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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kefi Gold And Copper Plc | KEFI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.006 | -1.06% | 0.56 | 14:15:52 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.552 | 0.552 | 0.56 | 0.566 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 17/4/2024 09:30 by jaylett The back catalogue is extraordinary.`One-wgoatherd - 18 Feb 2024 Kefi Minerals 2020 and beyond - KEFI andysand, It is not a fiasco. It is a cleverly constructed plan that hit a few unfortunate bumps, and probably underestimated that corruption and inertia that is Africa. But that is behind us, and I say, with a great deal of confidence, that funding will be with us soon. If not this month (which I expect), then soon afterwards. goatherd - 08 Jan 2024 Kefi Minerals 2020 and beyond - KEFI Tax Loss, Not "plucked out of thin air". There is a Kefi webcast on that day. I think it very likely that there will be news before then. goatherd - 02 Oct 2023 Kefi Minerals 2020 and beyond - KEFI You are so wrong. I am entirely confident here. And soon too. goatherd - 01 Jun 2023 Is KEFI about to come good? - KEFI But I truly believe Kefi has a great future and, at these prices, it is an unbelievable good buy. goatherd - 11 Nov 2022 Kefi Minerals 2020 and beyond - KEFI But, surely, kefi HAS got their funding; as we will learn on Tuesday (or, perhaps, Wednesday). |
Posted at 14/4/2024 09:35 by robjm66 Back to kefi unusual that kefi put out a presentation along with a proactive piece guess the have done so as the gold price means the underlying conditions have changed for kefi..Tulu Kapi Gold Project - NPV at $2,166/oz is 7.8 pence per KEFI share (still does not reflect the current gold price but better) In-situ value of KEFI’s gold is US$3.6B at today’s spot. Saudi Arabia Projects - value indicator at $1,500/oz gold-equiv production 1.2p: (Well not about to start producing from JQ will need DFS done first but when it does start producing gold price could well be a multiple of 1500.) Continue arranging development financing at level of operating company Regional Stock Exchange Initiatives for Growth Pipeline (kind of mixed messages here but maybe that is the idea see which country offers the best deal). |
Posted at 10/4/2024 13:50 by master rsi Thanks DouglasThe link working Kefi Gold and Copper PLC 10 January 2024 - voxmarkets Significant Progress on Tulu Kapi Gold Project US$320 million Finance Package KEFI Gold and Copper PLC (AIM: KEFI), an early mover and successful explorer in the highly prospective Arabian Nubian Shield, is pleased to announce that it has received confirmation of conditional final credit committee approval from the lead lender for its "shovel-ready" Ethiopian development project, the high-grade Tulu Kapi Gold Project (the "Project"). This followed the analogous approvals from other key syndicate members including lead contractors and lead equity parties, and the previously reported actions by the Government of Ethiopia ("Government") during 2023. Key Government actions include the previously negotiated and reported exemptions from foreign exchange restrictions, commitments to provide permanent security protection and the approval of additional protections for the lenders for the Project. The receipt of these conditional approvals is testament to the collaborative and long-standing supportive attitude of Project syndicate parties. The entire US$320 million finance package is designed at the subsidiary level, with syndicate members who know the country and are keen to support in our tightly coordinated and safe manner. KEFI is now mobilising into the field to prepare the community, so far having briefed church leaders and congregations, and distributed medical treatment for the victims of the recent malaria outbreak, via the Tulu Kapi Charitable Endowment. For good order, the introductory presentation made available to the community has been uploaded to the KEFI website and is accessible via the following link: hxxps://www.kefi-gol In parallel with the social engagement programme, we are preparing detailed definitive documentation for signing between the Project syndicate financiers. Full Project launch, including funding drawdown, is on course for H1 2024, subject to the satisfaction of all the standard conditions precedent for a transaction of this type, independent confirmation that the Project is ready for launch from security and community standpoints, and final board approvals of all parties. Speaking from the Future Minerals Forum in Saudi Arabia, where KEFI has been the technical partner in the highly successful Gold and Minerals SLA since 2008, Harry Anagnostaras-Adams, Executive Chairman of KEFI Gold and Copper, commented: "The Ethiopian Government and the lead syndicate members of our high-grade Tulu Kapi Gold Project have been working hard to support our Project launch. The Government has recently made strong commitments including approving country membership (a set of protections for development finance institutions) for both of our Project lenders, deregulation of exchange controls and commitment to the preparation of security and our community. These Government initiatives have played a very important supportive role in allowing the Project to move forward. "By the end of 2023, we had updated all independent technical due diligence and reaffirmed conditional approvals by all lead members of the Project syndicate, including conditional final credit committee approval of the lead lender. This has now given us the confidence to trigger preparations for Project launch, including progressing the approvals by the other syndicate members, preparing security and community, the readiness of which will be independently assessed, finalising legal documentation and the final board approvals for financial closing by all syndicate members. "The targeted value-add from Project implementation is many times today's KEFI share price, as illustrated from the various industry-standard valuation benchmarks historically reported in our corporate presentations. KEFI believes these are realistic targets as we successfully implement KEFI's strictly risk-managed development plans, whilst also addressing our highly prospective exploration pipeline in both Ethiopia and Saudi Arabia." |
Posted at 30/3/2024 19:24 by robjm66 The boss of Allied gold wants to repeat what he did at Yamana gold and build the operation into a million ounces a year operation and he made that clear in a recent interview. Ivanhoe Electric could scale up their whole Geo side (which is why maaden JVed with them in the first place) and would be easy to combine the two operations.The wild cards are if kefi got the areas that were over pegged in Ethiopia it would make them a much bigger attraction for Allied as they are thinking the bigger the better. In Saudi probably Artar would not want kefi taken over but cannot see how they could stop it unless they outbid any offer. Realistically kefi prospects are worth a lot more if broken apart and a bidder could buy out kefi and sell on the pieces it does not want. The main protection in the past has been prospects being too small or mineral prices being to low but kefi are making more discoveries and the copper and gold prices keeps going up. |
Posted at 30/3/2024 17:37 by xb6 There is some quite interesting chat about a pending takeover here over on L.S.E and to be honest i think there could be something behind it.These 2 posts caught my eye and worth a read. The timing for a bidder would be excellent IMOToday - 11.52am "NickE,i do not think their is much of an overhang left here, as with all AIM placings most was pre-sold anyway long before announced. All i am saying is the recent surge in gold prices will have focussed minds even further on available prized assets and we should standby for fireworks , the TK funding is somewhat of a side issue to a buyer because they would sort their own funding in a heartbeat . That is the risk that the current consortium are running by the delays and will serve them right if the assets are taken from right under their noses by a larger outfit. I am sure Harry will do very well out of it should this takeover happen and still be involved at the sharp end. Consider this, if Newmont or Allied wanted to assemble some shovel ready assets in both Saudi and Ethiopia what would they need to pay and how long would it take them to do it and reach commerciality levels ? i suspect it would cost them more than 3 times value of Kefi market value and take them 5 years or more just to get all the licences ,drilling permissions,and permits etc let alone be anywhere near producing anything.....we know that both Saudi and Ethiopia are now being eyed by the worlds largest miners for some large investments into the sector in those countries...with a buyout of Kefi than can get right into the action for a fraction of the cost and on a timescale to beneft from the bullish foreseeable gold price. It is game on here IMO " Today - 10am "NickE, in business there is no sentiment mate, it comes down to pure economics ,kefi has prized assets that others want which they would have difficulty and be far more expensive to source elsewhere - that is the bottom line . Harry,s role could be carried over into the new company should that be desired,but the big difference for him would be having the financial resources on tap to fully exploit these fantastic opportunities with that key first mover advantage. Do we think the likes of Newmont or Allied would be interested in taking over Kefi fully ? Of course they would because their other potential routes into both Saudi and Ethiopia would cost them a heck of alot more and take several more years even to get at the stage Kefi are at now. For those reasons we are a PRIME target right now and we could be on the very cusp of some exciting new developments indeed IMVHO, the market will respond accordingly with the real possibilty of several baggers pending here." VERY INTERESTING AND FOOD FOR THOUGHT ? |
Posted at 26/3/2024 11:43 by robjm66 StartHarry conducted general meeting motions passed..webinar taking questions after short presentation.. Edit Presentation slide one companies now in the Arabian shield area industry now arriving by the plane load. Current Priorities slide. government partner spending money now moved onto second bank approval. Approval from large organisations huge companies and government involved. All focused on closing and launching. Saudi significant rate of expansion Kefi being encouraged by competitive pressure to expand more quickly. Pipeline of projects. Now the company in effect has pulled together partnerships kefi doing things for the first time in a frontier market. Talks about Npv and how undervalued kefi it is ditto slide comparing kefi to other companies. TK Project economics slide viable at 1200 but shows other values up to and over 2000. Slide expected milestones walks through milestones 90 percent through as taken as a complete package. “Only when you know both banks approvals are in you back pocket”(open wallet)” closing funds start to get drawdown in correct sequence. Now in the business of closing an optimizing been approached be interested parties now we are close. Saudi two projects growing, between those project they will dwarf TK financing done at subsidiary level. Regional exploration lots of license areas the third parties wanting to engage and invest in our business. Questions Q. Saudi listing? A. We came to the view they are not ready for a pre production company. Ethiopia asking us to dual list in Ethiopia we think they are read and they have a new stock exchange. Q. Would you consider to sell off TK to concentrate on Saudi. A.Not a priority at this time. Q. Value of assets considering gold price? A. Covered in presentation capped at a fraction of TK when we bring on the Saudi project plenty of upside. Q. Binding contracts when? A. Complete drafting, big meeting then refresh numbers then sign. Q. Second bank sign off? A. First bank took longer than we thought called meeting then bank gave it approval in December announced in January second bank in the committee, initial part could be this month and the final part next month. Q. Recent raise why nor wait longer to raise at higher price? A. Mismatch with the fine print. What we intended to do was not raise till later but had to clean up the balance for closing. Q Lack of updates? A.Company make an average of three Rns per month our a month, 13 since October we announce anything material. Q Why are we still waiting on second bank? A. See previous answer bank took longer than expected but we are expecting news from their soon. Q Slow government pace do they deserve the benefits? A. The community deserves the benefits. Q. What hope for long term shareholders? A. Sector out of favour lost time due to wobbles but upside is huge on frontier markets. Potential twelve times upside with most of the senior people taking their wages in shares we agree that it been elusive so far. Q.4.3 billion gold why no bigger investors? A. Companies have rules over market cap that inhibit investment into companies under 100 million market cap.(Think Harry a bit complacent here with Ivanhoe getting license areas around kefis). Q. Exploration licence areas returned? A. With the ministry so cannot discuss. Q In Sauid where will funding come from? A. Capital will be broken down into segmentsin Saudi six percent after Sidf loan and partner we can bring in more financiers any number of things we kefi are putting up a tiny drop in the bracket. Q Lowest investment value and how can I invest? A.(think this question went over Harry and co head and you could hardily expect them to recommend when they thought the company would be at a low point) Q Why difficulty in getting TK over the line? A. See previous answers. Q. Saudi to provide funding for TK? A. There is enough money in Saudi but no track record of investing in mines Ethiopia. Hot topic may be chance for investment in the future in other mining projects (including kefi projects). Q. Conditional approval? A. Everything is conditional from mortgages banks always have conditions. Q. Sidf loan why not already used? A. We would not borrow money for exploration (from Saudi?) Q. Grants funding announced recently in Saudi for exploration areas? A. We are going through the fine print on that we will see. Q. Community resettlement when? A. Responsibility of the government and guided by rules. Complex process. (post launch) Q. Dividends? A. Philsopically yes we are for it. Q. Milestones? A. Host land survey, final documentation, early earth works commenced. everyone wants to proceed companies pegging around us in KSA and offering us deals wonderful relief piece of cake compared to what it was. Q. Knowledge and management transfer? A. More locals involved in business. Q. What's needed for sign offs? A. It’s a process. Q. More delays due to conflict in region? A. Problem is the place where TK is erratic in out breaks green zone that occasionally flashes red needed government guarantees had to invent another solution that you will see shortly. Likely have a third round of peace talks. Meanwhile will have security. Both government and the rebels want TK to go ahead. Closing comments. We are transparent what we are trying to do is communicate, we are natural optimist we get it wrong occasionally. You have the privilege to go in and out of a stock when you want we are restricted but we understand the frustration of shareholders I have given ten years to this project it better bloody well pay off watch this space. |
Posted at 20/3/2024 17:43 by robjm66 While Harry may take a less prominent role as kefi expands and transitions to a mid cap producer not likely to leave for a couple of years unless the Kefi parent company is taken over.You will not get any big shareholder revolt unless Artar or the Ethiopians are unhappy. The Ethiopians know Harry will keep pushing to help get TK and the Ethiopian mining industry off the ground even when most people would have given up and Artar know kefi is the golden goose discovery wise. However as soon as it looks 100 percent definite that one of the projects will get over the line I would not be surprised if kefi gets taken out due to the disparity between the resources it has and the market cap. Especially with copper and gold prices looking good and in golds case likely to go higher and the recent discoveries added to the ones already made and the big exploration portfolio. If you really want to get rid of Harry you should be contacting mining companies that might be interested in kefis resources but have not noticed kefi as it has flown under the radar due to its sub 100 million dollars market cap rather than just bad mouthing the companies resources or trying to organise a massive revolt of three or four percent of shares. |
Posted at 12/3/2024 07:44 by robjm66 From kefi website Q and A sectionVarious questions regarding Tulu Kapi Q: What is the timetable for Tulu Kapi development? A: It is expected to be a 24-month development program from mid-2024. Q. How confident are you that the exploration areas around TK will be returned to Kefi? A. No update to the statement in the Q4 Operational Update released on 24 January 2024: “We have commenced administrative proceedings in respect of our long-standing proximal Exploration Licenses (“ELs”) surrounding the Tulu Kapi Project Mining Licence area, in order to continue exploration programmes and community development which have always complemented the Tulu Kapi project. During an overhaul of the title-regulatory system in 2022, these ELs were over-pegged by a Hong Kong shell company owned by a British Virgin Islands shell company. We are confident that this situation can be resolved satisfactorily." Q: What changed to make you change your previously stated position that KEFI would not raise at the PLC level before financing had completed? A: The intention has always been to minimise dilution to KEFI shareholders and TK is being project financed at the subsidiary level for that reason. Our project financing of $320M needs certain things done now by KEFI in order that we can launch the project, hence the requirement for the PLC raise. The estimated fully-diluted intrinsic value of Tulu Kapi is multiples of today’s share price and further enhanced by the Saudi assets and exploration assets. But we need to pay for certain project launch costs so that the large financing can close. Q: How will KEFI fund themselves for the two years whilst TKGM build the mine in Ethiopia? A: The project finance plans in both Ethiopia and Saudi Arabia take those costs into account. But no one in a pre-production company can warrant that shareholder capital will never be required. That would not be reasonable. We can only transparently explain our intentions and plans. Q: How do you feel coming to the webinars, basically saying for the last two years (at least) that the financing is definitely happening and imminent, yet here we are, still waiting for it and no fixed timetable set? A: That is not accurate. The Ethiopian national state of emergency ended in February 2022, the syndicate met and signed their Initial Umbrella Agreement in June 2022 to re-prepare for project launch. We consistently set out key conditions precedent as being security upgrade, country membership for AFC for Ethiopia to treat that bank the same as TDB, and exemption from capital controls. We signed the Final Umbrella Agreement in mid-2023 and we reported as follows: “Along with the rest of the Project finance syndicate, the co-lenders have issued conditional approvals subject to the Ethiopian Government’s formal confirmation of the few remaining outstanding items, notably clarification of the details of capital controls for internationally syndicated project financings. Whilst the principles have already been approved for TKGM, specific working rules are being considered to ensure the Project can operate smoothly.” Upon finally receiving public declaration in October 2023 of the requested details of exemption from capital controls, the syndicate met in Addis Ababa in November 2023, the lead-lender issued final credit committee approval in December 2023, that was reported in January 2024 and the progress since then will be updated when so approved by the syndicate. This has obviously and regretfully all taken longer than we expected or wished. If KEFI itself were funding everything we may have been quicker, but that is not really the issue at hand because the conditions of the host country and its regulatory reforms needed to be addressed satisfactorily for anyone to deploy money and people. Shareholders’ best interests required us to await the lifting of the state of emergency and to await the requested fine print of, inter alia, the exemption from capital controls. No-one in the syndicate is doing anything to waste their time and money. They are just being careful. And it is KEFI’s overriding responsibility to protect all parties’ human and financial capital in a country that became very challenging after our arrival and is now settling down again. It is encouraging that Ethiopia is once again reportedly back into the top 10 rank for growth countries. Q: Did it surprise you that the two main Tulu Kapi financing banks did not carry out their due diligence concurrently rather than consecutively? A: That is not correct. Due diligence was concurrent. Formal approvals sequencing is a chain of dominos. Posted 12 March 2024 |
Posted at 05/3/2024 10:03 by james japp Peter?1deedee - 26 Mar 2023 - 12:33:49 - 1609 of 4737 Is KEFI about to come good? - KEFI Thought this was a great post from Simms on the other board. The key to Harry interview was he said bank is injecting more cash so that implies Kefi probably got the extra £10m it was agreeing with EG was part of its equity. This would have allowed Kefi to access more borrowing. This will mean we will have almost $100m of sweat equity in this project with even less minimal dilution. Seriously if he pulls this off we are all going go be in a very good place. I mean we literally add $100m to the market cap as all of Harrys pina colladas and sun lounger rentals :) will be counted as equity. Its a big deal. Most gold miners raising $380m would need to pony up $100m and that would be a massive dilution but we have agreement on last 10 years of investment to be counted. On top of this We have warrants tripping at 1.6 that was designed as our equity. So bear in mind TKGM will make a payment to Kefi around $10m on financial closure that coupled with warrants is plenty of cash to fund Saudi. The 25-30% discussed probably means 30% if we get TK confirmed in next few weeks or it means 25% as we will have to let Saudi dilute as Harry must first guarantee TK is settled. he can do a raise prior to TK close as it would jeopardise all his warrants and could kill TK off at this stage. We will see but this is the potential deal of the decade. It all sounds too good to be true in all fairness and why we have had so many years of pain as pis. Will it be 4th or 10th time lucky i am not sure but having followed last few years twists and turns i have never had this level of real information coming from EG and Harry so it looks that it could be. Next week could start an explosive northwards march if the market gets wind of news or if we get some RNS update. For sure 1.6 will be a key landing point as if we hit 2.4 for 10 consecutive days we raise cash on the warrants. This will propel company onwards as that cash will fund Kefi and Saudi especially if banks are now lending more to the project as Harry explained. I am still amazed how low the market cap is of Kefi at £35m??? That is insane when we will be worth £150m after this first deal and then penny drops and Saudi will have full value as today its valued at 0. In 12 months £200m is not out of the question if everything falls into place. That is 7x todays valuation for the company and some would consider this a low valuation. Certainly £150m seems very easily achievable as that is just adding in our $100m sweat equity. Gla and dyor |
Posted at 05/3/2024 06:22 by nick2412 A lot of bull points for Kefi but my concern is they will have to use £3.5m of the funds raised to reimburse the £3.5m ARTAR deferred for KEFI's proportion of the 2023 £19m exploration costs that Kefi were unable to pay. The information was, as is typical with Kefi, not completely clear but I assume this wasn't an indefinite loan or a loan that can be paid back when production starts.Will exploration costs for Saudi go down this year? If not, then Kefi will have an additional £4.75m to pay for 2024 to retain the 25% stake. It looks like ARTAR is reasonable and wants Kefi as a partner, but shareholders don't know the terms of the deferred amount due and presumably interest will be applied as well. Of course, if the share price goes higher then the warrants may kick in resulting in less dilution than future placings. I also can't see clarity on the shortfall of £20m due for Tulu Kapi in terms of the specifics of subsidiary funding. How will this impact valuation? Presumably resulting in Kefi having a reduced % interest in Tulu Kapi which is better in my view than dilution for the listed shares. Lots of positive news to come in both Saudi and Tulu Kapi but balanced by the remaining question marks about funding and potential further dilution. |
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