AIM WINNERS & LOSERS: Kefi jumps as Tulu Kapi funding closer
13th Feb 2024 10:34
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Alliance News) - Kefi Gold & Copper on Tuesday said that its Saudi gold development project was "starting to shape up its plans for production", after recent drill works revealed a high-grade deposit. Read More
Kefi Gold & Copper PLC - Cyprus-based gold exploration company, focused on assets in Ethiopia and Saudi Arabia - Says its Tulu Kapi gold project financing agreements are in "near-final form". This comes after Kefi Gold reported earlier this month that its lead lender had approved a conditional final credit committee. The company said that the USD320 million financial packages will go towards its "shovel-ready" Tulu Kapi project in western Ethiopia. The project has already received approval from "key syndicate members", the company said, and Kefi believes that reported actions by the Ethiopian Government indicate its assent. Adds that its 25% owned Jibal Qutman gold and Hawiah copper-gold development projects are undergoing feasibility studies. Kefi also says it is targeting the launch of the projects. Read More
(Alliance News) - Kefi Gold & Copper PLC on Wednesday said that it had made "significant" financing progress in relation to its Ethiopian high-grade gold project. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold exploration and development company - Receives formal confirmation from the National Bank of Ethiopia of details for the operation of offshore banking by its operating subsidiary Tulu Kapi Gold Mines Share Co and its project finance banks. Says this clarifies the operational details for the implementation of the policies set out in the recently published National Bank of Ethiopia Directives, waiving mining projects from foreign exchange control and capital controls. As a result, Tulu Kapi is now fully-permitted, with only procedural administrative confirmations remaining. Consequently, the project finance banks can proceed to final credit approval for the project's USD190 million secured debt package. Upon approval, the project's debt terms will have been resolved, as will the structure of the overall USD390 million finance plan. Notes this is a "pivotal" formal step for project launch. Expects full project launch to begin in the current quarter. Read More
(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Alliance News) - Kefi Gold & Copper PLC on Tuesday said the National Bank of Ethiopia have published a new directive which satisfies the request made to ensure conformity with the specific detail of its Tulu Kapi gold project in western Ethiopia. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Kefi Gold & Copper PLC on Wednesday said it expects to be able to go ahead with the launch of its Tulu Kapi project despite violence in Ethiopia. Read More
Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Notes Ethiopian government's state of emergency in the Amhara region. Says Tulu Kapi gold project is approximately 700 kilometres away from the conflict area, but has had red zone protocols implemented for "some time" despite the project area being considered low risk. Adds it remains on track for the launch of the Tulu Kapi project, with procurement and construction commencement set to start in the final quarter of 2023. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued Wednesday and not separately reported by Alliance News: Read More
Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Says that all outstanding financing conditions requiring Ethiopian government input regarding the Tulu Kapi gold project have now been met. Says this enables Tulu Kapi individual syndicate members to proceed to final committee and board reviews and approvals for the USD390 million project finance package. Read More
Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold and copper explorer and developer - Posts a pretax loss of GBP6.4 million in 2022, widening from GBP4.9 million in 2021. Widened loss comes as company records a GBP2.8 million loss from a jointly controlled entity, compared to no such loss the year prior. Records no revenue, unchanged from a year prior. Notes that working environment in Ethiopia and Saudi Arabia "transformed for the better" during the year. "We now enjoy highly supportive mine-regulatory working environments in both countries which are also prioritising projects like ours across all the relevant Government agencies. Given that we have three advancing potential development projects in these jurisdictions, the company is now in a much better risk/return position than it has ever been," the company says. Read More
Kefi Gold & Copper PLC - gold exploration and development in Ethiopia and Saudi Arabia - Raises GBP243,741 via a retail share offer, with orders for 34.8 million shares at a placing price of 0.7 pence each. In total, wider capital raise now expected to total GBP6.4 million, including GBP5.5 million share placing and GBP700,000 subscription at same price. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More