Member Info for SB_1964

Thanks Caterham 7.. that makes a lot of sense.

Addis is 3 hours east/ahead of the UK.

If this gets signed off today, I don't think they'll want to (or be able to) wait a few days to let the world know.

Intraday is my sense on this.

If it were me, I'd have the RNS already drafted and ready to go once the syndicate have signed.

No way that news gets sat on for 72 hours IMHO!!!!

GLA

Thanks Olmsey

Can somebody please show me the “15th November” specific date narrative for final sign off.

I read it as c. Mid November (which has some ‘give & take’ built in)

I’m happy to get all excited.. but only if you prove it

Amen brother ..

We have the finance.. just now need the final (binding) docs signed, and a forensic understanding of the stakeholder mix/demographic - this is very important and will lend weight to a material re-rate if the right names are in the mix (which I suspect is the case)

A burgeoning gold price meanwhile is adding to the stars alignment

Doesn't matter, because double from here is plain wrong.

It's 4x imho

Good note Simms45

To your point around an improving gold price, the World Gold Council has just reported the following;

1.) Central banks bought almost 400 tons of gold in the last quarter, the most on record and 300% higher than the last year.

2.) As at the end of the last quarter, YTD gold purchased by central banks was 674 tons, more than in any other year since 1967.

I think we can make an educated assumption that the gold price will indeed rise going into the year end and further going into 2023, which is co-terminus in respect of our timing for closing out Tulu Kapi.

It appears that our stars are aligning.

Provided we close out Tulu Kapi (with all that entails re prior exploration expenditure hitting the balance sheet and surety provided for future KSA projects coming on stream etc) then I don’t see the KEFI share price being much under 4 pence.

Yes… immediate cessation of all hostilities, sustained mutual disarmament process and resumption of humanitarian aid etc… this is a really great result for the country.. timing couldn’t be better for us also..

Thanks again Rob

That is very strong news for Ethiopia as a whole, and helpfully.. it is fabulous timing re Tulu Kapi launch

Thanks Rob

I located the interview on YouTube and watched it through.

Lord Ashbourne looks like the lead guitarist from ZZ Top, in a suit purchased rom Oxfam...

That said, the content of the interview was excellent and just re-confirmed everything I know to be in play currently.

Of particular interest to me was confirmation that we (shareholders) will finally get to see/understand a granular overview of the funding consortium and deal structure.

I believe there will be some significant names in there, which will add to the depth of quality being assembled in/around this deal.

It’ll be 1.689 before we know it… and then double that

Totally normal for these deals to be agonising as they get close to completing. So
Many moving parts and conditionality to satisfy.

However, it will get over the line, and when it does .. we are off.

In the words of Metallica “nothing else matters”

Ps: sorry for the typo’s - sunset and two Chardonnay’s in…….

Thanks Rob

Saudi listing in ‘23 a certainty I believe… and that’s when we’ll ready see the MCap in move..

Sure, it’ll move up nicely when we get project/financial close for Tulu Kapi, as that unlocks more than just itself….

But - the big step up in stakeholder value creation will be listing on the KSA exchange

IMHO ;-)

ElDave…

It will. Considerably after in terms of the debt piece.

Hi Rob

We know that Ethiopia is having its first ever Mining Expo in AA 10-12 November.

If I were a betting man (and let’s face it, I’ve bought a huge amount of Kefi stock, so I must be) I’d be seeing this as a potential platform from which to light the touch paper on Tulu Kapi…

Perhaps

Yep.. loads of lawyers in the mix, as all parties are represented.

The ‘legals’ will likely have been created (as a base document) by the lawyers for the Senior Lenders (the bank consortium) as they are “senior secured”

Normally, one bank is ‘lead bank’ and takes some form of control, typically ‘selling down’ a % of the overall senior debt to the second bank, after close and according to pre agreed terms. This is referred to as a club deal.

It is then for all the equity sponsors to get comfortable with the terms/conditionality/covenants/priorities and then sign.

Close happens when all CP’s are satisfied and all parties are ready.

There will be further conditions subsequent, albeit these don’t hold up close, which is what we are focused upon here.

Rob

There will be some sort of Master Finance Agreement (MFA) in play, and everyone has to agree with all of it!!

Lots of moving parts, and always painful & stressful the nearer to completion.

Then it’s done.

I’ve spent nearly 35 yrs on deals like this.

I find it completely staggering that some people here think (after all this time and effort, over literally 10 yrs +) that hard-wiring additional deal costs into the senior debt/equity structure, and waiting 2 more weeks (is that all???) …. Is somehow a show of failure or weakness..

We have some total idiots on here.