Member Info for Xhita

They can't talk about Ethiopia without mentioning the risks to security. It's a similar story across Africa .

Just 4 countries in Africa that aren't in conflict, at risk of conflict or engaged in tribal issues.

Ethiopia is s quite normal in the region

HTTps://www.bbc.com/news/articles/cz750q5e3w3o

Crazytowner. Not so crazy after all.

You are exactly right.

There appears to be a contingent of mentally ill people trolling kefi and Harry Adams.

He is a bit dull but knows his stuff and had kefi sat on the edge of success whilst some prey for failure.

Mental

Seadoc Kefi are 86% of the mine. If something happened with the mine that required emergency funding Kefi would need to find 86% of it. TKGM is a subsidiary of kefi to the tune of 86%. TKGM isn't listed and is funded by the Ethiopian government and kefi.

The flexibility is required but that doesn't mean it will be used.

I hope they attack the exploration aggressively. Harry says they won't be running amok. I hope they find something to spend the $6m first pass drilling.

First though we need to be updated on some exploration licenses. Coming very soon

Seadoc you do realise that it's fundamental to the loans from the bank that are building TK. It's a risk mitigation the banks are right to demand. If the management can't raise money to cover unexpected and unlikely events then the project and the banks money is at risk.

It seems to me that Harry works hard for less than industry average money. Did anyone else open a mine with loan money.... No.

Goldqueen would you rather have 1. the shares in issue now and one mine or 2. double the shares and 6 mines.

If you answer option 1 then it defines your mentality

There will always be an equity part of any project. No bank will lend money without equity.

This is a new gold district but in 12 months time it will be swarming. Kefi can't afford to wait.

Yes I don't want to tie their hands

It's important to understand Harrys role now. He has zero impact or input in TK. He is reported to by the COO and has an overview. He has nothing to do with the day to day running. The contractors report to the COO.

The COO runs the show, manages jointly the budget with TKGM CFO He is the interface between the TKGM appointed contractors and TKGM then Kefi/Ethiopian government

Harry is running Kefi, he is creating the direction with Jeff for exploration and ultimately other mines that won't involve TKGM.

Harrys worth is his relationship with Ethiopia and the PM. KEFI are focused on energising TKGM to open Tula Kapi but Kefi are building a mining company not a mine. They are likely targeting interest in 6 mines in 6 to 8 years. Right now the sticking point is access to exploration land. The PM will organise it for Kefi, this is the Harry advantage. It's almost impossible right now to secure any exploration land. Applications are sitting unfilled, live licences are going to get much harder and more expensive to hold on to. There is almost zero land available by application methods.

Kefi are looking for 800 sqkm in 4 areas. There's no public application. This is happening because TKGM are the first to open a mine to the exceptional standards Ethiopia now wants. This opens doors, Harry opens doors.

Without Harry we'll have one mine.

So dilution, yes we may see dilution to take these opportunities. Lots can be achieved with $6 or 8m but personally I want to see them move rapidly. It's why they are moving to o the main market. institutions don't buy in the open market. Harry said already the new institutions are looking to add more over time.

I say go kefi, grab what you can and spend to create more opportunities.

My view on this has changed since I spoke with certain people and found out the background. The shareholders have been waiting years and now the opportunities are hot. In 6 months it'll be too late.

"Kefi plans to produce well over 100,000 ounces at significantly lower AISC (All-Inclusive Servicing Costs)"

What changed they initially target 160k then 200k when underground higher grade is added.

Seadoc I voted my support online already on my 5 accounts, around 32m shares so a drop in the ocean.

I will be in Cyprus AGM time but I hope to get a flight still and be there.

Largely I very much support their actions so really there's no point to go.

Those who don't well it's up to them. All I would say is without Harry and without the banks you have nothing.

Rob just imagine if they had diluted for SA. Now they could own 50%.

I just don't understand why people are thinking so small time. This is a opportunity, it needs grabbing and aggressively pursuing.

Why would anyone want to sit saving money paying the board for doing nothing.

Fantasy it's irrelevant how long it has been as Kefi had to wait for banks to support the project which they do now. TK wasn't viable at $1500 an oz so it wasn't going to find funding. KEFI moved through to discovery in a similar time to others at the time. Since then it's been stalled for several reasons that has now changed.

Whilst the window is open to hey need to get moving on other discoveries and they can't wait for TK to reach profit before they do so. It's clear from the cadastre that opportunities are limited and the PM will have to intervene to gain access. Once they have exploration rights they will likely have to commit to a couple of million spend on each 200sqkm.

I don't know anyone who invests for the past, I invest for the future. Now things are very different. Ethiopia is opening up and big money will arrive soon.

KEFI has choices. They can just stick to TK and we'll all do well, they can take early mover and connections advantage and grab several other big projects.

In 18 months those choices won't be available.

$6m buys a lot of rock kicking, trenching, soul sampling and drilling. However you don't get a mine chance like TK by spending a few million. They'll need $50m to get anything moving quickly.

Yes I hope for discoveries, yes I hope for dilution to rapidly develop those and yes I hope for an aggressive stance to those matters.

Why do you think they want to move to the main market???

I hope he isn't reducing spending. Why would he. They are fully funded. The management function is now directed at TKGM so funded from the project capital.

Funds were raised for aggressive licensing and exploration. They will have to pay for licences they are all coming with drill and exploration commitments now.

They are seeking around 800 sqkm of exploration land currently under application. This isn't going to be cheap.

Why bring jeff back and "conserve" funds.

As a shareholder I want them to be much more aggressive about adding value.

I think some people aren't understanding what has changed. Why Kefi waited and why now is the time.

In 12 or 18 months it'll be too late.

If you just want them to sit on their hands adding nothing and wasting salaries with no return then that's just mental.

I want them out on the ground looking for the type of shear controlling structures they see at TK.

Many years ago I worked in exploration 1998 until 2015 and the biggest issue wasn't licences they were 2 a penny. It was getting the sponsor to commit to the next stage. Waiting months for drill funding as the sponsor had to raise funds on the market .

In Turkey we spent 3 years going from soil to trench to rock to initial drilling. That turned into a mine for the AIM listed company but took 10 years. KEFI can do that in 12 months with funding.

If they wait until cash is flowing they will be too late.

That's what the funding is about. The cadastre shows Ethiopia on the 3 shield zones totally covered in applications and licences. KEFI must move now or miss out.

The pack are arriving. This is s a massively exciting time and Kefi need to spend or miss out.

This is an interesting point. I really like the fixed price contracts. I use them very regularly within construction contracts. They often mean the initial figure is higher but the performance is much higher. Delivery on schedule becomes the target of the contractor not the people driving the contractor. BCM have been on-site for months now. They are funding the mining fleet and have responsibility for fleet maintenance, breakdowns and replacement. This is a major risk in isolated landlocked regions. Caterpillar has a substantial dealer network and access to parts globally in rapid time.

"Nine-year mining services contracts exceeding US$400 million are genuinely uncommon in sub-Saharan Africa outside of established Tier 1 jurisdictions such as Ghana, South Africa, and Tanzania. The BCM arrangement's most unusual feature is the contractor's US$23 million pre-production equity contribution. This converts BCM from a fee-for-service provider into a project syndicate participant with skin in the game, aligning its financial interests with production timelines and output targets rather than simply billing hours.

That structural alignment is a material differentiator. Mining services contracts that incentivise contractors based purely on activity metrics rather than project outcomes have a documented history of contributing to cost overruns and commissioning delays in frontier markets. BCM's capital commitment introduces a countervailing incentive"

fantasy why are you commenting. i didn't force you to read what i wrote. who are you anyway?

one or two people with multiple identities, trolling haters, hate campaign against the ceo and the company.

just ******s or something else?

why not go an hang placards on the fence at tula kapi.

i see a mine being built and a very low entry price. the haters are grasping at straws.

it seems like harry has upset the children

Reading some of the nonsense on this thread I realise how ridiculous this effort to derail kefi and HAA is.

So the banks don't need management flexibility to address unforseen events. I think they do.

I don't understand why everyone is so angry about dilution.

Mines don't get built without equity input. HAA has banks and contractors funding the bulk of the requirements.

Of course there's been dilution, hopefully there's more in the future. Without dilution there's nothing to fund.

If they are building a mining company with multiple assets there's obviously going to be dilution.

There's absolutely no grounds to complain about a placing where now on the open market you can buy at well below the placing price.

I don't understand why people can't just accept the mine is being built. It's $400m including the mining fleet. Most of that is debt that's been gained through rigourous bank checks. This supports the professional quality of the company. If they were funding in house alarms would be flashing.

Force majour is in every contract, it's in everyone of my contracts, very rarely is it ever used to cover delay. In Kefi case it would be a massive and devastating earthquake, a war that is directly around the minesite this type of event. If you didn't start something because of force majour nothing would ever happen.

As you may be aware by my name my first language is Maltese. Spanish is my daily language, both cross into English language around 200 years ago before it was destroyed.

How it's been abused doesn't interest me. If someone is queer or something is queer or a situation has been queered it's unusual, it's strange, it's oddball

Bicho raro

HTTps://youtu.be/SAwAiNHiais?is=39lSg79fwLBf090u

I follow this guy on the tube. He knows his stuff. It's for Americans Investing so I ignore that but his view on gold and silver has been well informed

That's funny, so you don't find their view strange and unusual. I thought it was quite fitting.

If you thought it was a transgender or sexual orientation issue then you are wrong despite their name being "queen"

English is my third language and I use it quite literally. Queer is a word used a lot in many countries to mean something not quite right, unusual or wrong where you can't quite quantify it.

If you feel offended then please report me or block me.

Absolutely no 5h1ts given by me.

Slightly up on the week but we have learnt a lot with the webinar and the Mining services contract.

We can clearly see this project is happening, it's on schedule and whilst there's a long way to go the timeline is very relaxed and the contractors are on a fixed payment so will be hitting is every light hour.

If the market wants to value it like this then I am happy to play along.

It's full on summer here and 3 months of 40°. We'll know a lot more soon

Carefree yes indeed. The rainy season isn't extreme, it long and not an issue.

I haven't been on the plateau for 10 years or more but they manage it every year without drama.

Goldqueer is your typical know-it-all spouting nonsense from their spare bedroom wearing just their Y fronts