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Investor discussions surrounding KEFI (Kefi Gold and Copper Plc) have reflected a blend of skepticism and cautious optimism, particularly regarding the timeline and funding prospects for the Tulu Kapi project in Ethiopia. Key highlights from this period include ongoing uncertainty about financing agreements, with some investors expressing frustration over potential dilutions and delays. One user noted, "It's now dragging on into Q1 2025 at the very least," indicating concerns that timelines are consistently pushed back, fostering an atmosphere of doubt among shareholders.
In terms of recent developments, there have been mentions of positive legislative changes in Ethiopia, which might help with project financing. Robjm66 suggested that these changes could facilitate new banking operations in the country, although many investors remain wary, questioning why significant funding hasn't materialized sooner given the project's potential. Optimistic voices within the discussions assert that funding may yet be secured, with statements like, "I am quite sure they WILL fund," highlighting a still-present hope for progress amidst the challenges.
Overall, investor sentiment appears divided, with some maintaining confidence in the potential of the Tulu Kapi project, while others express frustration with management and a lack of progress. Quotes such as, “it has taken longer is obvious to everyone,” reflect a weary acknowledgment of the drawn-out timeline and the increasing number of shares at stake, leading to feelings of apprehension among investors regarding the company’s future value. The discussions underscore a critical juncture for KEFI, where action in the coming months will be essential to restore confidence and drive investor satisfaction.
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KEFI Gold and Copper Plc has announced significant developments in its operations and financial strategies over the past week. Notably, the company is set to hold a General Meeting on January 2, 2025, following the publication of a Circular and Notice related to its recent capital raise, which aims to raise up to £10.6 million. This capital injection is planned to be allocated toward advancing the company's ongoing projects in Ethiopia and Saudi Arabia, particularly the Tulu Kapi Gold Project, where initial financing discussions have led to increased proposed loan facilities from $190 million to $240 million.
In recent operational achievements, KEFI was awarded a new exploration license for the Konso Critical Metals Area in Ethiopia, indicating a strategic expansion of its mineral exploration portfolio. This area has previously been explored and is noted for its copper and other valuable resources. As the company continues to strengthen its financial position and invest in exploration, the upcoming decisions regarding its joint venture in Saudi Arabia and ongoing project financing at Tulu Kapi are pivotal for its future growth and operational success.
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How many more false dawns here? |
"ESX is well-equipped to commence trading activities," Wongel told BirrMetrics. "We will start by offering trading in equity securities, fixed income instruments like government bonds and corporate debt, as well as an OTC market for unlisted securities." |
“The Ethiopian Capital Market Authority (ECMA) has officially licensed the Ethiopian Securities Exchange S.C. (ESX), marking a historic milestone in Ethiopia’s economic transformation. This move is a key component of the country’s ongoing efforts to modernize its financial systems and support sustainable economic growth.” |
Thanks for the heads up Gizmohican!! |
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. |
Type | Ordinary Share |
Share ISIN | GB00BD8GP619 |
Sector | Metal Mining Services |
Bid Price | 0.492 |
Offer Price | 0.499 |
Open | 0.492 |
Shares Traded | 15,434,686 |
Last Trade | 10:10:15 |
Low - High | 0.492 - 0.499 |
Turnover | 0 |
Profit | -7.9M |
EPS - Basic | -0.0011 |
PE Ratio | -4.55 |
Market Cap | 34.92M |
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