Kefi Gold And Copper Share Discussion Threads

[bahamarama] 27/4/2021 21:24

Don...You know what it's like..? We all read lots of stuff and get bogged down and easily confused with the comings and goings..!!I just thought I read on the KEFI website (in the last 48 hours) that they were releasing their 'quarterly Corporate Presentation' today in line with the date they have released their prior ones..? So, it didn't seem 'weeks' early to me..??!!

[kevraff] 27/4/2021 21:21

For March that is

[kevraff] 27/4/2021 21:21

Didn't get to see the full presentation this morning so did anyone note if Harry gave a reason for the senior lenders not signing off funding?

[donegal1997] 27/4/2021 20:59

I think Bradley is correct, I'm not sure who or when but I'm nearly certain it was mentioned on here that the webinar date was brought forward to today. I can't recall what date sadly.

[bahamarama] 27/4/2021 20:18

Wasn't this webinar executed as per previous ones..? On a particular date..? Which was today..?The KEFI website suggests so..?

[robjm66] 27/4/2021 20:07

They main thing is will any cash raising be post deal or not, from the comments in the webinar clear its expected to be post deal.

[neally99911] 27/4/2021 19:37

Pretty sure the question was how much is Kefi itself spending rather than "how much is being spent" but I'll listen again when they release the webinar is out on the website - could be I jumped the gun but dont think so

[bradley12] 27/4/2021 19:21

Is that the reason for bringing the webinar forward a couple of weeks, so it didn't fall in between announcements?

[rich1e] 27/4/2021 18:16

Cheers guys, a few points if we are to get funding news piecemeal, so to speak. First, he must be confident of completion, it doesn’t make sense to issue a series of positive developments and then have to reverse. Second the share price rapidly rose on the consortium news back in the autumn, we might see some share price movement, not seen since then. And third, the first piece of news might come any day now.

[robjm66] 27/4/2021 18:06

• $20M: Government, for off-site infrastructure (binding contract already executed);
Most of the money being spent on TK is by the government at the moment on roads electricity so general infrastructure personally would think that was a plus.

[shortarm] 27/4/2021 17:15

Yeah, that's mainly the government at the moment- oops!

[neally99911] 27/4/2021 17:10

When I heard Harry say they were spending a million a month on TK I sold my shares this morning. I had been working on the assumption of a fundraise long after TK financing in July or August at a much higher price but with the delays and the cash burn I can see it being only a few weeks away at a lowish dilutive price- changed the risk metrics in any case so I'm out. Hope I'm wrong for the LTHs - good luck all

[robjm66] 27/4/2021 17:00

Slide 6 of the presentation does say several groups have signed terms sheets and waiting on others to commit this month so would expect the company to update the market as others come on board as its market sensitive news and to build the share price in advance of the final sign off.

Plus harry did say he expected a string of announcements and the share price to improve as the project became more de risked.

Will listen again to the webinar when it pops up on the kefi site to see if I missed anything.

[fairvalue] 27/4/2021 16:51

@Rich1e - sounded like it, he said 'May is a key month and if all goes well you should see a string of announcements'

Bit like asking the restaurant to just bring it all out in any order as soon as it's ready.

Perhaps H can sense our hunger...

[riotinted_specs] 27/4/2021 15:44

Thanks Rob

[rich1e] 27/4/2021 15:08

I've not had the chance to go through today's events thoroughly yet. But I noticed a post from Tone earlier about reporting funding parts as they're completed. Is the implication that from here on, we could get notification as each party signs off?

[theaviator] 27/4/2021 14:32

June it is then. Am extending him a month to allow for slippage. Slips more than that, I'm out!

[robjm66] 27/4/2021 12:25

Thanks for thanks all.

[goatherd] 27/4/2021 12:00

Thanks very much indeed Rob - really well done, and, as estseon said, very difficult to do. Please don't worry about the spelling - it really does not distract most people - the only one who minds it is you!

[goatherd] 27/4/2021 12:00

sorry for duplicate

[you for coffee] 27/4/2021 11:59

Thanks Rob for your efforts

Sounds promising!

[silver surfer] 27/4/2021 11:42

Cheers Rob, much appreciated.

[jlwilliams] 27/4/2021 11:41

thank you very much Rob

[robjm66] 27/4/2021 11:30

No problem.. redone with some missing words added and some spelling corrected.

Harry explains what a kefi webinar is…..exciting time for company a lot of things have to happen in a short order..walk through of slides of presentation…updating slides rather than all slides..just ten slides

Description of TK households will be moved third slide corporate overall picture..…kefi undervalued…getting on with it…should see share price with along with developments will increase SP…NPV doubled… due to metal price increase and increased share of TK and Hawiah progress

Steps for developing fall development…lead up schedules slipped but..still on target for full go ahead middle of year (government sign off) harry describing house road and electricity work…

Mid year kick off drawn down later of year debt comes in (basically no change from quarterly)

Metal price has changed outlook for Kefi, local companies that are internationally owned that are well capitalized (that cannot move money out of country easily) Finance improved to around 75 percent (important for shareholders)

Discovery in KSA Hawiah Maiden resource gets getting bigger and improved grades

Harry talking about covid…Logistics challenging but done well..security been an issue nationally but not at TK site…Kefi elevated security.. achievement to keep things on track extra measures to protect..Kefi will be countries biggest export company

Harry talking about covid…Logistics challenging but done well..security been an issue nationally but not at TK site…Kefi elevated security achievement to keep things on track extra measures to protect countries biggest export company

Harry saying sorry about delay admits he thought things some things would be done by this webinar (there you go topical)

Corporate development plan slide
Project robust…mining fleet investment by contractor….May milestones…Exchange of letters…pull together everything…need formal credit approval. Government already spending…March Ethiopian investors felt obligation to invite them they will have to commit in may like everyone else…kefi offtake needs to go firm in may....May is key month should be a string of announcements then June government and final sign off

Targeting development in Hawiah after things settle down with TK…NPV numbers…other slides 13…senior management committee experienced..

Slide 18 foreign companies in Ethiopia..Newmont230;other companies.. Bisha mine..Harry heads of mining association in Ethiopia…slide 21 covid and security in TK…Covid not as big a problem as in other countries (average age 18) security basically says incidents elsewhere but not at sleepy TK but kefi taking precautions slide 35 mineral resource NPV sensitive to scaling up liable to increase.

End of presentation slide walk through.

Questions..

TK what are the next share price moving announcements?…;.key steps on slide what happens in may and June…things happen to de risk project leading to fuller value..

Timetable thrown out by Ethiopians..only invited in march (?)..
Other events to throw out schedule rains election? Election no..wet season not relevant for financing.

country desperate to correct trading balance whoever is in power..

What caused delay… core syndicate sign up delayed due to reasons presented earlier..formal delays..just lead up delayed not other schedules.

Inter crediting deed executed? People who call shots are senior lenders no debating what terms its the last thing that gets signed any how.

Three steps in compensation and moving settlement first settlers comped in June second batch in jury third batch just after wet season..

Plant and machinery schedule yes possible to do..
Did Government align start of project to create good publicity….yes (lol) they would be delighted to see the mine progress just before election

Frustration of shareholders at delays…Challenge of first mover and other challenges…Company has tenacity to deliver…rewards are exceptional..harry spends most of his time in Ethiopia TK so close now you can taste it…

Funds raising? wrapping up everything in one go both sides of red sea kefi and Ethiopia funding in Ethiopia and ARTAR and in Saudi (post TK Deal)

Kefi enough clout to get project off ground?…highest risk capital already spent by Noventa and kefi to get to this stage..next money for development…mining contractor putting in resources..banks serious about delivery..local investors money to deploy money sitting in their banks has to be used in country..syndicate works because they care about country

New timescales firm? Unless some major event or black swan even timescales reliable.

Jibal quatman…Granting of licence delays…past problems no longer relevant for Hawiah…KSA needs money now as well due to oil price so political will is now there

Funding package end of June phase four will be covered.

Hawiah change of assumptions…you do not have to drill everything out to trigger development but can drill at the same time

Project big enough? Hawiah knocking on door..

Licenses slowly granted? Six projects sequencing cannot comment on commercially sensitive and it is out of kefi hands

JQ licensing when? Believe dealt with by ARTAR but no details.

Travel restrictions have not had a big impact yet…virtual meetings..relationships still strong and lots of Due diligence..Harry waiting to be vaccinated…clear success of drilling in KSA buy back bigger share of KSA from ARTAR…no. KSA extremely prospective though plenty of opportunities but strong partner means kefi in good position one third share of a giant pie rather than a bigger share of a smaller pie. Hawiah the smaller share will be bigger than the bigger share of TK.

Closing remarks testing but special time for company so hang in there things are turning for us.. shareholders deserve a break and stakeholders keen to succeed.

We will make it happen.

[estseon] 27/4/2021 11:25

Thank you, rob. Your running report, so difficult to do when listening, is invaluable.

I confess that I cannot reconcile the "75%" with the possibility of equity from the additional local investors unless they put sub-debt into KME or unless they put equity into KME but Kefi also does so, resulting in an uchanged net position.

What appears to be suggested (hopefully, strongly) is that kefi won't be issuing any more confetti before the sign-offs next month. With luck, the share price will rise sufficiently to enable a $10m contribtion to be raised through a dilution of c10%.

There is a suggestion in the Quarterly that Ausdrill is lined up to take some more shares.

Who knows? What is certain is that HAA must get this deal done. And it must be done before the big boys muscle in. That is where HAA's contacts with the government are somewhat important.

Kefi has the benefit of reserved exploration licences but I suspect that they will steam ahead with exploration, particularly completion of the exploration of the satellites within trucking distance of the mine, as quickly as possible to cement their position of favour with the government. We could be seeing a growing news flow over the construction period.

I see that Jeff Rayner is still there in the wings.