Kefi Gold And Copper Share Discussion Threads

[taxlosstone] 25/11/2019 08:59

Can you remember how joyous most of us were when we thought that we had escaped the clutches of the licensed bandits who were supplying us with short term working capital? Are we now to expect a resumption, do you think?

[the charmer] 25/11/2019 08:58

'The emergence of this alternative funding reflects the improved outlook for Ethiopia and of the Project in light of progress on the ground. The two proposals (bond-based and bank-based) have their own relative merits. Whilst the implementation timetables of the two are similar, the differences between the proposals are in respect of: (a) the implementation steps; (b) the quantum and profile of net cash flow after capital-servicing; and (c) the flexibility to prepay or refinance in the future once in production. The preferred route will be chosen shortly.'

[topicel] 25/11/2019 08:58

Jaylett, this is par for the course and not unexpected. Harry is only able to get so much blood from this Ethiopian stone in one go!

The timeline is the same as you, as a LTH, should know there is a built in fast-track aspect to the build - admitedly once it gets started - that will shave up to six months of the project timescale.

Clever engineering and such from Lyco, goodness knows, but it is in the plan if I recall correctly.

Topicel

[jaylett] 25/11/2019 08:52

"We were not expecting actual gold production until 2021, and nothing has changed."

Production has been delayed (again) until 2022, per the RNS (24 months from January). Why are you mis-stating clear and obvious facts? Does no one any favours.

[scars] 25/11/2019 08:50

Would not be surprised to see this bounce back today though! Lots of games going on!

[tidy 2] 25/11/2019 08:49

Probably trade in the 1.40-1.90 range which was suspected.

[scars] 25/11/2019 08:49

Except production is now more likely to be 2022, what's a few months between friends!

[andysand] 25/11/2019 08:38

It can be traded; with care. The story has now changed from a few days ago. Hold if you have a comfortable amount or sell what you need to for restful sleep. It still looks very good but there is a month now to take stock and consider. I doubt the share price will go anywhere until mid December.

[scrappycat] 25/11/2019 08:35

Finally, we have official confirmation that the development of the mine WILL start. In other words, our money is safe. We were not expecting actual gold production until 2021, and nothing has changed. The LTHs will be rewarded for their persistence.

[jaylett] 25/11/2019 08:32

Lots of flowery language, but still no actual local money handed over. This is incredibly frustrating. ANS are now directly delaying the start of the build and therefore my return on investment.

-- The equity subscription into TKGM is in the process of being carried out, comprising several steps which take some weeks to complete under local laws and procedures.

[scars] 25/11/2019 08:24

I am still thinking the next step up will be the next set of core result from H. Can't be long away. TK will happen now it is just when.

[scotty1] 25/11/2019 08:24

From over the road

Has launched the Company's Tulu Kapi Gold ProjectToday 08:20


Its all in the RNS IE "is pleased to announce that" "has launched the Company's Tulu Kapi Gold Project"

Or am I seeing things ?

KEFI (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce that KEFI subsidiary Tulu Kapi Gold Mines Share Company ("TKGM") has launched the Company's Tulu Kapi Gold Project (the "Project") with its Ethiopian private and public sector partners, at the Second International Ethiopian Mining Conference and Exhibition, currently being held in Addis Ababa

[tidy 2] 25/11/2019 08:18

Development stage go ahead.

[scotty1] 25/11/2019 08:16

- ANS Mining's investment remains at US$38 million (Ethiopian Birr-equivalent). The initial investment has been increased from US$11.4 million to US$15.2 million, being US$9.5 million upon short term closing and US$5.7 million in due course

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Wood and trees come to mind,added this morn on that dip 😉

[cjm681] 25/11/2019 08:10

@cybaajak - I agree. Last week I got told off by some Harry fans for suggesting that the signatures may not arrive and we may need more funding. Today's RNS is yet more waffle from the BoD. This could go back under 1p.

[andysand] 25/11/2019 08:04

I sold half first thing. I want to be in this but I had added to my holding. Now back to a smaller holding while we wait.

[bejubiant] 25/11/2019 07:51

Divmad... agreed.

In the overall scheme of things the ANS funding is not a lot of money. We are led to believe that the ANS consortium is made up of very senior people in big financial organisations. Well, they need to start acting like it frankly..
Right now they are behaving like amateurs. Just get this done within the timeframe you subscribed to.. end of.
The cancer phrase in the RNS is "in due course"... bottom line, less money on day 1 and no tangible date for when other monies will follow. Poor effort.

The only good bit is the alternative funding "term sheet" from a local bank.
Having spent 37 years in corporate & institutional banking, I would say a term sheet is simply an "invitation to treat" and has no more substance than toilet paper.. It is pre due diligence and has no basis.

So.... the talk is good and no doubt Kefi is going to be a fabulous business for long term investors like me.

The emphasis right now Harry, is on less talk and procrastination from you and your partners and more forthright action. Pull your finger out and stop endlessly waffling about how good everything is FFS...

[philby1] 25/11/2019 07:46

All sounds pretty certain to me now and January is not far away either. Will be adding.

[pjackson2] 25/11/2019 07:45

This jan start will probably turn into end of jan so another nine week delay.

[taxlosstone] 25/11/2019 07:44

"After many unfortunate delays" here are a few more delays. :-( This is so bloody disappointing. We have spent the last couple of years being told that the next announcement will be THE BIG ONE only to have it pushed into the future. All that time, effort & money spent on setting up the bond & now we may be starting from scratch & are contemplating additional funding from these "never stepping up to the plate" African bankers. GRRRR!!!!!

[divmad] 25/11/2019 07:39

It was a decent enough update, but traders will read it and see another short term delay, possibly meaning more interim equity funding, and revise their trading tactics accordingly. Investors will have more time to build their positions for a project that is gaining traction but not quite there yet. Imho.

[smackeraim] 25/11/2019 07:30

ANS Mining's investment remains at US$38 million (Ethiopian Birr-equivalent). The initial investment has been increased from US$11.4 million to US$15.2 million, being US$9.5 million upon short term closing and US$5.7 million in due course.