Last week we noted on Kefi Gold & Copper (KEFI) that it was seeking Tulu Kapi project further progress in the week including the finalising of capital controls details with the Ethiopian central bank and addressing the few remaining loose-ends of Ethiopian Ministry of Mines-facing agreements. It now is pleased to report a number of important outcomes from its meetings.
Having noted earlier in the week that a further update on the company's activities in Saudi Arabia is expected to be announced shortly, Kefi Gold & Copper (KEFI) has now issued this – and including that Jibal Qutman project trenching, diamond drilling and metallurgical testwork are ongoing and Hawiah project infill and expansion drilling campaigns are ongoing. That would be further potential news flow catalysts then.
‘arry Adams has dropped me an email abut the progress made last week. He says:
Kefi Gold & Copper (KEFI) has noted the Ethiopian Government's declaration of a state of emergency in the Amhara region of the country but that this is only applicable to a current conflict area in that region, specifically Gondar, approximately 700 kilometres from the company's Tulu Kapi project and that it “remains on track for project launch”.
Another after hours placing from Kefi Gold & Copper no doubt has many of you crossing Harry Adams off your Christmas card list. But I try to justify it, discuss what the fundamental value is, the upside and downside risks and conclude that with the shares at 0.84p and the Primary Bid offer at 0.7p you should take it up not to try and flip but to double or treble your money or more. If you are not a Primary Bid member and want to take the offer up, sign up HERE and this website will get a small payment to put towards the goat fund. I also mention Amaroq (AMRQ) in this podcast.
This is a very pleasant surprise. Kefi Gold & Copper (KEFI) has announced the signing of the Final Umbrella Agreement for the project financing of the Tulu Kapi gold project in Ethiopia and that it is preparing for full construction start to coincide with the next dry season at Tulu Kapi, which is expected to start in October. What very good news!
Kefi Gold & Copper (KEFI) has announced a maiden Mineral Resource Estimate for the Al Godeyer project of its planned to be up to 30% owned Saudi Arabia joint venture ahead of further drilling planned to commence this quarter.
Kefi Gold & Copper (KEFI) has issued a quarterly operational update, including on the Tulu Kapi gold project in Ethiopia that regarding the government it “expects to resolve all outstanding issues in the coming weeks” and on its projects in Saudi Arabia that it continues to progress activity.
Kefi Gold & Copper (KEFI) has issued a fourth quarter 2022 operational update, including re-emphasising on Tulu Kapi gold project financing that it “expects all outstanding issues to be addressed imminently”.
Kefi Gold & Copper (KEFI) has issued a Tulu Kapi gold project financing update including that it is “pleased to report that all lead contracting and equity investment parties have agreed their draft agreements… The company expects all outstanding issues to be addressed imminently, the exact timing of which will largely be driven by the Government process”. Is this "funding secured"?
The Ethiopian Minister of Mines, Takele Uma, was apparently sacked yesterday at a cabinet meeting. Rumours in Addis suggest that he stands accused of industrial scale corruption. Well knock me down with a feather.
Another day, another announcement from Kefi Gold & Copper (KEFI) – with this time boss Harry Adams “delighted” with the award of five further exploration licences in Saudi Arabia to the company’s 30%-owned joint venture. Is he sugaring the pill ahead of bad news in Ethiopia?
I get up off my sick bed to find numerous emails from my fellow shareholders in Kefi Gold & Copper (KEFI). I am told that the shares are “collapsing”. Hmmmm so a 1% fall is a collapse: whatever you say.
These days he goes by the name Lord Ashbourne but I shall always know Edison's mining analyst as the convicted felon Charlie Gibson. Anyhow yesterday he was not thrashing some peasant for being a dirty oik or driving while sloshed but instead penning a note on Kefi Gold & Copper (KEFI). Of course Kefi pays for this research but that makes its steer on a placing all the more relevant. No it is NOT doing one right now as I keep being told by folks who will not accept a slam dunk denial from 'arry Adams.
Kefi Gold & Copper (KEFI) states that it “is pleased to announce that the updated US$320 million Tulu Kapi gold project costings and finance plan has now been agreed by all the Tulu Kapi syndicate lead contractors, investors and lenders. It is currently being processed for final reviews and entry into definitive documentation to be signed as soon as possible, with the expectation to achieve this next month”. Is this though what was expected at this point?
In October Kefi Gold & Copper (KEFI) announced, in another delay, that it would get financial sign off for its Tulu Kapi scheme in “mid November”. Today, on the 14th, some of my fellow shareholders are cacking their pants. Why? Just how dim are you?
