KEFI Minerals plc (LON:KEFI) says that financing talks relating to its Tulu Kapi gold project remain ongoing and that an increase in the potential costs is more than covered in the scope of these talks.
The company said that the front end engineering and design cost had risen by 4% primarily due to currency movements, and that total capital development costs were now likely to come in at between US$150 mln and US$160 mln.
KEFI also noted that this estimate remains considerably lower than the US$289 mln capital cost estimate put out by the former owner of Tulu Kapi, back in the days of a higher gold price environment.