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Share Price: 0.65

Bid: 0.64

Ask: 0.668

Change: -0.046 (-6.61%)

Spread: 0.028 (4.375%)

Open: 0.674

High: 0.674

Low: 0.636

Prev. Close: 0.696

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IN BRIEF: KEFI to meet with Ethiopian officials over JV delays

Fri, 04th Feb 2022 10:10

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

More News

30 Jan 2024 14:18

Kefi Gold & Copper says Jibal gold project making "excellent progress"

(Alliance News) - Kefi Gold & Copper on Tuesday said that its Saudi gold development project was "starting to shape up its plans for production", after recent drill works revealed a high-grade deposit.

24 Jan 2024 14:15

IN BRIEF: Kefi says Tuly Kapi project progressing towards launch

Kefi Gold & Copper PLC - Cyprus-based gold exploration company, focused on assets in Ethiopia and Saudi Arabia - Says its Tulu Kapi gold project financing agreements are in "near-final form". This comes after Kefi Gold reported earlier this month that its lead lender had approved a conditional final credit committee. The company said that the USD320 million financial packages will go towards its "shovel-ready" Tulu Kapi project in western Ethiopia. The project has already received approval from "key syndicate members", the company said, and Kefi believes that reported actions by the Ethiopian Government indicate its assent. Adds that its 25% owned Jibal Qutman gold and Hawiah copper-gold development projects are undergoing feasibility studies. Kefi also says it is targeting the launch of the projects.

10 Jan 2024 12:09

Kefi Gold receives lender approval for Tulu Kapi gold credit committee

(Alliance News) - Kefi Gold & Copper PLC on Wednesday said that it had made "significant" financing progress in relation to its Ethiopian high-grade gold project.

31 Oct 2023 16:37

EARNINGS AND TRADING: Kromek wins deals; First Class Metals optimistic

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

5 Oct 2023 12:33

IN BRIEF: Kefi Gold & Copper shares rise as regulatory issues resolved

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.

29 Sep 2023 14:29

EARNINGS: Beacon Energy and Kefi Gold & Copper losses widen

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12 Sep 2023 10:44

AIM WINNERS & LOSERS: Ocean Harvest falls as loss widens

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12 Sep 2023 10:14

Kefi Gold & Copper notes Ethiopia directive on Talu Kapi gold project

(Alliance News) - Kefi Gold & Copper PLC on Tuesday said the National Bank of Ethiopia have published a new directive which satisfies the request made to ensure conformity with the specific detail of its Tulu Kapi gold project in western Ethiopia.

6 Sep 2023 15:40

TRADING UPDATES: URA orders Gravelotte parts; Kefi sustains progress

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

6 Sep 2023 14:00

Kefi Gold makes progress across Saudi Arabia projects

(Sharecast News) - Kefi Gold and Copper updated the market on its recent activities in Saudi Arabia on Wednesday, including details on its minority-owned Gold & Minerals (GMCO), as well as various exploration sites at Jibal Qutman, Hawiah, Al Godeyer, and Abu Salal.

5 Sep 2023 17:35

TRADING UPDATES: Literacy Capital nets profit on Butternut Box sale

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

9 Aug 2023 12:20

Kefi Gold & Copper hopes to launch Tulu Kapi project on schedule

(Alliance News) - Kefi Gold & Copper PLC on Wednesday said it expects to be able to go ahead with the launch of its Tulu Kapi project despite violence in Ethiopia.

7 Aug 2023 11:56

IN BRIEF: Kefi Gold & Copper notes state of emergency in Amhara

Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Notes Ethiopian government's state of emergency in the Amhara region. Says Tulu Kapi gold project is approximately 700 kilometres away from the conflict area, but has had red zone protocols implemented for "some time" despite the project area being considered low risk. Adds it remains on track for the launch of the Tulu Kapi project, with procurement and construction commencement set to start in the final quarter of 2023.

30 Jun 2023 17:28

TRADING UPDATES: Kefi confident; Aseana Properties sells assets

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28 Jun 2023 18:37

TRADING UPDATES: Lansdowne Oil & Gas seeks talks over Barryroe dispute

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IN BRIEF: KEFI to meet with Ethiopian officials over JV delays

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