Member Info for SB_1964

Rob.. I’ve been in Kefi for 9 years. Please don’t give me that ‘one or two years down the track’ nonsense, it’s insulting frankly.

You are either on the Kefi payroll, or need meds for serious delusional issues.

Rob..

Kefi (Harry) also said we had "access to short term debt" to negate the requirement for further dilution - via yet another placing.

Then we get yet another sizeable placing - radio silence - another practically identical presentation - another investor bun fight coimng up, with likely more "it's just about to happen" total ballox...

My firm belief was that we were weeks away from bank sign off, and we were told that "if" we needed very short term funding, then that would be via a very short term debt piece. That made commercial sense.

All total and absolute HAA Ballox yet again, as it turns out.

I simply DO NOT trust this space hopper one inch now.

Was it Einstein who commented that to make the same mistake repeatedly was madness?

I repeatedly listen to and buy into this tw4t, and therefore I must be mad.

I'm mad in the other sense now. Spitting blood mad actually..

Heavily invested (10MM + shares) and very disturbed by the significant disparity between narrative, plan and outcome.

Time for a new presentation.. with 4 fresh words in it.

No done deal tho.

As if by magic - I rest my case

Rob

You must either be on the payroll, or devoid of a good job or hobby. Either way, thanks for keeping this board informed.

Kefi & Harry need to DELIVER this. That is it.

No more bla, bla, bla… and no more repeating the same old diatribe time and time and time and time again.

Wow, a new 30 page presentation with four fresh words in it.. great.

The banking syndicate process is highly odd, given the comments around relying on the same DD. Why such a huge underwriting gap between them? Thats ballox frankly.

Even Walter Mitty would have got bored and gone home by now. It’s getting very silly.

Harry.. for the love of God, stop waffling, hypothesising, procrastinating and generally regurgitating the same old, same old tired story and GET THE DEAL DONE ….

Let’s lose the muppet show idiocy and get some real-world, commercial, deal doing, momentum in play before we all die..

FFS HONESTLY

Grateful thanks for nothing fool…

All that matters (more) is that you don’t feature again.

Rain..

If you spent some time reading through the RNS library for Kefi, you would have a far better grasp of this, originating from your own efforts.

Research Robert Friedland and Ivanhoe Mines for a more accurate understanding.

I Have always felt that Ivanhoe would represent a good partner in the region .. or a buyer of strategic assets.

Typically the lead bank (called ‘lead’ for a reason) underwrites the deal and provides the total funding at commencement.

The second bank always relies on the underwriting of the lead bank. I’ve never known them to go on an independent credit journey separately and afterwards…

In my experience, the lead bank “sells down” to the second bank/ lender within an agreed timeframe, typically 3-6 months..

This is a new one on me.. it must be “Africa Baby” because this nonsense wouldn’t happen in a developed financial market…

It’s painfully amateurish and disconcerting

I’m heavily invested and fully believe this will happen.

That aside - and listening to the latest proactive interview.. it is 100%… “Rewind-Play “ …. As with all the prior and similar interviews..

Harry’s credibility left the building a long time ago in fairness he is the ultimate master of ‘over promise & under deliver’

He should absolutely take the kudos when this happens, and then have the good grace to find someone genuinely believable to drive this forward.

I have run out of patience with the monotone diatribe that always falls way short.

Bring in the new

Highly unusual for a ‘second’ bank to have a different credit outcome to the first. Highly - as I’m never seen it.

They rely upon the same DD and will enter the deal via a sell-down sometime later, so their monies don’t typically go into play at the beginning.

Lots of over-hypothesising going on here.

This is what it is, and I don’t think it requires that much contrarian narrative.

Just a little more patience.. and hope that HAA’s incessant comments around “access to short term debt” are indeed valid.

I'm a little surprised that the time window for completion has gone out by a further

Thanks Bear.. although there’s nothing novel here.

It is the same old flannel from HAA.

Next up needs to be a Done Deal. That’s it frankly.

Agreed Rob, thanks.

It’ll be a blended rate, with equity in the mix too, so very hard to distil that down to a fixed (paf) rate/cost of funds..

Probably senior & junior (mezz) debt in there, Senior being secured with a’first’ charge, and therefore less punitive. Junior is expensive.

You’d think they’d want an overall return on investment (ROI) of high single digits possibly, as this is not a vanilla, low risk deal with an established business throwing off recurring revenue.

Whatever it is, with a high gold price and low fixed operating costs, they will accelerate repayment in the early years of production and then it’s all gravy and a decent dividend distribution.

Purely IMHO.. and I’m retired now, and not on point.

Mr Blue Crypto

“Credit approval will be predicated on assumption”

No it won’t.

Credit is a process where risk is identified, understood, managed and mitigated to a point where it is worth lending into.

… and yes, on balance and with similar terms, I would.

This seems legit as 'lead bank' is mentioned.

All 'club' deals (where you have a bank consortium effectively) involve a primary lender, who will take the lead, agree the full facility at credit, and initially provide the full funding.

Thereafter, at an agreed future time (and typically within say 3 months) the lead bank will then "sell down" a pre-agreed % of the total debt piece, to de-risk and bring in the other senior lender. Terms typically identical.

This feels legit.

There are some numpties on here, honestly.. and about as amusing as diarrhoea.

Probably never managed anything larger than a bag of salt & vinegar crisps.

Intel appreciated Rob.. you are my ‘go to shortcut’ for the stuff I simply don’t have time to research myself re Kefi and it’s operational jurisdictions etc.

Appreciated.