Member Info for Xhita

Nigel I don't know where that comes from. They will be profit making in 2028. The debt service is in the $1400 oz projected cost per oz so they won't be rushing to pay it off.

As Harry says a transfer of wealth from the impatient to the patient.

I expect conflict in the North and that may include Eritrea. However Tigray is a very depleted region. Currently they have few resources and limited fuel.

They are being squeezed by the government but they remain defiant and disorderly.

At the same time Ethiopia is pushing for access to the sea. Here really lies the opportunity. Ethiopia needs the sea port free from tax and fees Eritrea has an alliance in name only with Tigray. They are former enemies and the alliance remains only whilst they have a common enemy.

I expect clashes and probably a limited war.

It will have zero impact on Tula Kapi. Yes it may create some turbulence and some fear but ultimately it's not a threat. The Ethiopian government forces are much stronger now, there has been substantial investment.

There are local risks in Oromia but these are more a simmering pot than steaming to explode.

Ultimately Ethiopia needs access to the sea, the boss is a smart guy and he is pushing buttons right now

Yes definitely worth keeping an eye on, yes definitely worth being concerned about but ultimately it's not going to stop construction or production in 18 months time

# of Trades 665

Vol Sold 124,191,502

Vol Bought 96,540,049

Really a wtf week I think. All good as far as I am concerned. Hopefully anyone who paid over the placing price took the opportunity to balance their holding

target agreed. these are strange times. all manner of **** is occurring. my plan is to carry on regardless. ultimately is the mine going to be built--yes. is gold going to go up and down thousands of times during construction --yes. is the kefi share price going to move up and down thousands of times--yes. is the business worth more with the mine in production--yes.

so what difference does it make if my balance is currently red...... so i didn't buy at the bottom..... but at least i didn't sell at the bottom.

all to play for

I have already bought mine. It's maybe the 4th time I have said I have enough. Now I finally have enough

Hubstar.

The engineering packages are delivered the equipment is ordered so the payments have been made. The point is the cash within the business may not all be within the business now as some may have formed these payments.

Certainly the resettlement isn't an IOU they have been paid and the phase one people are either in rental temporary accomodation or within their new property.

Phase 2 will need to be advanced by August to allow bulk works to begin.

Lycopodium say the A$30.1m has also been paid and I tend to believe them.

My point being that the initial works are the engineering packages Harry referred to and the establishment of the team in country.

Obviously it's part of the planned project finance but I don't know how much if any is set aside or from with Kefi cash pile.

I reached out to Lycopodium, EEP and Dashen through industry press channels. Lycopodium were the last to reply.

That's interesting Hubstar. Lycopodium think they have been paid already.

This is from the Lycopodium press office.

KEFI has authorized a A$30.1 million limited notice to proceed for preliminary work on the Tulu Kapi Gold Project in Ethiopia. This initial funding covers early-stage engineering, supply, and labour hire.

HTTps://aje.news/k5mg32

Hubstar the equity is spent first before drawdown. I don't know how much of the cash is with TK project financing and how much within kefi business structure. We do know though for a fact that Lycopodium has already received at least $31m as part of their fee. We also know that at least phase one compensation and resettlement payments have been made.

The debt drawdown will be in stages I suspect and will commence in Q3 so in a couple of weeks onwards.

The big ticket items have been ordered, no doubt with a hefty payment, some of those are Lycopodium so part of the $31m.

We also know that management functions and therefore funding are within the project budget

Passing away is one thing, selling to the Chinese or a gold major for a quick win is another. It's happening already in Ethiopia and the government are intervening.

The Chinese have grabbed large chunks of exploration license and they are hunting cheap entry.

I have experience of Ethiopia. It matters who you shake hands with. Harry is an asset even if some think otherwise. He will deliver this mine and others before handing over to an Ethiopian CEO. This is how it works

Best you do that then fantasy because barring illness or accident he isn't going anywhere. Certain members of the boards continuity was required for the debt funding.

Certainly that's going to be Harry because he is a government "approved" asset in Ethiopia

Fantasy if you would take 2p then I was wrong about you, you are an idiot.

When it's 2p will you go because this is tiresome.

All the moaning and bleating is quite tiresome

Fantasy you are just showing you were wrong then.

Personally I would be ote against a 2.5x takeover attempt now because it's nothing compared to the potential.

I hope that's simple enough for you

Simms you are exactly right. We also need to remember that most people posting here would snap up a 2.5p takeover offer because they don't see the bigger picture.

I need this to be a 3x reward to make my goals. However I am invested for the 20 to 30x reward that's very possible on a 4 to 5 year window.

Incidentally my view on SA is it'll get the green light for construction this year and in 28 it will be in production.

I expect KEFI to debt fund to maintain at least 13% and they may take the option (apparently available) to increase their interest.

Simms I totally agree the concept and purpose were spot on. The strike price was wrong. The day before it opened at 1.635p and fluctuated throughout the session, hitting a low of 1.49p. Clearly the institutions in the know where manipulating the price down.

At 1.49p the discount was industry standard but I think in Kefi position even with the war just a couple of weeks old the deal was too cheap. They would have paid more and rather than lead a blind price they should have stated the strike price at first invitation.

However it was absolutely essential. In April Ethiopia ran out of Diesel and this was just one of the things harry was defending against.

Fantasy the day before the announcement the share price closed at 1.49p. the placing was at 1.2p. That's a standard discount applied

Clearly the funds raised so far have been well spent. TK is a world class asset with massive upside potential in construction fully funded.

It's ridiculous to o argue with that.

Of course if there are opportunities available that needs funds they should raise the hose funds.

Clearly the professional brokers opined that 1.2p was a fair ask on the last placing. I think that it was too low, I evidence this with the dramatic oversubscription of the offer and brutal scaling back if requests. At 1.4 or 1.5 it still would have filled.

However here we are just buying just over 1p so we can't complain as we have been able to buy below the placing price for weeks.

I'm this situation the comfort on the journey is irrelevant, it's arriving alive that counts.

As shareholders you just have to wait and not allow the twists and turns to steal your shares.

There will be trouble ahead. That's guaranteed.

Hold tight and add if you can, you can thank me later.

This really tells us the value of the priority status of TK.

hTTps://m.miningweekly.com/article/akobos-ethiopian-operations-normalise-following-fuel-supply-disruptions-2026-06-10

The timing was also fortunate for Kefi as ground operations with heavy equipment were very limited in April.