Member Info for sharezy

“I expect ARTAR to buy KEFI out for peanuts in the next 18 months - why wouldn’t they?”

Because we would take our proverbial football home with us and they would be left without a technical partner, which would be a huge and costly set back, I expect.

Sounds like someone is sidelined and hopes it doesn’t take off (like it’s going to…)

Thanks Rob - think he puts it well. It’s a WIP. This is exactly why I’m not obsessing over the final details of the deal…

We know there’s a bit of funding left over once the banks are sorted outside of EG.

Option 1: Buy well below NAV, wait, no major unforeseen events, do very well…

Option 2: Wait until all the details are known all nailed down and finance derisked, risk (probably) paying more than current sp (or get a steal!)

Option 3: Don’t invest, not for me.

I’ve taken option 1. Happy with that assuming I see a good return.

Majority partner in gold mine? Yeah I’ll take that… %? 🤷🏻‍♂️

Hi Rob, government % is 25%, this would be expected post-deal…

EL - lol - not looking forward to a dilutive event.

But fully expected and built into projections.

Half a BILLION valuation on production.

Gap will close. Matter of time.

Going to hold and wait.

It’s a fair point.

We all have the same information here though..

“Shocking”, “Incompetent”, “disastrous”, sounds like you maybe shouldn’t buy back in if you’re sitting that side of the fence…

Have a good weekend.

Maybe ask the company and let us know… 😂

Staying realistic, yes there’s a real situation in which we lose 100% of our stake in Saudi.

That outcome isn’t expected, but let’s not have rose tinted glasses.

But also don’t pontificate over potential outcomes without knowing enough to do so.

I’d keep my cards close to my chest on ongoing negotiations too…

Your answer misses the point, but I suspect deliberately so…

We’re in no position to demand anything. But 25% of a large pot is very much worth having, and keeping our partner happy will be a good path forward.

It’s gone - yes would love to have kept it - would love to still be at 40% but hey let’s be realistic…

Wow that was a lot of daft comments.

We’re waiting on confirmation of credit from the second and final bank within weeks.

We’re waiting on news from Saudi about another development milestone.

Funding sounds like it’s all coming from in country for Saudi and is covered by a modest interim facility for Ethiopia pre funding so PLC dilution looking unlikely.

The projects are hugely profitable (value of 15-30x today’s prices) and finally ready to progress after many years of delays.

Followed by more potential projects after this in both jurisdictions which will solidify status as a mid tier miner.

But

“The finance isn’t done… “

“There are costs being racked up”

“SP is not spiking up now”

“Why isn’t it done, I don’t get it”

Circular conversation… thank goodness for Rob’s (and a handful of other’s) interjections for some more interesting content…

Good grief there’s still risk - that’s the whole point of investing at a stage where the MC is low…

The first raise was done at £0.51 pre consolidation.

I think it’ll be hard to reach that again now - but there’s also been many opportunities to average down since then.

Including now.

I’ll not bang on any more - time will tell.

Last purchase was @ 0.53 and expect to make money here.

Good luck to all…

Focus on the MC (low)& NPV (many multiples higher).

Then wait for sign off.

I saw this and thought it was a shame - Ma’aden were bigged up as the Saudi partner for mining at the recent Future Mining conference.

HAA made an excellent point yesterday - that we’ve been in country for 15 years and been able to cherry pick exploration targets.

Smart.

Just like keeping the lights on all those years to get to this point…

In reply to original comment.

This board is a nightmare to discuss on…

No use if you’re a vegan…

Or if you’re commenting on a financial market tbh.

@ameen 1850..

But we’re splitting hairs…

Cost is still down around $1200.

TK was always designed as a “Starter Project”, easy and cheap to extract and raise funds for other projects…

Over the short term, the stock market is a voting machine.

Over the long term, it is a weighing machine.

What he said was that there’s some lithium being fought over so they slipped in and took a licence next door for an uncontested yet highly prospective area.

Which they would allow someone to come in on a JV at some

point to do the mining, like Saudi roles reversed…

Sounds smart… like it…

Makes a lot of sense.

The funding structure is

PLC -> KEFI ETHIOPIA -> TKGM

So we need to consider what we own… it is the TKGM which is under discussion here.. 25% is owned by the government, split between national and local entities… the finding provides 95% of the required capital, and the remaining capital needs to come from in country - so giving up equity to secure this is one way to fund it - at the TKGM level.

Once the funding is secured from the banks then the deal can be done for the last bit - it sounded from what was said previously that there is money trapped in country due to capital controls and also the banks might take this equity portion up as well as their loans.

It was discussed as being “convertible loans” in the past, but could be direct equity instead - until it’s agreed, it’s up in the air.

Were a majority SH regardless - and we must trust the team to get the best deal they can…

There’s room for negotiation to seal the deal… would still be majority shareholding… or nothing… I know which I’d prefer…

This is an out and out lie.

Bizarre.

Not a bad message to sign off with.

All coming together.

Market will follow, once deal is done and it all sinks in.