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. |
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! |
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