Member Info for Xhita

Hong Kong Xingxu Investment Co hold multiple exploration licenses covering thousands of sq kms.

Can you provide the exploration license numbers for Kefi so I can research them. Currently I can't see any.

There are 2 applications pending payment to the North west Bright minerals and Shalomega. These are currently insecure pending.

They also have an exploration license on 400sq km to the North of TK.

Catbert are you talking about MOM\EL\0005\22. This completely surrounds Tula Kapi and is 393 sq kms. This covers all the area to the west and north west

The thing to understand about the proximal licenses to TK is they are currently held until March 2028 by Hong Kong Xingxu investment company as exploration license only. It has been in force since 2022. The initial discoveries are held by Kefi. Nothing that Kefi found is big enough for a mine so it will be vacated in due course.

If they aren't actively progressing and spending the required amount it is a simple challenge.

It's possible that another party could approach Kefi to contract mine a resource nearby but obviously Kefi would be very tight on the terms as they hold all the cards

Indeed we are in the period before dawn. The sky is dark, off to the east is the first glimpse of light. The forecast is good and the sky is cloud free but until you see the sun over the horizon it counts for nothing.

It's going to be a beautiful day, a factor 50 day.

Magic I don't care what the share count is. It's irrelevant if the money is well spent and assets are added in excess of the dilution.

If they dilute a few million to add 19 million I am not complaining.

Either you allow them to run the business or you don't.

Dilution is a fact I'm exploration

There seems to be this idea that nominees are private investors. It's not the case. Many institutions hold through nominees.

The share float is really small in my opinion. Certainly no more than 1%

When you have open ended drill results what's the chances of it ending there. When you have a few areas of high grade in a core what's the chances of it being the only high grade zone. There's massive potential to expand the resource and to discover new material. The cut off at TK is optimised for the plant, adding further capacity is quick and cheap and then a whole load can be added from day one.

The region and KEFI will be 10m Oz as an absolute minimum. KEFI are in prime position.

08:58:08 1.128 611,702 Sell* 6,900 A

My buy showing as a sell. I think this is happening quite a lot meaning the overhang isn't necessarily as large as the maths suggests.

Of my last 11 buys 9 have been reported as sells.

Buried treasure. You are mentally ill.

Filtered

That's a ridiculous thing to say.

The construction is on schedule. You can see the schedule and they are on it.

It couldn't happen until the circumstances were correct and they are now.

You invest for the future not the past.

I just bought another 611702 to add to my pot.

If you can't see a gift I have no interest in helping you

Vitautus. No quite true but I get your point.

The government side is moving. The access road cut is in and surface works are ongoing. It looks like a rolled compressed hard surface. The EEP are working on their December schedule for the high power connection and substations. This isn't needed until April or may 27 but will be complete in December.

Ultimately they have access to the parts they need now with phase one ongoing. Much of the area won't be needed for another 12 months and some of it in a couple of years.

Obviously we all want it to get a move on but it's on schedule and that's all we need. At the end of summer we'll see the first footings trenching for the factory and mill pad, then it'll feel real.

This is a vanilla project, very standard mill, standard open pit with almost zero stripping. These are the projects Lycopodium hang their hats on.

As for the share price it's ridiculous. The update points to the idea it should be 4x the current at this stage. Yes in an informed investor location and better times it may well be.

Many including me are looking for it to attain it's pre construction valuation at first production. That must be achievable even in a dire market

It was always going to be bigger than the base case because of the underground and proximal. Once TK infrastructure is there adding heap leach or additional milling is cheap and scalable. TK will be 2.5m oz and 12 years as a base case. It's very clear what they have now is just the start.

The "waste" is higher grade than some bulk mines are running

Mornington. Why wouldn't it. The world hasn't stopped turning despite the existence of a moron in the white house. Gold is up on 12 months ago and that we I'll be the same result over years ahead.

It requires some faith now. Shareholders hands won't be held everyday.

The minute by minute share price is irrelevant now. The assets will be valued over time but it's not a linear process. We are extremely fortunate to o be able to add at these levels on such a project. I don't think it'll persist much longer but really who knows

Yes obviously everything is in the future which is why we are here today invested and waiting patiently.

It's absolutely clear the current market cap is ridiculous and will change over the months ahead.

The share price is controlled by macro events currently largely created by the strike price of the last placing which was prostitutional in my opinion. A substantial overhang weighs on the market and it's clear many are trading for 1 or 2% rather than investing on a 2 or 3 year hold.

The rerate will happen along with the construction of the mine. It won't be today or this week but it will happen.

Deedee I suspect if gold were $14000 oz in 2031 then everything globally would be a disaster. Trump has 2.5 years more to totally destroy the world economy and bankrupt America. He is well on course.

Whatever happens to physical gold will happen double to gold producers Transitioning developers into producers to he multiples will be 12x. The fairly standard 4x into full production plus the industry multiple. That's really quite possible from 1.2p I believe.

Based on gold at $8600 Oz.

I am not sure we would like at $14k oz world

Politically Ethiopia is more stable than the majority of Africa. The PM is about to deliver a massive election win. Yes some people are unhappy but Ethiopia is 135m people and the country has 5 official languages there will always be one group or another feeling under represented.

Politically Harry has the PM's ear and he gets what he wants.

As for exploration rights and opportunities. TK will be the only mine for miles. Nobody will build a mine for 300k oz except Kefi

The cadastre is an open book and full of known targets to the west of TK.

Crisu nobody owns it or needs to own it. They just have to o have an exploration license. There ar numerous very obvious exploration targets and it's also obvious that the control factors means it'll be a smaller discovery. Even at high gold prices nobody is going to open a mine there. However when you have as mine 2kms away then these become viable.

The discovery is in the cadastre and is accredited.

KEFI can reactivate the exploration if they want to and ultimately apply for a mining licence.

It's important to understand that in Ethiopia there will be maybe 500 or more masses of gold and metals. Nearly all aren't standalone capable or are low grade or complex. Only KEFI will have a mine 2kms away and this is only viable for KEFI.

Guji is most interesting because it's literally just outside the mine site. They could stage the heap leach on the TK site or supplement the mill grade with the higher grade material. Without the infrastructure at TK non of these would be viable. Ultimately the waste and tailings dumps at TK are grossly oversized for a reason. Guji is a shovel and truck at surface target. Probably shallow but to be drilled and tested.

The processing would be done within the existing permit.

I think that the estimates are very conservative and we could see a second mill and a 15 year mine life from TK and proximal pits. A second mill and extra capacity would cost around $150m and pay for itself in months