RNS10 Jul 2024 07:14
Looks a pretty positive update to me.....
'Excellent progress is being made with the intense Early Works programme following Project launch in May 2024 to take Tulu Kapi through to September 2024, and provide the basis for full financial close and commencement of Major Works in October 2024, ahead of commissioning of production in mid-2026'
'The US$320 million full Project funding package remains as previously announced:
· US$190 million secured lenders, being East and Southern African Trade and Development Bank Ltd and African Finance Corporation Limited;
· US$20 million equity investors in TKGM, being the Ethiopian Federal and Regional Governments; and
· US$110 million regional equity and note Investors in the Ethiopian holding company.'
'Subject to finalisation of full Project financing, KEFI's current beneficial ownership of 95% in TKGM will likely be diluted to c.80% upon closing.'