|
Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Says field activities at the Tulu Kapi gold project in Ethiopia have continued to build ahead of full project launch. Company says it is ‘keen’ to re-commence its exploration of additional prospects at the project but is awaiting regulatory permission. As a result, Kefi switches focus to Saudi Arabia with its Jibal Qutman and Hwaiah projects.
At the Hawiah Copper-Gold Project, Kefi says work continues, with focus on providing inputs for the preliminary feasibility study which is scheduled for completion in the second half 2022.
At Jibal Qutman, Kefi says its local partner is in discussions with the Saudi Arabian Ministry for Industry & Mineral Resources for the mining licence. Adds that the initial Jibal Qutman development project is now seen at a 500,000 ounce production plan for extraction over 10 years.
Current stock price: 0.64 pence, up 1.9% in London on Wednesday
12-month change: down 65%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
