I seem to remember some years ago that local institutions who were going to syndicate the loans but decided the deal was so good they were going to hog it all for themselves. The only reason that the money did not come over was that they wanted to earn interest on their capital & we did not need the cash. Oh, & they did not have two halfpennies to rub together. Now we have banks who just want to lend us more, by the sounds of it. :-( |
They are African banks backed by governments so would prefer it paid of as quickly as possible to recycle into other African projects so its a plus. |
I wonder whether the banks welcome the suggestion from Harry that we might (or could be able) to pay off the loans within a year.
After all, they are in the business of lending money. Would early payment suit them? |
Well if they can lever future gold production to get money now through gold backed bonds they may be able to do the same in the future projects both in Ethiopia and Saudi.
Maybe the possibility was not really on the table till we got well over the 2000 dollar gold with the likelihood of it going higher.
Pull it off and might mean no more raisings can just use bonds against future production from TK and Jibal Qutman. |
Only one clown on here. |
If they've allowed a negotiated nearly signed deal to be put back months to save a few clicks of equity they are clowns |
Christopher, re 6477
Yes, indeed.
But not until the agreement is signed. A verbal agreement would not, IMHO, warrant a RNS. |
Forgive my ignorance fellow investors if Harry were to renegotiate the amount borrowed surely he would have to issue an RNS......? |
Riiiiight. |
In the last interview with HAA that I have watched he said that the 2nd bank was processing approval, that all conditions precedent had been met, that both funding banks would take a portion of the Equity Note issue and that the Equity Notes were now some form of 'gold bond'. The latter indicates that there has been remodeling of the form and terms of the equity notes and, until the music for that dance stopped and there was agreement on that, the banks could not complete the approval process because they would be taking up part of the issue. So, my guess is that the long and tortuous process has been lengthened by the constant tinkering with the components of the funding. |
"We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the Major Works."
You can talk about thinking long term all you like, but nothing matters apart from this in reality. The time for word salad updates and 'remaining conditions precedent' is over. Either they finally close the deal and actually start building this mine or I'm afraid it is time to seriously consider Ethiopia a busted flush. |
(peter schiff)
(Ethiopia general)
(Saudi mining) |
Yes. Language, but not grammar.
But I started the thread so I have the right to set the rules, and police them.
Anyone who doesn't like it has the option of not posting there. Up to them, |
Mustafa,
The reason why you do not see "any news about the Saudi economy doing well to having any positive impact on Kefi" is that you are only looking at the short term. Long term, it will affect the SA stock exchange on which, long term, Kefi will list.
As to the gold price. Kefi are negotiating with both banks to increase the loans. This would make it unnecessary to issue any more shares (which everyone (including you?) would rather did not happen). This negotiation is only possible because of the large rise in the price of gold.
Do try and think "long term" which, in this case, could be less than a year! |
I personally don't see it, like I don't see any correlation between gold price and Kefi....nor do I see any news about the Saudi economy doing well to having any positive impact on Kefi......it's time to wait and wish for the best. |
Are you some kind of self appointed language and grammar Tsar now kiddo? |
I mean't the LSE board, thought he did,
i get you bud |
Just hope there isn't some Russian or Chinese gov Goons who are trying to persuade the Etheopians to embrace a calamity world order to be run by gangsters, dictators, dispotic and corrupt states,
Having your economies and companies carved up ever more by gangsters, murderers and dictator regimes is a humanitarean calamity and only an idiots panacea |
BTC this year started a ETF selling BTC, This was against the Gold miners when they were attractive GOLD. The ETF is a BLACKROCK baby. Musk was aware the value of BTC is useless. |
Gold now at £2751 and rising |
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