KEFI

Kefi Gold And Copper Plc

0.81
-0.03 (-3.57%)
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
  -0.03 -3.57% 0.81 5,675,008 08:18:42
Bid Price Offer Price High Price Low Price Open Price
0.812 0.87 0.81 0.81 0.81
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gold Ores 0.00 -4.92 -0.20 - 31.91
Last Trade Time Trade Type Trade Size Trade Price Currency
13:01:47 O 78,396 0.8165 GBX

Kefi Gold And Copper (KEFI) Latest News

Kefi Gold And Copper (KEFI) Discussions and Chat

Kefi Gold And Copper Forums and Chat

Date Time Title Posts
30/5/202307:54Is KEFI about to come good?2,039
28/5/202302:08Kefi yet another AIM listed fraud. 43
28/5/202301:04Kefi Minerals 2020 and beyond25,988
23/1/202316:04Kefi Minerals-2010 and into the Kingdom of Saudi Arabia64,343
22/11/202222:31Is KEFI about to come good?6

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Kefi Gold And Copper (KEFI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
12:01:490.8278,396640.10O
11:45:140.82239,6981,957.13O
11:31:380.83490,0004,088.56O
11:27:130.831,000,0008,308.00O
10:56:050.8212,270100.00O

Kefi Gold And Copper (KEFI) Top Chat Posts

Top Posts
Posted at 16/5/2023 17:06 by robjm66
Funny Estsoen it worse when a whole lot dwarves turn up on the doorstep.

Its ok TLT we all think you are great and deserve a pat on the back for your stamina ;-)

Transcript my comments in brackets as usual.

Interviewer kefi has been singing the prospectively of the Arabain Nubian shield since the company entered the country. Latest reports suggest that maybe the highest profile explorer Ivanhoe has launched one of the the largest exploration programs ever conducted. Whats the impact of this on kefi?

Harry its all good in that the Arabian Nubian shield has been known to the mining industry especially the Australian mining industry where we have similar geology for decades. Its always been geopolitics that determines the progress, kefi elected to jump into the Arabian nubian shield and into Ethiopia as well. We always had confidence in our ability to unlock discoveries which we have done and the world would wake up one day which it has now done (to Arabian nubian shield and Saudi mining potential).

Since 2008 we have spent thirteen fourteen years doing our ground work then all of a sudden we are a over night success and the whole world is jumping on board (the Saudi mining sector and the Arabian nubian shield area) so to us its a good thing.

Interviewer Perhaps moving to Ethiopia the local working environment has recently turned positive for the industry we had reports over the weekend suggesting that royalty fees on large scale mining projects could be cut down from seven percent to five percent we also have mps suggesting that the government has larger stakes in projects so how do you balance that it looks like good news as well as bad news?

Harry for us its only really good news because we have already brought the government in at both federal and regional level as shareholders they have large positions in the project they are partners and we did that very deliberately. Because we understand the importance of that to the community and the government and we dealt with this years ago and its now becoming a public issue so to speak but we have already dealt with that(reading the Article in the reporter it seemed more about the split in revenue between regional and national governments than anything else).

If the royalties are dropped its good news its only good for us and the industry (mining). It’s the same kind of thing as Saudi (what happened in Saudi) they are really activating their effort to attract mining capital explorers and developers and it now happening the governments are now working very hard to bring the world in and its happening. Its happening in Saudi Arabia and it will happen in Ethiopia and I both our projects are next in the queue in the countries, in both we have discoveries in both we have large ground positions (exploration portfolio and licence areas).

So to us it feels like a wonderful recognition a pat on the back for our foresight and stamina but more particularly it opens the doorway to us with (after) a lot of effort to making our projects realities and that is a wonderful thing in both countries (that things are now taking off after a lot of effort both by the countries and kefi).

Posted at 16/5/2023 07:55 by robjm66
“KEFI has established itself as an early-mover in the highly-prospective Arabia Nubian Shield and in Saudi Arabia in particular, where it holds fifteen exploration licenses, covering in excess of 1,000km2 , with existing JORC resources of 3.3 million ounces in gold-equivalent terms (KEFI beneficial interest c.0.9 million ounces gold-equivalent). Whilst we expect to significantly expand these resources over the coming years, the KEFI beneficial interest is already in similar to those of another Saudi-listed company with a market capitalization in excess of US$1 billion, demonstrating the demand for mining investment opportunities within the country.”


Jaylett anyone buying kefi are not necessarily going to do so to buy the management they are doing so to get exposure to the kefi licence areas in Saudi mainly and the Kefi Geo team that has an extremely high hit rate. So might not give a stuff about Ethiopia or Harrys past troubles there.

Saudi is taking off in a big way especially its mining sector and deals are getting done there below is just one days news.

htTps://www.arabnews.com/node/2303901/business-economy (Saudi mining)

https://www.mining.com/ivanhoe-electric-sets-up-jv-with-saudi-arabias-maaden/

Ivanhoe Electric (NYSE America, TSX: IE) is forming a 50/50 joint venture with Saudi Arabian miner Ma’aden to explore for metals considered key for the world’s energy transition in the Middle eastern country.

As part of the deal, Ma’aden will invest $126.5 million in Ivanhoe Electric equity, which grants the Gulf’s largest miner a 9.9% stake in the company, mining magnate Robert Friedland’s latest endeavour.

htTps://www.mining-journal.com/partners/partner-content/1452851/minerals-potential-using-data-to-make-the-arabian-shields-next-big-discovery

Mining has historically taken a back seat to the oil and gas sector in Saudi Arabia. However, all that is about to change, thanks to Crown Prince Mohammed bin Salman's Vision 2030, which aims to create a thriving mining and metals industry that leverages the Kingdom's rich mineral endowment - including the highly prospective Arabian Shield in western Saudi Arabia.

The National Geological Database aims to support the Kingdom's strategy and attract investment in its mining sector, by making geological, geochemical and geophysical data freely available to investors.

The availability of accurate data for the Arabian Shield and other promising mining areas will boost and accelerate exploration projects in these areas and provide the minerals the world desperately needs as it moves to clean energy.

https: //financialpost.com/pmn/business-pmn/jamjoom-pharma-owners-seek-up-to-336-million-saudi-ipo

The Riyadh initial public offering of generic drugmaker Jamjoom Pharmaceuticals Factory Co. got enough orders for all shares on offer within the first day of opening its books, a positive sign for what’s set to be the biggest listing in Saudi Arabia so far this year.

Posted at 08/5/2023 00:02 by katsy
I know this is THG centric article but it covers the ineptitude of the FCA

hTTps://businesscloud.co.uk/news/why-didnt-lse-spot-wandisco-scandal-thg-boss/

THG founder Matt Moulding has renewed his criticism of London’s public market.

The outspoken entrepreneur has been increasingly critical in recent months over the behaviour of hedge funds, media and bank analysts, who he has accused of creating negative coverage against UK-listed companies, including THG.

Last month he took to LinkedIn to claim: “The purpose of ‘the game’ is simple: bet that a share price will fall, and make sure you win the bet by doing everything possible to discredit the company.”

On Thursday he took to LinkedIn again to say he’d contributed to a review by Lord Hill into proposed reforms to the UK listing regime but said the changes will do little for the London Stock Exchange (LSE).


In particular, he questioned the LSE’s governance processes, citing the recent example of the Sheffield tech firm WANdisco, which is being investigated by the Financial Conduct Authority.

An internal probe found that recognised revenue of almost $15 million for FY22 was false, and that sales bookings of around $115.5m recorded in FY22 were also false.

Moulding wrote: “It’s laughable. Where were all the hedge funds, analysts and pundits ahead of Tesco’s £250m accounting scandal a few years ago? Or when BT recently had a similar issue in its Italian subsidiary? How did these LSE governance structures prevent the 2008 banking scandals, PPI or Libor rigging? And WANdisco a few weeks ago – really?

“There are barely 200 companies on the LSE with at least £1bn market cap, and none of the ‘highly skilled’ City professionals noticed the alleged massive fraud in WANdisco, as one of London’s 200 most valuable.

“It’s not like it’s a complex business – after a decade on the LSE it had c£10m in revenues, and then suddenly announced revenues didn’t exist after all.

“And so, the idea that the standards on the LSE are above other markets is ridiculous.”

THG has seen its share price fluctuate wildly in recent days following speculation of a possible takeover by Apollo Global Management.

It’s currently back up to 110p, having dipped to 90p at 4pm on Thursday. In October 2022 it dropped to 32p.

Earlier this year Moulding used his 51st birthday to reveal he was saying goodbye to the ‘stiff upper lip’ and would be more outspoken on LinkedIn.

In his latest blog Moulding welcomed proposed changes by the financial watchdog the Financial Conduct Authority (FCA) but questioned whether they went far enough.


“The FCA announced it’s reforming itself and pledged to do better in tackling bad actors in the City,” he wrote.

“There were well over 2,000 allegations of foul play lodged with the FCA last year, with the FCA’s own survey finding the vast majority ‘extremely dissatisfied’ with a lack of action or engagement from the FCA.

“Instead, whistleblowers now often turn to the US regulator as a means of bringing an action in London.

“Many doubt real change can happen while the FCA continues to be closely supported by an advisory panel made up of the very people it is policing in the City. Turkeys don’t vote for Christmas.

“And so maybe the key lesson we should take from the US isn’t more rule changes, but giving our regulator the resources to tackle the well-known bad actors using the LSE as their private piggy bank.


“Doubling both staff pay and the team at the FCA would be the best investment we could make in London.

“A regulator that protects founders, boards and investors alike, instead of shielding investment bankers, hedge funds and pundits, is what it takes to make the LSE attractive once again.

“Hey, but what do I know – other than being a customer of the LSE and the target market for city reforms.”

Moulding has been subjected to intense scrutiny ever since the Manchester-headquartered eCommerce giant floated on the stock market in 2020 at a share price of 500p and embarked on a strategy of aggressive acquisition.

He received criticism from investors and the media alike over the fact that he operated as both CEO and executive chair. He was also criticised for holding a ‘golden share’ which potentially allowed him to block a hostile takeover.

Things reached a nadir in 2021 when THG held a capital markets day, which turned into a PR and financial disaster and the company’s share price bombed. Not even the fact that Moulding gave up his ‘special share’ rights and beefed up the corporate governance could stem the flood of negative stories.

Posted at 03/5/2023 07:33 by robjm66
htTps://www.kefi-goldandcopper.com/files/presentations/kefi-121-conference-presentation-3may23.pdf

Well skim reading impressions are there is not a massive amount to do to launch TK. Looking at slide 11 Ethiopian partners ready to take a greater share if kefi does not cover it.Getting continual emphasis on not just TK but exploration and district.

Other take aways obvious for anyone following things kefi drastically undervalued and has massive up side on Saudi listing slide 18

• AMAK (Al Masane Al Kobra Mining Company) is listed on Saudi Stock Exchange and has a market cap of $1.4 billionĀ² • KEFI is listed on AIM with a market cap of only £38M ($47M).

You can argue about how Nav but kefi has multiple areas where there are exploration expansion prospects (districts) and three main projects a multiple exploration areas all the ingreadiant of a future mid cap miner if not taken over.

htTps://www.weare121.com/121mininginvestment-london/

Posted at 28/4/2023 08:29 by robjm66
Tuna
htTps://www.kefi-minerals.com/files/announcements/kefi-firm-and-conditional-placing-20april22.pdf

(i)the holders of the Warrants must exercise the Warrants within 30 days from the occurrence of the Warrant Trigger Event; and

(ii) the Warrants will expire following the end of the 30-day period referenced above if not exercised.

So must be exercised at after price hits 2.4 or they lapse and obviously the warrant holders will exercise them as they will be getting a discount.

The warrant holders would have taken the warrents in expectation that the share price will hit those levels on TK progress and the can gets bargain on getting share at substantially less than the share price Since then had not only the recent progress in Ethiopia but the progress in Saudi. After all the warrents were set up in April 22 and JQ exploration licence was not renewed till October last year with license areas given over JQ in September then you have the Saudi listing and all the new areas kefi got in Saudi.

As Deltas chart shows been a lot higher personally averaged down so i can make a multi bagger here.

As for what the Sp should eventually be on the back of Saudi listing delta 5.8 pence is not a stretch looking at what Amak was valued at and over time should climb higher as mines come into production and new areas developed.

Posted at 27/4/2023 19:39 by robjm66
Avaitor have I our differences but its not Aviator in that post as he is not thick enough to not know that the warrants have an automatic share price exercise price and a paid price that is a discount to that price. Also of course Avaitor would not have bought some kefi and even if he bottomed drawed some unless he thought they would reach the trigger price unless of course he thought kefi was worth a much higher price on the Saudi prospects alone.

Which might be an argument at least certainly one that should occur to the warrent holders as the price climbs over the coming weeks.

Posted at 27/4/2023 16:41 by robjm66
htTps://www.kefi-goldandcopper.com/files/announcements/kefi-final-tulu-kapi-umbrella-agreement-signed-27apr23.pdf

The proposed c.US$320 million Project development financing (excluding the mining fleet provided by PWM, which is charged as part of mine operating costs) now provides for an up to c.US$245 million package from the co-lenders, comprising US$140 million senior debt, US$50 million mezzanine debt and up to US$55 million equity-risk ranking notes. This significant proposed package from the colenders significantly reduces the share-ownership dilution of the co-lenders' requirements for appropriate debt-to-equity ratios.

KEFI’s has already provided historical equity investment of c.US$95 million in the development of the Project to date. The residual Project equity finance requirement of US$75 million will be via share subscriptions in TKGM, and be covered by KEFI and its local partners. The largest local partners in TKGM are the Federal and Regional Governments whose component is c. US$28 million.

KEFI’s own underlying source of equity capital includes regional investors into the Company’s subsidiary KEFI Minerals (Ethiopia) Limited (“KME”), to support the development of a priority sector as set by Ethiopian Government policy. The largest of these regional investors is a British multinational industrial group investing US$15 million.

To complement the equity funding by local partners into TKGM and regional investors into KME, KEFI considers that the potential exercise of existing KEFI warrants will complete the required equity requirement and will leave KEFI with an economic interest of 70-80% in TKG.

Posted at 27/4/2023 12:05 by robjm66
Well picked a few highlights out though the whole thing is a highlight really.

The Agreement was signed at a ceremony in Addis Ababa attended by a number of senior Ethiopian Government officials, the British Prime Minister's trade envoy, the Ambassadors to Ethiopia for Britain and for Australia, in addition to representatives of the Project's participants and financing parties. (so the new trade envoy was involved maybe I should have contacted him joking apart obviously everyone is on board)

The Agreement also confirms that project costs and financial contributions have been updated, along with technical and legal due diligence having been updated, definitive agreements prepared and that the key required government actions have been agreed.(yippee)

The Agreement sets out the development sequence for Tulu Kapi over the course of 2023 as formally laid out for the Ethiopian Ministry of Mines and signed by Project contractors PW Mining ("PWM") and Lycopodium ("Lycopodium"). ;(obviously as the contractors and the minister are happy its major)

The positive refinement of the proposed financing terms over the past month reflects the support being shown by TDB and co-lender Africa Finance Corporation ("AFC") (banks happy)

At the current gold price of c.US$2,000/oz, all US$190 million of senior and mezzanine debt is projected to be capable of repayment within approximately two years of production cash flows commencing. (gold price has helped get this done always helps when you can pay back everything early)

The residual Project equity finance requirement of US$75 million will be via share subscriptions in TKGM, and be covered by KEFI and its local partners. The largest local partners in TKGM are the Federal and Regional Governments whose component is c. US$28 million. (local and national governments on board)

The largest of these regional investors is a British multinational industrial group investing US$15 million. (wonder who?)

KEFI considers that the potential exercise of existing KEFI warrants will complete the required equity requirement and will leave KEFI with an economic interest of 70-80% in TKGM.

KEFI expects to call a general meeting in June 2023

"We thank the new Minister for Mines, H.E Habtamu Tegegn, and his team for their energetic leadership and his commitment to rapidly advancing the mining sector in Ethiopia.) (There you go Tops he was active)

Was going to catch up on my gardening today but guess that’s out the window joking apart this is going to happen. Party after the general meeting champagne on Harry?

Posted at 13/4/2023 16:25 by robjm66
Well not going to get into a long back and forth as the other thread is the kefi thread now and people need to cool down but..

"The reality is lenders will lend for a lot longer than before as four things have changed for the better. High gold price with indications it will get higher two the mining investment climate in Saudi three kefis other gold project Jibal Qutman is steaming ahead and will be in production at the same time or maybe even before TK considering how JQ is going and the kefi saudi listing which financiers will be interested in. These factors hardily get talked about though as it simply does not fit some peoples agenda."

"The unsecured advances drawn are only half the levels we have used previously when we got up to c.GBP3 million. We greatly appreciate the confidence and support of our service providers and partners and of course the parties who provide unsecured advances."

As the gold price gets higher and higher and Jibal Qutman gets further along and the company works on a Saudi listing, banks and so on that can lend kefi money will do so as they see what is going to happen here.

Some times the planets just align ;-)

Posted at 12/4/2023 08:18 by robjm66
from kefi website


Q: Now that KEFI is preparing to launch full development at Tulu Kapi, could you please summarise the experience of the KEFI team in developing mining and ore processing facilities?

A: The senior executive committee includes development specialist (the Head of Project Development Norman Green who founded African development contractor Green Team International) , Eddy Solbrandt (the Head of Organizational and Systems development who founded international consultancy GPR Dehler) , Rob Williams (Head of Corporate Development who has carried out development and operational roles in projects for the world’s largest miner BHP and companies led by the Chairman). And the Chairman who has, as Managing Director, guided the successful development of Australian projects in gold, zircon, alumina, magnesia and gas.

Q: Can it really be that hard and take so long to close financing, now that the government people are collaborating properly?

A: We obviously did not predict the range of challenges we would confront when we entered the country in 2014, before the much publicized conflicts had emerged. And without wanting to be seen to deflect the question, one should better ask why this is the first large-scale mining development in Ethiopia for over 30 years - in a highly prospective geological terrain.

Q. Why is it that KEFI is the only company at this stage? Where are all the other companies that have explored in Ethiopia?

A. Many regulatory policies have to be revised to accommodate our proposal, from allowing market-based interest rates to relieving the capital controls to allow debt and equity capital to receive interest and dividends without restrictions. They are just two of many regulatory aspects that have taken many years to address. And they are all critical to protect a c. $400 million syndicate of banks, contractors and investors - especially public shareholders who do not directly sit at the negotiating table.

Lastly, security needs to follow a belts and braces approach before deploying hundreds of people and hundreds of millions of dollars in a country which has recently experienced security issues.

Fortunately, it is obviously coming together at last. and we assure shareholders that discipline is being maintained on the sequence of implementation, to protect all stakeholders.

Q: Can you comment on some bulletin board participants claiming you are misleading shareholders?

A: Anonymous comments are beyond the scope of legitimate attention for the company. One should remember that we have some 5,000 shareholders and few people post on the chat rooms, for reasons that are not always evident or transparent. It is indeed not easy to comment on this without being targeted by more anonymous chatter.

Posted 12 April 2023

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