1st Jul 2015 10:02
LONDON (Alliance News) - KEFI Minerals PLC said Wednesday it has had a "very successful" second quarter of 2015, and it is now focused on finalising full development funding for its Tulu Kapi project in Ethiopia in the third quarter.
The gold exploration and development company is aiming to begin construction at Tulu Kapi by the end of the year, commissioning in late 2016, and gold production in 2017.
During the quarter the company was granted a 20-year mining licence and full development permitting from the Government of Ethiopia.
It raised GBP2.9 million in a placing to fund its activities ahead of getting full development funding. It is currently in talks with debt-style financiers, the Government of Ethiopia and existing shareholders to secure this funding.
Shares in KEFI were up 2.4% at 0.845 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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