Member Info for tintin35

There's a couple of fairly significant things happening in March so watch out for Harry's report to the minister (and to us) in a few weeks;

o All field programmes recommenced for community consultations and new host land preparations, with regular independent security monitoring over the ensuing months.

o Remaining few Ethiopia regulatory administrative tasks completed, such as endorsement of historical costs, working rules for the London clearing account to avoid restrictions of capital controls and clearance for both banks to lend on same terms.

o Updated term sheet for offtake-linked mezzanine facility now involving senior lenders as well the metals trader.
Ultimately, May looks like the big one;
Drafting of the remaining detailed documents, flowing from the regulatory approvals, mezzanine term sheets and Project contractor pricing updates in March and April.

o Insurance package and pricing confirmations.

o Independent security review and decision as to when to sign final documents.

o Signing of binding documents by all

How come Akobo is moving faster than Tulu Kapi?

A: Akobo is a good company with a much smaller project in a quiet part of the country. As to their plans for production and mine life : we are unfamiliar.

looks like we'll be sending our over priced oil through Russian pipelines for a while to come....

from BBC
Now the taboo of taboos, known as energy security, looks like it may be smashed too. Russian violence against Ukraine is heaping pressure on the EU to impose energy sanctions. The bloc depends on Russia for 40% of its natural gas and a quarter of its oil imports.

What’s the point of all the EU’s financial sanctions, if Vladimir Putin’s war chest is filled on a daily basis with oil and gas revenues, you might ask?

So here we are: the US and Ukraine’s indefatigable President Zelensky are leaning on Brussels to slap sanctions on oil imports at least.

Eastern EU countries, like the Baltics, strongly agree. They feel particularly exposed by the Russian threat.

But other EU members, like big hitters Germany and Italy, feel more threatened by spiralling energy prices.

Emmanuel Macron of France is about to stand for re-election as president. He too is wary of making what could be unpopular moves amongst drivers and people needing to heat their homes.

So, for today, the EU has avoided talk of energy sanctions. Instead, it’s repeated plans to move as fast as possible from energy reliance on Russia: finding alternative suppliers and working on renewable energies.

But turning that wish into reality will take time - something Ukraine does not have.

do you reckon that'll happen? USA gets 3% of oil from Russia so are all up for it - but EU gets 30% - massive implications for them -can't see them doing it. Still, would be nice to send it via somewhere else to stop it affecting our SP!

Kefi one of the few shares not being savaged this morning. We will have gold for the bad times and copper for the good.
Mainly buys today it seems :)

confirmation

Q: The most recent Q&A narrative on the Kefi website (16 Feb 2022) states “a detailed timetable will be sent out by RNS” , relating to the works/tasks progressively required in order to reach project close in/around May/June 2022. It would be extremely helpful for all stakeholders to get this RNS into the public domain sooner rather than later.

A: Thank you for the question. the foreshadowed RNS was released on 3 March after fhe finance syndicate and Ministry confirmed they would do their part.
Posted 04 March 2022

This def has the feel of Harry's homework sent to the Mining Minister for marking. Glad to see the Minister is keeping on top of this. We now have specific benchmarks for the next few months which we never had before (just vagueness). We will move rapidly up as each one is ticked.

Launch of Tulu Kapi Foundation, administered with local authorities, community representatives and Ethiopian Evangelical Church of Mekane Yesus.

o Final pricing agreed with contractors.

· May-June 2022:

o Drafting of the remaining detailed documents, flowing from the regulatory approvals, mezzanine term sheets and Project contractor pricing updates in March and April.

o Insurance package and pricing confirmations.

o Independent security review and decision as to when to sign final documents.

o Signing of binding documents by all

Harry Anagnostaras-Adams, KEFI Executive Chairman, commented: "It is great to see that Ethiopia has settled down so quickly over the past two months and that TKGM's teams are back in the field for launch preparations. Everyone is now pushing for full Project launch.

"And it's doubly impactful that the turnaround in Ethiopia has coincided with a take-off of our projects in Saudi Arabia. KEFI has turned onto the front foot in both jurisdictions, after particularly frustrating years in both.

"KEFI now has three advanced development gold and copper-gold projects with significant resource upside in two now-supportive jurisdictions of the Arabian Nubian Shield, and in which our beneficial interest is already the equivalent of 2.1 million oz gold. I look forward to keeping shareholders appraised of our progress."

Bought a bunch more yesterday at 0.699 thinking we should get rns soon about progress at TK - this looks good - clear indications of what is happening and a time scale - game on!

Following the abatement of Ethiopia's civil war at the end of 2021 and its State of Emergency being lifted, TKGM has worked intensely with the Ethiopian Ministry of Mines (the "Ministry") to monitor the situation to ensure that it is appropriate for the recommencement of activities at the Tulu Kapi site and in the wider district. The Company is pleased to report that over the past two months the security situation has remained stable at both the site and the preferred transport routes, enabling activities at the Tulu Kapi site to recommence in an appropriately managed manner.

The Project's principal contractors, Lycopodium (plant construction) and Corica (mine services), are expected to deliver the final costings for confirmation at the end of April 2022. The anticipated final capital estimate for the Project has not changed from previous guidance and remains fully covered by the previously announced non-binding subscriptions from the Project's financing syndicate, with any required residual contribution also now covered in the event of exercise of the Company's warrants issued in December 2021.

Recent meetings with the Project's senior lenders and other finance syndicate members have reconfirmed the targeted financial closing in in mid-2022, subject to the security situation remaining stable as activities increase over the coming months, and various documentation and government administrative tasks being completed. The independent security assessors have commenced regular field inspections.

TKGM is now recommencing refurbishment of the existing site camp to accommodate the initial construction workforce and have recently completed detailed design for the procurement and construction of: the security camp; a new all-weather access road; the permanent camp; water dam 1; plant and administrative buildings; Bir-Bir river pump station and pipeline; tailings storage facility - stage 1; process plant; bulk fuel and lubricant storage area; grade control drilling; on site metallurgical testing laboratory; explosive supply and storage; and the mining fleet service area.

Tasks to be undertaken ahead of Project finance closing are summarised as follows:

· March 2022:

o All field programmes recommenced for community consultations and new host land preparations, with regular independent security monitoring over the ensuing months.

o Remaining few Ethiopia regulatory administrative tasks completed, such as endorsement of historical costs, working rules for the London clearing account to avoid restrictions of capital controls and clearance for both banks to lend on same terms.

o Updated term sheet for offtake-linked mezzanine facility now involving senior lenders as well the metals trader.

· April 2022:

o Launch of Tulu Kapi Foundation, administered wit

money talks - I give Putin a week...

Forbes estimated on Thursday that 116 billionaires had already lost more than $126bn since 16 February, and Russia's richest man, Vladimir Potanin, personally lost $3bn in a single day's trading last week. Since then, the economic picture has worsened.

next step HAS to be confirmation that insurers are happy with TK security situation. Nothing much can happen until that. BUT if that rns pops up you'd better load up....

after the embarrassing performance of the Russian military so far in Ukraine it's highly unlikely that even Mad Putin will want to do this all over again in a "friendly" neighbouring country. Let's hope for some sort of ceasefire soon and an end to this madness.

a smaller percentage of a bigger mine - which is better? Would you rather they did a placement - how else are they supposed to pay for this?

Harry Anagnostaras-Adams, Executive Chairman of KEFI, commented:

"Our 2022 projects in Saudi Arabia took off two months ago, with the reporting of a significantly expanded and upgraded Mineral Resource Estimate at Hawiah, the granting of the Al Godeyer Exploration Licences and the informal indications from the Saudi Arabian Ministry of Mineral Resources that our Jibal Qutman Gold Project will have its mining licence application processed this year.

"Our field teams have immediately responded and are focussed on achieving our key 2022 objectives in Saudi Arabia of completing the Hawiah Copper-Gold Project PFS, updating Jibal Qutman's development plans and rapidly hitting the ground at Al Godeyer, where early results indicate significant VMS potential, similar to the copper-gold deposits at Hawiah. Success at Al Godeyer would potentially add substantial value to the development of the Hawiah project.

"VMS deposits typically form in clusters and Al Godeyer is only one of the many VMS prospects in the G&M pipeline of exploration targets."

The development in due course of G&M's rapidly growing projects is intended to be funded as to c.25% by the G&M shareholders (KEFI 30% and ARTAR 70%) and c.75% by project debt-funding. G&M's projects look likely to be developed following construction of the Company's Tulu Kapi Gold Project in Ethiopia, the full launch of which is targeted by mid-2022.

Hawiah

Exploration drilling and trenching at Hawiah has continued following the substantial diamond drilling programmes completed during 2021 and the upgraded Hawiah Mineral Resource Estimate ("MRE") announced on 6 January 2022. Current work streams are focussed on providing data for the Hawiah Preliminary Feasibility Study ("PFS") and include:

· A 3,700m reverse-circulation ("RC") drilling programme which commenced in late January 2022 aimed at upgrading and expanding the oxide portion of the Hawiah MRE to an Indicated Resource category for open pit mine planning;

· A now completed, targeted trenching programme across the Camp and Crossroad Lodes, which enabled the collection of bulk samples of the oxide material which have been dispatched for analysis;

· Further metallurgical test work on the sulphide mineralisation to determine the preferred flowsheets to recover the copper concentrates and zinc concentrates, as well as the gold and silver;

· A recently commenced 1,800m geotechnical diamond drilling ("DD") programme; and

· A 1,350m hydrogeological drilling and pump testing programme which is scheduled to start in early March.

Al Godeyer

The two Al Godeyer Exploration Licences ("EL") granted in December 2021 are located immediately west of the Hawiah EL and contains historically recognised and newly identified gossans that crop-out over a 2km strike (see the appended Figure 1 accessible via http://www.rns-pdf.londonstockexchange.com/rns/9432C_1-2022-2-27.pdf). These are considered to be the weathered surface expression of a Volcanic Massive Sulphide ("VMS") deposit, a direct geological analogue of the Hawiah deposit. Initial exploration has focussed on establishing continuity of the main gossans and work in the first two months includes:

· Mapping and rock chip sampling; which has returned gold grades of up to 7.2g/t and copper up to 1.8% within the gossan;

· Completion of the field data collection for the Self-Potential ("SP") geophysical survey;

· Systematic trenching across the mapped gossans with 13 of the planned 28 trenches completed and dispatched for analysis; and

· Planning for the Q2 2022 scout diamond drilling programme.

Harry Anagnostaras-Adams, Executive Chairman of KEFI, commented:

"Our 2022 projects in Saudi Arabia took off two months ago, with the reporting of a significantly expanded and upgraded Mineral Resource Estimate at Hawiah, the granting of the Al Godeyer Exploration Licences and the informal indications from the Saudi Arabian Ministry of Mineral Resources that our Jibal Qutman Gold Project will have its mining licence applicati

https://english.alarabiya.net/News/world/2022/02/23/Ethiopia-s-PM-Abiy-says-government-open-to-talks-with-Tigray-rebels-to-end-conflict

everyone taking a hammering today cos of that drunk idiot putin. Weird as it makes our resource bigger....

personally I hope not - but there's bound to be a few who need the money quickly and can't wait - or the 10 percenters etc...
Just need a stream of good news over the next couple of months...

we have had some big volume this last week - but we're gonna need it to shift the overhang of shares from the last placement. But, basically, once we're through that we should move up rapidly.