15th May 2018 13:12
LONDON (Alliance News) - Gold mining company KEFI Minerals PLC said on Tuesday it noted the changes in the Ethiopian government on April 2, including a new prime minister and new state minister following the resignation of the former prime minister.
KEFI is currently in communication with all government offices that deal with the Tulu Kapi Gold project in the Federal and Oromia regional governments to maintain progress on various administrative tasks as precursors to development.
In addition, KEFI noted that the international bond markets appear to favourably view the government's transition to new leadership, with markets indicating that the planned KEFI infrastructure bond will have a 7.0% coupon subject to the completion of formal due diligence and market conditions at the time of the issue.
The bond is expected to be a senior secured sinking fund bond issued by KEFI's Luxembourg special purpose vehicle and listed in Luxembourg.
Shares in KEFI Minerals were down 3.6% at 2.58 pence on Tuesday.
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