Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Says that all outstanding financing conditions requiring Ethiopian government input regarding the Tulu Kapi gold project have now been met. Says this enables Tulu Kapi individual syndicate members to proceed to final committee and board reviews and approvals for the USD390 million project finance package.
Chair Harry Anagnostaras-Adams says: "Today's announced progress with the Ethiopian central bank is the third significant breakthrough in as many months. This set of supportive government initiatives clears the way for the launch of Tulu Kapi and reinforces the recent turnaround of the working environment in Ethiopia. Kefi has assembled a first-class international project finance syndicate which is now focused on final definitive documentation for this USD390 million transaction."
Current stock price: 0.62 pence, up 1.7% in London on Monday afternoon
12-month change: down 5.9%
By Heather Rydings, Alliance News senior economics reporter
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Kefi Gold (KEFI)