KEFI Gold and Copper

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it had received initial committee approval from a second co-lending bank to fund its Tulu Kapi gold project in Ethiopia. In addition, the project banks supplying the finance have also agreed to increase the loan facility to US$240 million from US$190 million, Finalisation of formal approvals from the first two co-lenders and definitive detailed documentation is being sought this quarter, Kefi added. Overall, the US$320 million development finance package is now covered by plans at subsidiary level, the junior said, with KEFI’s beneficial interest in Tulu Kapi expected to be 80%. Harry Adams, KEFI executive chairman, commented:  "Today's announcement that our project finance banks are looking to increase the Tulu Kapi project debt offering from US$190 million to US$240 million is testament to KEFI's focus, diligence and tenacity.   More at #Proactive #ProactiveInvestors http://ow.ly/3M3X105O1wI

📸 KEFI Gold and Copper Executive Chairman Harry Anagnostaras-Adams, Ethiopian State Minister of Fiscal Policy and Public Finance Dr. Eyob Tekalign Tolina, and Africa Finance Corporation President Samaila Zoubairu came together in the Ethiopian Ministry's boardroom to discuss the path forward for the Tulu Kapi Gold Project and the promising growth of Ethiopia’s mining sector. #KEFI #Mining #GoldExploration #TuluKapi #Ethiopia #ArabianNubianShield #InvestmentOpportunity #ProjectFinance #Growth

🌍 Exciting Update - Initial Approval for Increased Bank Loan on Tulu Kapi Project Secured. 🌍 We’re pleased to announce significant progress for our Tulu Kapi Gold Project in Ethiopia: 🔸 Loan Facility Expansion: Proposed bank loan facilities have increased from US$190 million to US$240 million. 🔸 Initial Approval: A second co-lending bank has granted initial committee approval for the expanded loan, with final approvals expected soon. 🔸 Strong Project Potential: With Ethiopia reclaiming its place among high-growth economies, our Tulu Kapi district Early Works program is showing clear readiness for Major Works. 🔸 Promising Returns: At US$2,100-2,600/oz gold price, Project NPV is estimated at 6.9 to 10.5 pence per share, significantly above the current share price. 🔸 Local and Regional Investment: Facilitating participation at both public and private sector levels in Ethiopia, aligned with local investment conditions. This is a testament to KEFI’s diligence and the supportive alignment of both regulatory frameworks and rising metal prices across Ethiopia and Saudi Arabia. KEFI Executive Chairman, Harry Anagnostaras-Adams commented: "Today's announcement that our project finance banks are looking to increase the Tulu Kapi project debt offering from US$190 million to US$240 million is testament to KEFI's focus, diligence and tenacity - and that the fact that the various stars are aligning around our Tulu Kapi project in Ethiopia, as they also have around our emerging projects in Saudi Arabia. The past two years has seen regulatory reforms in both countries, our flagship Tulu Kapi project being readied for development with the two Saudi advanced projects following, and metal prices having taken off. Tulu Kapi's high grades and high recoveries offer the potential to repay all project finance debt from the estimated net cash flows of the first full year of production, at US$2,600/oz gold price. Moreover, at US$2,100/oz to 2,600/oz gold, Project NPV to KEFI shareholders is 6.9 to 10.5 pence per share, 12-17 times the current share price, ignoring our other assets." Read more here: https://lnkd.in/egjFqxhh #KEFI #Mining #GoldExploration #TuluKapi #Ethiopia #ArabianNubianShield #InvestmentOpportunity #ProjectFinance #Growth

Video: Kefi Gold Secures $320M Loan for Tulu Kapi Build KEFI Gold and Copper's (AIM: KEFI) Tulu Kapi gold mine in Ethiopia nears a $320M construction loan, with founder Harry Anagnostaras-Adams projecting first production by late 2025. Watch the full video here: https://lnkd.in/eMe7Fwsh #mining #miningnews #copper #gold

KEFI Gold and Copper plc Announces Interim Results for H1 2024. We are pleased to share KEFI’s unaudited interim results for the six months ended 30 June 2024! 🌍💼 Our highlights: ✨ Ethiopia: 🏗️ Early Works are well underway at the Tulu Kapi Gold Project 🇪🇹 Ethiopia has seen remarkable pro-development reforms and an increasingly mining-friendly environment 🎯 On track for Major Works launch in Q4-2024 🚀 ✨ Saudi Arabia: Two core discoveries and several satellite finds at our Hawiah Copper-Gold & Jibal Qutman Gold Projects 🔬 Refining feasibility studies, ramping up regional exploration 🔍 📈 With record gold prices and robust development support, KEFI is positioned for strong growth! Read more here: https://lnkd.in/eDYPSmvz #Mining #Gold #Copper #SaudiArabia #Ethiopia #Growth #KEFI #TuluKapi #Hawiah #Exploration

📢 Tulu Kapi Operational Update: Early Works Progressing Well 📢 We're excited to share a brief update on the ongoing progress at KEFI's Tulu Kapi Gold Project in Ethiopia. Here's what's been happening recently: 🔧 Operational Highlights: Security: All required inspections have been completed, with independent monitoring continuing throughout the life of the Project. Local Consultations: Positive reception from local stakeholders through various consultations, ensuring continued support for the Project's Major Works. Community Resettlement: Preparations are underway, including compensations to facilitate the construction camp and align stakeholders. 💰 Financing Progress: The Ethiopian government is ready to finalise and execute necessary documents. We’re now focusing on optimising equity capital and preparing for next month's financial commitments. Harry Anagnostaras-Adams, Executive Chairman, commented, “We are steadily progressing with the Early Works and remain on track to trigger Major Works soon. The ongoing support from our stakeholders has been invaluable, and the timing couldn't be better, with gold prices continuing to hit record highs." 📈✨ #Gold #Mining #Copper #TuluKapi #KEFI #OperationalUpdate #Ethiopia #SustainableDevelopment #MiningIndustry #Growth 🔗 Read more here: KEFI Tulu Kapi Update

🚨 New Presentation Alert! 🚨 We’re excited to share that our latest presentation, "KEFI Gold and Copper: Colorado Conference - September 2024," is now available on our website. 🌍 This presentation provides key insights into our ongoing projects and strategic initiatives. 📄 Check it out here: https://lnkd.in/erpzyYJT #KEFIGoldAndCopper #MiningIndustry #Gold #Copper #Investors #ColoradoConference #SustainableMining #MiningUpdates #MineralExploration #MiningNews

KEFI Gold and Copper (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams tells Proactive's Stephen Gunnion about the company’s significant progress in Ethiopia, following a period of economic and political instability in the country. Anagnostaras-Adams highlighted Ethiopia’s resurgence as a key player in Africa, drawing parallels between the country’s current economic drive and his experiences in Japan and South Korea. Watch at #Proactive #ProactiveInvestors https://lnkd.in/d64VQWUd

🚀 KEFI Gold and Copper plc Operational Update: Early Works Progress at Tulu Kapi Project 🚀 We're excited to share a significant update on our Tulu Kapi Gold Project in Ethiopia! 🇪🇹 🔑 Key Highlights: Early Works Ramping Up: Construction camps are being built, security camps are installed, and geotechnical drilling is underway. 🛠️ Capacity Increase: We're exploring a 20% boost in processing capacity, incorporating underground mine development while maintaining capex and opex within forecasts. 📈 Community Engagement: The Tulu Kapi Charitable Foundation is expanding medical facilities and distributing malaria medication in the district. Infrastructure & Security: The nearby airstrip is upgraded, and government security around the site has been strengthened. ✈️ 💰 Financing Milestones: The second secured lender site visit is prepared, with final credit approval expected next month. ✔️ Local investors in Equity Risk Notes to finalize participation by the end of August, paving the way for finalization by other regional investors in September. 📆 Political Risk Insurance confirmed for non-Ethiopian investors as we prepare to finalize the equity investment syndicate structure in September. 🌍 Harry Anagnostaras-Adams, Executive Chairman, commented on the pro-mining environment and major economic reforms in Ethiopia, which are enhancing our momentum. ⚒️💪 At current gold prices, the first full year of operations is estimated to generate a net cash flow of $196M, more than enough to prepay all debt. 💵✨ Read the full statement here: https://lnkd.in/ezzDUxY7 #KEFI #Mining #Gold #Ethiopia #TuluKapi #OperationalUpdate #Sustainability #Finance #EconomicGrowth

📢 KEFI Gold and Copper plc (AIM: KEFI) Saudi Arabia Operational Update 📢 KEFI is excited to share the latest operational updates from our 25%-owned joint venture, Gold and Minerals ("GMCO"), in the Kingdom of Saudi Arabia. This covers significant progress at the Jibal Qutman Gold Project, the Hawiah Copper-Gold Project, and ongoing regional exploration. Read full statement here: https://lnkd.in/ePjZFhc3 Harry Anagnostaras-Adams, Executive Chairman, commented: In Saudi Arabia we have made two significant discoveries which, in aggregate gold-equivalent terms, are approximately double the in-situ metal of Tulu Kapi in Ethiopia. The two advanced Saudi projects will now benefit from an expanded leadership team has begun to be installed to oversee GMCO's next chapter of development as we aspire to become a leading Saudi metal producer. Whilst feasibility studies are refined and focused for completion on Jibal Qutman Gold and Hawiah Copper-Gold, GMCO's regional exploration effort is being re-elevated to expand and optimise our project pipeline within the Kingdom.   "Furthermore, as already reported this quarter, we remain on track in Ethiopia at Tulu Kapi, our most advanced project. In response to the most welcome and appreciated huge effort made by the Ethiopian Government to facilitate safe and internationally compliant development, the long-awaited Tulu Kapi funding package has been able to move into project finance completion and project launch mode. The Early Works programme was launched in May 2024 to facilitate financing agreement closings in October 2024 for Major Works to then proceed. Updates on this project will be made as appropriate via further announcements." 🚀 #KEFI #Gold #Copper #SaudiArabia #Mining #Exploration #Development #Innovation