RE: RE: Next Catalyst8 Jun 2026 11:03
Kefi have confirmed today that Tulu Kapi is now de-risked and will provide sector leading profits over the initial seven years ( in relative terms ) also on the Vox interview Harry gave heavy hints the further TK type will be added to the asset base. One word NICE :-)
· Average EBITDA of approximately US$355 million to US$697 million per annum over the first three years of production, equating to approximately US$305 million to US$599 million per annum net to KEFI;
· All-in Sustaining Costs of US$1,114 to US$1,254 per ounce;
· The all-in-cost after all debt servicing is approximately US$1,366-1,506 per ounce; and
· A Net Present Value (NPV) ranging from $1.1 billion at the start of construction (with gold at $3000/oz) to $2.4 billion at the start of production (with gold at $5000/oz). These figures reflect a 5% NPV discount and apply to KEFI's expected 86% beneficial interest and are net of all capital servicing. Total net cashflow over seven years of US$1.8 billion to US$3.4 billion at gold prices of US$3,000 to US$5,000 per ounce.
These metrics position Tulu Kapi as a highly cash-generative project. Even with gold at US$2,500/oz, operating cash flow would be expected to exceed total project debt in the first full year of production, fuelling rapid deleveraging and value realisation for shareholders.