Kefi Gold And Copper Share Discussion Threads

[tidy 2] 18/11/2019 18:36

1.33% spreadex from the last TR1

[oilisgold] 18/11/2019 18:26

From the TR1, still appears few % shares left before all is clear. Timing is the key now, very risky to be out as if RNS drops you could be caught PANTS down. KEFI, perfer midday RNS, so good luck everyone. This is where patience is tested.

[shanur90] 18/11/2019 18:20

Someone explain the spread ex tr1s

[andysand] 18/11/2019 17:51

Of course it could be weeks :) This is Ethiopia. Could also be tomorrow. If we knew the future, we would all be rich already.

[smackeraim] 18/11/2019 17:47

The market oracle hath spoken tidy

[oilisgold] 18/11/2019 17:11

Tidy, i suggest you chill for next few days or weeks. Very tough resistance line at 1.83 approximately. You need a volume driven rise normally to break out.

[tidy 2] 18/11/2019 16:22

Moved up 3v1 now

[cjm681] 18/11/2019 16:14

"This being a public-private partnership and an innovative first-mover project may easily cause delays but we have seen none so far" - there's the insurance policy!

[robjm66] 18/11/2019 15:54

When you think about it the penultimate stage where all the various shareholders sign will be the no going back point.

[robjm66] 18/11/2019 15:40

One of those explanations that leave people more confused than before they get it (call it the prince Andrew effect).

However “review these administrative changes” have to do this before you can “update the shareholder documentation accordingly for TKGM;” then distribute the revised documents to the partners’ compliance teams and boards as the case may be;”

If they are about “half way though” suggests that they are sending or sent the revised documents out which makes sense as they could not send them out till they could be sure there were no more revisions needed which they could not do prior to the recent government Admin issue being sorted.

Says one to two weeks for each step but the last two steps should be the quickest just some kind of signing ceremony I would think and the final triggering.

[seball] 18/11/2019 15:38

Yes they already half way through so they will be concurrent imo News very close. Good luck all

[goatherd] 18/11/2019 15:36

I think so gdavies.

I would suggest the processes are done by each individual institution according to their own rules.

[topicel] 18/11/2019 15:35

Good point gdavies2. I blooming well hope so or else it is Xmas at best...

Some might find the time useful to raise funds for some even cheaper shares I suppose but there is more relief in knowing we are underway than trying to gain at the margins now, imho.

Topicel

[gdavies2] 18/11/2019 15:26

'Those processes are in train and in Ethiopia typically take between one and two weeks each'

Are they concurrent?

[seball] 18/11/2019 15:19

Excellent thanks goatherd. Not long now for news. Strong Buy Good luck all

[goatherd] 18/11/2019 15:07

From the KEFI website

What is the process for settlement by ANS Mining in TKGM in Ethiopia?
Following receipt of this confirmation from the Ethiopian Government on 7 November that it had resolved its internal administrative arrangements, the partners of the Project subsidiary, Tulu Kapi Gold Mines Share Company (“TKGM”), were in a position to proceed to:

review these administrative changes;
update the shareholder documentation accordingly for TKGM;
distribute the revised documents to the partners’ compliance teams and boards as the case may be;
sign final documentation relating to the shareholders’ agreement; and
trigger subscription procedures for the Project equity capital.


Those processes are in train and in Ethiopia typically take between one and two weeks each, as was stated in the shareholder webinar at the end of October.

This being a public-private partnership and an innovative first-mover project may easily cause delays but we have seen none so far. We are about half way through these steps and certainly KEFI would announce if there is any material change.

Posted 18 November 2019

[shafaq] 18/11/2019 14:50

Edgein I'm not worried at all my msg was for the doubters who thought no news today is bad news.

[franki8] 18/11/2019 14:49

feels like this will pop any moment

[edjge2] 18/11/2019 14:45

made my initial punt here. follow flog. hoc out of range for now.

[edgein] 18/11/2019 14:23

Yes here it is from 4th September:

"Statement by ANS Mining Director, Ato Demissie Demissie: "ANS Mining is an Ethiopian investment company formed by a syndicate of leading Ethiopian investment institutions to participate in the Tulu Kapi Gold Project and then to consider follow-up investments in the newly prioritised mining sector in Ethiopia. As investors we have done this before in other industrial sectors and now mining is a top priority given the Government's policies and the growth potential we see."

Since TK is currently the forerunner of their mining sector and literally going to be a gold mine when in production its clear imo why it would be a priority for ANS.

Regards,
Ed.

[edgein] 18/11/2019 14:17

Shaf,

If you read what ANS mining is you shouldn't be too worried imo. ANS was set up by Ethiopian institutions as a way to invest in the new and growing mining sector after their success in the industrial sector (see RNS I think it was from September this year). Given Ethi's growing economy over the last decade they'll have made their cash for sure. Now with TK on the cards looks as if they'll do it again in the mining sector, KEFI is already a major player in Eth. I have no fears or doubts about ANS whatsoever. Looking forward to financial close now that the last admin issue was recently settled by their gov. I see financial close and commencement of construction as a matter of time. Also expecting more assays to come from those first holes in SA any day now too.

Regards,
Ed.

[mam fach] 18/11/2019 13:49

Still good price to buy,not sure for how much longer.
More sells than buys and price holding pretty well.
See where we go from here. GLA