9th May 2022 11:57
Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Progresses studies targeting recommencement and development at its Jibal Qutman gold project. Says a preliminary feasibility study is underway at its Hawiah copper-gold project, noting progress progress on the underground, open-pit and surface infrastructure designs. Also receives positive assay results from drilling at Hwaiah, returning a weighted-average gold grade of 1.7 grams per tonne. Completes initial drilling at Al Godeyer copper-gold prospect. Says assay from Al Godeyer are pending.
Chief Executive Harry Anagnostaras-Adams says: "At Hawiah, the team is progressing at great speed on this growing project. We remain on track to complete the [preliminary feasibility study] and updated [mineral resource estimate] in late 2022 and expect regular updates on the exploration work that is underway... The Jibal Qutman Gold Project also looks like it may emerge quickly as a larger than previously contemplated development proposition, after some years stuck in regulatory clearances."
Current stock price: 0.75 pence, down 3.0% in London
12-month change: down 65%
By Heather Rydings; [email protected]
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