Development of the underground resource has been accelerated within the existing budget enabling the whole of the bank debt to be repaid within 12 months of commencement of production as long as gold is priced at $2600 or higher.
It was inevitable that the announcement would be made on the day that the markets are looking at the result of the US presidential election. |
Well done you two. You have managed to find something negative to say.
Talk about making bricks without straw. :-)
(Of course your negative stuff is wholly without foundation, or merit for that matter. |
Unlucky guys, that poor old can.
Can it take much more? |
 Second bank approval there just needs first bank to refresh its agreement due to more money being lent probably so kefi can list on the stock exchange and early launch of deeper pit. The main delay was with the second bank and now both banks are going to lend more and national and local government will get a taste through shares at Ethiopian level.
Banks increase proposed loan facilities from US$190 million to US$240 million
· Initial committee approval granted by second co-lending bank for increased amount, with final approvals subject to remaining conditions being satisfied (as outlined below)
· First co-lending bank to refresh its existing completed board approval, now for the increased loan
KEFI has facilitated local participation in a manner designed specifically to suit Ethiopian investment conditions, as follows:
o Public sector, via shares issued by Tulu Kapi Gold Mines S.C. ("TKGM", the Project company) to both Federal and Regional Governments
o Private sector, via Equity Risk Notes (gold-linked bonds and preference shares) of KEFI Minerals Ethiopia Ltd ("KME", the local holding company), to be followed by their listing on the new Ethiopian Stock Exchange |
Two key takeaways more finance and second bank approval.
Steps forward even if not fully signed and a more positive position than yesterday. |
So next year then? Quelle surprise. |
On the face of it looked promising but again no final signature, although understand the need to go back for sign off on changing amounts. I would just like to see signed please! |
Another rampy RNS to keep the story going
CEO Quote in RNS -
Today's announcement that our project finance banks are looking to increase the Tulu Kapi project debt offering from US$190 million to US$240 million is testament to KEFI's focus, diligence and tenacity
Focus, diligence and tenacity - no comment
As always, do your own research
Looks like they have dragged the story into 2025 with this latest RNS, nothing like a bit more delay to the story
Won’t they need another fund raising soon to keep the lights on and the CEOs rather generous remuneration topped up? |
Is it? First bank going back to approval stage, second bank still conditional, 'targeting' close this quarter. It feels like more of the same, to me. Lots of big talk but never quite reaching the finishing line.
When will the money / loans run out and the cannon be fired again? |
Traditionally Harry would give an update after every, let us call them, missed indicated timeline. Must be quite a chore so who can blame him if he cannot be asked? ;-) |
Huge great big fruit machine! :-D |
Aye, strictly 'fruit machine money' only. |
A fair summary. I think it will happen too, but it is better to think of this as speculation rather than investment. Just a bit of fun. |
Tes. But they are also drilling some (or perhaps all) of their other license areas. As, indeed, they have to under the license rules.
There will undoubtedly be analysis delays, but a whole year, or more? |
goatherd - they are drilling to JORC the reserves for a DFS so I don't think that they would hold up the release of results. There's just a lot of infill drilling to do and a lot of samples to get analysed in the labs and then reviewed by the consultants.
The markets are holding their breath pending the result from "over there". Then there may be a stampede and its anyone's guess whether they will surge or crash (or neither). Few are willing to predict the movement of the price of gold (fewer still, the price of silver) over the next few weeks but many are looking for higher prices in 2025.
It's a tense time. |
I reckon the funding will come. With gold currently £2700, any lending risks are reduced. If ever there was a time to be developing a gold mine it's now.
Lots of false starts here though, so just need it done now. No more HA waffle, it won't help, just get the thing signed off or we'll be back to lows. |
When the missed targets, forecasts or whatever you call them have accumulated for long enough you realise not just that a character like HA has next to no control over events and that dilution over time is diminishing your potential return, you also realise that it could all fall apart and never happen at all (in the sense that one way or the other KEFI could be out of the picture by the time anything happens). |
Bid keeps jumping to .65 or .66 and then dropping back.. |
"It hardly matters exactly when things happen - provided they do happen."
Of course it matters, because the longer it takes, the more dilution is incurred and the lower the return on investment. Hence those who believed the early tales being 99% down on their purchases.
You have a frankly bizarre outlook on investing. It is ok for CEOs to lie, sorry 'make up stories', because they need to inflate the share price to sucker people in. Righto.
You are right that HAA has had almost zero control over this entire farce in Ethiopia, as he has been led down more garden paths than an old wheelbarrow, however consistently claiming otherwise and not being open about the steps to closure is nothing to celebrate. He said it was 'done' three years ago, that was untrue and unacceptable. |
Thanks Rob like this..
The eagerly-awaited launch of the Ethiopian Securities Exchange will be in mid-November, according to Hana Tehelku, Director General of the Ethiopian Capital Markets Authority (ECMA). The ESX has a pipeline of potential listings. |
(Ethiopia general)
(Ethiopia general)
(Ethiopia general)
(Ethiopia general)
(Saudi mining) |
Traders increasingly outnumber investors but Harry does not really have any time for traders but at the end of the day their money is as good as anyone else's. |
#6562
You were doing so well until you got to the final sentence ‘it usually does’. |
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