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KEFI Gold & Copper PLC - gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Says joint-venture Tulu Kapi Gold project is in talks with Ethiopian Ministry of Mines to minimize further delays to project launch. Meetings are scheduled for next week, with a "high level" meeting on Monday. JV has been delayed due to outbreak of civil war in Ethiopia, but KEFI says the war abated at the end of 2021, and the state of emergency is being lifted. The project finance syndicate remains in place to launch when conditions normalise.
"We are proud to be continuing to work tirelessly on the ground in Ethiopia, alongside the Tulu Kapi community and the Ethiopian government to progress the Project. This work has continued throughout the recent challenges, which are now rapidly abating, and we anticipate making further progress in the coming weeks," commented Executive Chair Harry Angnostaras-Adams.
The company is postponing Monday's investor webinar, as management will be in official meetings.
Current stock price: 0.73 pence, up 1.8% on Friday
12-month change: down 64%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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