaam.com/en/article/articledetail/id/1704891?IRAccessToken=arriyadh

https://en.wikipedia.org/wiki/Saudi_Industrial_Development_Fund

The SIDF has supported over 4,000 projects over the last 50 years, with loans totaling more than SAR 180 billion. These projects have an investment value of around SAR 700 billion, according to Alnammari, who spoke on the sidelines of the fund's 50th anniversary.

Alnammari stressed that, following the launch of Vision 2030 and the National Industrial Development and Logistics Program (NIDLP), SIDF's capital developed and the statute changed to include the industry, energy, mining, and logistics sectors.

as well as Iron, logistics, and mining projects.

Https://www.kefi-goldandcopper.com/files/announcements/kefi-jibal-qutman-gold-update-30jan24-final.pdf

From Ham on Advfn kefi Thread

As you mentioned Asfingia (new find), I went to check Google Earth for a Jibal Qutman flyover.

Firstly: also for Saudi there was a very recent sat imagery update/upgrade (previous dated 2018).

Based on the latest press release, I believe that Asfingia is visible at the following coordinates:

20°22'59.04"N

43°24'28.00"E

But more interesting is the following spot: it looks like a modern Camp. This must be the “new” exploration headquarter:

20°20'20.03"N

43°24'59.10"E

A bit more puzzling for me is the ground surface in two areas east of the camp: the first one located 1km WSW, coordinates

20°20'6.71"N

43°25'34.34"E

The second one, much larger, located 1.7 km ENE, and developing to the North

20°20'13.83"N

43°25'55.47"E

They seem to be large surface testworks, made using a large blade-mounted machine (check the flat surface).

Maybe soil/sediment shallow sampling for gravimetric or heap leach trial testing? (metallurgical testworks)

And finally, maybe the most intriguing: it seems that they found a new, very big prospect. Check alignment between points

Start

20°26'51.38"N

43°25'56.02"E

End

20°27'11.88"N

43°26'32.02"E

Even if this seems off strike (from JQ), you will see an impressive set of "scratches", very similar to the previous ones, in a corridor 1.5 km long. Maybe Rob can help on that, but I don’t remember such thing was ever reported.

All those features were not visible in the historical imagery, which was less detailed.

Ham

Https://bnnbreaking.com/finance-nav/ethiopias-golden-opportunity-kefis-tulu-kapi-project-and-the-resilient-australian-market

Part two(interviewer) so what preparations are being done for full project launch?

(Harry) The key thing is to be on the ground with our teams engaging with the community..and that started a few weeks ago..during the same period there is the second step which is crossing I’s and dotting t’s..these things are administrative and given that everyone is willing to proceed there should not be any issues. The third thing is the domino effect of lead bank approval December second bank picks up its pen January (looks like second bank was simply slightly behind first bank) and main Equity holders pick up their pens February (suggests to me that second bank approval is a fait accompli that might just be rolled into approvals from all parties if it does not drop before that) so keeping that progress going so they all come together for a closing.

(Harry) The trigger was the new laws that the government brought in that will benefit every miner from now on. I know its frustrating for shareholders asking if that was announced in October why are we not in business already but giant banks giant multi nationals just takes time..but it is all happening.

Rough transcript my comments in brackets as normal.part one

(Interviewer) looks like good progress has been made after meeting the consortium at Indaba (mining conference) last week?

(Harry) ..all the stakeholders are everybody just want to get on with it now..

(Interviewer) So members of the funding syndicate are reporting back on the finance plan that has been put forward, take us through the finance plan and how its structured.

..in Ethiopia has nor been done before so laws of the land..had to be changed the highest priority was exchange controls and offshore accounts (effectively country changed its law to help the mining sector and kefi) been a journey but carried the syndicate with us who are familiar with the country and committed..development banks are willing to come to the country as are our local investors and contractors. The contractors are funding the mining fleet, the development banks are putting up a 190 million the (local?) government people putting up 40 million then local investors putting up lions share of the balance (subsidiaries of multi national corporations) they have been given special government permission to put there capital into us. So its mining project finance but it took a lot of work to get it to fit.

(Interviewer) you made the point that this is the first internationally financed mining project in Ethiopia so this is quite a milestone?

(Harry) Its huge its hard to convey the importance of this to the government and the country it been a rocky road but everyone is on board now. Ethiopia really does need hard currency the country was in the top ten growth countries for twenty years running but due to past conflict was damaged and now needs to get back on the development pathway with the help of the private sector and TK will be the largest exporter generator of the country.

Second tranche of warrants get triggered and that's what eight million? Think kefi will try to get that rather than do a raising though they might go for a cash injection by other methods like an extended credit line on the back of progress with their projects. After all with their recent discoveries in Saudi and JQ likely to be a lot bigger the company might now have other options https://www.kefi-goldandcopper.com/files/announcements/kefi-jibal-qutman-gold-update-30jan24-final.pdf