Kefi Gold And Copper Share Discussion Threads

[rich1e] 17/5/2021 07:19

A good response would’ve been to release some details of the funding progress, this is what I believe we were to expect throughout May anyway. But apparently even this press speculation isn’t going to hurry them along.

[howling] 17/5/2021 07:15

.
Jolly Good
.
focused on completing preparation
.

[mlangton1] 17/5/2021 07:14

Is this what Ace Adams meant by regular updates in May?

[robjm66] 17/5/2021 07:13

Well gives the Ethiopians a get out everyone could blame it on press speculation and the letter might not be sent or quietly filed and forgotten after TK go ahead.

[pennstreet] 17/5/2021 07:13

It's good enough for me. If EG had intentions to revoke licences, they would not have wasted their time in advancing the project to this stage !

[robjm66] 17/5/2021 07:11

KEFI Gold and Copper plc
("KEFI" or the "Company")
Statement re Press Speculation
KEFI Gold and Copper (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, notes the recent media commentary in Ethiopia regarding an Ethiopian Mines Ministry briefing held on 14 May 2021 at which it is understood reference was made to the cancellation of licences awarded to 27 mining and exploration companies and which included a verbal reference by a ministry official to an intention to issue warning letters to three other companies, including 'Tulu Kapi Gold Mines'.
Neither KEFI nor its subsidiaries, KEFI Minerals (Ethiopia) Limited and Tulu Kapi Gold Mines Share Company ("TKGM"), nor any of their associate companies, are aware of any breach of any licence conditions and have not received any such warning letter nor had notice of such an intended letter flagged to them formally or informally.
The Directors of KEFI believe they have an especially close working relationship with the Ethiopian Government, which is a shareholder in TKGM at both the Federal and Oromia Regional levels.
Last week, formal meetings of the TKGM shareholders, board of directors and Project task force (comprising senior representatives of TKGM and all involving Ethiopian Government agencies) were held which agreed the tasks and timetable for development of the Company's Tulu Kapi gold project ("Tulu Kapi" or the "Project") to commence in the coming months.
It was agreed by all that, in this time of heightened anxiety around arguably the most important democratic elections in Ethiopia's history (which are scheduled for the end of June 2021), it remains most important for all parties joint focus to remain on reinforcing the collaborative efforts to complete the preparations for Project launch.
KEFI and TKGM are particularly grateful for the Ethiopian Government's efforts at all levels regarding the jointly-owned Project and its undertakings to complete its requisite final preparations for development to commence. Notwithstanding the obvious distraction of election time, it was agreed last week to upscale security around the Project, endorse KEFI's historical Project expenditure, confirm KEFI's exploration licences and confirm the construction schedule for the offsite infrastructure (roads and electricity connection). KEFI acknowledges and appreciates the huge effort required from such busy Government agencies.
All parties involved in the Project are extremely busy closing the financing and development preparations as outlined in the Company's recent announcements. KEFI consider it a privilege to have the opportunity to play a small part in the overwhelmingly positive transformation that is occurring in Ethiopia and KEFI are extremely proud that our joint KEFI-Ethiopian Government owned Project remains on schedule to launch shortly with the goal of ultimately contributing over US$250 million per annum to Ethiopia's export revenues.

KEFI remains focused on completing preparations for full Project launch as soon as possible after the Company's Annual General Meeting, which will be convened in due course for a date before the end of June 2021.
The Company will make further announcements as appropriate.

[sussexlibran1] 17/5/2021 07:08

@pennstreet - no it's not all good - it is just a regurgitation of yesterdays Q&A. I expect a big drop today.

[pennstreet] 17/5/2021 07:07

Rns - all's good. ;0)

[pennstreet] 17/5/2021 06:50

Captain - are you an accountant from Leicester?

[sussexlibran1] 17/5/2021 06:12

@topicel - I admire your bravery at telling the Mrs about Kefi, it's fortunate she has forgotten! Me, on the other hand - I still tell my Mrs everything - she rolls her eyes every time I say that funding is next month. Yesterday she told me to cut my losses and bail out. Even without reading a single RNS, article, bulletin board or presentation it seems that she could see right through Harry from the start. Only 48 mins to go until RNS time......

[theaviator] 17/5/2021 00:04

As they say, don't wish it away until it's rnsd. He's got two weeks..... Who knows...

[captain_kurt] 16/5/2021 22:57

From shareprophets today

Breaking: Is Kefi about to lose Tulu Kapi?

[taxlosstone] 16/5/2021 21:47

I am assuming that we have been waiting yonks for the funding because our would-be counterparts are playing hard ball. If we are indeed about to be yellow carded, I think that the terms we finally agree to might have just become even more onerous because we won't be able to bide our time anymore. :-(

[cool hand kev] 16/5/2021 21:34

I thought that the finance was going to be partly governmental funded so why would they want to pull the plug 🤔

[alancapone] 16/5/2021 21:15

“Breaking: Is Kefi about to lose Tulu Kapi?”

Source: ShareProphets

[scrappycat] 16/5/2021 20:37

You are both totally wrong. I too, am frustrated by the incessant delays, but I do understand his reluctance to throw away the connection with the EG. If successful, the rewards from the association are likely to be prolific. Plus, of course, the EG are providing the necessary infrastructure.

As for my 'loyalty' as you describe it, it is born from practicality, nothing more. If Harry fails to achieve funding via the current process, then I would not be averse to considering his replacement. Should the current funding plan fail, and I am sure we all hope it will not, speed of action to rectify the situation would be required, I do not associate such a characteristic with Harry.

As for you, Topicel, I am well used presenting and arguing cases at tribunals and would be happy to discuss such with you. However, I sure the readers here are bored to death by now. I know I am.

[neilng] 16/5/2021 20:06

When you have been here for 10 years you learn to show a little patience.

[rich1e] 16/5/2021 20:01

I should have said poorer than they are now, I am aware that some have been suffering here for a while.

[rich1e] 16/5/2021 19:58

Currently there are, probably, other options than ploughing the same furrow. Asses the situation, if TK is on track for June, fine. If not, they couldn’t find a suitable option to reward shareholders, and so the for-sale sign goes up over TK to allow someone with more financial clout, develop it in accordance with government timescales.

A warning is a warning, at this point there is no need for panic, or for anyone to end up poorer. If decisive action is taken going forward. Of course, I’m hopeful that plan A is going to come together in the coming weeks.