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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Kefi Gold And Copper Plc | LSE:KEFI | London | Ordinary Share | GB00BD8GP619 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.004 | 0.57% | 0.707 | 14,731,807 | 16:35:04 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 0.696 | 0.718 | 0.73 | 0.70 | 0.71 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Metal Mining Services | -6.36M | -0.0013 | -5.54 | 35.75M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:07:41 | O | 4,000,000 | 0.707 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 31/10/2023 | 16:37 | ALNC |  EARNINGS AND TRADING: Kromek wins deals; First Class Metals optimistic |
| 31/10/2023 | 07:00 | UKREG | Kefi Gold and Copper PLC Q3 2023 Quarterly Operational Update |
| 09/10/2023 | 09:10 | UKREG | Kefi Gold and Copper PLC Holding(s) in Company |
| 05/10/2023 | 11:33 | ALNC | IN BRIEF: Kefi Gold & Copper shares rise as regulatory issues resolved |
| 05/10/2023 | 10:39 | UKREG | Kefi Gold and Copper PLC Tulu Kapi Update |
| 29/9/2023 | 13:29 | ALNC | EARNINGS: Beacon Energy and Kefi Gold & Copper losses widen |
| 29/9/2023 | 06:00 | UKREG | Kefi Gold and Copper PLC Interim Results |
| 12/9/2023 | 16:50 | UKREG | Kefi Gold and Copper PLC Grant of Share Options to an Adviser |
| 12/9/2023 | 09:14 | ALNC | Kefi Gold & Copper notes Ethiopia directive on Talu Kapi gold project |
| 12/9/2023 | 06:00 | UKREG | Kefi Gold and Copper PLC Tulu Kapi Gold Project Update |
Kefi Gold And Copper (KEFI) Share Charts1 Year Kefi Gold And Copper Chart |
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1 Month Kefi Gold And Copper Chart |
Intraday Kefi Gold And Copper Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/11/2023 | 17:01 | Is KEFI about to come good? | 3,630 |
| 30/11/2023 | 11:41 | Kefi Minerals 2020 and beyond | 27,470 |
| 06/11/2023 | 19:29 | Kefi yet another AIM listed fraud. | 63 |
| 23/1/2023 | 16:04 | Kefi Minerals-2010 and into the Kingdom of Saudi Arabia | 64,343 |
| 22/11/2022 | 22:31 | Is KEFI about to come good? | 6 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2023-11-30 17:07:41 | 0.71 | 4,000,000 | 28,280.00 | O |
| 2023-11-30 16:38:05 | 0.71 | 1,000,000 | 7,100.00 | O |
| 2023-11-30 16:21:18 | 0.70 | 200,000 | 1,394.20 | O |
| 2023-11-30 16:10:46 | 0.72 | 5,066 | 36.25 | O |
| 2023-11-30 15:38:24 | 0.71 | 141,250 | 997.08 | O |
| Top Posts |
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Posted at 30/11/2023 08:20 by Kefi Gold And Copper Daily Update Kefi Gold And Copper Plc is listed in the Metal Mining Services sector of the London Stock Exchange with ticker KEFI. The last closing price for Kefi Gold And Copper was 0.70p.Kefi Gold And Copper currently has 4,965,124,857 shares in issue. The market capitalisation of Kefi Gold And Copper is £35,748,899. Kefi Gold And Copper has a price to earnings ratio (PE ratio) of -5.54. This morning KEFI shares opened at 0.71p |
Posted at 18/11/2023 15:09 by robjm66 Nyota made a mess of the original plan kefi cannot claim responsibility for that but will benefit by the new plan ditto gold price bit different from bank changes as kefi did push for those and would allied have invested in Ethiopia if kefi had not removed some of those hurdles holding back the mining industry in the country.The resource is not the same as they now have a plan for a mine under the original mine as TK open at depth obviously the mine being more economical due to the higher gold price means some gold that was not viable to mine before now is hence a higher capex but greater profits plus looking at deposits near TK. As for historical costs they were recognised at a high level so will be part of the calculation to see what share kefi get of TK. |
Posted at 14/11/2023 13:18 by robjm66 Zurich 2023 Precious metals Webinar notesEddy Solbrandt (Harry in KSA) Background in Saudi Artar largest explorer in the country Hawiah and jibal Qutman Ethiopia jv with local and national government ready for construction open at depth Now closing finance ready for launch and applied for more licenses in Ethiopia battery metals (Lithium mentioned a few times by kefi recently) Peaceful environment when kefi entered regional problems…havin About two weeks away from credit approval banks just written to them. March equity draw down. Planning to turn ground middle of next year. Saudi lots of changes. Very happy to help an example was a power line going thru mining site kefi mentioned it and two weeks late it was gone.. Saudi we can borrow seventy five percent of development costs at very low cost. Finance talks already in train. Comparison to Amak. Saudi are investing in there own countries hungry for more hence high valuation for Amak (and potential for Kefi). Kefi undervalued slide. 5m ounces resources, Ethiopian government committed to kefi exploration licence areas applications. JQ DFS Hawaih PFS. Banks two to four weeks banks on board (probably get go ahead from banks tow weeks then a bit variable the paper work to confirm maybe immediate a couple of days from bank communication). (timing does seem to conform with planned webinar after mining conference in Ethiopia). Question about TK expansion prospects Tk exploration couple more pits near as well as TK open at depth and a deep pit at TK. |
Posted at 02/11/2023 18:55 by estseon The share price almost certainly reflects that uncertainty, if you would excuse the repeated use of the concept.Those wanting to punt on miners have many safer alternatives to choose from, most of which would be massively undervalued at current prices if the gold and silver prices move substantially higher as some are forecasting. If/when Kefi finally concludes the financing of that ... mine, the swing in the price could be dramatic. More recent investors, not faced with massive losses on a sale of Kefi shares now, might or probably consider there to be a greater chance of making a pile on existing producers. The price action, therefore, does not necessarily indicate an expectation of failure. HAA did confirm that the completion processes are still "grinding along", so there is no need for LTHs to despair yet, IMO. |
Posted at 01/11/2023 07:17 by 12bn RNS Number : 7744R ///////Here is yesterdays RNS,feel free to discuss.Kefi Gold and Copper PLC 31 October 2023 31 October 2023 KEFI Gold and Copper plc ("KEFI" or the "Company") Q3 2023 Quarterly Operational Update Ethiopia - Tulu Kapi Progressing Towards Launch; Saudi Arabia - Exploration Results Show Potential for Resource Expansion at Jibal Qutman and Hawiah, Whilst Development Studies Progress KEFI (AIM: KEFI), the gold and copper exploration and development company, has focused on the Arabian-Nubian Shield since 2008, assembling a pipeline of projects in the Kingdom of Saudi Arabia and in the Federal Democratic Republic of Ethiopia, with the most advanced being the shovel-ready, high-grade Tulu Kapi Gold Project ("Tulu Kapi") in Ethiopia which is being prepared for its launch. We are pleased to provide this Q3 2023 operational update covering the three months to 30 September 2023 and more recent developments. This update encompasses the activities of the Company, as well as wholly owned KEFI Minerals (Ethiopia) Ltd ("KME"), majority-owned Tulu Kapi Gold Mines Share Company ("TKGM") in Ethiopia, and minority-owned Gold & Minerals Ltd ("GMCO") in Saudi Arabia . Executive Chairman, Harry Anagnostaras-Adams commented: "KEFI's third quarter was one of our having our heads down clearing many conditions precedent for the launch of Tulu Kapi Gold Project in Ethiopia and, likewise in Saudi Arabia, our team has continued clearing the checklist for shaping the development plans for the Jibal Qutman Gold Project and the Hawiah Gold-Copper Project. "Conditions in both of our host countries continue to improve for our industry and, whilst one should never discount the challenges in frontier markets, our teams are doing an excellent job, our partners, contractors and financiers are working with us closely and supportively and we are driving hard to hit our next big milestone which is to trigger before the end of this year the first stage of the Tulu Kapi Gold Project launch. "A sign of our confidence is that we are lifting our exploration ambitions in both Saudi Arabia and Ethiopia, where similar geology presents similar opportunity which we have come to understand since entering the Arabian Nubian Shield fifteen years ago. Our proprietary database has already helped yield our discoveries and we will continue to tackle our exploration pipeline during development of our production projects. "We have successfully assembled strong alliances with partners, banks and contractors in both countries which, in due course, will demonstrate their importance for KEFI's growth in terms of both local standing and local financial capacity." ETHIOPIA Tulu Kapi Gold Project Progress on all fronts maintains the plan to launch the high-grade Tulu Kapi Gold Project (2.1g/t gold open-pit Ore Reserve plus 5.6g/t gold underground Mineral Resource) before the end of 2023, and to scale up activities to full construction over the following months in line with the continued upgrade of security protections and preparations of the community. We will go as fast as the conditions on the ground warrant, to ensure rapid ongoing progress. The planned US$320 million project financing and launch sequence is being executed as follows: o Final credit committee approvals by the mandated development banks are now being processed after the finalised details of exemptions from exchange and capital controls were received from the Ethiopia Central Bank earlier this month. o Upon receipt of final lender approvals, the relevant field, legal, plant and mining teams will mobilise to concurrently complete: -- Community resettlement agreements with households, all of which has been planned in detail with the authorities and international specialist experts; -- Final procurement agreements for the fixed price process plant and the mining fleet, for which the contractors and fabricators are on standby; -- Detailed definitive documentation between all syndicate members, all of which has been drafted; and then -- Final Board approvals by the equity-capital providers, including the development banks themselves, regional investors subscribing to equity risk notes and the Federal and Regional Governments subscribing to share capital at the Ethiopian subsidiary-level. The finance plan is summarised as follows: o US$320 million: development capital excluding the mining fleet provided by the mining contractor including: -- US$190 million: secured debt (senior and mezzanine) from project lenders; -- US130 million: equity-risk capital (in US$ and Ethiopian Birr as required by the project), comprising: -- US$40 million: from the Ethiopian Federal and Regional Government; -- US$90 million: from KEFI subsidiaries, in turn sourced from Equity-Risk Notes ("ERN's") subscribed by the project lenders and large regional investors, with up to half of the ERN's being convertible into shares of KEFI (at KEFI's election) to be prohibited until Year 4 onwards at then prevailing market share prices. -- We are also arranging our subsidiary-level funding capacity to cover potential last-minute capital budgeting refinements such as pricing adjustments for the fixed-price lump-sum plant components last priced at end 2022. SAUDI ARABIA Jibal Qutman DFS The Jibal Qutman Definitive Feasibility Study ("DFS") is evaluating the economic and technical feasibility for building a set of adjacent open-pit mines and a centrally sited Carbon-in-Leach ("CIL") processing plant, to recover more than 500,000 ounces of gold, rather than the 169,000 ounces of gold originally envisaged in the 2015 Preliminary Economic Assessment ("PEA"). The 2015 PEA focused on a small heap-leach approach as a starter-project when, at that time, planning was based on a gold price of c.US$1,200/ounce. GMCO also continues to explore for additional resources on the same and similar structural belts at this project area. Key DFS workstreams which have now been completed include: -- metallurgical and geotechnical drilling; -- infill drilling to upgrade the resource classification; and -- metallurgical tests, indicating gold recoveries of c.90% for oxidised ore and 69-74% for fresh ore. Workstreams progressed during Q3 2023 included: -- finalisation of geological models to update the Mineral Resource Estimate ("MRE"); -- mine planning in more detail; -- finalisation of processing plant design; -- analysis of data from a ground magnetics survey and 23 trenches completed during the quarter, to better define drill targets and also to finalise the location for site infrastructure; and -- completion of the initial accommodation and works compound at site. Whilst the results of in-fill drilling and detailed mine planning are assembled for an update to the current MRE, exploration results build our expectation of significant further growth. Jibal Qutman MRE and Exploration Resource Consolidation Since January 2021, the JQ GMCO team has been working on Resource consolidation ahead of the DFS, completing 23,500 metres of diamond drilling which has been predominantly used on infill, metallurgical and geotechnical programmes. The 2023 MRE is nearing completion and will be finalised this quarter. The work surrounding this MRE has focused predominantly on resource classification upgrade and firming up grade distributions rather than resource expansion. Once finalised it will be used to drive the mine design and the subsequent Ore Reserve definition. Resource Expansion Following the completion of the resource upgrade and support works, drilling is now focused on the more then 12 other known mineralised targets within the previously defined mining licence area as well as the now much larger cumulative 270Km(2) exploration licence area. This larger exploration area hosts the north and south extensions of the known mineralised structures. Generative programmes have commenced this quarter to develop targets away from these defined JQ Resource areas. This exploration has included a ground magnetic survey, airborne magnetic survey, geological mapping and trenching. The generative work, whilst still in its infancy, has already allowed for numerous targets to be defined across the 270Km(2) area. Two of the near mine targets are currently undergoing drill testing with encouraging preliminary results. 1) The Red Hill 2 prospect. Located 1 kilometre along strike to the north of the main Red Hill resource this target has intersected the continuation of the main Red Hill thrust package, and identified gold zones extending for more than 185m along strike. This structurally complex area is still being evaluated so true widths cannot be estimated at this time however, the best trenches within this zone include: - JQT_403 intersected 39m at 1.74 g/t Au - JQT_404 intersected 27.3m at 2.1g/t Au Drilling to follow up on these results is underway with early holes JQD161 intersecting 10.23m at 1.0g/t Au and JQD222 intersecting 8.46m at 2.7g/t Au. 2) At the Asfinga target, which is located around 1km north of the 3K Hill Resource, four trenches have been opened to evaluate a shear hosted quartz vein. Early assays from trenching indicate mineralisation over a 150m strike length. The best trenches within this zone include: - JQT_414 intersected 16m at 2.31 g/t Au and 7.5m at 1.8g/t au, - JQT_417 intersected 25.7m at 0.71g/t Au and 18.5m at 1.35g/t Au and, - JQT_418 intersected 7.95m at 3.8g/t Au Four diamond drill holes have been completed to follow up on these results with assays pending. Jibal Qutman Development Planning The above work is designed to consider the alternatives for scaling the annual production capacity and then finalise the DFS, to optimise the project development plan, for approval by GMCO and our project finance lenders in Saudi Arabia. Based on encouragement from regulators and development financiers, we would then expect that upon GMCO resolving its commitment to develop, there will be minimal delay in obtaining a mining licence, closing project finance within Saudi Arabia and starting development in 2024, with the exact timing depending upon these reviews and regulatory processes. Hawiah Copper-Gold Project Hawiah DFS Hawiah sits at the northern end of the 120Km(2) long Wadi Bidah Metallogenic Belt (WBMB), in which GMCO has five additional Exploration Licences. Since the discovery of Hawiah in 2019 GMCO has drilled a total of 80,000 metres of diamond core (DD) and 5,500m of Reverse Circulation (RC) drilling and has established a Mineral Resource Estimate ("MRE") of 29.0 million tonnes ("Mt") at 0.89% copper, 0.94% zinc, 0.67g/t gold and 10.1g/t silver (see KEFI announcement dated 9 January 2023). This MRE contains a total of 258,000 tonnes (569 million lbs) of copper, 272,000 tonnes (600 million lbs) of zinc, 620,000 ounces of gold and 9.4 million ounces of silver. Whilst GMCO believes that the current Mineral Resource has further expansion potential, it already ranks amongst the top three base metal projects in Saudi Arabia and in the top 15% of VMS ("Volcanogenic Massive Sulphide") deposits globally by tonnage. During Q2 2023, KEFI announced the following was achieved by GMCO: -- a maiden MRE for the nearby (12km from Hawiah) Al Godeyer deposit of 1.35Mt at 0.6% copper, 0.54% zinc, 1.4g/t gold and 6.6g/t silver (see the Company's announcement on 3 April 2023); and -- Hawiah Pre-Feasibility Study ("PFS") outcomes on the open-pit and associated studies on the underground mine (see the Company's announcement on 28 June 2023). -- Commencement of the 50,000m drilling programme for resource category upgrade and expansion. The full mine development concept is still being finalised, but it is envisaged that initial open pit mining will be followed by, and complemented by, an underground operation. Mining optimisation studies will, in due course, consider a range of scenarios including various aggregate production rates and the ideal timing for starting-up the underground operation. Metallurgical test results, based on limited samples to date, indicate that a conventional processing flowsheet provides good recovery to a c.25% copper concentrate and a c.50% zinc concentrate along with gold doré. However, other processing flowsheets remain under consideration. Whilst the primary focus of the PFS was limited to the relatively near surface portion of the MRE within the Indicated Resource category, complementary studies on the deeper Inferred portions of the Mineral Resource have allowed a positive internal preliminary assessment to be made of Hawiah's economic potential. Hawiah Exploration and resource development In addition to the 50,000m Hawiah infill and expansion programme, GMCO have also focused on upgrading and expanding the existing Al Godeyer resource (12km west of Hawiah) through diamond drilling, whilst simultaneously conducting earlier stage exploration at Abu Salal (50km south of Hawiah) and mapping within the wider WBMB project area. Al Godeyer The first phase of the 2023 Al Godeyer drilling programme, which was completed in August, aimed at upgrading the maiden MRE and brings the project total meters to 4,230m of DD and 1,700m of RC drilling. A follow up phase of drilling is planned to commence following receipt and interpretation of pending assays with the target continuing to be the upgrade and expansion of the 1.35Mt Inferred Mineral Resource to an c.2Mt Mineral Resource at an Indicated classification. This would allow the defined Resources to support the planned Hawiah DFS, as a satellite open-pit. Abu Salal At Abu Salal, a total of 30 trenches have been excavated across the gossanous horizons which outcrop discontinuously over a 5km strike. Thicknesses of the logged gossans have ranged from 12-13 metres down to 0.5 meters, with multiple horizons intersected in several trenches. Assay results have been received for 17 of the trenches which indicates consistent gold mineralisation within the gossans. Gold grades reached up to a maximum of 3.01 g/t over a five-meter interval in AST_002, with an average of 0.6 g/t across all gossan intervals. Copper and zinc have been noted on the flanks of the gossan with grades of up to 5% copper noted in AST_017, indicating the presence of base metals at depth. The culmination of the geological mapping, self-potential (SP) geophysics and the logging and these new trench results have clearly demonstrated the potential for massive sulphide mineralisation within a westward dipping sequence in meta-volcanics, with a similar presentation to that of Hawiah and Al Godeyer. An initial 2,000m scout drilling programme at Abu Salal commenced in late September to test key areas of the outcropping gossans at depth for thickness and grade. The historic mineral occurrence at Abu Salal has never been subjected to systematic exploration or subjected to any form of drilling. KEFI GROUP Group Development Plan -- The planned KEFI Group project development sequencing remains as follows: o 2023 trigger of staged launch of Tulu Kapi open-pit development in Ethiopia for build-up to full construction over the following few months, commissioning production end-2025 based on 2023 reserves and resources; o 2024 launch Jibal Qutman open-pit development in Saudi Arabia based on 2023/24 reserves and resources and targeting first production 2026; o 2025-26 launch of the Hawiah open-pit in Saudi Arabia for first production to follow that in Tulu Kapi and Jibal Qutman; and o 2026 and thereafter launch of underground mine development at Tulu Kapi and at Hawiah for first production two years later. Group Metrics Aggregate Mineral Resources across all three projects are 4.7 million ounces of gold-equivalent in-situ, of which KEFI's beneficial interest is 2.0 million ounces. Aggregate annual production from the three advanced projects is currently projected at 326,000 ounces of gold-equivalent, of which 148,000 ounces is KEFI's beneficial interest, over an initial seven-year period. The Tulu Kapi open pit is already bankable with a 1 million ounce Ore Reserve. Combined with the first preliminary planned 250,000 ounce minable resource contribution from the underground mine. Tulu Kapi is planned to produce c.144,000 ounces gold per annum at start-up throughput rate. By lifting process-plant throughput by 20% to 2.4Mtpa, production would be c. 165,000 gold per annum at an All-In-Sustaining Costs of c.US$900 per ounce, assuming a gold price of US$1,600-2,000 per ounce. At those same prices, this provides Net Operating Cash Flow of US$112-156 million per annum (100% basis) for the first seven full years of production (2026-2032). Group Working Capital KEFI has working capital in place to underpin its planned runway to the intended launch of the Tulu Kapi Project finance in the coming months. This follows the Company's repayment of all debts in June 2023 upon completing an equity placing that raised gross proceeds of GBP7.2 million via a GBP5.5 million Firm Placing, GBP0.7 million Conditional Subscription, GBP0.24 million Retail Offer and GBP0.75 million Issue of Remuneration Shares in lieu of cash to senior executives. The issue of the Conditional Subscription, Retail Offer and Remuneration Shares were approved at the Company's Annual General Meeting on 30 June 2023 and these shares have subsequently been issued. Group Exploration Project Pipeline Ethiopia Project Pipeline We have registered a number of applications for new exploration licences. In addition, we have commenced administrative proceedings in respect of our long-standing proximal Exploration Licenses ("ELs") surrounding the Tulu Kapi Project Mining Licence area, in order to continue exploration programmes and community development which have always complemented the Tulu Kapi project. During an overhaul of the title-regulatory system in 2022, these ELs were over-pegged by a Hong Kong shell company owned by a British Virgin Islands shell company. We are confident that this situation can be resolved satisfactorily. Saudi Project Pipeline Following the expansion of GMCO's exploration portfolio to 15 ELs covering four project areas of more than 1,000km(2) , regional exploration teams have mobilised to the new ELs. As was the case at Jibal Qutman and Hawiah, many of these ELs have abundant evidence of historical workings and surface expression of mineralisation. GMCO has begun comprehensive mapping and sampling campaigns over the newly awarded licences. The outcomes of this fieldwork will be to ground-truth historical data, assess the surface mineralisation and describe the structural framework controlling mineralisation. These programmes are expected to build into progressively advanced exploration works, including geophysics and trenching. During the quarter, regional sampling of the Umm Al Khabath EL (located at the southern end of the Wadi Bidah Mineral Belt) returned anomalous gold and base metals. These results strongly support the interpretation that the Umm Al Khabath EL contains VMS style mineralisation, commonly found in the Wadi Bidah. INVESTOR WEBINAR |
Posted at 12/10/2023 12:59 by dead duck resources Kefi Q&As fact-checkedA: It is a statistical fact that AIM is currently at its weakest since 1995. And that the sectoral index has performed worse than the KEFI share price since both peaked in 2011. AIM All-Share hit a decade-low of 623 in 2020 and now 697. AIM has fluctuated between 650-1100 since the credit crunch, apart from an anomaly of a 16-month lockdown bounce above that range. AIM was at its weakest in the 2008/09 credit crunch when it hit 377. Therefore it is not a fact that the AIM market is currently at its weakest since 1995. Kefi is -99.6% since its 2011 peak, to say it outperforms the mining sector is absurd. |
Posted at 11/10/2023 07:56 by robjm66 From q and a section kefi website and lse thread.Questions regarding Saudi JV, AIM and KEFI staff Q:(1) Why did KEFI not keep its original 40% interest in the Saudi Arabia JV? A: Because of the dilution effect at the parent company level. Q: (2)How do we avoid dilution to an immaterial ownership level in the Saudi assets? A: As recently reported, the corporate structure is being revised to allow more financings at the level of different subsidiaries which, themselves, may consider an IPO in regional stock exchanges. Q:(3)The Chairman is critical of AIM. Has he ever done well from the stockmarket? I ask because I can see the strength of the team on the ground pulling through all the challenges of these projects and hopefully soon-to-be-start-ups in frontier markets, but I am looking for evidence that KEFI’s leadership understand markets. A: It is a statistical fact that the AIM market is currently at its weakest since being formed in 1995. And that the sectoral index has performed worse that the KEFI share price since both peaked in 2011. For that and other reasons, KEFI has arranged project financing in the local unlisted markets. We consider that to reflect an uncommon strength of the team. And we consider that it emanates from a record of successful start-ups in Europe and Australia in a number of commodities as well as in the non-mining sector. Q:(4)Why are KEFI staff based in so many locations rather than in England? A: All project staff are at project sites. All corporate governance staff are in Cyprus. A handful of other staff and most specialist consultants are in various time zones around the world, designed to maintain momentum 24/7 on key functions. Posted 11 October 2023 Guess someone has been reading Topicals and my posts ok i will play. Question (1) at some stage someone at kefi would have had to sit down and decide to keep plugging away at Ethiopia or put all the eggs in the Saudi basket. Maybe the earliest the decision could have been made was when Kefi knew it had something at Hawiah talking December 2019. Likely originally the twin track approach would seemed the correct approach before some problems arose in Ethiopia. Probably after that a decision point would have been when kefi got JQ back (with an enlarged area) then they would have known Saudi could definitely stand on its own two feet October 22. Think the biggest factor in not dumping the Ethiopian side and concentrating on just Saudi is Harrys commitment to Ethiopia and it mining sector. Question (2) Just have to accelerate this or you will get a stream of other companies beating kefi to the punch by listing before kefi and they will just stick mining in the name of the listing even if they do not have much in the way of mining operations. It will be like the dot com boom when people would invest in anything with dot.com in the listing name. Company just being too cautious they need to aggressively go after a middle east IPO not wait till a perfect time when the mining projects are more advanced there its not Australia where you are in competition with hundreds of other mining companies that’s the point. Question (3) Well Aim a total mess guess no one knows that better than anyone who has ever invested on it. Question (4) Think it might be time to get away from having a base in Cyprus originally might have had some historical reasons but it looks bad now not having those staff in Saudi or Ethiopia probably best place for HQ is in Saudi ahead of a listing or IPO. As for shareholder relations it only makes sense to have them in Australia if most of the shareholders were there which is not the case. |
Posted at 11/10/2023 07:52 by robjm66 Guess someone has been reading Topicals and my posts ok i will play.Question (1) at some stage someone at kefi would have had to sit down and decide to keep plugging away at Ethiopia or put all the eggs in the Saudi basket. Maybe the earliest the decision could have been made was when Kefi knew it had something at Hawiah talking December 2019. Likely originally the twin track approach would seemed the correct approach before some problems arose in Ethiopia. Probably after that a decision point would have been when kefi got JQ back (with an enlarged area) then they would have known Saudi could definitely stand on its own two feet October 22. Think the biggest factor in not dumping the Ethiopian side and concentrating on just Saudi is Harrys commitment to Ethiopia and it mining sector. Question (2) Just have to accelerate this or you will get a stream of other companies beating kefi to the punch by listing before kefi and they will just stick mining in the name of the listing even if they do not have much in the way of mining operations. It will be like the dot com boom when people would invest in anything with dot.com in the listing name. Company just being too cautious they need to aggressively go after a middle east IPO not wait till a perfect time when the mining projects are more advanced there its not Australia where you are in competition with hundreds of other mining companies that’s the point. Question (3) Well Aim a total mess guess no one knows that better than anyone who has ever invested on it. Question (4) Think it might be time to get away from having a base in Cyprus originally might have had some historical reasons but it looks bad now not having those staff in Saudi or Ethiopia probably best place for HQ is in Saudi ahead of a listing or IPO. As for shareholder relations it only makes sense to have them in Australia if most of the shareholders were there which is not the case. |
Posted at 11/10/2023 07:05 by robjm66 From q and a section kefi website and lse thread.Questions regarding Saudi JV, AIM and KEFI staff Q:(1) Why did KEFI not keep its original 40% interest in the Saudi Arabia JV? A: Because of the dilution effect at the parent company level. Q: (2)How do we avoid dilution to an immaterial ownership level in the Saudi assets? A: As recently reported, the corporate structure is being revised to allow more financings at the level of different subsidiaries which, themselves, may consider an IPO in regional stock exchanges. Q:(3)The Chairman is critical of AIM. Has he ever done well from the stockmarket? I ask because I can see the strength of the team on the ground pulling through all the challenges of these projects and hopefully soon-to-be-start-ups in frontier markets, but I am looking for evidence that KEFI’s leadership understand markets. A: It is a statistical fact that the AIM market is currently at its weakest since being formed in 1995. And that the sectoral index has performed worse that the KEFI share price since both peaked in 2011. For that and other reasons, KEFI has arranged project financing in the local unlisted markets. We consider that to reflect an uncommon strength of the team. And we consider that it emanates from a record of successful start-ups in Europe and Australia in a number of commodities as well as in the non-mining sector. Q:(4)Why are KEFI staff based in so many locations rather than in England? A: All project staff are at project sites. All corporate governance staff are in Cyprus. A handful of other staff and most specialist consultants are in various time zones around the world, designed to maintain momentum 24/7 on key functions. Posted 11 October 2023 |
Posted at 10/10/2023 10:56 by robjm66 Company would have been better focusing more on Saudi even with the much higher percentage ownership in Ethiopia just on the listing factor alone.I actually got slagged off by harry in a webinar accused of driving the share price price up by highlighting the fact that people were buying into kefi after looking at what happened at Amak. A big problem is harry simply does not get the market hence shareholders have had to highlight the potential of a listing till Harry got it. It was the same with funding projects at subsidiary level. What is productive for shareholders is to continually nudge harry to go in the right direction with positive suggestions but that not the same of just moaning about him that's more therapy for shareholders than having any productive effect. Not that i am suggesting shareholders need therapy after this long 😉 |
Posted at 10/10/2023 07:19 by robjm66 From bear666 lse thread via kefi websiteQ: Regarding disclosure of share trading via TR-1 forms, when was RAB Capital required to disclose their holdings in KEFI and did they comply? A: Any holder of more than 3% in an AIM-listed company must disclose via a TR-1 if (a) the holding drops below 3% or (b) a 1% change of shareholding was triggered (up or down) above 3%. RAB recently reported category (a). Q: Why did RAB Capital sell? A: We cannot speak for RAB, who have been supportive investors for decades in KEFI as well as in previous companies involving KEFI's leadership team. Q: Is it correct that the Executive Chairman has received cash remuneration totalling £1.7 million since 2006 (approximately £100,000 per annum on average)? A: That is approximately correct. Q: How many shares have contractors and employees been issued recently that are perhaps being sold to pay their bills? A: None have ever been sold by PDMR’s since a former director sold more than a decade ago, as was reported at the time. No contractors have been issued or sold shares, other than PDMR’s which is already answered. Q: How does the Tulu Kapi capex budget compare with that of Hummingbird’s new $100 million 1Mtpa processing plant in west Africa? A: The budget for Tulu Kapi's 2Mtpa processing plant is $170 million. We are not in a position to compare non-plant capex items of mining, social and finance costs. Q: Who answers investor questions and is involved in KEFI's investor relations generally? A: Our IR adviser in London manages official disclosures while the IR Manager in Australia manages the website and enquiries. Others are also involved in the process either for oversight or assembling answers (eg line management under the executive chairman) Posted 10 October 2023 |
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