Like this bit alot.... the co lender's credit approval which now includes a discussion in respect increasing the financing amounts on offer; |
Other site up and running now! |
Defo down - has been for most of night! |
Is it me or is other site down |
"the next steps are to finalise second bank credit approval, sign the definitive detailed financing agreements, drawdown the equity funding and then launch Major Works - all targeted within Q4-2024."
If one thing in life is certain, other than death and taxes, it is that those four things will not all happen within Q4. |
(Ethiopia general)
(gold)
(Ethiopai general)
(gold M & A) |
I suppose we will get told that because the 2nd bank only has meetings every quarter then we must wait another 3 months before we can have an outcome. While we wait there might be a security issue and we will have to address that before they can reconsider.
Meanwhile we are running out of cash for xmas bonuses so lets have another placing to jolly things along.
See you all in the New Year |
Many of these “nomad-approved” missives have been so full of vague references to various matters, using “water-muddying” ambiguous language, as to render them pretty meaningless and which the Nomad could duck and dive behind if ever seriously questioned on the authenticity of any such RNS.
Meanwhile, we have one and a bit trading days left in Q3. Are the usual cheerleaders really going to let this sorry saga trundle on into 2025 with no TK funding completion, without seriously questioning this management’s ability to ever deliver it? Although I expect there will be a few “nomad-approved” RNS missives to keep them happy between now and then. |
Oh who remembers the RNS (that the nomads approved) when Harry said construction to provide electricity to the site has begun. Many many years later and still no sign of this. |
"Q: Have both banks confirmed that no more site visits are required for their credit committee approvals?
A: Yes. They sent their inspectors and are happy for the purpose of credit approval, already granted by one of them."
Main thing is the bank but it was already my read that that was the situation. Think it will be easier to sort things with Artar post TK launch not as if there is lack of money in Saudi and now getting more interest in mining projects generally.
As for working out level of compensation better to get it sorted as early as possible even if it turns out it is paid out in tranches as people are moved from different areas at different times. |
 From kefi website Q @ A.
Various questions regarding Tulu Kapi and GMCO
Q: Please explain who the people are in the community meeting photo that KEFI recently posted on X. Where are they, who hosted them, the agenda and further details?
A: Our community liaison team comprises 25 people and our Country Director is Abera Mamo. They meet with community and local government agencies regularly. As a policy, we refrain from giving details of meeting attendees without their explicit permission and we generally consider it unnecessary risk to their privacy to do so.
Q: Have both banks confirmed that no more site visits are required for their credit committee approvals?
A: Yes. They sent their inspectors and are happy for the purpose of credit approval, already granted by one of them.
Q: Please explain why the compensation calculations in respect of the temporary construction camp set a useful precedent?
A: Simply that it is a small read and the relatively small area allows the precedents to be set for amounts payable per eligible item. This assists greatly in confirming our overall budget.
Q: Has KEFI caught up with its GMCO contributions or is there a risk of dilution by ARTAR?
A: No. there remains the risk of dilution. |
Goatherd
I think you should sit down for a few hours and read through the history of some of the aim companies you may just be surprised at the lies nomads let be published
But there again perhaps not |
"in my humble opinion" hilarious. |
I think most of you (the posters here) do not understand what a RNS is.
It is a statement which has to be approved, before being made, by a third party (The NOMAD - "Nominated Advisor" -. The Nomad will not approve anything that is not true. In the (very) rare circumstances of a RNS proving untrue the NOMAD will resign, and, unless the company finds another quickly (weeks, not months) the company will be delisted.
So RNSs should be treated as gospel (well rather more as the Gospels have a much lower standard of verification).
And then you do not seem to remember what RNSs say.
An example. The lead bank has approved. It is the second bank that has not.
The project HAS been launched - the "early works" HAVE been started. That could not have happened unless KEFI KNEW the second bank approval will be coming in due course (or unless they have a plan B written in stone).
So just try using you brains rather than your gut feelings. |
Maybe civil war interupted precedings,
Maybe a lead bank approval was hence temp irrelevant
Maybe a project launch was hence irrelevant
Maybe hence security sign off was hence temp irrelevant |
Bukowski, you have got some nerve posting any opinion after ramping ARS down from 6p!!Yes, I am sure it is a great project - after all you keep saying so! |
I'm all for evaluating outcomes on chances and statistics,
so tell me Buko
Q, what are the chances of the lead bank approving ?
Q, what are the chances of project launching ?
Q, what are the chances that site security has been satisfied ?
Q, what are the chances that conditions precedent list no longer contains matters for negotiation, but has been reduced down to matters just requiring documentation finalisation and formal execution ? |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
