RE: Kefi17 Feb 2020 08:18
Using the proposed bank loan infrastructure financing, at 14 February 2020's gold price of US$1,580/oz, KEFI estimates that the TKGM net cash flow over the life of the open pit will be US$475 million after all debt and other obligations. At this current gold price of US$1,580/oz, the Definitive Feasibility Study or DFS-based NPV of the open pit (US$299 million) added to that of the PEA-based NPV of the underground mine (US$94 million), totals to the aggregate Project NPV of US$393 million. On this basis and after taking into account that KEFI has already invested nearly all of its expected contribution to the Project equity, the NPV of KEFI's 45% beneficial interest is US$177 million (approximately GBP138 million), about seven times the current GBP21 million market capitalisation of the Company.