13th Oct 2025 12:11
Kefi Gold & Copper PLC - Nicosia, Cyprus-based miner focused on Tulu Kapi gold project in Ethiopia - Expects the signing of the USD240 million Tulu Kapi Gold Project debt capital offering to occur this week. Company says this follows a now-resolved procedural matter that one syndicate party was required to address last week. Says the overall process remains on schedule, with various construction projects and equity capital arrangements already advancing. Kefi adds that it has unused working capital resources and undrawn facilities in place, pending the drawdown of the full Tulu Kapi financing. Says it will make a further announcement as soon as is appropriate.
"The process for full launch of Tulu Kapi continues intensely on all fronts with all parties, with all steps remaining scheduled for this month and next in accordance with the Tulu Kapi project syndicate's agreed schedule," Executive Chair Harry Anagnostaras-Adams says. "With the gold price at a record high this is the perfect time to be launching Tulu Kapi and I look forward to providing a further update in the near term."
Gold traded at USD4,070.01 an ounce near the London market open on Monday, having earlier risen to a record USD4,078.
Current stock price: 1.51 pence, up 25% on Monday in London
12-month change: more than doubled from 0.57p on October 15, 2024
By Emma Curzon, Alliance News reporter
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