Who is negotiating the increased finance?
Nigerian bank, middle man, Nigerian perhaps?
Earlier posting of projects Ethiopia mining, reiterate, none!
If one had sufficient finance to progress project, why ask for more?
Gold in one hand or muppets? |
Jaylett banks going to lend more money so personally not sweeting as much as some over the banks hence the refresh lending more money likely due to Ethiopian listing and early development of deeper pit both good news.
Think its a good move to go for a listing in Ethiopia that way you make Ethiopians a partner. Which should make it easier in the future for Kefi in Ethiopia.
So on balance the good outweighs the bad. |
"Second bank approval there just needs first bank to refresh its agreement"
Rob, the first bank approval was 'there', and now it isn't. Neither is the second bank approval despite what you claim. Nothing is 'there' until it is signed, which has just been demonstrated today. Do you not even feel the tiniest bit misled by this point? |
"How do you keep an idiot KEFI shareholder in suspense? Harry will tell you in the next RNS" |
This wont have escaped anyones notice, I am sure.
Early Works progress
The Early Works programme was launched in May 2024 and has successfully served to demonstrate the readiness of the community and security generally for the launch of Major Works.
All key construction and supply agreements have been assembled for execution |
happy days.... |
Everyone in the consortium is getting on board money at local level and have national level backing and a listing to boot. |
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. |
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