Member Info for Stebo

Relocation of the locals is a huge part of the construction, with site clearance and installation of the processing plant being the other. The actual mine is pretty much ' just start digging up the ground!!

This isn't like a Havieron, where we actually have to construct a decline or the likes.

Saying 'this isn't construction - it's just resettling locals, or this isn't construction - its just bringing in utilities, etc. doesn't really make sense. It's all part of the project, and it has now commenced, and the ball is now rolling.

@Magic-orb .... unless you're thinking of selling, then the sp isn't overly relevant.

And seeing as you clearly don't hold any shares, I'm not sure why you'd be thinking of selling :-/

@Crisu "Solgold NPV is between 3-4 billion GBP and they have been bought by the chinese for 1 billion BPB. No one is pying the NPV at takeover or something close to that."

I don't know much about Solgold, but are they not miles from development, with finance-risk still very much at large at Cascabel? If so a 'NPV X 0.3' buyout would be completely reasonable,.

TK is now fully financed and in construction, government 100% on board, locals 100% on board, etc. Therefore you'd expect a price more like 'NPV X 0.8+', so at a 17p NPV x 0.8 = 13.6p valuation.

I would be very disappointed at this, because I believe the dividends are so close and will be epic, but I would be really worried that a bid at that kind of level would be considered acceptable by a majority at this stage.

@Crisu the take-over price is based on the Asset Value, not the sp.

KEFI's sp is currently completely disconnected from NAV, this is because of a history of dilution (to get to this point), and a shareholder body who are already in huge profit and can afford to sell under-value and still be very profitable.

If there was even a sniff of a take-over, then the sp would rerate to be more in line with the NAV. For instance the GMCO holding alone has been valued at 150-odd-million, and isn't even currently considered in the sp.

Today's crazy sp of 2p, would not be the sp if there was talk of a take-over on the cards.

"The only construction that has started are the village houses…. The mine construction won’t be for months"

This is wrong...

1) the houses need to be built as part of the project. It's all one and the same

2) Lycopodium have been signed up and the plant is under off-site manufacture, which is a major part of the construction project

3) the "mine construction" is a very simple open-pit mine. There is very little 'construction to it. The majority of the work is things like access roads, utilities, site clearing and the village housing cluster.

"Be patient. Grow some balls." ...... or don't, wait for everything to be sorted, and for the sp to correct, and just buy at 15p instead

I would also be disgusted if we were bought out at 10p, but really it would come down to the BoD who hold so many shares that I feel they would have the casting vote. PIs would be split between those who'd just be happy with a few quid in their back pocket now, and those who see the big picture and understand the 2p+ dividends, and potential of 40p per share in the long-term. So the PIs would be split, and BoD could potentially be swayed by some personal little sweeteners.

I would be a hard no at 10p, but I would be worried that it might go through if it was offered very soon. Hopefully over the next 6 months the sp starts to correct, and if we're at close to 10p, then it would obviously take a much more realistic offer to get agreement.

A corrected share price is our protection against a below-value buy-out.

Unfiltered just to catch what you were posting.

How incredibly innocent of you.... drop a little bit of sensationalism, after the topic has already been discussed to death and fully established that this has nothing to do with KEFI or Tulu Kapi, and then say 'make of this what you will'.

Nobody is buying your c.r.ap. anymore bonkers. You over-played your hand when you told us all that you sold out (right on a spike that lasted all of 5 seconds) months ago, yet you still hang around here just to meddle.

You're a bad actor with a vested interest, and anybody who has ever listened to you on this forum would have been better off today if they had ignored you.

Back in the bin

What's this... bonkers dropping some subtle "the sky is falling" propaganda just as the market closes on a Friday.

This is the guy who has already sold out of KEFI a long time ago, and insists he has zero vested interest lol

We've already discussed the Ethiopian-Eritrean politicking and sabre-rattling. It has zero impact on KEFI or Tulu Kapi. It has been put to bed. You need to get some new material. Maybe try to spook the easily manipulated with something about gold going back to $1,500/oz or something.

@hubstar This is literally on a silver platter for the market, and even a child could work out that KEFI is a multi-multi-bagger, in terms of capital growth.... yet the market just doesn't seem to get it!

I've stopped focusing on the sp, and am instead more focused on the dividends. Having the Chancery deal explained, and how their royalty only becomes payable alongside distributions made to shareholders, really puts the spotlight on the dividends.

I couldn't care less what the sp is, so long as I am lifting a good full time salary in dividends within a couple of years! I am sure that once dividends start flowing, that will correct the share price anyway (if the market hasn't figured it out for itself long before that!).

"literally just launched yesterday, and you saw it with your own eyes. the Tulu Kapi project in in Ethiopia.... fully banked, fully funded.

We're finessing the final little pieces of the last sort of 5% of the total package. It's just being finessed now."

This interview was recorded yesterday - that little bit of final 'finessing' must be nearly done. RNS imminent imo.

Yesterday was just a raid on the weak - somebody know's what is coming :-D

@Magic-orb Now, now, lets not tell any porkies.

At 1.6p I told you that I expected it would be 2p by this week.

When it hit 2p you were nowhere to be seen on here - you only ever slither back when the sp is in decline.

I'm not sure how you're getting this wrong - at the time you mocked me and told me you'd taken a screen-shot of my comment!

Here's another screen-shot for you - Today is an anomaly, and by this time next week we'll have went back to above 2p again.

@ShotgunMike I think you're right.

Was it not also last Thursday, just before close, the we seen a stop-loss raid? And then the next day it rocketed up within the first hour or so.

Definitely feels like MMs up to some fun and games to fill a big order, before letting the brakes off and moving the price upwards. Will be interesting to watch what happens to the share price tomorrow!

Going from AIM to main market has a lot of hoops to jump through too, but I definitely wouldn't complain about seeing moves in that direction.

@StephenX We all know that the finance is 'sorted', but it's not strictly done until KEFI release an RNS stating that.

These Institutions are playing with other people's money. 95% of their job is covering their own ass, and it's not worth their jobs to be taking gambles, or 'bending the rules'.

You're not right about the issue being AIM. Yes some IIs have mandates about what markets they can invest in, but there are load that invest in AIM and actually some that are specifically mandated to invest in the likes of AIM (such as venture funds, high-growth funds, etc) because they see it as a more aggressive growth strategy.

A move to the main market would be something I would welcome, and I think it would also be good for the sp, and I also agree that it would widen the pool of eligible IIs, but I still think that it will be II money that will drive KEFIs sp up to the next few levels.

It's not like there are set rules across all IIs, and we already have IIs on board I'm sure (perhaps somebody with a bloomberg could confirm who?). Getting finance signed off will widen the pool of eligible IIs, and a future move to the main market would widen it further.

@Crisu II = Institutional Investors. Currently KEFI is strictly not 100% financially de-risked, as the last $20m has not yet been signed-off, so therefore it would still be deemed to high a risk for any institutional organisation to invest. Being 99% funded isn't good enough - if it's not 100%, then it's deemed high-risk. Therefore due to institutional rules and regulations, it is unlikely that any fund managers would be allowed to invest in KEFI. Once that last $20m is signed off, then fund managers can go to their boss with a proposal to invest in KEFI, without risk of being shot down at the first hurdle.

A TR1 is a required notification. Typically nobody knows who the other shareholders are, but once a single shareholder goes above owning 3% of the company, then they have to release a TR-1. Currently this would be an holding of circa £60m. This is the kind of money that IIs will be throwing about, which makes PI money seem like chickenfeed.

It's also relevant that II investments are for a 5-year+ plan. They invest based on logic and numbers, and they are not swayed by rogue posters on message-boards or twitter lol. They are sticky hands, compared to fickle PIs.

You can understand then why it will be II investment that will bring about the KEFI re-rate. I hope that we will start to see IIs building positions as soon as we get that last $20m signed off, and by the end of March it will be a very different landscape

$320m already secured and signed off

$20m more to come from 2 other streamers, $10m each, on the same terms as Chancery

These other 2 streamers are to be signed off before the end of Feb (next week).

That is then 100% of the financing signed, sealed and delivered. I'd have liked to have seen it signed and RNS'd along with yesterday's 'launch', but looks like we'll have to wait until tomorrow or next week for that RNS.

At that stage it will be interesting to see how long it will take for IIs to start taking positions. I wonder if we will see our first TR-1s in March!

@Grezzz Nobody is going to war.

It's all just politics.

Ethiopia want access to the Red Sea, which they will no doubt get, but Eritrea want to make sure that they get as high a price as they can for it.

Absolutely none of this will have any impact on KEFI or Tulu Kapi!

@Hubstar I get what you're saying, but I'm not sure that I read between the lines just as much as you are.

I'm not saying you're wrong, just that I wouldn't bet on it.

Chancery have contributed $20m, so that's why they were there. I like that he has just spent a good few days with Harry, and refers to it as being a done deal. Whether or not it was Chancery that expanded their offer to close that out or not, I'm not so sure about. Will wait for the RNS though!

The key thing for me is that he refers to TK as being "over the line"

Regarding CEO Harry.... "He's been working really hard at this. It hasn't been easy, but he's finally gotten over the line."