Member Info for WorldWidePleb

For the record I don't trust the management one bit.

But, that couldn't be the case.

Contago own Lubu, by owning 70% of Montaf (30%).

Look very closely who also owns Montaf… it’s not obvious…and needs some digging. Beyond Montaf accounts.

Then look who owns Contango shares also(Divested off the register) and add up that percentage…(Also needs a lot of digging) but you won’t be surprised.

It may be interesting for some to look up liberation mining Ltd also…

An open market takeover wouldn't be possible with his percentage of stock.

In a round about way the fact that our dismal management (Nothing more than a front man imo- proof- who met the president for the mine opening? ) aren't doing interviews and PR is a good thing. i.e they’re not promoting the stock for a share raise.

Instead we have someone in the know lending £1m with no security… there’re not doing it for a couple of months interest, and they surely know something.

£1m of private cash goes a long way, you don’t punt it on a loan to a dead end managed operation for a few % on a whim - rather buy some US treasury stock.

Just my 2 cents and we could still get sold down the river, but the real owner here wants the payout imo

Something is happening.

So many uniformed and naive assumptions, massively skewed towards to the uber negative... especially bizarre consindering ethiopias rencent and bright future. informed rob simply cant get himself to provide a idoitc view, because it'd mean having to take those thick opinions that are permanently glued to idotic eye sockets. ..

It is Condor, but if you have half a brain and eyes to see you’ll notice the reality has changed.

Hope this helps.

I’ve just been looking at that company in my own research MyIPA, but reached a different conclusion.

I see the offtake partner as ArcelorMittal South Africa Ltd, who is the African continent's largest integrated steel producer.

Reasons: Tallies with the info from the RNS

1. Multi-national

2. South Africa based

3. Has their own trucking fleet

I can't find other steel producers in SA that tick all those boxes.

Tsingshan are based in Zim, so can't be the off-taker.

But I pegged them as the takeover offer company.

Reasons:

1. Currently building a large Zim steel plant

2. Has no secure source of Coke yet

3. There’s a few Chinese coke producers in Zim- All export to China, all don't have a coal mine.

If they go for a takeover offer now, they’ll have a secure supply of coke for making steel and be able to export the surplus. They’ll also get it for a song.

Transore- Export to the UAE and a few other places. I’m sure they’re serious but will now have to organise a wagon fleet to take the coal from Zim to SA. That's a lot of wagons at 20kt a month. Then organise a bulk carrier to ship it. Large logistics that can't be done overnight.

Speculating on.

Off take agreement signed —> takeover offer.

Let's see.

Had Contago on the watch list for some time.

Don't think that could have been a better RNS?

Takeover partner looks serious, and Non-convertible loans are still being used.

The sale agreement still on.

If CGO needed funding now, it would use another non-convertible loan. I can't see the present loan holder wanting a share raise or CLN now with a takeover offer and/or production so close.

The RNS only a few weeks ago states funded until signing.

Date given is mid Dec.

A sudden flurry of interest from a few detractors.

It's a strange way of showing interest, but there you go.

“You may want to scroll back through a few messages. The project is about to start. Read the last RNS and the latest 2 X presentations and most recent interview.”

Manu,

Six years ago, Ethiopia was a socialist regime, which you couldn't get money out of…

Today it's a democracy actively promoting mining and investment.

Note the recent change to capital control laws and the investment activity which has followed it a few weeks ago.

Allied Gold just raised the largest amount of capital in the mining sector for the last 10 years - That was for a gold mine in Ethiopia like Kefis, but worse grades.

Rylidan,

You may want to scroll back through a few messages. The project is about to start. Read the last RNS and the latest 2 X presentations and most recent interview.

Have a look what has just happened for the mining sector in Ethiopia and the companies now coming in.

And yes, Kefi is funded to finacing as per the last RNS a few weeks ago.

Hope that helps.

Michael Oliver on Gold: https://youtu.be/afr90tZsDFg

*0.4p

How are you deriving to your valuation SmellyBen?

Can you share your calcs and reasoning.

Weren't you the trader wanting in at 4p for a quick buck?

Hopefully, we will catch up to GGPs market cap over time after the funding gets the green light.

Resources to each company are about the same. Both need to fund development, our funding is nearly a go, we have a far cheaper AISC and development.

I think Kefi’s KSA assets will start to get more and more attention.

It seems they take a back seat to Tulu Kapi, but once they get underway and the market is informed that a Saudi listing is on the cards after completion, it would raise some eyebrows at what they are worth.

Management took a read across for each project net to Kefi as having a value around AMAKs. AMAK is $1b.

I’d be happy with 1/3rd of that for each project. £270m each or £540m together.

Harry also advised in the latest interview they expect to double the resources there.

Two years isn't long to wait for three massive projects to become fully valued. The potential value uplift from here is enormous.

Wasn't yesterday's meeting just between the syndicated members? Nothing to do with the bank, I believe. We should get the webinar soon, though.

The bank stated mid December for signing. It would be a few days after that for an RNS. Personally, I'm not holding my breath for December. But it will happen now and should be soon enough.

Serious revaluation due on signing then a nice two year hold for three big projects.

Yes, very pertinent information to the company. I am very grateful for someone sharing.

342w, It would be best if you read some instead of spamming utter nonsense.

I understand that Greatland is in a safer district. It also has a higher cost basis and has yet to be as advanced. I thought a brief comparison was interesting.

If anyone can add, I would be appreciated, but in general:

Greatland Gold Havieron Project: Total

Reserves: 2.9 million ounces at 3.7 g/t AuEq

Mineral resource : 6.5 million ounces at 2.2 g/t AuEq.

Greatland (30%) Market cap £585m

Reserve: 0.87 M oz

Resource: 1.95 M oz

Kefi (70%, 30%) Market cap £33M

Reserve: 0.74 Moz

Resource: 1.56 Moz

Calculations: GGP

1. For the first reserve (0.87 million ounces), the Reserve Valuation per Ounce is approximately:

£672.41.

2. For the second reserve (1.95 million ounces), the Reserve Valuation per Ounce is about:

£300.00.

3. The Average Reserve Valuation per Ounce, considering both reserves, is approximately:

£486.21.

These figures provide a sense of how the market is valuing each ounce of the mineral reserves, with the average offering a consolidated view across both reserves.

Calculations Kefi:

1. Approximately per ounce for the 0.74 million ounces proven reserve.

£44.59

2. Reserve Valuation per Ounce: Around per ounce for the 1.56 million ounces reserve.

£21.15

3. Total Resource Valuation per Ounce: About per ounce for the total resource of 2.3 million ounces.

£14.35

Greatland has to pay for its portion of the development.

Direct comparison:

Kefi cost basis is lower.

Kefi is far further ahead. Greatland is at the DFS Stage.

Greatland is looking at a resource upgrade and has other yet to explore acerage.

We've been advised that Kefi's resources will likely double. Kefi has two other large projects at the PFS and DFS stages.

The money produced by each mine will be the same $$$ per oz, in fact more so for Kefi as the costs are cheaper. A lot of the discount seems to be due to the market writing off Kefi's chances of getting funding.

Largest ipo in a decade in North of America and it was to raise capital to develop a gold project in Ethiopia and akin to Tulu Kapi, days after the law change. .

Kefi has one of the largest Jorc certified

resources net to its account on Aim.

Valued around $5B at a gold price of $1600. Gold is now above $2000. Which now puts it over $6B.

In the recent interview, Harry explains they expect to double that with the current licences. Resource expansion drilling hasn't been done yet.

So a lot of room to grow after production has started.

The sea change that many have missed, even some familiar with Kefi it seems, is the changes to capital control laws.

It allows funding to happen as money can be taken out of the country. Now, a few weeks later, other companies are getting funding and coming in country for gold projects.

This hasn't happened before. The proof is in the pudding as they say. The bank has now advised Kefi on a sign off date.

This has all happened in weeks, many aren't aware yet.

Look at EEE, £65m market cap. Not even a resource estimate value? I doubt they’ll end up with anywhere near $5B net to them by the time they look at development.

The valuation mismatch on Kefi is now huge - It was warranted when there was little possibility of achieving funded status.

Most still unaware of how significant the change in law has been for Kefi.

Look at other miners and what the market caps Vs the net resource value is?

No one wanted it at .55 then .60 then .65 now .70

Kefis fair value on funding sign off is over 2p imv.

That's looking at what Allied Gold paid for their project per Moz or looking across to other miners.

A nice buy and hold for the next two years.