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Investor discussions surrounding KEFI (Kefi Gold and Copper Plc) during the week of December 13-20, 2024, reflect a blend of skepticism and cautious optimism regarding the company's future funding prospects and project development timelines. Some investors expressed concerns about the lack of progress in securing funding, with commentary highlighting a potential dilution of shares. For instance, one user noted, "No funding in!!! Wouldn't be so sure about anything apart from the dilution ahead..." Contrastingly, others maintained hopeful sentiments about imminent funding agreements, suggesting that it was an "obvious and essential part of the process," particularly in light of recent legislative changes in Ethiopia aimed at easing foreign investment.
Financially, investor sentiment appears mixed—while some acknowledge the anticipated market value of KEFI's assets, there is a palpable frustration regarding leadership and persistent delays. The mention of unlimited share issuance now totaling 7 billion shares indicates significant concerns about equity dilution impacting shareholder value. However, improvements in regulations for foreign banks in Ethiopia were viewed as potentially beneficial, with a user asserting that these reforms could lead to "a lot closer" funding approval. Overall, while optimism exists regarding project valuation and potential sales, there's a fundamental frustration about timeline reliability, as captured in a poignant remark: "Another step forward but not a seismic moment for the share price."
Investors look ahead with measured expectations, with one noting that "independent certifications of readiness" could signal forthcoming progress, but many remain skeptical that substantial advancements will occur before mid-2025. The landscape suggests that while there are hopes for price recovery and project advancements, uncertainty around leadership effectiveness and market dynamics looms large.
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KEFI Gold and Copper Plc has recently made significant strides in its operations, particularly in Ethiopia and Saudi Arabia. The company announced the award of the Konso Critical Metals exploration license, allowing it 100% ownership of the area, which has shown potential for copper and other critical metals such as nickel and cobalt. Moreover, KEFI has completed a capital raise of up to £10.6 million, including various funding mechanisms to streamline its financial liabilities and bolster its project financing efforts. The general meeting for further shareholder approval related to this capital raise is scheduled for January 2, 2025.
In addition to these developments, KEFI is in the final stages of securing increased bank loan facilities for its flagship Tulu Kapi project, rising from $190 million to $240 million. Preliminary approvals have been granted, and the company is optimistic about finalizing these facilities to support ongoing operations effectively. The continued progress includes ongoing early works at the Tulu Kapi site, with security inspections completed satisfactorily. These developments position KEFI for potential growth and enhance its operational capacity in the burgeoning gold and copper markets in the regions where it operates.
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Thanks Gizmohican unless the paper can actually provide anything to back up what they said you have to conclude they basically lied by the looks of it or if you are being charitable were misled by "anonymous sources". |
See response from Kefi on their Q@A’s re the reporter article |
Sounds like the Government are getting pi$$ed off with HA's duplicity just like us shareholders. Not quite the rosy relationship HA has been painting over the last year. |
“KEFI is acquiring different licenses without progressing on its existing license. Its aim is to continue raising funds abroad by painting a picture in investors’ minds, as if the company is operating several with licenses at the same time. The company also often uses security threats as an excuse for its non-performance, while the major problem is its lack of finance,” |
Sources told The Reporter the Oromia regional administration has issued a final warning to the mining company, instructing it to fulfill capital requirements and resume activities at its site in Wollega. |
The only talk that matters is the director proving his talk!! |
"Its the same kind of sources that have put out half truths in the past you notice they do not mention that kefi are exiting Saudi to concentrate on Ethiopia as that would not fit their agenda as that demonstrates that kefi will be cashed up and are fully committed to Ethiopia. |
Agree with you about the GM even a virtual one with questions after would have been something. |
Furthermore, the coward should have been prepared to meet and face up to shareholders at a GM convened in the UK, in London, not in his backyard in Sydney for his convenience. |
Rob, |
Still waiting for a ten year backdated check. |
Well I, for one, are not. |
I wonder if Rob and Goatherd are part of this £1.4m pa promotion package from Harry. |
"or they simply miscalculated timescales" |
Lol in out in out shake it all about... Defo trade coming up... |
Do any avatars know if there is an effective vaccine for Stockholm syndrome available? |
‘miscalculated |
I suspect the company were forced into it either by a one of the parties dragging their feet either though bureaucracy or to put the pressure on for a backroom deal. Ifs that the case no way kefi are going to cause embarrassment by advertising the fact now they are going all in, in Ethiopia and any dispute or problem has been settled. |
Well said esteon! |
I will vote my shares against the resolutions. |
(Ethiopia mining) |
“In terms of the streaming agreement, Wheaton Precious will pay Allied $175m in four equal installments equal to 6.7% of payable gold from Kurmuk, reducing to 4.8% of gold once 220,000 oz has been delivered. Wheaton Precious will pay 15% of the spot price of gold. Allied also has the option of buying back the streaming deal.” |
VANCOUVER, BC, Dec. 5, 2024 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Gold Stream") with Allied Gold Corporation and its wholly owned subsidiary Allied Gold Services Inc. (together, "Allied"), in respect of the Kurmuk Project located in Ethiopia (the "Project" or "Kurmuk"). |
(Ethiopia general) |
Well do not subscribe to TW but anything is an improvement on kefis marketing and PR if kefi PR and marketing were better i suspect they would have had an easier time of it over the years and maybe done joint venture and been more successful with its deal making. |
Type | Ordinary Share |
Share ISIN | GB00BD8GP619 |
Sector | Metal Mining Services |
Bid Price | 0.492 |
Offer Price | 0.499 |
Open | 0.491 |
Shares Traded | 34,669,897 |
Last Trade | 16:35:26 |
Low - High | 0.481 - 0.506 |
Turnover | 0 |
Profit | -7.9M |
EPS - Basic | -0.0011 |
PE Ratio | -4.55 |
Market Cap | 34.96M |
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