Going to get everyone to give "simultaneous agreements from all parties" if the second bank was not happy that would not be possible. The RNS say next month any delay if any looks to be connected to the tweaking the ERNs. |
Doing a bit of early Xmas shopping on Amazon. Good selection of pagers for that special person in your life. |
If the second bank 'was happy', why hasn't it been confirmed? Why is there always a reason to add another month to the timeline?
Another webinar should sort it all out, I mean the previous twenty have all been barnstormers. |
Will be continue to top up when I can Buk as the main thing for me was all parties being happy. If the timetable slips a bit just means I can accumulate more cheaply.
As for the ERN investment they can work out some kind of formula if it connected to the value of the Birr that takes account of any fluctuations of the Birr if needed.If they are haggling over who gets to invest the most they can expand it be earlier opening of deeper pit and other prospects near TK especially as Harry mentioned in the Webinar Saudi looking to invest in Africa in the webinar. |
Do you fink at will happen next month Rob, honesty? Cos I certainly don't ROFLMFAO |
Ratify "sign or give formal consent to (a treaty, contract, or agreement), making it officially valid."
"We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works." |
I hoped for some indication that he second bank was happy this month Harry said to TW that he hoped to get that around the 20th but could not certain of the date. Second bank obviously are hence "and no further inspections are required by any of the Tulu Kapi Project funding syndicate members ahead of investment approval". Harry trip looks like more to deal with tweaking the ERNs ahead of "We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works."
So should get the last piece of the puzzle really then but last big hurdle been cleared imho opinion with the second bank being happy. Post definitive simultaneous agreements from all parties I see the rest as just process.
Hopefully we will get a quarterly webinar to walk people through what is happening. |
Government has indicated it is ready to provide all ratifications required for detailed definitive documents to be finalised and executed.
New goal posts have arrived. That's a new one. |
The RNS is always suspiciously vague and has the usual HA word salad !
I'll believe it when I see it but I do believe it will happen one day, hopefully soon |
“We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works”
Wasn’t that this month? And it’s not saying it’ll be done next month, just “enabling̶1; |
The market reaction says nothing burger. |
Yeah security no longer an issue is great news! |
Burger with blue cheese and triple cooked fries that is :-) |
ACT , Confirmation of no further Security inspections needed. That's a burger for me ! |
It is actually a bit of a nothing burger, that RNS. |
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. |
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