Kefi Gold And Copper Share Discussion Threads

[andysand] 30/1/2020 07:56

I meant 'wouldn't'. iPad silliness...

[andysand] 30/1/2020 07:55

It would. But it will in 2 weeks. Or even possibly today.

[scotty1] 30/1/2020 07:51

Andy gold as been going up for a good while now,it aint had much impact on the share price as yet.

[andysand] 30/1/2020 07:49

That's irrelevant. The company will be at least partially valued on the current price of gold. If gold is at $2000 in 2 weeks, this will have a very large impact on the share price.

[outlawinvestor] 30/1/2020 07:47

Excerpt from RNS 25 Nov




Project Equity

Following the internal Ethiopian Government administrative issues having been resolved, as announced on 7 November 2019, TKGM's three shareholders (KEFI, ANS Mining Share Company ("ANS Mining") and the Ethiopian Government) have completed the following as planned:

§ The Ethiopian Government's internal administrative arrangements have been examined and refined to all stakeholder's satisfaction;

§ The TKGM's shareholders agreement has been updated and circulated for approvals; and

§ The equity subscription into TKGM is in the process of being carried out, comprising several steps which take some weeks to complete under local laws and procedures.

The planned total investments into TKGM are unchanged, but the details have been refined as follows:

· The Ethiopian Government investment remains at US$20 million (Ethiopian Birr-equivalent) and the Government is now at liberty to allocate its holdings between wholly-owned Government entities, as appropriate, to reinforce social licence; and

· ANS Mining's investment remains at US$38 million (Ethiopian Birr-equivalent). The initial investment has been increased from US$11.4 million to US$15.2 million, being US$9.5 million upon short term closing and US$5.7 million in due course.

The initial Project equity investments are now just subject to normal disclosure and subscription protocols including Board approvals of final documents, notarisation and registration of the share subscription documents by the Ethiopian Department of Trade and Industry under Ethiopian law.

The remaining project equity instalments are tied to satisfactory progress in respect of:

· The offsite infrastructure being completed against milestones so that Government equity in TKGM may be issued; and

· The independent assessment reports being satisfactorily updated, as they have been satisfactorily updated this month, for closing of full project finance so that ANS Mining equity in TKGM may also be subscribed and issued.

[scotty1] 30/1/2020 07:47

Andy it would be great if we were actually producing gold,by the time we are gold will have done it's cycle and be on it's way back down 🤣🤣🤦‍♂;️

[cutandpolished61] 30/1/2020 07:45

What are you expecting? A GM and then they walk away?

[andysand] 30/1/2020 07:45

Not only is this great news, but gold is about to go nuts too. Be thankful you are right where you are. It's just about the best place to be with a falling market.

[outlawinvestor] 30/1/2020 07:43

We now have a firm date for the funds.

Erm, no, you have a firm date for a meeting. Funds to follow sometime afterwards.

Certainly feels like there is excessive timing lee-way afforded ANS; the $9.5m is 2/3rds of their initial $15.2m injection with "US$5.7 million in due course" and the remaining $22.8m subject to conditions. Personally, I can't blame anyone feeling jaded or nervous.

[chopper harris1] 30/1/2020 07:34

No, we don’t have a firm date. Note the word “expected̶1; which is one of KEFI’s favourites.

[bejubiant] 30/1/2020 07:34

Kefi will undoubtedly become a fabulous investment, despite the ongoing, mind numbing behaviour of the AN(u)S team.
The lesson here is “clearly state what you are going to do and by when.. then JFDI”... ie the total opposite of how these muppets have consistently behaved.

[bostanli] 30/1/2020 07:34

Well said Andy, I looked at it the same way.

[andysand] 30/1/2020 07:34

Talk about a wall of worry! Now, it's one thing to worry, but it's quite another to be paranoid.

[molatovkid] 30/1/2020 07:33

A lot of bellends on this thread or shorters.....pretty much the same thing

[scotty1] 30/1/2020 07:32

Andy doesn't look like a firm date to me i'm afraid,see that little word expected in this sentence.

"The subsequent transfer of the first funds from ANS Mining to TKGM is expected to occur following the Meeting."

[jaylett] 30/1/2020 07:32

We have an expected date, not a firm date, which is also not within the previously advised window for transfer of funds.

"The existing TKGM shareholders have been very supportive of the Project and now TKGM will be further empowered by the transfer of the first tranche of the ANS Mining funding of US$9.5 million (Ethiopian Birr equivalent) to TKGM during January 2020, following the completion of certain procedural matters."

Spin it how you like, it's a delay. There is no way on Earth it is "terrific news" ffs.

[andysand] 30/1/2020 07:29

What on earth are you all talking about.We now have a firm date for the funds. It's feb 14th. That's not a delay. 2 weeks wait after all these years? And an actual date? This isn't bad news at all. It is terrific news.

[scars] 30/1/2020 07:27

The subsequent transfer of the first funds from ANS Mining to TKGM is expected to occur following the Meeting.

Slightly vague, but could be a happy Valentine's Day!

[sweetwaters] 30/1/2020 07:26

Wow indeed.

If they wanted it developed it would be underway.

ANS see more value in delay than progressing development of the mine.

[iamgreat1] 30/1/2020 07:24

Looks like further delaysDrop today down big

[bejubiant] 30/1/2020 07:21

Useless w4nkers

[jaylett] 30/1/2020 07:21

"The subsequent transfer of the first funds from ANS Mining to TKGM is expected to occur following the Meeting."

Hmmm. Another delay isn't ideal to begin with, but this is worryingly vague. When exactly after the meeting? Expected to occur?

Why do they need two weeks to convene this meeting? Surely that could have been lined up to take place now, at the conclusion of whatever these "procedural matters" were?

Does no one actually want to get this mine built?