Member Info for SB_1964

Precisely as I see it Simms… makes eminent sense

Welcome back Smelly B.. maybe sit on your hands for a bit maybe

GLA

Thanks Rob

“Kefi or somebody else will build this mine..”
A very interesting observation, and one I concur with

Gold is ascending and this is an ‘oven ready’ project with a senior, senior team - I’ve said it before (and you’ve not concurred) this is a very solid target for a major

We will see….

Dyslexic episode (lol) - you get the gist I hope ;-)

“It will shortly be seen to be have all worthwhile..”

You say that if;

a.) you know that financial / project close is inbound heavy

b.) you are a delusional maniac

I’m leaning towards a.) and very happy to stick & hold

GLA

All lovely, right up until private equity & commercial bank guys turn up - then “it’ll happen when we get there” goes out the window with the romantic notions behind it

If you want the money and the 21st century mining industry, it comes with the conditionality money brings .. and it’s not romantic in the slightest

Hi Fantasy

The thing that you and I probably agree upon is the utterly ridiculous timescale provided for financial close of “end of 2022” - that was brainless comedy (without the humour) subsequently proven by just how much has been done since Q4-22 and we’re STILL not quite there…

I can partly understand/excuse HAA for not being fully conversant with the timelines and process associated with a complex financing deal of this size, and nature. He is the CEO and has a wider brief.

However, for the CFO to be that far off the mental pace is astonishing and simply derisory. He should be replaced, ideally by a capable individual with considerably more related skill sets, and the ability to work effectively with equity sponsor groups and banks (who do know the timescales etc)

To your note, and by way of reply;

The presentation actually states “”Equity funds flow to Project” as Q2-3 2023

That is not what will initially catalyse this share price, it is a subsequent effect of the cause, as is debt funding flowing later still.. sometime in 2024 (when it’s needed)

The cause (IMHO and based on experience) is the nature of this deal going from ‘conditional’ to ‘unconditional’.. which begs the question, when is this?

‘Final lender approval’ is unconditional in and of itself for the major debt piece (once all conditions are satisfied - being only subject thereafter to ongoing performance covenants and conditions subsequent - which are post completion and funds drawdown in any event)

For me, the the signing of definitive agreements puts this whole deal into “DONE” status, as all parties are “committed” and that is when the market will really get behind this..

The flow of funds is a subsequent mechanism, akin to putting oil on the cogs..

So.. my timeline stands, accepting that this deal has many moving parts, and it is a country first, so some slack should be given.

Where we are now, compared to EO22 is really very encouraging, and points to real bipartisan momentum across Gov and private stakeholders.

GLA

Simms - 100% agree… I believe we will have a signed final umbrella agreement this month, which will catalyse the definitive documents for May

All done by June, and a massive re rate

GLA

Sorry “final umbrella agreement” & “ no further amendments”

The final I’m tells agreement is all CP’s satisfied in my book, so no for their amendments, additions etc.

This can then be used by the lawyers as a template to draft final docs between the various parties

The I’m fella agreement is a working document, until
It’s not ie it becomes final

Bonkers - Harry’s commentary at the bottom specifically references this month

If you read it properly there are two key developments across;

1.) remaining CP’s being hurried through by banks and EG, working together to expedite the last few o/s matters. That’s very encouraging

2.) Final Umbrella Agreement to be signed later THIS month. That’s very encouraging

There is no ‘prevention’… it is an evolving process geared to a financial completion, which is being worked through progressively..:

Suggest you do some background research to become more conversant with this opportunity, rather than sit back and ask lame questions - no offence

Good spot Rob… highly unlikely they mess with the conditionality of the deal at the last minute, especially with the EG as a shareholder..

This will get done soon now… not particularly interested in those with other ideas, as they probably have other agendas

This secondary peace process evidences a strong momentum of change which is really encouraging..
as Rob indicated, this helps Kefi in Ethiopia on a number of levels.. not least financial cohesion and security (both in terms of an easier working environment, which bleeds into a reduced related ongoing overhead going forward)

Over the past few days this board has read like the Beano.. mostly because of short term traders/shorters attempting to sway the thoughts/actions of decent people who have chosen to invest on a longer term basis for the betterment of themselves and their loved ones.

These are light weight **** heads… nothing more..

Ignore, laugh a little, do nothing and wait for the huge result we all know is inbound.

GL to serious, long term investors ….

HAA has a bigger stake holding than all of us, and some…. Dilution will be post TKGM close, if at all, and very measured… he if all people will not want this to be material…

with VERY different prevailing circumstances indeed tho’ ElDave - this is as nailed on as you get things, without nailing them on - but when we do, in a few weeks time….. hold on

Great post Simms45 and 100% bang on…

On the other channel there is a complete numpty who flies by the name of Aviator…

When he waxed lyrical about 5hitcoin I shorted it, and every time he put Kefi down, I bought loads more..

I must buy him a pint next time I’m in IdiotsVille

This is a good update in a few subtle respects;

1. Both senior lenders (project banks) have been provided with “certain specific protections & benefits” from the ETH GOV.

These would be fundamental CP’s and the satisfaction thereof tells me that the banks will now be good to go… and the final credit discussions will be a damn sight shorter and easier on the back of these ‘reassurances’…

We can’t be sure what these are, but they will likely be focused around deeds of priority, support re covenant breaches, potential default scenarios etc - probably also certain assurances around security / they will be ‘material’ and will give the lenders comfort.

2. “Definitive agreements either complete or advancing well..” this is progress

3. The quarterly report being circulated 9 days prior to the end of the quarter is in my view quite significant, otherwise why do it?

I still believe this will be closing out c. mid April .. and there will be material updates along the way to get our share price moving up with increasing momentum.

‘Big news coming’ is written all over this….

All IMHO and GL to those who, like me have had their patience tested severely over many years.

fjones - do you have an interpreter?