Member Info for vaulted

Read the Annual Report, all systems go and on schedule, so had another little top-up, but please no more of those pesky dips!! I'm not buying any more 🤭

Not back in the UK untill the 25th so if I can muster up the energy for the drive down to London, hopefully meet up at the AGM.

GL to all you kefians 👍

Morning all, lots of positivity here in the North West from this LTH 😁🎉

Just a little more patients and you will all be rewarded.

Strong & Long!!

Some great insight also an introduction of Jeff Raynor, definitely worth a watch.

GLA onwards & upwards

htTps://youtu.be/KpEu6NFonbk?is=N7TFK_Am7eTNWtze

Update looks good!!

Highlights

· Stifel appointed as joint broker and sponsor for the Company's planned move to the Main Market of the London Stock Exchange

· All key Project milestones at Tulu Kapi tracking at or ahead of schedule

· All principal contracts at Tulu Kapi now finalised

· Tulu Kapi financing packaged strengthened by eliminating the reliance on a short-term working capital facility

· 3-year working capital facility replaced by long-term funding of 8-year+ subsidiary level equity ranking capital

· Project economics for KEFI shareholders maintained while de-risking Project execution and preserving upside

That worked well, 😂

morning xhita, full link if it helps

https://www.***************************/kefi-notes-ethiopia-cyprus-diplomatic-progress/4121251905

Half year results look good, improvement in most areas including MFI & the divi.

Soon back over a pound!!

GLA

Hi Xhita, I was hoping if you had the company's ear or if you know, what are current position is regarding Askari and the over pegged areas which I have always hopped we would have reinstated. TIA & GLA

Well said Simms45!! " build it and they will come"

Nice to see Jeff Raynor back in the fold, this is a positive hint of enlarging the prospects of the company, nose of a Blood Hound for finding resources, onwards and upwards!!

At the same time, Jeff Rayner has rejoined KEFI as Head of Exploration. Jeff was KEFI's inaugural Managing Director, then focused on grass roots exploration which, under his leadership, led to the Company's Cyprus-based team's early discoveries in Saudi Arabia, Ethiopia and elsewhere within our selected geological terrains, especially the Arabian Nubian Shield. His skills and experience will now again be used to lead KEFI's exploration initiatives as they are prioritised and to support the Saudi joint venture wherever appropriate.

Hi Stebo, as Alan Shepard said " I like them numbers"

GLA

Does this help!

1) KEFI Gold and Copper – Tulu Kapi Project (Ethiopia)

We have secured a 4.8% gold royalty over the Tulu Kapi project, a large-scale development asset that is fully funded and targeting commissioning in Q1 2028. The project is expected to produce approximately 165,000 ounces per annum from open pit operations over an initial ~7-year period before transitioning underground.

Following delivery of 48,000 ounces attributable to our royalty, the rate steps down to 3.2% for the remainder of the life of mine.

Oromia, Ethiopia dismisses hashtag#Askari_Metals’ claim as ‘speculative PR,’ says licenses under review and no site access

Askari Metals announced that it had raised USD 1,150,000 to support drilling at the Nejo Gold and Copper Project in Ethiopia and Namibia. However, the Oromia Mineral Development Authority (OMDA) rejected the announcement, calling it “a broker’s speculative PR stunt” and disputing the company’s legitimacy in Oromia.

OMDA told Addis Standard that it does not officially recognize Askari Metals as a license holder. It added that the three exploration licenses associated with the Nejo Project are currently under review due to regulatory problems in their renewal process, and that Askari Metals has no authorized access to the site.

Addis Standard previously reported that OMDA had formally asked the Federal Ministry of Mines to revoke three “renewed exploration licenses” held by Hong Kong Xingxu Mining International Investment Co. Ltd., citing violations of federal and regional mining laws, non-performance, and procedural irregularities.

In a July 10 letter, OMDA recommended the revocation of three exploration concessions in West Wellega Zone—License Nos. MOM/EL/00004/2022, MOM/EL/00005/2022, and MOM/EL/00006/2022—due to breaches of both the Federal Mining Operations Proclamation and the Oromia Mining Operations Proclamation. These licenses had originally been issued to Xingxu Mining in March 2022 and were valid through 2025.

The licensing dispute intensified in July 2025 when Askari Metals announced that it had acquired 100% of Xingxu Mining International Investment Co. Ltd., the company holding the Nejo Project. This acquisition occurred even as the underlying licenses were already facing potential revocation by regional authorities.

In August, OMDA sought to strengthen regional control over mining operations by issuing new regulatory measures granting Oromia greater authority over issuing, renewing, and revoking licenses. It accused several companies of speculative license holding, lack of operational capacity, environmental violations, and failure to meet community and regional obligations. As a result, 15 companies, including Xingxu Mining, now face possible license cancellation.

I personally think we will get these license's and secure Kefi`s future in the area

Despite unresolved licensing disputes, Askari Metals continued issuing updates claiming its licenses were validated. OMDA, however, insists it does not recognize the company as a legitimate license holder and says it is preparing a new resource-development plan aimed at attracting credible and compliant investors to the Nejo area.

You could keep an eye on the Kefi`s website for a update.

htTps://www.kefi-goldandcopper.com/news/holdings

HtTps://www.edisongroup.com/research/the-finish-line-comes-into-sight/BM-2299/

HtTps://www.edisongroup.com/research/the-finish-line-comes-into-sight/BM-2299/

MF2017 @ well said !!!

Enjoyed the presentation I think everyone should now be very positive despite all the hurdles and obviously a few disappointments along the way.

onwards and upwards

GLA

As a recap: funding package now totals c.$355M and covers Tulu Kapi Gold Project development over the next 2 years for the open pit, then the

development of the underground mine, plus cost overrun reserves and initial preparation of growth opportunities in gold and critical materials.

Also note that Tulu Kapi is classified as an Ethiopian Strategic Project with priority service for logistics (eg diesel supply) , regulatory processing and similar.

Seems like a great incentive scheme that will benefit shareholders with the increasing share price if achieved, a bonus scheme has to be achievable!!

Under the VCP:

· Awards will be assessed based on the Group's share price measured over a suitable averaging period.

· Where the share price over this averaging period is between £2.25 and £2.50, participants will be entitled, in aggregate, to receive 5% of the value created above the £2.25 hurdle. Where the share price over this averaging period exceeds £2.50, participants will also be entitled, in aggregate, to receive 10% of the value created above this higher hurdle (together, the "VCP Pool").

· If the share price over this averaging period does not exceed £2.25, awards will lapse in full.