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KEFI Minerals boss on Tulu Kapi plans and Saudi Arabia potential

Published: 08:10 10 Dec 2015 GMT

Harry Anagnostaras-Adams, executive chairman of KEFI Minerals (LON:KEFI), discusses recent progress at the firm’s Tulu Kapi gold project in Ethiopia - where in the past two years KEFI has overhauled the project, fully permitted the site and made the economics robust.

The project is now in the bottom quartile for all-in sustaining costs of around US$724-750 an ounce. A definitive feasibility study published in August set out an estimate of the gross capital requirements at US$176mln on an owner-operated basis.

Meanwhile, Adams reckons the Arabian-Nubian Shield - where the firm's Jibal Qutman gold project is located -  will become as important to gold production as Western Australia.

KEFI is preparing to submit the mining licence application this month at Jibal Qutman in Saudi Arabia for the planned heap-leach operation, which is intended to start shortly after Tulu Kapi in Ethiopia.

KEFI Gold and Copper makes progress towards financial close for Tulu Kapi...

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has made further progress on its Tulu Kapi gold project in Ethiopia, crossing another milestone with the $320 million development budget. Executive chairman Harry Anagnostaras-Adams discussed the complexities of raising substantial funds in a new...

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