(Alliance News) - Kefi Gold & Copper PLC on Monday said that four workers abducted whilst inspecting traffic routes for its Tulu Kapi project in Ethiopia have been released unharmed and without any conditions.
The abduction of the workers could only be reported by Kefi following their safe release on Saturday. Two weeks ago an Ethiopian newspaper claimed that security issues were affecting the scheduled launch of the Tulu Kapi gold project on October 31. Kefi was forced to confirm a security incident occurred in the West Wolega zone and that the Ministry of Mines was involved.
Shares in the gold explorer were up 17% to 1.22 pence each in London on Monday morning.
"With this localised security issue now resolved and having been subsequently fully disclosed when it has become safe to do so, the company looks forward to working with the Ministry of Mines to ensure that it is satisfied in all respects," Kefi said in a statement on Monday.
Kefi noted it remained eager to proceed with the gold project as soon as possible.
By Will Paige; willpaige@alliancenews.com
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Kefi Gold (KEFI)