KEFI Minerals (LON:KEFI) has drawn up a short-list of project contractors and financiers for its Tulu Kapi project in Ethiopia, with the final decisions expected next quarter. Tulu Kapi is expected to come into production in 2017, with plant commissioning at the end of 2016. The resource is currently one million ounces but the company hopes to double that through additional exploration. KEFI also has a further at 733,045 ounces of gold at Jibal Qutman in Saudi Arabia, which is shaping up to be a 'viable cash flow producer with a low-capex requirement' said Harry Adams, chairman, ahead of the annual meeting. At Hawiah, also in Saudi Arabia, a drilling campaign is planned for the second half of the year better to define what Adams said is a huge precious and base metals target.
KEFI MInerals down to short-list for Tulu Kapi construction and finance
Jibal Qutman in Saudi Arabia, is shaping up to be a 'viable cash flow producer with a low-capex requirement' said Harry Adams, chairman, ahead of the annual meeting.