KEFI Gold expects big news quarter as Tulu Kapi nears start line

Mon Sep 04 2023

KEFI Gold and Copper PLC said it expects newsflow to be strong between now and the end of the year ahead of the start of construction of its Tulu Kapi mine in Ethiopia.

Final credit and board approvals for the project financing are in progress this week, it said, ahead of the launch in the final quarter of 2023 and first production by end 2025.

Talks this week include discussions with the National Bank of Ethiopia over foreign exchange controls, one of the final points of the financing, said KEFI.

Over the past month, details of the US$390 million development funding have also been further refined within the finance syndicate, said the statement.

A further update on the company's activities in Saudi Arabia is expected to be announced shortly, KEFI added.

Source: https://www.proactiveinvestors.co.uk/