Proactiveinvestors United Kingdom KEFI Minerals PLC Proactiveinvestors United Kingdom KEFI Minerals PLC RSS feed en Sun, 26 May 2019 12:38:53 +0100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 30 Apr 2019 11:55:15 +0100 <![CDATA[RNS press release - Total Voting Rights ]]> Tue, 30 Apr 2019 07:00:06 +0100 <![CDATA[RNS press release - Mr Mark Wellesley-Wood ]]> Mon, 29 Apr 2019 17:30:03 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Wed, 17 Apr 2019 15:17:16 +0100 <![CDATA[RNS press release - Q1 2019 Operational Update - Replacement ]]> Tue, 16 Apr 2019 11:06:12 +0100 <![CDATA[RNS press release - Q1 2019 Operational Update ]]> Tue, 16 Apr 2019 07:00:03 +0100 <![CDATA[RNS press release - TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES ]]> Wed, 10 Apr 2019 12:52:55 +0100 <![CDATA[RNS press release - Project Equity Financing Update ]]> Mon, 08 Apr 2019 07:00:07 +0100 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Mon, 25 Mar 2019 16:40:49 +0000 <![CDATA[RNS press release - Price Monitoring Extension ]]> Mon, 25 Mar 2019 16:35:41 +0000 <![CDATA[RNS press release - Project Financing Update ]]> Wed, 13 Mar 2019 07:00:02 +0000 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Wed, 06 Mar 2019 16:41:01 +0000 <![CDATA[RNS press release - Price Monitoring Extension ]]> Wed, 06 Mar 2019 16:35:40 +0000 <![CDATA[RNS press release - Ethiopian Prime Ministerial Support ]]> Tue, 05 Mar 2019 07:00:08 +0000 <![CDATA[RNS press release - Total Voting Rights ]]> Thu, 28 Feb 2019 07:00:09 +0000 <![CDATA[RNS press release - Placing and Tulu Kapi Consortium Plans Update ]]> Thu, 21 Feb 2019 11:09:42 +0000 <![CDATA[RNS press release - Indaba Presentation ]]> Mon, 04 Feb 2019 07:00:06 +0000 <![CDATA[RNS press release - Q4 2018 Operational Update ]]> Tue, 29 Jan 2019 07:00:04 +0000 <![CDATA[RNS press release - TKGM Project Partners Update ]]> Fri, 25 Jan 2019 07:00:03 +0000 <![CDATA[RNS press release - Project Update ]]> Thu, 03 Jan 2019 07:00:10 +0000 <![CDATA[RNS press release - Holding(s) in Company ]]> Wed, 02 Jan 2019 12:05:24 +0000 <![CDATA[RNS press release - Total Voting Rights ]]> Mon, 31 Dec 2018 07:00:04 +0000 <![CDATA[RNS press release - Result of GM & Issue of Equity ]]> Mon, 17 Dec 2018 11:50:01 +0000 <![CDATA[RNS press release - GM Statement ]]> Mon, 17 Dec 2018 07:45:38 +0000 <![CDATA[RNS press release - Project Update ]]> Thu, 06 Dec 2018 07:00:03 +0000 <![CDATA[RNS press release - Posting of Notice of General Meeting ]]> Thu, 29 Nov 2018 08:00:01 +0000 <![CDATA[News - KEFI Minerals agrees US$4mln convertible loan facility ]]> KEFI Minerals PLC (LON:KEFI) told investors that it has entered into a US$4mln secured convertible loan facility with “a longstanding institutional shareholder of the company”.

The company said that the facility will expand the company's flexibility for progressing the Tulu Kapi gold project and other operations.

It added that it will support decisions taken recently amongst the Tulu Kapi consortium to start certain high-impact tasks – including community resettlement, project development and the initial reconnaissance of an expanded district for exploration.

READ: KEFI secures agreement to resettle Tulu Kapi community

KEFI said the facility expands the company's working capital and will also complement the existing project financing plans.

The company also gave investors an operations update for the project.

“It has been a challenging year with many changes to the political landscape of the jurisdictions within which the company operates,” KEFI said.

“It is, however, refreshing that the changes during 2018 have been overwhelmingly positive and the company now stands with assets, relationships and people that provide a great platform to deliver shareholder value by developing profitable mines and exciting exploration programs in Ethiopia and Saudi Arabia.”

It added: “Over the previous two years, political changes in Ethiopia have caused some material delays and it is today pleasing to see a rapid and smooth transition to new national leadership over the past six months with widespread support in Ethiopia and what appears to be a progressive attitude to reform on various fronts.

“Throughout these recent political events, the company and its consortium for Tulu Kapi remained steadfast and took the opportunity to refine and improve project plans.”

Wed, 28 Nov 2018 11:14:00 +0000
<![CDATA[RNS press release - Loan Facility, Operational Update and Notice of GM ]]> Wed, 28 Nov 2018 10:20:43 +0000 <![CDATA[RNS press release - Ethiopian Exploration Area Expansion ]]> Tue, 06 Nov 2018 07:00:06 +0000 <![CDATA[RNS press release - Key Saudi Exploration Licence Issued ]]> Thu, 01 Nov 2018 07:00:04 +0000 <![CDATA[RNS press release - Secured Loan Facility ]]> Tue, 30 Oct 2018 07:00:07 +0000 <![CDATA[RNS press release - Field Activities Advancements for Tulu Kapi ]]> Mon, 29 Oct 2018 07:00:07 +0000 <![CDATA[RNS press release - Q3 Operational Update ]]> Wed, 10 Oct 2018 07:00:04 +0100 <![CDATA[News - KEFI secures agreement to resettle Tulu Kapi community at the beginning of next year ]]> KEFI Minerals plc (LON:KEFI) has secured approval from local, zonal and regional authorities for the resettlement of local people at the Tulu Kapi gold project in Ethiopia.

Preparatory activities for the resettlement will now turn to a community communication and consultation programme on the various aspects of the home and livelihood restoration plans down to the individual household level.

WATCH: £5.5mln fundraise sees KEFI Minerals fully funded for Tulu Kapi construction

The physical preparations will be launched as soon as the wet season ends shortly. The resettlement work teams will commence building roads into new host lands and the preparation of new host lands.

During this time the community will harvest its crops in Tulu Kapi, but new farmlands will be cleared to assist the community's re-establishment of livelihoods.

The Tulu Kapi gold project will be directly employing and training over 1,000 people by the end of 2019 if all goes according to plan, and is expected to generate significant indirect benefits to local and regional stakeholders for the long term.

Export revenues are likely to amount to approximately US$200mln per annum.

The plan is to start construction in early 2019 and commission production during the second half of 2020.

Project activities on the ground in the next month will include site surveys and geotechnical drilling of final foundation layouts for on-site infrastructure.

"In many ways, this is the most welcome recent development because it takes years to establish the sort of trust required for a smooth project launch when a country and region is going through such rapid change,” said KEFI managing director Harry Anagnostaras-Adams.

"KEFI and its partners in Tulu Kapi Gold Mines deeply appreciate the support of the community and of the authorities and are committed to maximising the local benefits of the project."

Mon, 08 Oct 2018 09:06:00 +0100
<![CDATA[RNS press release - Government Clearance of Community Resettlement ]]> Mon, 08 Oct 2018 07:00:05 +0100 <![CDATA[RNS press release - TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES ]]> Tue, 02 Oct 2018 07:00:11 +0100 <![CDATA[RNS press release - Project Equity Investment Agreement with ANS ]]> Fri, 28 Sep 2018 13:45:05 +0100 <![CDATA[RNS press release - Interim Results ]]> Thu, 27 Sep 2018 13:30:01 +0100 <![CDATA[RNS press release - TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES ]]> Wed, 26 Sep 2018 12:11:46 +0100 <![CDATA[RNS press release - Appointment of Joint Broker ]]> Fri, 21 Sep 2018 07:00:04 +0100 <![CDATA[RNS press release - TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES ]]> Tue, 18 Sep 2018 09:05:14 +0100 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Mon, 10 Sep 2018 16:40:29 +0100 <![CDATA[RNS press release - Price Monitoring Extension ]]> Mon, 10 Sep 2018 16:35:22 +0100 <![CDATA[RNS press release - New Director Appointment ]]> Thu, 06 Sep 2018 09:52:46 +0100 <![CDATA[News - KEFI Minerals receives key approvals at Tulu Kapi ]]> KEFI Minerals PLC (LON:KEFI) has received key development and financing policy approvals for the Tulu Kapi gold project from the Ethiopian government.

Approval at the project level was received back in 2015, so these latest approvals almost complete the permitting process for Tulu Kapi.

WATCH: £5.5mln fundraise sees KEFI Minerals fully funded for Tulu Kapi construction

These latest permissions include Ethiopian central bank approval for the project banking arrangements, complementing its approvals of proposed balance sheet capital ratios and allowing KEFI’s operating subsidiary to hedge the gold price.

Whilst the remaining required government consents are important, they are more administrative in nature.

"The government has certainly accelerated the pace in recent times as regards the various regulatory processes for this, the first modern mine development in Ethiopia,” said KEFI’s managing director Harry Anagnostaras-Adams.

“All major policy matters are now resolved for the project. There is every sign that the just-appointed government leadership at the Federal, Oromia Regional and local levels is focused on making this happen very successfully and smoothly.”

Tue, 04 Sep 2018 08:02:00 +0100
<![CDATA[RNS press release - Key Government Consents Received For Tulu Kapi ]]> Tue, 04 Sep 2018 07:00:04 +0100 <![CDATA[News - KEFI Minerals signs heads of agreement with Ethiopian investor syndicate regarding Tulu Kapi project ]]> KEFI Minerals plc (LON:KEFI) has signed a detailed heads-of-agreement with a syndicate of Ethiopian investors for an investment in its Tulu Kapi gold project in the country.

The AIM-listed mining firm said the US$30-35mln investment (made in the equivalent of Birr, the Ethiopian currency) would be made in the project via Arabian Nubian Shield Resources Limited (ANS), an investment vehicle in the process of incorporation that would enable share subscriptions from “a number of identified Ethiopian financial institutions and family offices”.

READ: KEFI updates on Tulu Kapi progress

KEFI said the intention was that no member of the syndicate would hold more than 10% of ANS or have any involvement in the gold mining business at Tulu Kapi.

The initial subscription of US$9mln (of the US$30-35mln) will be set aside into a locked account, with settlement commencing 31 August 2018 and completed no later than 30 September 2018 along with a commitment to the full amount being invested by year-end alongside full project-finance commitments.

The firm added that following an announcement on June 11 where it had raised US$30mln from the sale of a stake in ANS, refinements to the proposed transaction included the right for ANS to subscribe in local currency alongside the Government of Ethiopia for up to US$35mln (rather than the original US$30mln) in new shares of the project company, Tulu Kapi Gold Mines Share Company Limited (TKGM).

Harry Anagnostaras-Adams, managing director of KEFI, said: "Subscription by both the Government of Ethiopia and ANS Resources to project company TKGM implies a valuation of circa US$66mln to a residual KEFI holding of 54%. This compares with investment to date by KEFI shareholders (including shareholders which KEFI inherited from the previous project owner) of US$60mln.

He added: “It also compares with the previously reported NPV of US$57-97mln (NPV at start of construction versus NPV at start of production) for KEFI's proposed final interest in the Tulu Kapi open pit development, whilst ignoring any potential upside from underground mining, Tulu Kapi district exploration or its portfolio of targets in Saudi Arabia”.

Fri, 24 Aug 2018 07:40:00 +0100
<![CDATA[RNS press release - Heads of Agreement Signed with Ethiopian Syndicate ]]> Fri, 24 Aug 2018 07:00:04 +0100 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Tue, 21 Aug 2018 12:07:34 +0100 <![CDATA[RNS press release - Price Monitoring Extension ]]> Tue, 21 Aug 2018 12:02:30 +0100