Member Info for Stebo

Burgeseb, that is 100% based on your negative opinion and desire to see KEFI sp crash. Not a once of fact.

If that’s what you really think though, that’s cool with me. I’ve already picked up millions of other shares for bargain basement prices that people who listen to you have basically gave away for nothing!!

You have your opinion, and I’ll have mine.

Hope you’d a great weekend. Here’s to a transformational week, just in time for Santa.

AFC formally approved

TDB formally approved

Contract drafted

Early works due to transition to major works as soon as contract signed

Ratification due, hopefully this week

Contract then signed securing finance (hopefully this week

Placing done (no need for another)

Saudi up for sale, payday from that exploration due imminently (at least as much as our current mcap

Significant achievement in ‘24, primarily getting formal approval from 2 banks and contract drafted for whole syndicate, including increased loan amount.

Major works are major works. We’ll still be doing the Major Works in two years time. Saying Major works mid ‘25 doesn’t mean they haven’t started in early ‘25

Why do you assume that? Just a pessimistic person?

I would guess that it will start well before that (depending how long it takes 3rd part to sign-off on security and community readiness), but even it takes until March, so what.

The conditions precedent to signing of the Contract were clearly listed on 6th Nov RNS.

None of those three were on the list. All three are imminent anyway though, so if that’s worst case then I won’t be loosing any sleep and will keep

loading.

DSRT. You’re wrong.

PROCESS IS

Early works - done

Bank approvals - done

Ratification of AFC - hopefully this week

Signing of detailed definitive document (contract) - hopefully this week

TKGM launch - first thing ‘25

3rd part sign off on the completed Early Works - Jan ‘25

Draw-down of finance and commencement of Major works early ‘25

What did you read that made you think Major Works was Q2 ‘25???

* “not completed” should read “now completed” lol

I’m starting to thing that the biggest think I’m looking forward to post finance, is all the shorters finally giving up lol

The hundred of thousands of profit will just be the icing on the cake.

Let’s see where we all are this time next week!!

Next week is shaping up to be a special one!

Bonkers is going into overdrive - I’m sure he can’t wait to get his short closed first thing on Monday!

The timeline is on course, and hasn’t changed since about May ‘24.

Off the top of my head……

Early works to be completed - not completed (just to be independently verified once TKGM contract signed)

Bank loan approval by Oct - happened at end of Oct (or first few days of Nov)

Contract due to be closed out in Q4 - looking like this could be the week for ratification, so signing of the detailed definitive documents on course for Q4.

Major Works due to start early ‘25 - on course.

I’ve no interest in convincing you though. If you don’t think KEFI are going to do the business, then sell your shares to someone more optimistic and buy them back again (for many multiples) once the definitive documentation is signed and KEFI is de-risked.

Bonkers, I can't remember the exact interview, but I am sure Harry at one stage was bragging about the low cost of exploration vs discovery at TK ($6/oz discovered if I remember right). Obviously that is dependant on actually making a discovery, but all things being equal Ethiopia is a better place to go exploring that SA. We are an exploration company. It's what we're successful at. We seem to have an edge in Ethiopia, and no doubt a lot of 'lessons learned' that we can leverage in Ethiopia. Let's use that is my opinion.

It all comes back to what price we get for SA. I believe we're selling SA because it's in fashion right now, and therefore will command a premium. I also think that we will get a cracking price for it. That's my opinion and you're welcome to take a more glass-half-empty approach.

Hopefully we both find out soon.

Bonkers you're still not understanding what I am saying. Nobody is claiming that Konso is definitely going to bear fruit. I am saying that there is the scope there to extract value. The low hanging fruit value at GMCO has been realised. The next steps there is to pump money into it for 3/4 years before we see a penny in return. Others with deeper pockets and better connections are better placed at doing that. The value KEFI brings is finding the resource in the first place - lets get back to doing that at Konso, rather than GMCO killing us on cash-flow for the next 3/4 years.

Bonkers, it is also worth bearing in mind the political and legislative changes in the last decade. Ten years ago Konso wouldn't have been worth the effort, because of the difficulty of turning it into a functioning mine even if there was a good discovery.

"clearly you know more then kefi , otherwise they wouldn't be mapping and trenching which everyone knows is very early stage exploration.

that right there is the issue i have with some posts here , the rampy ones are written as fact rather then wishy washy opinion based on very little other then hope.

the real truth is you have absolutely no idea if Konso even holds a deposit let alone a commercially viable one"

You are misunderstanding what I am saying.

I am not claiming that there is undiscovered resources in Konso, what I am saying is that exploration is our forte, as opposed to development of a discovery into a producing mine (as we have seen with TK!!).

I mean we can bring value to Konso by carrying out effective exploration at low cost.

PS .... what is it with on here this weather that every time somebody shows a spark of optimism or enthusiasm they get bombarded with crys of "ramping". Ramping is something that happens in a pump and dump, when people are looking to sell so they spout a load of lies to try and get the share price as high as possible for a sale. I am currently buying, and I think that anybody who would sell KEFI shares at these prices is absolutely mental! Ramping happens at a prices peak. With KEFI's sp at 0.5p it is derampers, looking for one final push downwards that you need to be wary of.

Bonkers, we're not swapping. We're selling something that is hot property right now (and I know you disagree with me on the price, but we'll wait and see!), and getting an under-the-radar resource which is full of value that KEFI can extract.

"Lots of rampers usually means that they are trying to create buyers so they can escape with what remains of their capital. Fundamentals have changed."

Are you sure that it's not just a case of logical excitement and enthusiasm? Look at what has changed in the last 5 weeks with KEFI:

- AFC approval (after waiting for what seems like ages!)

- That means the whole syndicate has now formally approved (with TDB to reaffirm)

- Clarity regarding imminent sign-off on the syndicate contract (detailed definitive documents) as soon as ratification sorted (imminent) and TDB reaffirmation (imminent or already done)

- Cashing in SA value created (short-term this is a massive win and de-risking of KEFI)

- Clearing of $10m GMCO SA liability

- Clearing of £4.6m KEFI PLC liability

- Reaffirmation of Early Works transition to Major Works in early '25

- Reaffirmation of closing out of Contract in Q4 (could be any time)

- Big placement and emotional over-reaction leading to bargain mcap for buyers

- Minimal chance of any further placements (SA money will see TK through to cash-flowing)

- ESX about to launch

- Price of Gold soaring

- Etc, etc, etc.

I completely get that LTH have had it rough and are justifiably jaded at the whole thing, but for new investors, or people like myself who have taken the opportunity to average down and fill my boots at these prices, the future is looking bright!!!

The only downside anybody can give me is that they don't trust Harry, which is just fine for me, and if that sentiment can last until just after I get my Christmas bonus I will be over the moon :-D

Constructive post UPshunt.

Clearly you are here for the benefit of sharing information and thoughts with others and the collective good of all KEFI shareholders.

(see..... I can do sarcasm too)

"so instead of an actual example when harry has fought tooth and nail you go on a little outburst."

I didn't go on an outburst. If you want an example, then the recent increase in the loan amount from the banks is a great move. The Konso license is also massive and something that will give KEFI some real long-term (way beyond Harry) prospects. He has also go a syndicate assembled and two bank approvals to finance TK. If you could look at things objectivly you'd see that is real progress under difficult circumstances. I'm not here to be a HAA fanboy, and the fact that everybody hates him is great for me as I'm accumulating, but you sound a bit but-hurt that Harry has caught you for so many raises before and you now hold that against him. If he hadn't have had placements, KEFI wouldn't be on the cusp of launching a $multi-billion gold mine.

"and im sorry did you then nist go on to type to say its harry's job to bull ****, he has screwed you and it's his job to lie to investors.

that's a unbelievable statement and if true why do you believe him so much now"

I don't blindly believe Harry. I look at what is happening, not what Harry says. Harry's job is to make KEFI successful, not investors rich. My job is to leach of Harry's hard work and KEFI's success to make myself rich. I'm not investing in KEFI for the sake of ensuring that Harry gets his bonus, or that the people of West Oromia get nice new houses. Every one of us would screw harry for a few quid, yet we take the hump when Harry uses our speculative greed to screw us for a few quid to try to help get KEFI through to TK launch.

Just because Harry has screwed me in the past, doesn't mean that I have to get all emotional about it and write him off as incompetent. I plan to make a whole lot of money off Harry's back, and hopefully very soon.

Bonkers, I threw it out there as a suggest scenario that I believe makes sense. It would be easy to critique any scenario, so feel free to suggest something more plausible yourself.

If KEFI were going to get screwed by ARTAR they could have easily done a quick fire-sale on the full 25% and would easily have gotten $50m. They're not going to accept $10m for 10% and then also a low-ball price for the remaining 15%.

The $70m isn't based on a good KEFI-ARTAR relationship. It is based on $80m being a fair/cheap price for 25%, which is being carved up in a novel way that suits both parties.

Also I am not saying that it is round the corner, I am just saying that the RNS doesn't mean that nothing will happen until April.

Fantasy, I could list out the huge progress that KEFI have made in Ethiopia, and the value they have added (not to be realised) in SA, but this board doesn't want to hear that.

Because we all don't have a new lambo on our drives, then the narrative has to remain that Harry is a **** and KEFI are useless and have achieved nothing.

:-)

"when has harry ever fought tooth and nail for his shareholders? " that kind of thing is a lazy, almost stereotype, narrative from disgruntled shareholders who have completely unrealistic expectations around how long it takes to establish a gold mine in a war-torn african country during a global pandemic!

harry bull-****s, and he does it to keep investors interested so that he can finance kefi through to tk production. it's hard to hear, as one of the shareholders that he has screwed, but that is his job and he doesn't own shareholders a return on investment. if that' a surprise to anybody then they should reconsider their investment strategy.

unpopular opinion, but harry has kefi's best interest at heart, and your suggestion that harry has allowed artar to screw us for millions, due to harry being lackadaisical is 'bonkers'.

"I would also argue , if harry had no desire to move saudi forward. (After all he didn't wake up one day and think I'll sell it) why not negotiate with artar 6 months ago."

What makes you think that this isn't what happened?

"If he truly felt he could get 70-80m for it , why not sell it already. Not only would if of added incredible value to the balance sheet. Shareholders wouldn't of been diluted billions of shares , and on top of that the s.p would of reacted where he can excise some warrants or be in his bonus window."

I expect that they were waiting for the DFS for Jibal Qutman, which was always forecast to be ready about now. I imagine GMCO (and KEFI) now have that info which has allowed a fair valuation of GMCO.

"Instead it's being suggested harry does a huge dilutive raise a few weeks before getting transformational money."

Remember what I was saying about suspecting that ARTAR is wrapped up in Safaya ;-)

"I'm sorry that makes zero sense to me , but then again I'm bonkers right!"

Hey, it's just my thoughts on the situation. I'm not saying I am definitely right, and I would love to hear another scenario that seems more plausible. You telling me that ARTAR have screwed KEFI for the 10% and are somehow going to pay less that market value for the remaining 15%, and that it is going to take 6 months to sort out (what is there to sort!?), seems a whole lot less likely to me than what I have suggested.