Kefi Gold And Copper Share Discussion Threads

[estseon] 04/6/2021 08:45

Replacement operator - no explanation.



Corica has contracts with some big name gold miners like Barrick and Allied Gold.

Consequence of changing operator - approvals required from all other parties + government approvals - note the previous reference to the TKGM board meeting (Kefi + EG) in the 17 May RNS. Documentation change.

It appears from the RNS that all parties have approved the change with only the final approval of the package to be received from the "regulatory authority".

Speculation on 'better terms':

The DFS includes costs for training and for pre-commissioning costs of stockpiling ore. The contractor supplies the vehicles and recovers their costs through its "per cubic metre delivered ore" charge. If Corica is willing to self-fund that pre-commissioning cost, it will be shouldering part of the total funding requirement. That is pure speculation.

Corica also might provide the enhanced 'local participation' in place of pure equity provision.

[shortarm] 04/6/2021 08:39

Hehe, full metal panic mode?

[megordon] 04/6/2021 08:37

Yes, or how much more fundraising to pay for all this since still no financing tied up.
What's the financing problem?
Just another delaying tactic.
Everything's wonderful, waffle waffle waffle, oh but we don't have money to pay for it yet.

[bostanli] 04/6/2021 08:36

I think for lots of reasons having this large African based contractor is good, but probably for Harry it’s all about the “numbers”; stacking up, cheaper costs!!

[rich1e] 04/6/2021 08:25

Naming of the finance partners, next week, would be a good move

[robjm66] 04/6/2021 08:25

Think the company is on track now though not sure if they have been totally up front over last minute hitches.

“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.”

Company would not be doing all this unless they were pretty confident of go ahead fits in with the adverts we have seen.

[robjm66] 04/6/2021 08:18

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;

Maybe I am being too negative looks like any delay will be short or was short. Seems due to re-tendering of contract of course does beg the question why the contractor was replaced could be they came in at the last minute with a better deal or other contractor got cold feet probably a plus that it is a African contractor as they will know the kind of issues with operating in Africa.

[megordon] 04/6/2021 08:09

More can kicking which explains yesterdays drop, should have held off with my top up.
Obviously leaked news caused the drop yesterday and continuing today with still no funding.

[scars] 04/6/2021 08:09

As predicted still no fireworks, maybe later today!

[philjeans] 04/6/2021 08:09

Good time to BUY here - all to play for now.

Bargain!

[scars] 04/6/2021 08:08

Well said Rio! Still holding... have been here a long time through the lows... just above break even through doubling down. Have been a little nervous as I can see others have been recently with the rumours of letters etc. But there seems to be a distinct uptick in action now and a distinct change in tine and wording, which gives me a bit more confidence.

[robjm66] 04/6/2021 08:05

“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,“

Looks to me timetable maybe slipped a bit but things could be a lot worse.

[dragon35] 04/6/2021 08:05

Looks like a great RNS. What price is the equity being raised at to drawdown and match against the debt finance?

[riotinted_specs] 04/6/2021 07:51

I have not been down thumbed once in the five years I've been here and all of a sudden a few total unknowns come in and low and behold down ticks. I guess this it what happens when you strike the yellow meta, prove the resources and have independent JORC certification. Oh this is going TO LAUNCH. Just do the maths, the most undervalued share in LSE, AIM, TSE, TSE.V

[joeblogg2] 04/6/2021 07:49

Have to agree with rio too much going on fir not to happen: contractor, resettlement...

[ram6ler] 04/6/2021 07:48

rio,

you will need to reach for the viagra for that

[theaviator] 04/6/2021 07:46

Arry needs a super hero hoodie! Lol ;)

[bostanli] 04/6/2021 07:45

This contractor would not be involved if this was not going ahead. Key news

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

[riotinted_specs] 04/6/2021 07:42

Exactly our Harry a hero a lord emperor king. Ohh it is a proud moment and I can not wait till the old boys wake up.

[riotinted_specs] 04/6/2021 07:41

God damn right I am right, we are going to be the largest net export revenue earner of the fastest growing economy in the world. We did it. We are doing it, oh my word, I am beside myself. This does not go backwards

[pennstreet] 04/6/2021 07:39

Harry - he's only gone and done it!! ;0)

[riotinted_specs] 04/6/2021 07:38

You are missing the point. This is progress never before seen. An African contractor appeasing the continent. My word I am taking the day off work and you need to check if you have a pulse. We are here this is it THE MINE WILL OPEN

[theaviator] 04/6/2021 07:37

Rio is right, it's clear to see this is happening now which is an el of a relief for many of us and I'm really happy for the LTHs especially... We can wait until July as the so slowly rerates in the meantime. This should gain alot of traction now. Market will "get this".

[echoridge] 04/6/2021 07:36

Well daktar, what you're 'missing' is what economists call the 'Information Effect', i.e., effectively the guidance that the company is trying to convey without saying it explicitly. In short, by confirming that their previously released project timeline has not been altered, the company is imputing the fact that the financing arrangement is effectively done. Now the second thing you're missing, is that there is zero chance, 0.00%, that management would have been able to release such an imputation by its NOMAD in today's market. The AIM rules are simply too restrictive and the potential punishments for the NOMAD's management too severe, for it to possibly have passed their veto if it were not 'true' on the vast balance of probability. Period.