Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
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Just goes to show the thirst for gold in Ethiopia, they want this to happen and they want it now. I'll have a piece of that pie please ;-)
If suppliers are bringing 3 kilograms to 30 kilograms of gold to NBE for sale, they will get 67 percent price increases.
And those supplying more than 30 kilograms, they will get 72 percent price increases.
Last Ethiopian fiscal year, the bank was buying gold by paying about 35 percent more than the price at the world market if they were supplying between 50 grams and 150 grams of gold. If the supply amount is more that one kilogram, the bank was paying 52 percent more rate compared to the price at the world market.
Within a week after introducing major policy changes, the National Bank of Ethiopia announced changes to gold pricing.
Those suppliers who supply the bank from 50 grams to 3 kilograms of gold will see 60 percent price increases. It means that NBE will pay 60 percent more money to the existing prices.
Sourse*
Interesting link from a new (to me!) course.
And all quite positive comment - a long haul ahead though!
😐
See Edison share valuation!
2.21p to 5.58p....bottom of 2nd paragraph.
https://www.edisongroup.com/equity/kefi-gold-and-copper/
Ok you have a cake but you are not allowed to eat it…
Joking apart the share has reduced by a percentage but the overall level of resources and prospects has increased by a much larger amount than the percentage lost.
Started off with JQ licence area lost it got it back with an much increased area. Nearly three times the size and gold price around twice what it was around the time of the JQ PFS in 2014. Its obvious as well more discoveries will be made there in in fact already made one with Asfingia. So say in JQ have a prospect that is worth at least six times what is was originally worth.
https://www.kefi-goldandcopper.com/files/announcements/kefi-renewal-of-jibal-qutman_-exploration-licence-17oct22.pdf
Did not have Hawiah at all originally so that is all gravy and looking at “A doubling of the resource with material of similar characteristics as the maiden resource would indicate an estimated net cash surplus of over US$500 million before financing costs and tax” then you have the discoveries at Al Godeyer and Abu Salal and a healthy copper price would not be surprised if the areas there go the same way as the JQ areas and end up six times what they are worth soon but lets say they are worth four times what they were worth from the start.
Also the lesser percentage and the SIDF loan means minimal start up costs of the projects once they get go ahead from when Kef started in Saudi.
Lots of moans about the value lost in Saudi but I guess its intellectually easier than actually looking at the value added.
1. You see the pie, because it's so crispy and full of juicy fruit and take the shirt off your back to buy it. Being blinded by the fact that you are so greedy you haven't considered the need of (or indeed the additional cost of) custard, ice-cream and spoons and a couple of bowls, you then feel rather sick...
I read this quote from Kemi Badenoch today-
This is a 10 or 20-year project. We’ve just started. It’s like building a house and someone comes in and says oh, it’s not done yet, he’s failed. Or you’re cooking something and, five minutes later, it’s not cooked yet, it’s not working, let’s stop.
Remind you of anyone posting on this Bulletin Board?
3 but you can't exercise it without exercising 1 and 2.
Maths question you have three pies..
1. Pie one has a 10 inch radius and you can have 40 percent of that.
2.The second Pie is three times the size and but you can only have 24.75 percent of the pie.
3.The third pie will be twice the size of second but you will have to sell 20 percent of it and have 24.75 of the remaining pie.
Which option gets you the most pie?
Couldn't agree with you more 1plus1 (What were you thinking would happen when investing in a highly speculative exploration and development company operating in a frontier market). Have said the same thing multiple times over the years. No wonder they loose their money then bleat constant tripe. Good luck to all those who have averaged down (or recently bought in) and are quietly waiting for a decent return!
@maskedsinger, you do realise we are getting something in exchange for owning less of the pie, right? Your comment reads like kefi's overall KSA interests are dwindling to nothing, which of course is not the case. Yes kefi's ownership interest is falling in KSA but on the flip side the asset is growing significantly courtesy of exploration and infill drilling being funded by Artar. The continuous complaints on this board are very strange - people don't like it when kefi raises capital, they don't like it when kefi does not raise and instead dilutes, they don't like it kefi does not make instant progress. What were you thinking would happen when investing in a highly speculative exploration and development company operating in a frontier market?! Bizarrely I note that there is a dearth of positive comments about the exact opposite happening at the TK deposit, where HA et al appear to have engineered a very positive outcome to secure around 80% ownership interest, which is right at the top of the range previously guided. Funny how blinkered so many posters are on this forum who have presumably lost money over the years and have nothing better to do than spew negativity and venom at a time when things are looking increasingly positive.
There are too many smoke and mirrors with this. The MM's have taken this into account and it is what it is.
There are more sellers than buyers for that reason.
Well, we sell the licences to ARTAR to pay off our debt, or we raise funds to keep our slice of the pie.
Cannot see any other options. If SA is going to be the"land of milk and honey" then I can see Kefi having a major placing to keep the percentage. I think I heard Harry say that we DO NOT have the opportunity to buy back our lost percentages.
With all those licences Kefi have in SA and the ever dwindling percentage slipping, even fair value will mean we will lose out big time in SA.
The longer this goes on, potentially our percentage drifts lower.
Food for thought.
And they promised updates on this so some further news ought be with us us next week I guess
Just IMHO.
If the second bank doesn't get on board we have more than enough other options. Harry doesn't want to use a streaming option but it is a possible back stop if needed. A private office is another and there are plenty of these some of whom may have even paid a visit to Etiopia recently.
There is the option to sell a stake to another miner.
Most of the funding is in place the EG is on board and works have begun and yet we cannot shake off the doom.
The bears have this for now. I cannot help feeling more optimistic though.
Given the RNS on May 20th, announcing the launch and the kick-off of the 60 day early works, is it assumable that we're half-way through those Early Works?
HtTps://agsiw.org/saudi-arabias-and-the-uaes-quest-for-african-critical-minerals/ (Saudi/African mining)
On May 27, Abu Dhabi’s International Holding Company, a government-backed investment entity, announced it is in negotiations with the Zambian government to acquire Konkola Copper Mines. The move is part of an intensive effort by the United Arab Emirates as well as Saudi Arabia to increase investment in critical minerals as the Gulf oil producing countries strive to diversify their economies away from fossil fuels.
Over the past year, Saudi Arabia has been actively pursuing critical mineral deals in Africa, though it has not yet closed on any. In June 2023, the Public Investment Fund expressed interest in investing in the Democratic Republic of Congo’s critical minerals through Maaden, a state-owned Saudi mining company. Additionally, at the Future Minerals Forum in Riyadh in January, Saudi Arabia signed memorandums of understanding for mining investments with the Democratic Republic of Congo, Egypt, and Morocco. Following the forum, the kingdom established Manara Minerals, a joint venture between the PIF and Maaden, to invest in mineral resources worldwide. Manara Minerals was listed as a potential bidder for up to a 30% stake in Zambia’s copper mines owned by First Quantum Minerals, a Canada-based mining company.
htTps://www.juniorminingnetwork.com/junior-miner-news/press-releases/2840-tsx-venture/peak/162847-sun-peak-metals-completes-initial-2024-drill-program-at-the-shire-project.html (Ethiopia mining)
htTps://www.zerohedge.com/news/2024-06-20/central-banks-how-invest-gold-long-term (Gold)
We are one month into early works, just one more to go. For me its maybe coincidence that the 2 month mark coincides with the AGM in Ethiopia. Might we be signing end of July as that would tie into August break and September to close so ready for October. Could be now into the last month before real news that will re-rate Kefi proper. Hold onto your hats!
Well said!!!!
Now s** off, Smelly
Https://www.kefi-goldandcopper.com/files/presentations/kefi-121-confernce-presentation-june24.pdf
Page 11 for the Timetable for TK sign off.
Started or are we still awaiting the commencement. I cannot see this 2nd Bank signing. Someone else will come to the rescue in the end.
The saga continues with the sp falling. More of the same old to come.
You should read the annual report. Dropping below 25% does not necessarily give them the legal right. IAS 18...regs Vs contract.