AFC does cite Ethiopia as a member state but there may have been changes to the law and/or constitution of Ethiopia following the civil war and there may be formalisations necessary.
Paperwork.
The financing structure has been revamped and note the acceleration of the planned development of the underground deposits. |
Guess the bitcoiners liked Trump getting in. |
another big 14m buy |
KEFI Gold and Copper Executive Chairman Harry Anagnostaras-Adams, Ethiopian State Minister of Fiscal Policy and Public Finance Dr. Eyob Tekalign Tolina, and Africa Finance Corporation President Samaila Zoubairu came together in the Ethiopian Ministry's boardroom to discuss the path forward for the Tulu Kapi Gold Project and the promising growth of Ethiopia’s mining sector.
hashtag#KEFI hashtag#Mining hashtag#GoldExploration hashtag#TuluKapi hashtag#Ethiopia hashtag#ArabianNubianShield hashtag#InvestmentOpportunity hashtag#ProjectFinance hashtag#Growth |
This is going to happen, massive .I understand the frustration more than anyone but this is great RNS. This is going to boom |
You have a point From presentation..
"TDB bank final approval issued early 2024 and now being updated for increased debt level
• AFC has issued initial committee approval with final approval to follow after Ethiopian Government ratifies AFC as Country Member, the paperwork for which has been sitting ready for approval"
"Membership in the AFC is open to all African states. African countries can join by signing the Instrument of Adherence and ratifying the AFC Establishment Agreement. Member countries, upon acceding to membership, are required to ratify the AFC’s Constitutive Instruments in line with their national laws, essentially domesticating the AFC Treaty into local law by the requirements of the country’s internal protocols." (From AFC website)
But would think the government will quickly do that as especially as they will want full affirmed membership of AFC anyway and "paperwork sitting for approval" |
wow 30m just bought!! |
I don't think Kefi punters on this platform understand how mines are designed , and the detailed engineering that goes into the design.....They seem to think get the money and start building straight away.....umm do you know anything about greenfield construction? You can't just rock up to a remote desert, jungle or mountain range and crack on straight away.You kind of need detailed engineering plans......IMHO!!!!So how far into detailed engineering is Harry? What exactly are these early works he is apparently doing, and what companies are on the ground doing them?Please DYOR....but not by playing with your lego sets you absolute morons ROFLMFAO |
Classic KEFI. HA has zero control of events. Timescales in KEFI RNSs are meaningless. With luck it will all happen at some point - and that will be a bonanza - but in the meantime we all need to find other things to do. |
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? |
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