Kefi Gold And Copper Share Discussion Threads

[rich1e] 07/10/2021 09:54

That'd be a neat trick if Avatars could do that. Unfortunately they're, up to this point, a mere representation of the human behind them

[monte1] 07/10/2021 09:40

Are any other avatars conjuring up mental images of the fyre festival?

[robjm66] 07/10/2021 09:33

Probably dancing around the subject a bit as it is something that should have been sorted by the Ethiopians but would be counterproductive to embarrass them by making it too obvious that that is the case.

[goatherd] 07/10/2021 09:07

It is intriguing, but I THINK (i.e. I am not certain) that as the webcast is at 6pm, with the markets closed, Harry could give out previously unknown information provided it is also announced by RNS before the markets do open.

If so, he could announce anything tonight, and RNS it at 7am tomorrow.

Of course, I am not saying he will, just that, IMHO, he could.

[digger2779] 07/10/2021 09:05

Thing is Kefi should say what is actually been done about it! ie "we have asked the EG to intervene" not just leave it up to a guessing game. Usual wooly guff.
"Escalated physical traffic"- what does that mean? Are more trucks using the road, what is he referring to?

[robjm66] 07/10/2021 08:24

Think it’s good news that it’s not the actual community itself get the impression that Kefi wants the Ethiopian mining ministry or government to intervene to solve the problem.

[robjm66] 07/10/2021 08:17

hxxps://www.kefi-minerals.com/files/announcements/kefi-company-presentation-proactive-7oct21.pdf

[robjm66] 07/10/2021 08:11

You could say that…

Q: If the Kefi team has such long running relationships with all levels of the Ethiopian stakeholders, how could you get caught out by this at the very last minute, just ahead of the Finance group meeting up to review and supposedly approve the new mine Finance package?

A: Escalated physical traffic and investigations as part of launch preparations flushed out expectations by parties other than the community itself. It needs to be dealt with now and the financiers would expect us to deal with all of its aspects ahead of launch.

Q: Having read and listened to Harry outline that early initial work is progressing to get the TKGM site ready for the mine construction. From what we can see, it looks like activities are yet to begin, when is this actually going to start?

A: As regards physical construction-style activities on the ground: we have completed refurbishment of the exploration camp for accommodating initial construction workers; the new host lands about 50 kms from Tulu Kapi at a place called Aba Sena have been substantially cleared, road cut in and initial batch of starter homes delivered; electrical connection program over 50% expended in that fabricated equipment has been received in country; surveys for civil engineering partly completed; new access road to Tulu Kapi surveyed in but not started; old existing access roads and bridges into Tulu Kapi need their annual maintenance plus some further upgrading when the wet season has ended shortly.

Q: What changes can KEFI now make to get the Tulu Kapi Project Finance back on track and the deal done within a reasonable period (current conflict permitting, 6 months)?

A: KEFI and the finance syndicate know what is required to ensure the Project is ready and it will be independently checked before we launch. There is a detailed action plan not dissimilar to analogous projects we have all been involved with.

Q: Is Saudi Arabia’s Hawiah’s Project all still on track and are you able to push this through in order to avoid this getting delayed beyond the end of December?

A: All seems to be on track for this quarter’s milestones.

Q: Assuming that the published Hawiah numbers are roughly correct, have you already lined up the £17m that Kefi will need to cover as its contribution? If not, do you have a plan in place to have this £17m ready and approved by the end of this year, in line with the PFS & MRE documents being completed?

A: The PEA published in 2020 estimated $222M for development. The latest guidance is that development is targeted for 2024-2025. Once we confirm that the Saudi Industrial development Fund or similar project financier lends 75%, KEFI would put up c. $19M equity to avoid dilution of its share. That is the choice to be made 3 years from now and finance costs optimised accordingly.

Q: Assuming that you will be able to line up the required $19m for the Hawiah mine in 2024-2025, are you clear on the next steps required to get both the mine and the finance package approved by both the Saudi authorities and ARTAR?

A: KEFI knows what is normal internationally and what has been the pattern in Saudi Arabia. The Saudi authorities have recently overhauled their regulations to become more transparent, predictable and internationally conventional. So…yes.

Q: Assuming that you are clear on the steps required to get everything approved in Hawiah, do you have a plan and are you working towards having the required meetings, etc. with the Saudi teams during January/Q1 to get everything approved and the mine build process kicked off as early in the year as possible?

A: The process in Hawiah remains to complete the PFS and lodge the Mining Licence Application in 2022, complete the Definitive Feasibility Study and financing in 2023 and start construction on the back of Tulu Kapi coming into production at that time. There is a solid team on the ground doing all this.

Q: In recent updates, it was mentioned that there are 16+ other exploration licences within Saudi Arabia that are owned by the local joint venture company. Do you now have both a work plan and provisional budget in place that will lead to all of these sites being drilled, analysed and the results compiled into MRE and PFS documents within a 1-3 year period? If so, what is the high level plan to get all of this done?

A: We indeed have many applications but few licences get awarded at any one time. Today we have one licence. Upon the award of a licence, we progress early field work fast to progress it or chop it down to its core or potentially drop it. Surviving licences then have to justify further investment or be farmed out or dropped. This is the normal exploration cycle. To outline this per licence in the public domain is not the company’s best interests.

Q: Having listened to the status of the proposed Jibal Qutman gold mine, you really should have a plan agreed with ARTAR to get this situation resolved within a set timeline and be working together towards getting this done. Do you have an agreed plan and deadline agreed to get this completed and if so what is it?

A: We have for a long time downplayed Jibal Qutman because it is stuck in a regulatory quagmire. We work to a plan agreed with our partner and are working with the authorities on it.

Q: Based on the recent dive in the share price, obviously the company doing a (discounted?) share placement based financing round would be hugely dilutive and incredibly unpopular with the existing shareholder base. Please can you confirm that the current loan as well as any associated credit facilities can be extended in terms of repayment until sometime during Q1/Q2 of next year?

A: We always have and continue to use these bridging facilities to optimise the timing/pricing of capital-raisings from the viewpoint of minimising dilution. We have lined up almost all Tulu Kapi +$350M project finance at the project level, which is because Directors are determined to minimise public shareholder dilution.

Q: What are you now going to do to get the Kefi share price back up to around the 2-3p level again asap?

A: Achieve a safe Tulu Kapi launch and the planned Hawiah milestones.

Q: Do you have adequate management depth in place to cope with the obviously challenging environment and what is looming with the Projects?

A: The executive committee members have all the requisite experience to oversee and new management are being introduced on the front line as we achieve each milestone.

Posted 07 October 2021

[whatnow1] 07/10/2021 07:58

Lots of Q&A update today on Kefi Website

[jaylett] 07/10/2021 07:11

I find the lack of any further TK update quite extraordinary. It's been over a week.

[topicel] 06/10/2021 21:18

Oh, I see.

Nothing to do with being a non-exec then? ;)

Give the guy a break, he's only had 20-plus years at the other two where he was leading the show and nothing for PIs. Whatever next! He likes to build up to success slowly...don't we know it. Lol.

Topicel

[robjm66] 06/10/2021 20:56

Well Topical it gets mentioned about three hundred times a week on different boards how bad Harry was at Emed (allegedly) so we should run for the hills as he could never be successful in the mining sphere so I thought I would add a bit of balance by pointing out how Venus (which he started like Kefi and Emed) was doing well and he is Non Exec there.

Crazy I know.

[donegal1997] 06/10/2021 18:21

Think I recall something about royalties with Kefi but not sure it's anything significant

[donegal1997] 06/10/2021 18:19

Do we get still get royalties for this or has that expired ?

[topicel] 06/10/2021 18:15

Sorry Rob, are those links relevant?

Or are you suggesting we all throw in the Kefi towel and look elsewhere for the multi-bagger we all search for? ;)

A bit like tomorrow's Proactive shindig, what is the use? How many times has Harry done these, banging the drum with presumably hand held out for someone to give him some funding? Is there any other purpose?

Maybe it is the fee, you know, like the 'C-list' celebs get for moving from panel show to game show to quiz show and around again? Maybe there is some link to Ariana that eludes me?

Topicel

[robjm66] 06/10/2021 17:22

hxxps://www.venusminerals.co/about/directors

[tom barnaby] 06/10/2021 13:51

I dont even know which avatar you are 'talking' about tbh.

[tom barnaby] 06/10/2021 13:37

What is the underlying message in 16383?

That because an avatar is not a holder they should have no interest in a particular stock, that the avatar wants shares 'cheeper' or something different entirely?

[shortarm] 06/10/2021 13:34

I think maybe he (and his buddy Tom) think it's fun to lord it over people they think are losing money?Or maybe they have no money and are a little jealous?Either way I doubt they'd be so mouthy in the pub (well, not twice anyway).

[pennstreet] 06/10/2021 13:16

For someone who has supposedly sold up you're showing a lot of interest in KEFI?