Kefi Gold And Copper Share Discussion Threads

[donegal1997] 04/6/2021 07:32

Would the words "remain for execution" indicate that the van has actually not been kicked this time?

[riotinted_specs] 04/6/2021 07:32

Positive wording? Have you lost your mind Scars? We are there this is the beginning. This is everything. It is going to happen.

[rich1e] 04/6/2021 07:30

It all looks very positive, hopefully this is the start of completion and share price the rerate. Not just for myself, the research that some of you have provided has been invaluable to me over the last year, and I’m aware that many of you have had it tough. Fingers crossed, good day all

[daktari2k] 04/6/2021 07:28

but the financing is key, all this is just ground work.. they were supposed to have definite confirmation of financing by end of may.. this just kicks it out another month.. I hold shares, I'm not trying to talk this down so if im missing something in what appears to be a longwinded way of saying we have everything we need except the finances to move ahead please tell me.

[bostanli] 04/6/2021 07:27

hxxps://youtu.be/Z4IFtxQfLWg

[theaviator] 04/6/2021 07:24

It's happening! You wouldn't go throuhh all this for no backing. It's a coming..."construction contractor, Lycopodium Limited, has commenced this month"

[sussexlibran1] 04/6/2021 07:22

Well, this is my contrarian view :

"The timetable for Project finance remains for execution of detailed documentation as soon as possible after the KEFI AGM on 30 June 2021" - looks like more obfuscation and can kicking to me - "as soon as possible".

While I welcome an RNS to indicate that the project has not failed, this is less than I was expecting. Fund raise next week.

[theaviator] 04/6/2021 07:21

https://www.bloomberg.com/profile/company/LYL:AU#:~:text=Lycopodium%20Limited%20is%20an%20engineering,Lycopodium%20serves%20customers%20worldwide.

[scars] 04/6/2021 07:20

Very positive wording and all seems to be progressing. Should get it back up over 1.9 at least. The final financing will be the clincher though to get this moving.

[donegal1997] 04/6/2021 07:19

I don't see how Market can see it other than a positive. The only potential problem we may have to navigate is the general elections on the 21st but I don't see it being an issue.

[matthew stone] 04/6/2021 07:15

Credit where credit is due - that is exactly what we needed to hear.

[donegal1997] 04/6/2021 07:13

That's the best RNS we have seen in a while. Harry might actually get this done.

[1deedee] 04/6/2021 07:12

Still on track bloody marvelous

[1deedee] 04/6/2021 07:12

Shame it came on a Friday but good news is good news

[bluesbeater] 04/6/2021 07:11

KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update with respect to the Company's Tulu Kapi gold project ("Tulu Kapi" or the "Project").
Further significant progress has been made during May 2021 and KEFI is currently focusing on completing preparations for full Project launch after the Company's Annual General Meeting, which is expected to be convened in due course for 30 June 2021.  The Company remains on track to commence Project commissioning in late 2022 and to reach full production by mid-2023, in line with previous guidance.
Highlights of recent activities include:
·    The Project company, Tulu Kapi Gold Mines Share Company ("TKGM") has submitted to the Ethiopian regulatory authority, for its formal confirmation of compliance as part of the Project finance requirements, an updated detailed Project development and production plan.  Whilst final approval of this updated plan is awaited as a condition precedent of the Project financing, TKGM has exchanged formal confirmations with the licencing authority regarding TKGM's commitment to honour the already outlined Project timetable;
·    A new Project mining contractor, Corica Group, which is now the largest mining contractor in Africa, has been appointed, replacing the previous mining contractor on better terms after re-tendering of the contract.  A letter of intent has been signed with them covering the major works package due to commence its procurement any time from July 2021;
·    The early works programme with principal process design and construction contractor, Lycopodium Limited, has commenced this month and the major works package has been agreed to commence any time from July 2021;
·    Responses are up to date in respect of the senior lenders' due diligence requirements for credit approval. The timetable for Project finance remains for execution of detailed documentation as soon as possible after the KEFI AGM on 30 June 2021, then equity subscriptions for launch of full development, followed by debt drawdowns during Q4 2021; and
·    150 local personnel have been employed to prepare new host lands. TKGM have commenced compensation procedures for the small part of the community to be resettled that occupies the site for the planned electricity substation and starter homes have been fabricated and are being delivered to site for assembly.
 
The Company looks forward to making further announcements as the Project progresses.

[mesb48] 03/6/2021 23:03

taxlosstone - I’m at 90% probability, time’s up, but feel there’ll be a decent size rights issue alongside to complete the package - especially if Harry wants funds also to move Saudi further forward. But even without Saudi, I think there probably has to be a funding shortfall now to plug amongst the consortium or everything would likely have been announced by now.

[pensionplanner] 03/6/2021 17:42

Years or not he has rather overpromised and under delivered. Is all that about to change. Hope so.

[scrappycat] 03/6/2021 16:22

unionhall,

You appear to have forgotten the years prior to the pandemic.

[unionhall] 03/6/2021 16:16

What aggro has come their way ?

A few anonymous people on Bulletin boards ?

AGM's where no(few) private investors can attend ?

Quarterly's where questions have to be submitted in writing ?

They have lived a charmed life - far away from Aggro.

[scrappycat] 03/6/2021 16:05

I guess Harry & co are quite sensitive on that, given the aggro that has come their way over the years. If, as I surmise, it is pending, then it will not be that long before completion. The market seems to demand certainty, so I can well understand any reticence on Kefi's part.

[matthew stone] 03/6/2021 15:55

That all makes perfect sense, but why not reassure the market that things are still proceeding as planned? This radio silence is causing uncertainty and a declining share price, which just serves to increase the amount of additional shares required to complete our share of the funding.

[scrappycat] 03/6/2021 15:17

I have said my piece on how I view this share on many occasions (as Topicel, to his apparent chagrin, can vouch). Had the funding failed, we would have been informed. Ergo, it is still in play. However it cannot be notified as completed until contracts have been exchanged. It cannot, however be finalised until the additional shares required are approved via an AGM or EGM. It is not unreasonable, imo, to take the view that completion is pending. Of course, I could be wrong. If I am, it would seem to have taken an inordinate period of time to say no deal.

[mustafa15a] 03/6/2021 14:04

I would like to extend my gratitude to all the sellers if this afternoon, thanks to you I have picked up another big batch under 1.8p.....cheers