And so this never-ending saga/farce continues. Onwards towards 2025!! |
"no further inspections are required by any of the Tulu Kapi Project funding syndicate members ahead of investment approval."
"All co-lender requests to date have been satisfied and our focus is now on optimising the equity capital segment of the financing, focusing especially on the Equity Risk Notes investment by co-lenders and local investors."
So second bank happy harry just went to them in Nigeria rather than them visiting TK. Its more about tweaking ERN investment probably due to some of the factors around the ERN i talked about on the other thread and the change in the value in the Birr compared to the dollar. Think ERN generally happy otherwise would not be looking at post TK investments. Things are actually more advanced than I thought. |
This is a sham. |
 18 September 2024
KEFI Gold and Copper plc
("KEFI" or the "Company")
Tulu Kapi Operational Update
Early Works Progressing Well
KEFI (AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield since 2008, is pleased to provide a short operational update encompassing the recent activities with respect to the Company's Tulu Kapi Gold Project ("Tulu Kapi" or the "Project").
Early Works at Tulu Kapi are progressing well, as follows:
· Physical activities:
o Security: all required inspections have now been completed satisfactorily and and no further inspections are required by any of the Tulu Kapi Project funding syndicate members ahead of investment approval. This follows the deployment of government agencies and private contractors. Independent monitoring will continue throughout the life of the Project.
o Local Consultations: conducting a multitude of large and small group briefings and consultations. These have been positively received by the local stakeholders who continue to express their support for the launch of Major Works.
o Community resettlement preparations: layout of a temporary construction camp now involves the compensation of small subset of the land required for the Project, which will assist the understanding and alignment of all stakeholders.
· Financing activities:
o Government has indicated it is ready to provide all ratifications required for detailed definitive documents to be finalised and executed.
o All co-lender requests to date have been satisfied and our focus is now on optimising the equity capital segment of the financing, focusing especially on the Equity Risk Notes investment by co-lenders and local investors.
Harry Anagnostaras-Adams, Executive Chairman of KEFI commented:
"We steadily work through the Early Works programme and preparing for the launch of Major Works. We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works. We are grateful for the support and collaboration being received from the community, government agencies and our Project syndicate.
"And we are lucky that the gold price keeps setting new record highs and Ethiopia has now re-joined the world's top 10 growth countries." |
(AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield since 2008, is pleased to provide a short operational update encompassing the recent activities with respect to the Company's Tulu Kapi Gold Project ("Tulu Kapi" or the "Project").Early Works at Tulu Kapi are progressing well, as follows:· Physical activities:o Security: all required inspections have now been completed satisfactorily and and no further inspections are required by any of the Tulu Kapi Project funding syndicate members ahead of investment approval. This follows the deployment of government agencies and private contractors. Independent monitoring will continue throughout the life of the Project.o Local Consultations: conducting a multitude of large and small group briefings and consultations. These have been positively received by the local stakeholders who continue to express their support for the launch of Major Works.o Community resettlement preparations: layout of a temporary construction camp now involves the compensation of small subset of the land required for the Project, which will assist the understanding and alignment of all stakeholders. · Financing activities:o Government has indicated it is ready to provide all ratifications required for detailed definitive documents to be finalised and executed.o All co-lender requests to date have been satisfied and our focus is now on optimising the equity capital segment of the financing, focusing especially on the Equity Risk Notes investment by co-lenders and local investors.Harry Anagnostaras-Adams, Executive Chairman of KEFI commented: |
We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works. |
News icon but no news anywhere? |
They have an PR department?
Joking apart Harry mentioned it in the Africa downunder webinar 20.35 mins in "todays workshops""community leaders"... |
Don't get me wrong I will throw a decent wad into this if we can be satisfied all Is are dotted and t's crossed but quite frankly Rob I actually think Adams is incompetent. Like totally incompetent. The PR is laughable for a start. Like who the hell is running that show? The twitter post an embarrassment. Seriously! |
PS Rob, you need to tell their twitter PR department if they are going to try and ramp with photos of the locals it may be prudent to at least have some Kefi stands in background. They can buy them on Vistaprint for 40 quid. Otherwise it could be the local faith mission eh ;) They surely seemed to be falling asleep at the sermon wherever it was LOL |
Well might miss a post second bank approval share price rise but would expect plenty of other good news. Should get more from Saudi later this year as well which should attract more notice post substantial progress on TK, higher gold price and recent M & A activity. |
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. |
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