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Kefi Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Notes Ethiopian newspaper reporting on Saturday last week that the Ministry of Mines had rejected any claim that security was affecting the scheduled launch of the Tulu Kapi gold project for October 31.
Kefi confirmed a security incident occurring in the West Wolega zone, and the Ministry writing to the operators questioning whether security would be an issue that would affect the project. The company claims that the media report failed to more than Tulu Kapi had responded to the Ministry, updating it on the security situation and that it is continuing to comply with its obligations.
"The company wholeheartedly agrees with the Ministry of Mines' determination to start the project as soon as physically possible. Based on our enquiries, we believe that not all facts were understood within the Ministry at the time of the media interview and we are confident of fair and reasonable decision-making when all facts are compiled and reported with due process. In summary, we remain confident of TKGM's licence tenure in light of any licencee's obligation to deal with any security situation in accordance with the mining licence requirements and normal industry practice," says Executive Chair Harry Anagnostaras-Adams.
Current stock price: 1.03 pence
Year-to-date change: down 46%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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