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KEFI stands ready to develop Tulu Kapi as Ethiopia's first modern gold mine

"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

Tulu Kapi geologists
Geologists inspect drill core at Tulu Kapi

KEFI Minerals PLC (LON:KEFI) has all the required consortium members working hard to close full project financing for Tulu Kapi this year.

In a statement released ahead of the company's annual general meeting on Thursday, the company's executive chairman, Harry Anagnostaras-Adams, said KEFI “stands ready to develop Tulu Kapi as Ethiopia's first modern gold mine and then pursue organic growth via KEFI's already-established project pipeline in Ethiopia and in Saudi Arabia”.

READ: KEFI Minerals has start of Tulu Kapi construction in sight​

Anagnostaras-Adams said the Ethiopian government leadership has reaffirmed its support last week for the Tulu Kapi development, while what he called “the Ethiopianisation” of the ownership of the project took another step forward with the reaffirmation by local investors of their intention to subscribe for equity.

Today's presentation to shareholders at the annual general meeting and the questions and answers session will be recorded and uploaded to KEFI's website.

 

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Price: 1 GBX

LSE:KEFI
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Market Cap: £18.67 m
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