Member Info for Stebo

Burgeseb, feel free to tell me how many shares you think KEFI might issue, and at what price and I can plug them into the calculations for you if you like. KEFI have significantly reduced their burn rate, and even at the previous burn rate they're sitting pretty into Aug, without touching the £4m loan that they have access to.

Ballsy strategy to sit on the side line waiting for a raise in Aug (post sign-off) and hoping that it is less than 0.7p lol

Burgeseb, KEFI have not brought in any positive news. Despite your conspiracy theories, KEFI does not control the Ethiopian Government, not the international price of gold lol

Fantasy, you mean like Lycopodium, who will be the ones building and running TKGM.

50% discount, for the man who has made this all happen and still managed to hold onto 85% equity, is a bit silly..... but it is still 8.5p post signing (rising to 10.6p as we get to production), and 4.25p pre-signing (ie now), based on only a 50:50 risk of it all still falling apart in the 11th hour.

No worries Serendipity..

Good excuse to post the calcs again. Very open to any criticism or critique on the assumptions and numbers. Note that imo this us uber conservative, and not at all speculative. Personally I expect a much larger upside, but this is my "low" calcs which I base investment decisions on....

....Take 1.7moz (very likely to end up 3moz+, as per latest DFS expecting another 1moz in under-ground mine).

Take todays price of gold (again looking likely to rise over the life of the mine) of $3,300 (already nearly $3,400 today!)

Take an AISC of circa $1,000 (again likely to be less than this, keeping debt repayment separate).

1.7moz @ ($3,300 - $1,000) = $3.91b

less the finance liability of $300m (EG's $20m becomes 20% equity) = $3.61b

KEFI will hold minimum of 80% (possibly 85%) = $2.888b for KEFI = £2.18b

There are 8b shares in issue, but if we divide that by 8.25b to be conservative = 26.4p per share

Add in a factor of say 10% for time (which will obviously decrease as we get to production) = 23.8p

Add in a risk allowance for jurisdiction, of say 20% (very conservative - 1 in 5 of it going tits up - unlikely) = 19p

Add in a general allowance for sp not always matching NPV of say another 10% = 17.1p

As you can see, it is talk of "I can see this getting to 2p / 5p / etc" which is stupid and based on nothing other than sentiment, lack of experience and short-sightedness.

If we were to say that, following ratification, there is still only a 50:50 chance of Tulu Kapi happening, then a sp of anything less than 8.5p is theoretically still very cheap, even before the definitive documentation is actually signed off. After that anything less than 15p-17p is cheap.

This is also completely disregarding GMCO and our other licenses, etc., and also the fact that investing in miners is speculative - we typically pay more than NPV on the gamble that KEFI are very likely to find significantly more gold - it's literally their business model.

Call it ramping, stupid, crazy, etc. if you like, but if you are going to say that I am wrong, at least post your valuation calculations to show me how KEFI is only worth 2p (£165m!!!)

Buried treasure….. those mug punters are up 40% in last two trading days, and likely up x00% in the next few days.

Try harder mate, or just give up.

Paul, we’ve 85% of a multi-billion dollar resource, plus our other assets. Our mcap currently sits circa £50m.

Regardless of having 8b shares in issue, our sp is currently less than a penny. A blind man on a galloping horse can see that this is multi-multi-bagging from here in the very short-term.

Regards the PTSD that all KEFI LTH have regarding raises, they’re good for cash-flow until after the summer, and that’s before dipping into finance (the easily secured a £4m loan previously when they weren’t in todays great position), or considering selling GMCO.

A raise anytime now would be absolutely prosperous timing, isn’t required, and is nothing short of fearmongering on here imo. Why would an MD raise now, when they’ve access to finance and fully expecting a have re-rate (10x - 20x) in the coming months?

I assume that once we’ve passed the 0.7p speed-bump, then next resistance will be about 1p? Will we get through that churn, from the quick-buck-traders, by today I wonder? Will be nice to finally be talking in whole pennies again :-)

Ya ragin Funki (or should that be Bonkie)?? lol

Bonkers are you just trying to disrupt and antagonise today as some kind of distraction from todays RNS?

Nice to see last weeks news RNS’d, so we’ll expect another RNS when HoPR ratify the proclamation.

FWIW, in case anybody is concerned that it might not get ratified by HoPR, the Prosperity Party (The Ethiopian Government ruling party), who have already unanimously approved this proclamation, have a 98% majority within the HoPR. Baring an act of God, between now and the vote, there is zero chance that ratification of AFC is not now sorted.

Serendipity, I don’t think I ever mentioned a future gold price of $7,000 in sp predictions. If I did it was a typo. I typically base current predictions on circa $3,000/oz.

I remember the GGP boards and telegram thinking that holding past 2p was crazy, advising people that they should de-risk, etc. etc. I also remember others who did the sums, believed the calculations, and held out to 20p and cleared their mortgages, etc.

Bonkers "super-inflated"

No twisted knickers here, but it is nice to see you chatting about KEFI and it's sp, rather than who has recently insulted your feelings on here. Feel free to show me one metric of that calculation that is anyway inflated. It is very conservative.

GGP is over in terms of a high-risk : high-reward investment.

It has now been de-risked and is in for a slow burn that will likely be a leveraged play on the price of gold. Safer place for an investment than KEFI, but I'd now expect it to double every 10 years as opposed to with KEFI which could easily 1,000% in ten weeks.

Serendipidity - "Stupid inflated predictions s are as bad as posting rocket and diamond emojis"

Actually I would say that stupid low predictions, based on nothing more than our completely irrelevant sp are pointless and stupid.

Take 1.7moz (very likely to end up 3moz+, as per latest DFS expecting another 1moz in under-ground mine).

Take todays price of gold (again looking likely to rise over the life of the mine)

Take an AISC of circa $1,000 (again likely to be less than this, keeping debt repayment separate).

1.7moz @ ($3,300 - $1,000) = $3.91b

less the finance liability of $300m (EG's $20m becomes 20% equity) = $3.61b

KEFI will hold minimum of 80% (possibly 85%) = $2.888b for KEFI = £2.18b

There are 8b shares in issue, but if we divide that by 8.25b to be conservative = 26.4p per share

Add in a factor of say 10% for time (which will obviously decrease as we get to production) = 23.8p

Add in a risk allowance for jurisdiction, of say 20% (very conservative - 1 in 5 of it going tits up) = 19p

Add in a general allowance for sp not always matching NPV of say another 10% = 17.1p

As you can see, it is talk of "I can see this getting to 2p / 5p / etc" which is stupid and based on nothing other than sentiment, lack of experience and short-sightedness.

If we were to say that, following ratification, there is still only a 50:50 chance of Tulu Kapi happening, then a sp of anything less than 8.5p is theoretically cheap, even before the definitive documentation is signed off.

This is also completely disregarding GMCO and our other licenses, etc., and also the fact that investing in miners is speculative - we typically pay more than NPV on the gamble that KEFI are very likely to find significantly more gold - it's literally their business model.

Call it ramping, stupid, crazy, etc. if you like, but if you are going to say that I am wrong, at least post your valuation calculations to show me how KEFI is only worth £165m (2p)!!!

Bonkers, at some stage I'll likely be buying your shares for 2p then. I'm still a buyer until KEFI is no longer at least 50% under-value.

And there is every chance that KEFI will be 20p within the next 5 years.

3moz resource (current 2moz, plus expected 1moz+ in underground mine) and a price of gold of $3,500 and the NPV becomes 40p. I would say that I will be disappointed it we don't achieve that within the next 5 years.

I'll be over the moon if you sell for 2p though and clear away off from here though lol

Looking forward to tomorrow. Could be another day like Friday, or perhaps it's on HoPR agenda for tomorrow morning and we will see some multi-bag fireworks!

Rocket, by my calculations, if NPV is 15p @ $2,800/oz, that gives 20p @ today's $3,316 (and 26p if the average price of gold, over the 7 year mine life, minimum, was to be $4,000).

As you can see, anybody thinking of selling out at 2p, 5p, etc. is going to be incredibly regretful about (what could have been) in only a few years time.

Bonkers, I haven't even read past the first line of your post. I'm not having a pop at you, I'm just trying to offer some friendly advice to make this forum a better place and a more useful resource for all. Don't take this forum so personally.

It's about knowledge and opinion sharing, not about influencing people and covert tactics like you seem to be paranoid about. Have a great bank holiday :-)

Great to see price of Gold up again. Has a huge impact on KEFI NPV.

Bonkers, I've no idea if you're right or wrong about people with multiple usernames (although it is curious that you know this is even possible!), but you're obsessed with this sort of stuff...... why does it matter to KEFI shareholders?

Having numerous accounts all agreeing with themselves, doesn't change what is said. Just like your obsession with linking me to somebody who apparently isn't very likable on telegram or something..... why do you feel that this stuff is important?

I would recommend that everybody looks at what people are saying, DYOR, and if you come across any conflicting or further supporting information then post it. That's how these forums are supposed to work - a community collaborating on research and debating opinions, for the betterment of the whole community.

You should try this approach sometime and worry less about "scoring points" against other faceless LSE usernames that you will never meet.