Member Info for tintin35

minutes of webinar out now;

https://www.kefi-minerals.com/files/files/Q%26A-Q4-2021-Operational-Update-Webinar-14Jan22.pdf
Tulu Kapi:
Q: What has been put into place to avoid any more kidnapping of any
employees?
A: The main thing is to have successfully achieved unharmed release without
ransom or other conditions. That avoids many legacy issues. Nevertheless
security protocols have been upgraded with the Government, but we cannot
publish details.
Q: Is the Tulu Kapi financing likely to be completed before the state of
emergency ends in Ethiopia, if not is that soon enough for the Minister of Mines?
A: SOE is until May 2022.
A: We have set out to shareholders the likely window of Feb-May for closing
finance and the Minister of Mines wants to be satisfied in the meantime that we
have the banking support for whenever it can happen according to security and
other normal conditions.
Q: Is the national security in Ethiopia good enough currently (with the recent
government military victories) to permit financial close to happen so that the TK
mine project can finally enter development?
A: It is encouraging that the conflict has abated. The objective tests for finance
closing includes sign-off of all government-facing agreements, independent
security assessment, unhindered site access for say a few months and
availability of insurance for transport and construction.
Q: The ministry of Mines (MoM) has given a deadline of end of January 2022 for
funding of Tula Kapi mine to be signed off. Has this date given by the MoM
changed with the Tigray conflict or does it still have to be completed so the
license is not revoked after 31 January 2022
A: The MOM has asked for confirmation from the senior lenders that they are
committed subject to security and other normal conditions. The banks have
visited the Government offices in Ethiopia and confirmed that is the case.
Q: How confident are you that the licence for Tulu Kapi will be extended if no
funding has been confirmed by the end of January? Are you awaiting specific
security clearance from the Government before proceeding or is it based on
your (and the investors') general perception of peace?
A: The legal standing of the licence is solid.
A: The pressure from the MOM is to demonstrate that we can go ahead when
security and other normal conditions are met.
Q: Ethiopia - what progress has been made in the last few months regarding
project financing? Have you converted the remaining 37% of funding sources
that were yet to give conditional approvals?
A: We have maintained the syndicate despite the various reported incidents.
The syndicate feels that we handled the situation properly, never to put people
and capital under unnecessary security risk. Technical and legal due diligence
kept rolling as did the many government-facing agreements which agencies
need to settle on before the syndicate will send capital into the country.
Q: With TKGM continuing to be on hold un

LKAB announced a couple of years ago that they didn't have as much iron resources as they had thought. They then pretended last year that they didn't really need more (yeah, right).
They have state backing - they will be on Kallak like a shot. Hopefully a bidding war with another major. Last thing I read said Kallak north worth £500m? Three/four times current market cap) Can't remember where I saw that...

And don't forget South Kallak! (still drilling I think?)

already hit 15.5p

and yes - Finland could be a company maker on its own...

Our Tulu Kapi finance syndicate sits on standby for when Ethiopia is ready and we note that the widely publicised military hostilities of 2021 have abated and that the Government has announced the formation of a national dialogue commission to be elected with the objective to seek a long-term solution. We are working closely with all relevant government departments to start the development of Tulu Kapi as soon as possible in 2022 once normal conditions can be satisfied.

In Saudi Arabia, notwithstanding some COVID-related delays, KEFI-managed Gold & Minerals LLC completed its large Phase 4 drilling programme and reported expanded resources. As a scale-comparison with the Tulu Kapi Gold Project, Hawiah's recoverable in-situ metal, which we expect will keep getting bigger, is now estimated to be in the order of 2.2 million gold-equivalent ounces versus Tulu Kapi's 1.2 million ounces assumed in the economic appraisals. We have also been granted two new exploration licenses near Hawiah and expect further progress on our Jibal Qutman Gold Project where we plan heap leach gold operation.

lol - welcome back!

The greens are gone - simple as that....decision in next two months - multi bag time!

last time bought at 4p and sold at 54p - more shares around (but also more mines etc) but much heavier investment (15x) this time (B/E is 5p now)

https://www.nordnet.no/market/stocks/16100655-beowulf-mining-sdb

is 15 minutes behind so use
https://spotlightstockmarket.com/sv/bolag/irtrade?instrumentId=XSAT01000607

debate suspended till later this evening (6 or 7pm?)

https://www.nordnet.no/market/stocks/16100655-beowulf-mining-sdb

Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce that its wholly owned Finnish subsidiary Grafintec Oy ("Grafintec") and Epsilon Advanced Materials Private Limited ("Epsilon Advanced Materials"), have signed a Memorandum of Understanding ("MoU") with the City of Vaasa for the establishment of an anode materials production facility to be located in the GigaVaasa area, Plot 18, situated in proximity to Freyr Battery's proposed battery cell development.

The MoU follows the announcement, on 6 December 2021, of the signing of a Joint Venture ("JV") Heads of Terms by Grafintec and Epsilon Advanced Materials and their intention to build a production facility in two phases, Phase 1 "GVA10" with a production capacity of 10,000 tonnes per annum ("TPA") and Phase 2 which will add 40,000 TPA, taking overall plant capacity to 50,000 TPA of anode material, GVA50. The proposed plant will supply battery/cell manufacturing companies in Europe, complementing Epsilon Advanced Materials' growing anode materials business in India.
"Following my September visit to India and discussions with Epsilon, it was clear that an anode materials production facility was the missing piece in the jigsaw at GigaVaasa.



"I was enthused by the warm and collaborative welcome I received when visiting the City of Vaasa in mid-October, and I am pleased that we have taken a significant step forward to complete the battery value chain at the GigaVaasa area. I am very excited to start 2022 with this announcement.

5p?

CC buying back in?

So basically we await news from Ethiopia of a formal ceasefire/peace deal which would satisfy both the banks and insurers that they can go ahead with TK funding. It doesn't sound like the licence will be lost if we can show the funding is ready and in place but for this.

peace on it's way - no more excuses Harry;

The Ethiopian government announced Friday it would pardon and release a number of detained political figures, including members of the rebel Tigray People’s Liberation Front (TPLF), in a bid to promote national dialogue and unity.

“Its purpose is to pave the way for a lasting solution to Ethiopia’s problems in a peaceful, non-violent way,” the government communications service said in a statement.

For the latest headlines, follow our Google News channel online or via the app.

It listed several leading members of the TPLF, which has been locked in a brutal conflict with government forces in northern Ethiopia since November 2020, as well as prominent opposition leaders from the Oromo and Amhara ethnic groups.

It was not immediately clear how many of those granted amnesty had yet been freed.

However, the Balderas for Genuine Democracy announced earlier the release of its founder Eskinder Nega, a leading Amhara opposition figure who was among those named by the government.

I've submitted the following questions;
How confident are you that the licence for Tulu Kapi will be extended if no funding has been confirmed by the end of January?
Are you awaiting specific security clearance from the Government before proceeding or is it based on your (and the investors') general perception of peace?

Naz is gone?
https://www.bbc.co.uk/news/world-asia-59880166

Based on this resource the Hawiah Project is estimated to contain a total of 223,000 tonnes or 491 million lbs of copper, 210,000 tonnes or 463 million lbs of zinc, 497,000 gold ounces and 7.84 million silver ounces.

HUGE increase - hence the buys yesterday
Hawiah Mineral Resource Estimate has increased by 5.6 million tonnes ("Mt") to 24.9 Mt at 0.90% copper, 0.85% zinc, 0.62 g/t gold and 9.81 g/t silver, representing a tonnage increase of 29%.

· The total contained metal content now stands at 223,000 tonnes of copper (up 33% from 168,000 tonnes), 210,000 tonnes of zinc (up 34% from 157,000 tonnes), 497,000 ounces of gold (up 42% from 349,000 ounces) and 7.8 million ounces of silver (up 22% from 6.4 million).

· An upgrade in key areas from the previous Inferred category Mineral Resource with 10.9Mt now an Indicated category Mineral Resource at 0.96% copper, 0.86% zinc, 0.64 g/t gold and 9.98 g/t silver, paving the way for the completion of the Preliminary Feasibility Study ("PFS") in 2022.

· Total Mineral Resource (Indicated and Inferred) reporting to the Open-Pit Scenario have increased from 0.1 Mt to 8.4 Mt, raising the possibility of an initial open-pit mining operation and a lower start-up capital requirement.

· The Hawiah deposit remains largely open at depth and drilling programmes are commencing in January 2022 with a view to further increasing the Hawiah Mineral Resource, raising the likelihood of further increases to the MRE in 2022.



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

"The updated Mineral Resource Estimate for the Hawiah Copper-Gold Project achieves our key objectives: a tonnage increase of approximately 30% and a slightly higher overall increase in metal content due to overall improved grades, plus 10 million tonnes of the total of 25 million tonnes is now classified as an Indicated Mineral Resource, facilitating the estimation and reporting of initial Ore Reserves as part of the Preliminary Feasibility Study for potential development.

"In addition, we are also pleased to report that the Mineral Resource reporting to the Open-Pit Scenario have increased from the 0.1 Mt reported in 2020 to a total of 8.4 Mt at 0.93% copper 0.72% zinc, 0.74 g/t gold and 10.05 g/t silver. This presents as a clear opportunity for lower cost development during the early years of the Project, further strengthening the economic case.

"KEFI now has a platform of three advanced projects for development in the next few years: the Tulu Kapi Gold Project in Ethiopia which is development ready for when security and other normal conditions precedent to finance closing are satisfied; the now larger Hawiah Copper-Gold Project in Saudi Arabia; and the Jibal Qutman Gold project, also in Saudi Arabia. The Hawiah work programme will also incorporate the previously announced works that will start at the proximal Al Godeyer licence granted to G&M in December 2021. This could also be a significant potential contributor.

"We are very pleased with the updated Hawiah MRE and the priorities for the field work in Saudi Arabia will be determined this month and then commenced immediately."

Harry must be hoping he has some good news on Monday (Saudi update - up 30%? - and poss news on TK) otherwise he is going to have a very uncomfortable time....

some chunky buys going through - 8 million just been bought....

They awarded themselves all these bargain shares at 0.8p knowing that without funding and licence it will be 0.5p? Am assuming that TK is happening and bought some more. Yeah, I know.....