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Pin to quick picksKefi Gold Share News (KEFI)

Share Price Information for Kefi Gold (KEFI)

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Share Price: 0.57
Bid: 0.566
Ask: 0.57
Change: -0.002 (-0.35%)
Spread: 0.004 (0.707%)
Open: 0.596
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Prev. Close: 0.572
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IN BRIEF: KEFI Gold & Copper Reports Progress At Hawiah Project

Tue, 08th Dec 2020 19:36

KEFI Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Reports further success with ongoing 13,00 metres drilling programme at 34%-owned Hawiah project in Saudi Arabia. First six drill holes reflecting 3,600 metres have yielded encouraging results.

Current programme's aim is to increase the maiden mineral resource estimate of 19.3 million tonnes at 0.9% copper, 0.8% zinc, 0.6 grams per tonne gold and 10.3g/t silver.

Second rig is now on site to accelerate the drill programme.

Current stock price: 1.80 pence

Year-to-date change: up 50%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold exploration and development company - Receives formal confirmation from the National Bank of Ethiopia of details for the operation of offshore banking by its operating subsidiary Tulu Kapi Gold Mines Share Co and its project finance banks. Says this clarifies the operational details for the implementation of the policies set out in the recently published National Bank of Ethiopia Directives, waiving mining projects from foreign exchange control and capital controls. As a result, Tulu Kapi is now fully-permitted, with only procedural administrative confirmations remaining. Consequently, the project finance banks can proceed to final credit approval for the project's USD190 million secured debt package. Upon approval, the project's debt terms will have been resolved, as will the structure of the overall USD390 million finance plan. Notes this is a "pivotal" formal step for project launch. Expects full project launch to begin in the current quarter.

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