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Kefi Gold & Copper PLC - gold and copper exploration and development company focused on Ethiopia and Saudi Arabia - Renews its exploration licence at its Hawiah Copper-Gold project in Saudi Arabia for five years. Company on track to complete new mineral resource estimates and a preliminary feasibility study at Hawiah in the final quarter of 2022. At Jibal Qutman, also in Saudi Arabia, the company continues discussion with the Ministry of Industry & Mineral Resources regarding the outcomes of its licence applications. Begins independent audit of mineral resource estimate, detailed mine planning and more to allow the project to be advanced more rapidly.
Chair Harry Anagnostaras-Adams says: ‘In Saudi Arabia, we now have two development projects in progress after being held up for many years awaiting a regulatory overhaul. We are looking to develop our Jibal Qutman Gold Project and then to follow with the start-up of the Hawiah Copper-Gold Project. Both projects are growing, but already in the feasibility study stage and, combined, the KEFI interest therein is already projected to exceed that of the company's Tulu Kapi Gold Project in Ethiopia in terms of [net present value] and cash flow generation.’
Current stock price: 0.68 pence, up 0.2 on Thursday afternoon in London
12-month change: down 64%
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