robjm66
07 Feb 2018
Re: RNS [link]
robjm66
05 Feb 2018
Re: RNS KEFI Minerals (AIM: KEFI), the gold and copper exploration and development company with projects in the Kingdom of Saudi Arabia and the Democratic Republic of Ethiopia, announces that it has recently assembled and submitted applications for over 1000km2 of strategically selected copper and gold tenements near the Company's Tulu Kapi development project in Ethiopia (via its wholly-owned subsidiary KEFI Minerals Ethiopia) and also a similar-sized area near the Company's Hawiah exploration project in Saudi Arabia (via the Company's 40%-owned Joint Venture with ARTAR).Presentation at Indaba KEFI has been invited to present at the Investing in African Mining Indaba Conference base metals session, being held in Cape Town this week, as well as giving its corporate presentation. The presentation being given at the conference has been uploaded to the Company's website at [link] alongside the Company's corporate presentation.
robjm66
02 Feb 2018
Re: RNS [link]
robjm66
01 Feb 2018
Re: RNS [link]
robjm66
01 Feb 2018
Re: RNS Three people have been appointed to the Company's senior management team ("Excom"
which currently comprises Harry Anagnostaras-Adams (Executive Chairman) and John Leach (Finance Director). The three new appointments are the members of International Mining Performance: David Munro to serve as Head of Operations, Eddy Solbrandt as Head of Systems and Brian Hosking as Head of Human Resources and Technical Planning as from March 2018. Wayne Nicoletto remains as Managing Director, Ethiopia and Jeff Rayner as Adviser-Exploration Strategy.The Options have an exercise price of 4.5p per Ordinary Share, representing a c. 23% premium to the VWAP for the week commencing 22 January 2018. The Options expire after 6 years and, in normal circumstances, vest in two equal instalments, the first upon the achievement of practical completion of the planned processing plant at the Tulu Kapi Gold Project and the second upon the achievement of nameplate capacity for a twelve-month period.jaylett1 Feb '18 - 07:33 - 53864 of 53868 0 1 1They clearly intend on building a mine then, or this is the greatest wind up in history.I would've liked to see a slightly more ambitious strike price than 4.5p if I'm being honest, but I suppose that's the way of the (AIM) world these days. None of them are going to be in it for a small increase so this doesn't add to any overhang, but it certainly doesn't align their average price with most of ours. Still, another small step taken on the road to production.Estseon0 3 0I agree with the comments. The recruitment of these new bods is a sign of confidence. It's also good to see confirmation that Jeff Rayner is still around.The new options don't start vesting until the mine development is completed and the balance of the new options do not vest until it has been producing at the 140kozs level for 12 months.
robjm66
24 Jan 2018
Re: RNS [link]
robjm66
20 Jan 2018
Re: RNS estseon19 Jan '18 - 23:11 - 53791 of 53791 0 2 0[link] funding principals and sums raised have not changed". Kefi is still going to raise the $140m subject, as before, to the bond market buying the issue.
robjm66
19 Jan 2018
Re: RNS jaylett19 Jan '18 - 16:45 - 53788 of 53788 (kefi mention) [link]
robjm66
18 Jan 2018
Re: RNS jaylett18 Jan '18 - 12:54 - 53755 of 53758 0 2 0KEFI Minerals scheduled to start work at Tulu Kapi this year"During the next two years Tulu Kapi is to be built as a 140,000 oz pa gold producer"KEFI Minerals PLC (LON:KEFI) expects to start construction of its Tulu Kapi gold mine in Ethiopia in the second quarter of 2018.A consortium compromising mining contractor Ausdrill, engineer Lycopodium, and the Ethiopian government is responsible for the infrastructure and building work.Innovative financingLycopodium will build the on-mine infrastructure (including the plant) under a hybrid EPC/EPCM contract, said brokerADVERTISEMENT RFC Ambrian.This is planned to be funded through the issue of US$140mln, 9-year debentures with a gold price-related interest rate, which the broker anticipates will be 10% at a gold price of US$1,250/oz (rising to 15% at US$1,700/oz).Some US$12mln of pre-production mining costs are planned to be deferred for a year and up to US$20mln of off-site infrastructure is set to be funded by the Ethiopian government.That will leave US$42mln to be funded from other sources including an equity raise and working capital loan.Production will amount to 980,000oz over a 7.5-year mine life at average sustaining costs of US$773/oz over its life.Reserves stand at 1.05Moz, grading 2.1 g/t, with operations to be a conventional open pit and CIL-based project.Expansion potentialA scoping study on a potential underground resource at Tulu Kapi suggests the production rate can rise to 150,000oz pa from Year 4,In addition, KEFI has identified more satellite targets within trucking distance of the mine site.January update"The final Tulu Kapi project models were agreed within the consortium and uploaded into the formal financing data rooms,” said Harry Anagnostaras-Adams, executive chairman, in January 2018.“They show some improvements for shareholders, as compared with recent company guidance," he added.“During the next two years Tulu Kapi is to be built as a 140,000 oz pa gold producer and, at the current gold price of $1,300/oz combined with any of the contemplated financing scenarios, KEFI shareholders' beneficial interest in the net free cash flow per annum (after debt service and tax) exceeds the company's current market capitalisation.”“A project-level transaction on the same terms as with the Government would imply a project valuation of c.US$100 million (100%) and, under that financing scenario, KEFI shareholders would expect to retain a beneficial ownership interest in the order of 55% in the project.”Jibal Qutman still developingIn Saudi, KEFI has a 40%-stake in the Jibal Qutman project, where new country-wide mining laws are being introduced in a bid to encourage the development of the sector into an important part of the economy.Kefi said it is waiting for final clarification of the country's new policy.Value undemanding says brokerThe broker remains a buyer but has lowered its target price to 6.8p due to recent weakness in the shares.RFC Ambrian assumes the company will raise US$25m in equity at a price of 3p and secure a US$17m working capital facility.Shares rose 10% to 3.55p valuing the miner at £10.7mln.
robjm66
18 Jan 2018
Re: RNS [link] & Minerals ("G&M" Ltd, an incorporated joint venture with 60%-partner ARTAR, Saudi Arabia New minerals policies announced by the Saudi Government: to facilitate growth and making it the third pillar of the Saudi economy.•Portfolio of Licence Applications: G&M has upgraded its portfolio and now has pegged much of a major structural VHMS belt - a structural corridor containing several systems of volcanic hosted massive sulphides. A separate RNS will be issued when the new regulatory details are clarified along with G&M's particular tenements.[link] separate RNS will be issued when the new regulatory details are clarified along with G&M's particular tenements.
robjm66
18 Jan 2018
Re: RNS [link] approvals being implemented as required
The Mining Licence transfer to TKGM has been cleared and execution in process as has regulatory approval of most historical investment by KME, in that 95% of the spending to 31 December 2014 has been formally approved and the balance, along with the spending since 1 January 2015, is now being dealt with.o The community compensation surveys, calculations and negotiations have been completed.o The Ethiopian Electricity Power Corporation and Ethiopian Roads Authority have confirmed their budget and schedule commitment to construct the project's off-site infrastructure.o National Bank of Ethiopia (central bank) has approved most administrative requests and is engaging on the remaining issuesim0raider 18 Jan '18 - 095 - 53705 of 53750 0 3 0Just spoken with H, the first RNS was regulatory and had to be released in it's format.He went on to say there is no change to the funding plan and sources of cash, the Oryx agreement is 'simplifying' the structure and agreagreed mutually.Other than the removal of Oryx, everything remains the same.This is the key statement:"-- Planned funding remains unchanged but the structure has been streamlined. Oryx and KEFI mutually agreed to terminate their relationship. The structure for the development of the Company's Tulu Kapi project will otherwise remain the same, with the other existing consortium members still performing all the various required roles as previously outlined."remain so???aim0raider 18 Jan '18 - 09:14 - 53713 of 53750 0 2 0Andy - He referred to them as 'middle men' and i understand they are a spin off of the main contractor. Oryx were going to operate an SPV in respect of placing/managing the bonds.My understanding is that this middle link has been removed.Is was a short phone call, probably cost me £0000s!During the next two years Tulu Kapi is to be built as a 140,000 oz pa gold producer and, at the current gold price of $1,300/oz combined with any of the contemplated financing scenarios, It remains the case that additional project-level equity investment may minimise the dilution of KEFI shareholders' beneficial interests. A project-level transaction on the same terms as with the Government would imply a project valuation of c. US$100 million (100%) and, under that financing scenario, KEFI shTulu Kapi Project Financing: • Drawdown: target timing to be synchronised with community resettlement and the triggering of procurement and construction in Q2-18. Remains subject to completion of due diligence, regulatory approvals and execution of binding documentation.areholders would expect to retain a beneficial ownership interest in the order of 55% in the Projectestseon 18 Jan '18 - 104 - 53732 of 53750 0 3 0The original structure involved funding bonds and a finance lease. So the money was to flow from the bond subscribers to the SPV to Oryx who would then use the money to pay for all of the on-site infrastructure (the processing plant, the dams, the on-site roads and housing etc etc). Oryx would own all of that stuff and would lease it to the project company.The streamlining might be the elimination of the finance lease but I am just guessing. It is possible that they got into a bit of a twist trying to sort out the land interests for that structure. The land is owned by the State. The project company will have a licence - granting is in progress. The project company would then have to grant Oryx a sub-licence so that they can commission the development works and have an interest in the land from which they could grant the finance lease and Oryx would then grant back a sub-sub licence of the developed site, the finance lease, to the project company.daftbat 18
robjm66
18 Jan 2018
Tea leaves [link] so boiling it down gold price up resettlement gradually getting there as is government red tape final finance arrangements still up in the air, company communication consists of shareholders phoning harry up to explain the latest explanation. Probably the most significant long term news for Kefi the KSA The Saudi Arabian Government's new pro-mining policy considering the companies portfolio there probably news of which could explain the recent rise in the share price.Tea cold will have to get crystal ball out.
Freddie The Fence
18 Jan 2018
RNS Relationship with Oryx management terminated.Another setback in arranging financing, or is a better arrangement on the cards?
Speculate2accumulate
17 Jan 2018
Re: Happy Christmas all Hi Norris107"unsupported protocol" is a browser security problemif you are using a tablet then download Opera and use itif you are using laptop or PC then use Google ChromeTim
Rhodium45
16 Jan 2018
UK Investor Show 2018 Looks like they are going to be at the investor show in April:[link]
