IFC Advisory reposted this
🚀 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
