Member Info for Stebo

KEFI's spending ($60m) won't start in earnest until well after the Ethiopref bonds is up and running, or GMCO has been sold. And then when that money is spent the $240m of loans will start to be drawn down.

I suppose I should note that KEFI Ethiopia might be incurring some of the camp establishment costs, but this will be pennies compared to the road construction, community relocation, etc. works that EG are paying for.

Opportunistic, you mean the current on-going works at Tulu Kapi?

That is the Ethiopian Government's $20m contribution. They're not building the mine, but they're responsible for the community relocation, the utilities, road access, etc. These are works that only the Government is allowed to carry out, and it is their contribution to TKGM for their 20% equity.

This is why I think it is crazy that anybody is worried about AFC ratification not happening - the EG are the ones most exposed if it falls apart!

I don't think a raise is nailed on unless the timeline changes from what is planned.

KEFI raised £10.6m recently. This cleared £4.6m of liabilities and left KEFI with £6m cash in the bank.

During the 6 months of the last half-year report KEFI's burn rate was as follows:

approx. £1.16m per month in total, comprised of

£245k finance cost

£373k GMCO costs

£547k KEFI PLC and TK costs

The £245k for finance will now be gone, with the clearing of £4.6m liabilities

The £373k for GMCO will be reduced from 26.8% GMCO costs to 15% currently, so £208K (all things being equal).

So therefore the likely burn rate is more like £775k per month:

£208k GMCO costs

£547k KEFI PLC and TK costs

I also believe that the GMCO expensive field exploration has now moved more to data-analysis which is much cheaper, so this could be further reduced significantly. The EG have also commenced works at TKGM, so KEFI spending there will now have all but stopped. So this could be a lot lower.

From The £6m cash in the bank then, at a burn rate of say £755k/month, this will keep KEFI going for 8 months. That is before they even need to look to finance again. They were able to previously get £4m in loans and bridging finance, so they will obviously be able to do that again if necessary. Another £4m loan would keep them going for another 5 months, so 13 months in total. On top of that GMCO will not be a liability as soon as it's sold, so the burn rate will drop by another £200k per month.

Unless, for some unreported reason, KEFI's spending has hugely risen (even though all the evidence is suggesting that it will have decreased), KEFI will be sitting comfortably until well into 2026, even if GMCO doesn't sell by then. Personally I believe that by then GMCO will be sold for £xxxm (reducing our burn rate and filling our PLC bank account), the Ethiopref bonds will be financing KEFI Ethiopia, the bank loans will be financing TKGM, and the sp will be at such a level that any raise wouldn't even be felt!

I assume that burgeseb’s post is laced with sarcasm lol

You’d hardly know, with some of the anti-kefi lunatics on here lol

Excellent font Mithrel.

No surprise to those who aren’t blinded by resentment of Harry, but hopefully seeing the EG saying this will finally convince the anti-KEFI gang on here that TK is happening.

Watch as one after another their sentiments change to bullish as they all finally invest, realising that the game is up lol

Although, I must get back onto telegram - im so curious now about stephenx. Feel free to send me any links to these KEFI groups that I'm missing out on and I'll try to find my password :-)

You know what DVH, I'd taken a break from even engaging with Bonkers, and even though it's amusing toying with him, I was starting to feel like I'm taking advantage of somebody with their own struggles and issues.

I'm intrigued that he seems fixated about certain individuals, including myself, but you can't have a normal conversation with him, so I think I'll go back to just ignoring him.

So you're on three telegram groups, that are all about KEFI, where you discuss and some guy stephenx who is a laughing stock? But you're not actually on a group that stephenx is on? But you know all about what he posts, when he makes his posts, and how dangerous it is? But you're also glad that you don't have to listen to him?

Mate, none of this is making any sense to me. Perhaps somebody else, maybe somebody who is on telegram, can explain this to me.

What I find really shocking is that I thought KEFI on LSE consumed your life.... it seems that we're only graced with about 25% of these pearls of wisdom that you have to offer lol

Had a good chuckle at you thinking I'm a broker too. Not only am I some mythical telegram poster, I'm all a broker, here to post about KEFI in the hope of ramping up interest...... eh, sorry for what? Is it not in every shareholders benefit for there to be high levels of interest in KEFI, and the more likely we are to see a correct sp? KEFI is a once in a generation opportunity right now, but I'm not that bothered about keeping it a secret lol

Bonkers, you're so obsessed with individuals and personal vendettas that you can't see the forest for the trees.

You're convinced that I am this guy stephenx on telegram, (which I find quite amusing and couldn't care less whether you think I'm father Christmas or the reincarnation of hitler), but did you just say that you're not even on telegram?

You seem to have some kind of defective personality flaw, where you have an axe to grind with anybody who disagrees with you (or thinks your an idiot). But more frustrating than that, is that you're just really confusing. Nobody knows why you're even typing the nonsense that you are typing, and most of the time it doesn't even make sense.

I'm apparently some guy on telegram (which must be a bad thing for some reason because everybody there obviously hates that person - I presume you can relate to that feeling), but actually you're not even on telegram anyway??? And you don't even provide any context or re-sharing anything that this guy (me lol) on telegram is posting, which might many anything you are saying, or I am saying, actually relevant?

And what relevance does any of this have to the sharing of useful information and sources in regard to KEFI anyway, which is what this forum is 'actually' about?? You're so far off KEFI on some kind of delusional multi-platform tangent that nobody has a clue what you're banging on about today

KEFI always did love a Friday!

Great interview, clearly setting out a lot of the stuff we have been guessing and speculating over for the last few weeks.

We truly are at the point of no return, and all we need is a healthy investment and patience.

:-)

I've had a buy order sitting pending all morning :-/

Fantasy, do you actually think that HAA has been dragging his feet?

He is 100% guilty of firing out unrealistic time-lines, to keep the market interested, but I don't think that at any stage KEFI could be accused of dragging their feet. They can only progress as fast as EG red tape allows them to, and I actually think that what they have achieved in Ethiopia in the last 5-10 years is impressive.

It has been explained to you multiple times that your completely wrong in your sums smellyben, yet you continue to post this nonsense.

You're either an idiot or (more likely) your are intentionally trying to deramp and spread FUD

When it starts paying out dividends it does.

Well the bonds are gold-linked (priced in $), so they will get the same return as anybody investing in gold (which has obviously done rather nicely as of late!). It gives them that exposure, and the protection that it provides against erosion of their wealth through devaluation of Bir.

UPshunt

The reason the $ to Bir has risen is due to a collapse in the Bir. Ethiopians do not have access to markets to hedge against this. This is the very reason why the EthioPrefs will be so attractive. Ethiopians are not even looking for a return on their investment, they're just looking for a safe haven.

This is a great 'win-win' way to take advantage of a local problem, but providing a niche solution which has the by-product of allowing KEFI Ethiopia to finance TKGM. There won't be any interest due, unless the PoG rises, and if the PoG rises then we'll have significantly more profit each year anyway.

Perhaps now that all the children are finished throwing their toys out of the pram, over the fact that we got an RNS that wasn't confirmation of Ratification and sale of GMCO, perhaps we can all accept that the project is clearly progressing at pace on thee ground and on all other fronts. The government are pumping money into the scheme and progressing their works, the community resettlement is well underway, the site establishment works are progressing well, the Contractors have been told to gear up to commence the main works, and KEFI Ethiopia has now established itself as a subsidiary company, with management structure now in place.

Anybody who thinks that TK is not 100% happening, and happening soon, is just suffering from the trauma of the last 5 years!

so much negativity on here, but what i see is greedy and impatient people ****ed off that they haven't made their thousands just yet...... but they're all still here.

they all still believe that gmco is selling for big money, and that tk is going to happen. if they didn't then they would sell up and go plays somewhere else. the negativity isn't that it isn't going to happen, just frustration that it's happening at a realistic time-scale, and not the sale's pitch time-scale that harry suckered everybody in with.

the solution is patience. switch off from kefi, set a notification for when the sp goes up 100% and forget about it. it will happen. it will make significant holders very rich for zero effort. but it will happen when it happens, and fretting about how long it is taking is completely futile.

Bonkers, not sure where you're getting that I forecast 40p any time soon???

Regarding the extra million oz that Alanos apparently posted (or maybe you made that up too??), I found it very interesting that today's article stated...

"The general speculation is that there might be another million ounces there at least, and maybe more."

:-)