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Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Plans to start full construction at the Tulu Kapi gold project in Ethiopia during the dry season in October this year. It says mining progress over the past month has remained on track. KEFI says it has maintained the full funding syndicate for the project. It plans to sign the funding ‘Umbrella Agreement’ during June to demonstrate the full funding commitment, especially to the Ethiopian Ministry of Mines.
Chief Executive Harry Anagnostaras-Adams says: ‘KEFI has significant momentum as we progress our three advanced projects in two countries that are now overtly pro-development. These three projects provide the opportunity for the company to establish itself as a production leader in the Arabian Nubian Shield, having already established itself as an exploration leader with a now-established Mineral Resources of about 4.7 million ounces gold-equivalent in Ethiopia and Saudi Arabia.’
Current stock price: down 1% at 0.69 pence each on Wednesday in London
12-month change: down 64%
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