KEFI updates on Tulu Kapi progress
Work on KEFI's Tulu Kapi gold project in Ethiopia is continuing
Company
LON:KEFI
KEFI Gold and Copper PLC is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The company is focused primarily on developing the advanced Tulu Kapi Gold Project in Ethiopia. KEFI has also been successful in Saudi Arabia where it has discovered and delineated gold resources at the Jibal Qutman Gold Project and copper-gold-zinc-silver resources at the Hawiah Copper-Zinc Project.
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Work on KEFI's Tulu Kapi gold project in Ethiopia is continuing
The blue-chip index of leading shares closed down almost 31 points at 7,611
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Anagnostaras-Adams has chaired the gold exploration and development business since 2014
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"In essence, we have taken what was originally a US$300mln project and arranged all major project development funding at the project level," executive chairman Harry Anagnostaras told shareholders at Thursday's AGM
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The AIM-listed gold exploration and development company said it has conditionally raised £3mln through a placing of 120mln new ordinary shares at a price of 2.5p each
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Broadly speaking, the new consortium is coming in on the same terms as the Ethiopian government
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The project is now only awaiting final governmental approvals before it can go into development