PSFYI I have never shorted an aim share in my life but I will absolutely call the bags if manure out and Kefi and the statements from it's CEO over the years have been one giant heap of it! |
"If they don't buy soon they will miss the boat"No the boat will only start to sail when money actually drops into the bank account which it hasn't. Since you created the other board the share only dropped as I said it would! Why you still stick nose in here beggars belief! Some neck!You've a long way to go to break even at 3p. I remember when you ramped it back to 3p by saying "3p by the end of the week". I remember that very clearly. We were just over a penny back then too. A very dangerous individual and folks should beware. There are a few rampers on this board and let me tell you I couldn't eat a whole one! Wolves in sheep's clothing! I think it would be prudent for folk to realise a few of you aren't exactly who you portray.No chance will he get the funding he thinks with these equity notes either... All imvho but I am often more right that wrong ;)Adams needs to go. Fking useless is an understatement. |
How is that ramping? Or foolish? |
Ramping fool |
I sometimes wonder whether the frequent posters (very frequent) ever bother to look at Kefi presentations, or, indeed, read the RNSs. This because they seem to have so very little knowledge or understanding of the problems facing Kefi, nor how they are being steadily (yes, perhaps slowly) overcome.
Still, if they don't buy soon they will miss the boat.
And I really hope, for their sake, anyone foolish enough to be short Kefi have very effective stops in place. Otherwise I think they will lose a packet, just as the rest of us are making a packet. |
Fart totally agree |
Nice Rob,
So, as we know first bank has approved $95m, and
1st share investor (Eth Gov) has commited and released $20m (security, resettling)
1st ERN ivestor has approved $15m
Capital expenditure and funding over apx 12 yrs of £100m to get to project launch,
And we henceforth have a mcap of £36m !! that accounts for just the 2 capital proceeds above,
NOTHING else, the actual mine projects Tulu Kapi, and Saudi valued at.. ZERO !!
Enormous disconnect |
Very promising. Excited to see what this and next week brings. Come on Kefi |
Kefi Africa downunder Video |
well its not the Albert Hall...yet. |
Got two African banks, local and national governments local and regional investors subsidiary's of international companies if they had any more institutions on board the would have to hire the Albert hall for the launch party. |
“These notes remain repayable in cash from operations”
“At US$2,500/oz gold, all bank debt can be repaid in 1st production year”
in KEFI equity (at KEFI’s election), convertible in year 4 (being year 2 of full production)
You can quibble over the numbers but kefi can clear it with out giving away any equity.
As for the local international investors its all gravy as they can move their profits around.
In anything I would not be surprised if there is a bun fight going on behind the scenes.
Slide 12 add the bits and bobs up and looks like they are being offered more money than they need.
My guess is the company is trying to do a balancing act trying to keep a high level of Ethiopian participation which will help a listing while keeping the ERN people happy probably anyone that losses out on TK will be offered an invite to post TK deals. |
Oof, much vitriol today!There is a picture of communist gatherings and information spread on twitter for you fellas. |
Generally, if an aim junior miner gets a bigger miner on board as a strategic investor/partner, it's a half decent project. If they have no other mining company on board the project is likely a dog.Just imho dyor! |
If you have a pager turn it off. |
Actually it is another sticking point and these aim companies love to have points to stick on with delay delay delays. Why? So directors can keep taking unjustified (Imo) salary from these non revenue explorers whilst maintaining the rhetoric of "hopium" knowing that there are many who are keen to part with their hard earned on the whims of their fumes. You were one of them no?? When did you first invest? |
12% PA!!!! LOL By year four they will owe an extra 48millionDesperation! Again have these actually been concreted or finalised??! I think not..Again all rhetoric and folk fall for it time and time again. UNTIL such times as finance is ALL signed and completed and first smelt sold I am happy to retain my stance and hopefully continue to save the innocent lambs of flushing their hard earned straight down the toilet as has been the case here for ten years! (Unless trading periodically) |
Not exactly acting like a share that’s gonna go into orbit in the next week or two is it? Hope HAA isn’t polishing off that dog eared copy of infinite excuses again |
FYI. Equity notes involve selling ownership in the company Rob. I will very much doubt they would get away with 12% If so the financeers would need their head read! Again it's just typical ol.Arry boy rhetoric as we have heard time and time over. Ten years of it! Nothing ever gets signed sealed or delivered. Don't get too excited ;)Ps I believe TW's calls have been absolutely horrendous over the years. He charges a sub too doesn't he... |
 Avaitor
March
“A positive development is that recent regulatory changes have facilitated the improvement to the equity funding structure which has lowered overall finance costs. The regulatory changes of note were the foreign exchange exemptions, the increase in the maximum permissible ratio of debt to equity from 70:30 to 80:20 and the deeming as foreign direct investment the re-investment of the local currency (Ethiopian BIRR) retained earnings of multi-national corporations (“MNC”) into new business sectors.”
“Within the development capital budget of US$320 million, US$100 million was to be provided through the issuance of two types of Equity Risk Notes (“ERN”), one type for MNC’s with no operations in Ethiopia and another lower-cost ERN for those with accumulated retained earnings in Ethiopian operations. The Company is pleased to report that it can now focus on the lower-cost ERN – fixed at 12% per annum. These notes remain repayable in cash from operations or, as a fall-back, in KEFI equity (at KEFI’s election), convertible in year 4 (being year 2 of full production) at the then prevailing KEFI share price.”
“being year 2 of full production” higher gold price now and by the time the mine built means kefi would be able to pay back from mine revenue with no dilution even at a much lower gold price (which I think highly unlikely) they could just borrow the money against future production.
August
“Studies being undertaken to increase processing capacity by a minimum of
20% as we now look to incorporate the addition of underground mine
development, having already set the open pit mining rate at above the
nameplate capacity of the process plant. Studies suggest this increased
capacity can be achieved within existing capex and opex forecasts”
And
“local investors in Equity Risk Notes requested to formally resolve their level of
participation by the end of August 2024 so that other regional investors know
what is available for finalization by them in September” They are actually pushing to invest probably been a delay due to devaluation of the Birr affecting the numbers and kefi wanting to use the reduced capex launch the mine under the mine early.
The local investors will probably include international companies that find it hard to repatriate profits in Birr into dollars.
Snippit from the TW meeting "They are dotting the eyes and crossing the t’s, to the point that there are people currently putting together options for post-finance deals at subsidiary level which may or may not be required depending on local equity subscriptions."
"post-finance deals at subsidiary level which may or may not be required depending on local equity subscriptions." So might actually be some over spill from local Equity subscriptions that would be used for post TK deals.
Thanks for your question Avaitor going back over the detail even more confident that eventually kefi will get there with TK. |
And let's ask the realistic question about who will REALLY fund Kefi's obligation??!! Surely Adams stated PIs for a reason.... It isn't really something one can dodge so the real question for me under an "IF" it came to fruition... How many shares would realistically be in issue? This IS SO IMPORTANT to KNOW! |
Actually the junior miners have been doing v well. Just Kefi and the dross that never respond ;) It will take more than news to get this thing back on the road. It will take proof of finance in bank and drill bits turned. |
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