Kefi Gold And Copper Share Discussion Threads

[neilng] 01/7/2020 11:27

Yes HB I bought last week b/e now down to 3.7p. (Sorry wife bought just didn't tell her)Would you have been at 3% without all the dilution over the years?neilg

[hairyback2] 01/7/2020 11:00

neilng - yes,added about 12% to my holding last week and monday
HB

[robjm66] 01/7/2020 10:56

Mab Think the recent news about the two banks is instructive they must have had more insight than kefi us over what going on “In late 2019, KEFI announced that it had selected its preferred project infrastructure finance proposal, being a bank-loan based proposal received from Eastern and Southern African Trade and Development Bank (“TDB”) and Africa Finance Corporation (“AFC”),”

The Government of Ethiopia has already commenced construction of the offsite infrastructure (electricity and roads) required for Tulu Kapi that it is funding.

The off-site infrastructure is being built and operated by the Ethiopian Roads Authority and the Electric Power Corporation. Both of these Government entities have received budget approval and executed sub-contractor and procurement documentation.

“The Project must and will keep moving forward given that the other shareholders of TKGM are already actively deploying funds and because of its prominence and importance in the burgeoning Ethiopian mining sector.”

[mab] 01/7/2020 10:45

Kefi from my understanding was meant to recieve the ANS $10-$35m etc in march which was to pay for pre major works in the lead up to full finance close in oct. if no money has been recieved and no work done in preparation for major works, how can things be still on track and not 3 months behind schedule...?

Nothing has been done since the ANS missed payments and covid lockdown apart from:

.more crushing dilution for shareholders
.cheap shares issued for harry's mates at bottom of market
.hopeful news issued for mates to sell into for profit

the cycle continues..

[neilng] 01/7/2020 10:41

Hi HB have you still been buying?neilg

[robjm66] 01/7/2020 10:32

Well its a consortium so would not have been straightforward but agree maybe Harry was too trusting. Plus maybe full checks were done the money looked like it was there then circumstances changed or for some reason ANS were reluctant to put the full amount up.

[jaylett] 01/7/2020 10:28

That doesn't excuse the lack of DD in any way.

[robjm66] 01/7/2020 10:26

Maybe Kefi and Harry had less options when ANS made their first appearance and the gold price was substantially lower than it is now.

"Given the robust economics of the Project we have received significant interest” "We are particularly fortunate that the gold sector is in robust health”. Sentiment has changed around gold and gold stocks.

[hodhasharon] 01/7/2020 10:21

HAYD looks like there's some upside potential. I'm buying on the dip.

[jackjackpaul] 01/7/2020 10:20

o/t HUGE rns at KDNC

KDNC should be 20p+ At least on that NEWS.£10m MCAP and look at the deal for there 30% .. Multiple projects not added Chart with upwards trend, Hit 30p not so long ago, MORE NEWS TO FOLLOW as per RNS..

[jaylett] 01/7/2020 10:20

Not only did we not do DD or get any proof of funds, we entered into an exclusive agreement that effectively held the company to ransom at the same time. It's a resignable offence, for both CEO and CFO. They are buffoons.

[robjm66] 01/7/2020 10:09

Good post Hairyback.

[robjm66] 01/7/2020 09:54

Think its a mixture of keeping a option open Chopper and not upsetting anyone leaning to more not upsetting anyone. If you pick apart the RNS it shows that there has been more sustentive talks going on and there is the outline of a deal or deals.

Deal subordinated debt, working capital facilities, offtakes, potential expanded role for financiers, already in discussion proposals received from including a option to reduce the number of shares it issues to any third party.

---

and one or more specialist mining financiers that provide financing facilities under subordinated debt. Such facilities may comprise the long-planned working capital and stockpile facilities and associated forward sale, offtake, streaming, royalty or similar arrangements ("Specialist Mining Financiers").

including the potential for an expanded role for the Specialist Mining Financiers.

TKGM is already in discussions with a range of Ethiopian investors and a number of international Specialist Mining Financiers,

introduced by its shareholders KEFI and the Ethiopian Government,

As a new development, based on discussions and proposals received to date from Specialist Mining Financiers and Ethiopian investors, TKGM is now also seeking to potentially reduce the number of shares it issues to any third party

[gibrewog] 01/7/2020 09:53

Chopper Harris - fully agree with all your comments and cannot see any chance of all the funding being in place by end of October.

[chopper harris1] 01/7/2020 09:33

The very fact that they're still offering an opening to the clowns ANS, after all this time of them failing to come up with the money, suggests to me that the "discussions with a range of Ethiopian investors and a number of international Specialist Mining Financiers" are perhaps not progressing as positively as this morning's RNS would otherwise have us believe.

Why wasn't alternative funding already lined-up, to be activated as soon as the deadline passed for ANS? They had enough time and desire to sort that out, especially as the EG are meant to be so supportive of TK. Now we have weeks (optimistically) or months of negotiations, due diligence and grand signing ceremonies to look forward(?) to.

I fail to see how full project funding can possibly be in place by the end of October.

[robjm66] 01/7/2020 08:45

“TKGM is already in discussions with a range of Ethiopian investors and a number of international Specialist Mining Financiers,  introduced by its shareholders KEFI and the Ethiopian Government,” and the Ethiopian government, suggests government ok with new arrangement should be easier and quicker to arrange the finance with experienced financiers plus good to build up those contacts to develop the expansion more quickly in Ethiopia.

[aircomm] 01/7/2020 08:40

Very encouraging news. I think this is a tipping point, and the momentum is with Great Uncle Harry. Liquidity crisis may still weigh heavily, but there is now a way through this and a willingness to make October more than another date in the calendar. The Board deserves credit. Whilst I appreciate LTH frustrations, I’m not convinced referring to AIM Regulation/FCA etc. is productive or necessary.

[robjm66] 01/7/2020 08:34

“However, whilst we continue to welcome ANS Mining and offer them the opportunity to invest, this can no longer be on an exclusive basis. The Project must and will keep moving forward given that the other shareholders of TKGM are already actively deploying funds and because of its prominence and importance in the burgeoning Ethiopian mining sector.”

“Given the robust economics of the Project we have received significant interest to provide the outstanding asset level equity and other forms of duly subordinated investment, not only from other domestic investors, but also from international specialist mining financiers. Now the deadline of 30 June 2020 has passed we will look to draw these discussions to conclusion ahead of full financial close in October this year.“

[robjm66] 01/7/2020 08:28

Was more angry yesterday Jaylett with the Rns not being clear over what kefi were actually doing it was another wtf (Excuse my french) moment in a long line. With ANS suspect harry was in a bind with them wanted them to succeed and did not want to upset anyone they had influence with and maybe some local politics was involved as well.

Yes would have been nice if ANS had put up or shut up ages ago but it is what it is as the say. At least this Rns is more accessible might even end up with more of the revenue from TK than expected and already in talks.

[robjm66] 01/7/2020 08:19

“TKGM is already in discussions with a range of Ethiopian investors and a number of international Specialist Mining Financiers, introduced by its shareholders KEFI and the Ethiopian Government, to ensure the required Project equity is secured well in advance of the closure of the full financing package in October 2020.“