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Share Price Information for Kefi Gold (KEFI)
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Share Price:
2.34
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Spread: 0.04 (1.81%)Open: 2.36High: 2.36Low: 2.17Yest. Close: 2.25
KEFI Live PriceLast checked at 07:37:46
Conditional Consortium Completion for Tulu Kapi
Thu, 22nd Oct 2020 07:00
RNS Number : 8451C
Kefi Gold and Copper PLC
22 October 2020
22 October 2020
KEFI Gold and Copper plc
("KEFI" or the "Company")
Conditional Completion of Consortium to fund the Tulu Kapi Gold Project
KEFI expected to increase Project ownership from 45% to c.65%
KEFI Gold and Copper plc (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce that it has now assembled the full consortium and set the conditional terms for the independently reviewed development funding package of c.US$221 million for the Company's flagship Tulu Kapi Gold Project (the "Project" or "Tulu Kapi").
Highlights
·
Non-binding term sheets signed to complete the US$221 million consortium for Project development funding
·
Experienced African investors conditionally agree to contribute a minimum of US$40 million to the Project
·
KEFI beneficial Project ownership expected to increase to c.65% from previously envisaged 45%, increasing NPV attributable to KEFI by c.33%
·
First production remains on track for Q4 2022, targeting to lift average gold production from original 140,000oz p.a. to 190,000oz p.a. within 3 years of start-up
·
In-house estimates indicate an anticipated Project NPV for KEFI of 11p/share (assuming 65% interest and US$1,700/oz gold price). This excludes any other KEFI assets, notably the Hawiah copper-gold-zinc-silver and Jibal Qutman gold deposits discovered in Saudi Arabia.
Don't tell me this isnt a great RNS, money in the bank very shortly, only the impatient would shout about it. Term sheet signed - great news for all KEFI holders
He's on course, late as usual but on course.
Financiers have signed non-binding term sheets and now to complete detailed dd.
11p per share wow .not every day get a 450 per cent increase
Non-binding term sheets signed to complete the US$221 million consortium for Project development funding
·
Experienced African investors conditionally agree to contribute a minimum of US$40 million to the Project
·
KEFI beneficial Project ownership expected to increase to c.65% from previously envisaged 45%, increasing NPV attributable to KEFI by c.33%
·
First production remains on track for Q4 2022, targeting to lift average gold production from original 140,000oz p.a. to 190,000oz p.a. within 3 years of start-up
·
In-house estimates indicate an anticipated Project NPV for KEFI of 11p/share (assuming 65% interest and US$1,700/oz gold price). This excludes any other KEFI assets, notably the Hawiah copper-gold-zinc-silver and Jibal Qutman gold deposits discovered in Saudi Arabia.
How is this different from the ANS debacle - no actual cash just further promises for the future conditional for various reviews and sign offs - can kicked down the road AGAIN as predicted - expect fund raise Very soon
Full package secured and ownership to increase to 65%
Great news
Does anyone think ben dare show his face today or ever lol
Chooooooooo
Harry time :)
Let's go
Is it boom time
ATB