Its not "paying for", in fact it is being paid.
The money due to Artar is the Kefi share of the investment being made (mainly the fees to Kefi).
Artar are being generous by not insisting on immediate payment. If they did so insist it could only be met by cash (which we do not have) or by reduction in our share of the project; which started at 40%, but has now crept down to a little over 25%. There appears to be an agreement between Kefi and Artar that it should not go below 25%, if possible.
It is worth remembering that Artar invited Kefi into Saudi Arabia to run their mining interests. |
@katsy, "They owe Arter a lot of cash". During my Q against the 'Dilution' to pay GMCO, The KEFI employee Roger claimed "Maybe the best way to think about this is that unless and until KEFI pays its full contribution to the GMCO JV , then it may be diluted and that is stated in the accounts.
As background, GMCO has spent approximately $100M since its inception."
I thought GMCO is a child of KEFI. Their biz is for exploration work for Artar, for which I believe Artar should be paying GMCO (KEFI). Where would KEFI pay and why for exploration in SA ? |
And he's lost shareholders ~99% in that time. It will be another ~99% if it takes another seven years. So what does it matter if people believe you or not? |
Indeed it was discovered when Mussolini was in power, just be thankful it wasn't Marcus Aurelius! |
and from the acquisition of TK under the brilliant stewardship of agadoo doo adams, he's delivered a stunning 99% loss of share value. |
"The average time from conception to pouring of gold is about 18 years so Harry needs to be pouring gold in the next couple of years, to the best of my knowledge ."
The Tulu Kapi gold deposit was discovered and mined on a small scale by an Italian consortium in the 1930’s...
Nyota Minerals Limited acquired the licences in 2009 and then undertook extensive exploration and drilling which culminated in an initial DFS in in December
so from "conception" to the current state of play, it's been 80+ years. |
Kefi acquired TK in December 2013.
So to meet the 18 year "target" he still has 7 years.
Does anyone seriously believe he will not make that? |
The average time from conception to pouring of gold is about 18 years so Harry needs to be pouring gold in the next couple of years, to the best of my knowledge . |
Akobo have been there for 14 years before producing this ingot. How long has Harry been at it? |
Past results do not guarantee future performance :-D |
If history tells you one thing and one thing only, it tells you to look in directly the opposite direction that the avatar goatherd is looking.
There is no better lesson in life than that, imo. |
90% a placing enroute imo.. |
 Akobo Minerals, a Scandinavian-based gold exploration and mining company with operations in Ethiopia, is pleased to announce the successful production of the first gold bar from its Segele Mine. This significant milestone marks the beginning of gold production as the company moves forward with its operational plans.
To raise money for investment in Ethiopian mining projects….
Pursuant to the Offering, the Company issued 62,000,000 common shares in the capital of the Company (the "Shares") at a price of C$3.10 per Share for aggregate gross proceeds of C$192,200,000..and in respect of costs associated with the Kurmuk construction project. The Offering is part of the Company's previously announced broader financing plan, which includes a gold stream and gold prepay facility on the Kurmuk project, intended to enhance financial flexibility to unlock significant value. Allied expects to provide further updates on its plans to unlock value in due course, and an update on the completion the Kurmuk financing packages no later than the publishing of Q3 2024 results. |
Well, you nay-sayers have your views. I have different views. Odd, really, as I think most of us have the same objective (to make money).
I doubt many of you are short?
It will be interesting to see which view is right. Obviously I think mine will be. |
“Nothing to worry about”? For goodness sake, one of the reasons the share price has remained stagnant despite the suggested imminent TK funding completion is because of the “confetti̶1; amount of shares already in issue and HAA’s history of regularly adding to this total.
He cannot be allowed to keep having placings chiefly for over-generous wages/expenses while the TK funding debacle just stumbles on from month to month, quarter to quarter, year to year. Before you know it there will be over 10 billion shares in issue prior to “real” work on the mine actually commencing. |
You probably said the same thing two years ago goatherd. They owe Arter a lot of cash, I'm sure the banks are not paying Harry to pay off debts for another project. They need cash and placing is the only thing Harry knows.
So the question is, what price? |
I don't think so Katsy.
I think the question is "Will there need to be another placing?"
And I believe the answer is "probably not".
But if a placing is needed then it is needed, and nothing to worry about. |
I'm sure this question is on every bodies lips. What price the next placing? |
(Africa/Saudi mining) |
We owe a debt of gratitude for the retro gen too in many ways ;) |
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