Member Info for Stebo

i first bought kefi shares in 2020, and i have paid everything from over 2p to under 0.5p.

i'm guessing though your trying to make the same old regurgitates point of "us lth know that this is all a scam and harry's a ****, and you'll eventually learn your lesson, etc, etc". well actually i did learn my lesson, and i actually made a profit through '22 to '24 trading the pre-raise spikes. at the end of '24 i got caught with that raise, but i have been topping up enough ever since that my average is 0.6p

being a lth, who was too emotional to sell at a loss, and instead got further burned over and over again, is not the brag you think it is. perhaps if you were wrong for all those years, maybe your emotions and confirmation bias is also clouding your judgement not?

He wants KEFI to do well, and if KEFI does well PIs do well.

That attitude of Harry just existing to screw over PIs is nonsense pedalled by idiots. It's a notion that drove the sp down into the gutter, and therefore I am thankful because I fully took advantage of it, but sentiment is changing an people are slowly realising that Harry had done it.

You keep running about with your chip on your shoulder looking like an idiot though.

Stringer, in what way does delays enrich Adams? He doesn't stop picking up a salary once TK is up and running!

Bonkers, you clearly form your views based solely on your own notions and prerogative, which you don't even seem to understand yourself as your outlook sways back and forth over time. Therefore there is no point in debating with you, because you pay no heed to logic or quantifiable value.

FWIW we haven't even seen the "post-ratification" price, because a huge seller has been exiting KEFI which has gave a short-term deflated share-price. Perhaps the current re-rate is KEFI finally starting to move toward it's actual "de-risked, post-ratification valuation".

Lets see where we're at this time next week, or possibly even on Friday. Although, you're gone on 1p, so you'll maybe not even be here by then :-)

stringer, your 1.5p is just something you have plucked out of your ****. actually if you take very conservative view on the forecast price of gold, the reserves, factor in time, a disparity between valuation and mcap, and a reasonable amount of risk, the sp should more reasonably be in the region of 5p-6p after sign-off. it might take a bit of time to get there, or it might just rerate over-night.

the only reason why the sp could stall at 1.5p is that completely irrational attitudes like yours (and others who seem to think harry controls the sp and will make it go to 1.5p to get a bonus) seem to be prevalent, but that's a short-term speed-bump imo

Sharezy, I get that..... but all things being equal I would expect a dividend of circa 1p per share, at the end of Y1. If I was making an investment case on it, I would be more conservative and say 0.8p from Y2.

Stringer01, when you post hyperbole like that, you make yourself look really stupid to people who actually know what they're talking about. The finance deal at Tulu Kapi is a phenomenal deal for shareholders, and to go from purchase as a small-cap explorer, to commencing fully financed construction (giving away basically zero equity, beyond getting EG on board), in only ten years is really impressive.

Sharezy, I see no reason why they'd wait until Y3. If everything is up and running well by the end of Y1, the next number of years will be very predicatable. Only reason I can think is that they might plough profit into exploration and development of underground mine, but there's only so much that the processing plant can process anyway, so I'm not sure they'd actually start development on that until down the line.

The A4 is the main road to Addis Ababa, the B43 joins it at Mekenejo. The new road joins the B53 just East of Kelleyi.

Dsrt2012..... it's a real shame you can't post photos in LSE ;-)

Bonkers, do you even understand that link you posted?

What is the point that you are even trying to make?

Apologies, B43, not B53. The road from Guliso to Inango.

Dsrt2012 - I'm reliably (more reliably than you it seems) told that the new access road is now almost complete. It's a new 12km long road, running North from Tulu Kapi, to access the B53, just East of Kelleyii, parallel to the existing road, but about 3km to the east of it.

Bonkers, in true form you ask a question, and get a range of educated and fact-based answers, and then you respond with "well I think", followed by nonsense based on nothing buy your own negativity. There is no reason why there should be more shares in existence (the $5m your presumably talking about is a TKGM liability, not a KEFI liability), and why would there not be dividend payments at the end of Y1, when KEFI are bringing in safe and predictable profit? Your response is completely irrational and illogical, but you still don't let that stop you from posting it lol

Feels like the train is getting ready to leave the station today. Share Price starting to heat up a bit today!

Final chance for our resident dooms-day-heralders to have a change of heart and get on-board before the sp starts to get away from them!

Crazytowner, its a moot point anyway. As you say, when we're bringing in $300m-$400m per year, the loans all become a bit less relevant. It is mad just how profitable KEFI is about to become!

As you mentioned, I expect that this initial development capital will have been at steep interest rates, and we will seek to refinance at the earliest opportunity. Something to bare in mind though, is that these loans are to TKGM and not to KEFI PLC. So other, non TKGM development can not be financed from these loans. Therefore potentially KEFI will extract more profit from TKGM for other KEFI business activities, instead of repaying the debt quickly.

Who knows, but also who really cares lol

Dsrt2012, why would they not pay off the debt quickly, and accrue more interest? And if they don't pay off the debt quickly, then that means more profit, which means bigger dividends

In regard to the finance:

$240m - repaid in Y1

$70m - repaid on a per-t basis to contractor (inc in AISC)

$20m - doesn't have to be repaid - EG get equity instead

$23m - BCM ERN repaid in shares or cash post-production (Y1)

$27m - Ethioprefs that don't mature until Y8

Bonkers, conservatively $300m profit pa (will be much more, even just at todays price of gold) and 8b shares.

Even if KEFI only were to pay 20% (could be 50%) of that as dividends (focusing the rest on growth), that would be a dividend value equal to our current share price.

That is bonkers.

Share price on the move upwards?

Should have also mentioned the barking dogs as a highlight.

KEFI has went from the barking dog, trying to get the other syndicate members to move, and that has now changed to the banks, government and other syndicate members now all barking at KEFI to get this thing done.

Sounds to me like there won't be any delays for the sake of ceremony, this will be getting signed off the day that the documents and final prices are ready, which could be any day. We were told that the repricing would take about a month, but they didn't want to start that process until they new ratification would be in hand. Likely they pulled the trigger on that on 1st May, when the council of ministers approved ratification. Tomorrow will be three weeks since then.

The two biggest nuggets for me is that the $20m Ethiopian government investment is all sorted and already flowing, and that the institutional investors have opened their files and are in conversation with KEFI. The fact that our sp is still half a penny is a gift that surely can't last much longer.