KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors that the Ethiopian Council of Ministers has now approved Ethiopian Country Membership for Africa Finance Corporation (AFC). The approval is a critical condition for AFC to participate in financing the Tulu Kapi Gold Project.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors its Saudi Arabia joint venture joint venture has secured the Al Hajar North Exploration Licence, in a competitive tender round. Al Hajar North spans 910 square kilometres, in the Wadi Shwas Mineral Belt, an area with geological similarities to the Wadi Bidah Mineral Belt (WBMB), where the JV has already made three Volcanic Massive Sulphide (VMS) discoveries.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors it now has full board approval from both co-lending banks for its Tulu Kapi gold project in Ethiopia. It follows prior credit committee confirmations and it is subject to final updates and documentation.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams talked with Proactive about a major milestone for the company's flagship Tulu Kapi gold project in Ethiopia. He described the latest announcement as the most significant since KEFI decided to focus on the Arabian Nubian Shield in 2008.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors that the Tulu Kapi project in Ethiopia is ‘proceeding as anticipated', with a key financing milestone due in the coming weeks. Credit committee approval has been granted by both of its lending banks, and the remaining procedural steps are expected to be completed by 31 March.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has upgraded its resource estimate for the Jibal Qutman gold project in Saudi Arabia, pushing the total estimated gold to 902,000 ounces. The increase follows further drilling and analysis, strengthening the company's case for a long-life, multi-stage open-pit mine.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams talked with Proactive about the company's latest resource updates for the Hawiah and Jibal Qutman projects in Saudi Arabia. He highlighted that the total reported resource at Hawiah has now reached 3.00 million ounces of gold equivalent, with the potential to double based on new exploration licenses.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has reported a major increase in its mineral resource estimates at the Hawiah copper-gold project in Saudi Arabia, strengthening its position as one of the country's most significant base metals developments. The total resource at Hawiah has risen by 26% to 38.2 million tonnes, with 14.7 million tonnes now identified as suitable for open-pit mining.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams talked with Proactive about the latest financing progress for the Tulu Kapi Gold Project in Ethiopia. The company has secured commitments from senior lenders, covering two-thirds of the development capital, and is now focused on aligning equity financing to finalise the deal.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said that a case against the company for breach of contract has been dismissed by the English High Court with it also being awarded all of its counterclaims. “This was the last outstanding attempt in a string of threats of interference against KEFI, all of which have now been successfully dismissed,” its statement added.
KEFI Gold and Copper PLC's (AIM:KEFI, OTC:KFFLF) joint venture in Saudi Arabia, GMCO, has been awarded the Umm Hijlan exploration licence located directly south of its Hawiah prospect. GMCO has long identified this EL as a key target, KEFI added, given its proven extension of the southern strike continuation of the main Hawiah volcanic massive sulphide or VMS system.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) chairman Harry Adams said broader major works are set to start shortly at its Tulu Kapi development project in Ethiopia. Adams added that the remaining US$30 million of equity finance for the Tulu Kapi project is being finalised with certain Middle Eastern and other sectoral investors.