Member Info for SB_1964

Typically, investors and lenders will sign documentation in advance and that will be held by their lawyers (via an undertaking) until such time as all conditions preceded (CP’s) are satisfied and then the lawyers will complete.
Completion will not require an actual attendance of those who may not be able to.

As for the law firms, the majority of their fees flow from completion, so that answers that one.

not in your hurry .. agree with Bear, this is an investment for those who understand the assets, the geopolitical complexities/difficulties and the longer term investment nature and rewards/spin offs .. this is ALL about patience being needed over a LONG time frame. It’s NOT for the keyboard twitchers and this who lack the grit or capacity to do the time
frankly..

The jurisdictions are edgy, but the rewards are there for those who can sit and wait quietly. It does require an abundance of patience tho Fantasy

The assets are massive, and getting more so..

The geopolitics are moving towards ‘on-side..’

The backdrop is a commodity super cycle - for me that’s predominantly Copper, Gold and Uranium

Yeah I get it .. “this was supposed to happen, and it didn’t” … it’s not London Corporate, it’s east Africa and Saudi - just out of a civil war and re-inventing at pace out of oil respectively..

Seriously… get in the right head-space or (as Harry respectfully suggested) take your money somewhere else (and good luck with THAT right now..)

Kefi is another classic case of transferring wealth from the impatient to the patient..

The asset is the mineral asset and, unlike ‘crypto’ per say, it doesn’t mysteriously evaporate and leave no remote trace of its prior existence (other than a stain that’s hard to get rid of)

This is tangible and real. It’s not leaving or metastasising into some W4nked out Ponzi scheme, conjured up by some awkward kids with no real talent.

This is where true value resides, this is where sensible central banks are focused and acquiring at pace, this is the future of real worth for real people.

The elephant in the big room is missing this exact opportunity at this precise moment in time.

Imho

The dual listing will be a complete game changer. This will come on the back of a revised MRE and ever expanding assets across ever expanding licences… this will be simply massive - in a world where pretty much everything else won’t be.

It will be a very stark contrast next year.

Understand… well, I expect to see that happen Forrest. Thanks for the reply. I hope you’ll be on the right side of history with this.

Forrest

Considering where the company is right now, and the published timescales to definitive signing of documentation by the consortium for TKGM, that is a properly misguided and indeed misguiding post.

Perhaps give Bubba a shout and see if you can get back on the shrimp boat, or go for one of those 5,000 km solo runs. That would be more helpful to society.

Unless you have a huge short position here (wouldn’t that be fun) I fail to understand your motive? Very odd.

Fantasy

You create milestones for yourself …

“If it doesn’t happen by xxxx”

The world doesn’t jump to your time - it’s not particularly interested in what you bring.. which is not much at all

The reality lies in patience and dignity over time

Talking of patience;

Warren Buffet (I am ambivalent) describes the money exchanges as a mechanism to transfer wealth from the impatient to the patient

If he’s right - you’re ****ed mate

Harry is a passenger here now.. this is being driven to a conclusion by multiple sets of legal teams, who all have to concur with each other prior to completion, having exhausted a long list of conditions precedent. This is a tortuous process.

Important to stress whilst waiting;

1. Inflation is baked into the deal, re mine build costs

2. Ethiopia will not experience wage growth anything like a developed nation in the medium term, as such the project is more inflation proof than most others

3. Kefi are focused on two highly dynamic, emerging economies - over the next 3 years the pain will be felt most in first world, tech-laden economies, which will NOT REMOTELY be going gang busters

4. We will likely go into ‘23 with a USD$1900 gold price which may well level out next year at $2200 or better - the financial modelling and forecasts are predicated on a much, much lower number. The implications are therefore very considerable re upside

It would be helpful if the company re-published some forecasts based on a more likely gold price, as a comparison to what we see in each and every presentation.

Whilst I like the conservatism and commend the CFO, it would be helpful to be reminded of the huge upside associated with a more likely value for the underlying asset class.

IMHO

Yes Rob

Proven, considerable and ever increasing mineral assets across two jurisdictions in multiple locations..

Two separate joint ventures with Gov and 5A1 credit rated family office… it doesn’t get better than that to be fair.

If you want high risk, spend your money on crypto, aka vapour.

Donkey.. you are one.

Smellyben

Exactly.
There has been so much wasted narrative & emotion around this.
Happy to sit quietly and wait for pay day.

“Will there be a placing soon?”
NO
“Harry, are you in London to arrange a placing?”
NO

Next stop - financial close - then we rise - ENDS

Thanks Rob..

I see all the R Soles are out this morning, spouting the usual.

Agreed Bear.. Strongly believe that this is a Done Deal, as ‘no way’ a government uses you as an international case study otherwise…

“assuming one is needed”… and there you have it.

Lots of idiots cropping up with ridiculous call signs - Mark-653929844487 - haven’t done the research and just drop dumb stuff rather than “do the research”

It’s ALL there.. read the RNS stuff, watch the YouTube vids, get informed… don’t just drop idiot bombs and expect to get away with it

Agreed Bear… good summary

Rob

5p in FY26 is comedy.

It’ll be c. 5p when the market understands the ramifications of full financing for Tulu Kapi (TPGM) and the flow of liquidity into our Saudi projects with ARTAR.

I have often read Edison reviews and thought of them as “the stuff of nonsense” borne from a classroom of no real world experience.

Tintin 34 thanks for sharing.

I like the detailed “sources & uses” reference, because this will evidence who has put in what.

I maintain that there will be some names in the mix here that will further embolden the deal dynamics.

All parties will push very hard to get this done within the confines of 2022.
Nobody wants to go into the silly season with a 95% done deal… period.

GLA

I prefer it this way Forrest, because it's a progressive realisation of a pre determined goal.. put another way - more opportunities for incremental share price growth.. staggered

It's like walking down a corridor, shutting all the doors as you go... then there's only one door left at the end - and you go through that one and you're there...

I get what you're saying, but I see the upside in this process

"Contractors, investors and lenders" have all agreed the financing and "definitive documentation" is next and "to be signed as soon as possible" - this will be a fantastic end to 2022.

Bring it on.....

It’s a big deal, in more ways than just a quantum of funds across debt & equity - and that is complex enough..

Add to that, public and private funding and (literally) a boat full of lawyers, all wanting to justify their fees via a seemingly never ending to & fro of docs….

In a precious life I have funded many similar deals, and in many ways it is always a long pregnancy, a difficult birth and a massive **** up - in that order…

We just have to do the time

Yes Bear… any CEO of a discovery minerals business who consistently takes shares in lieu of cash assures me that any dilution along the way is absolutely necessary and in the shareholders best interests…

That said, although I have every faith in HAA, he has caused me to find new levels of both frustration and patience that I never knew I possessed.

Accepting earlier, valid comments on this board around “a few days to get all party consortium approval for the RNS content” I think we are now right in the cross-hairs for some company making news….

Harry.. please make this D (Delivery) Day….