KEFI Gold & Copper says it is ready to sign a $240 million debt package for its Tulu Kapi gold project in Ethiopia.
The debt is the core pillar of a broader $340 million capital plan, aimed at bringing Tulu Kapi into production. KEFI confirms that a key procedural snag involving a syndicate lender has now been resolved, unlocking the final step. The company is already drawing on existing facilities and has started phased construction, with all major funding agreements expected to be in place before year end.
Crucially, KEFI has stressed that it has adequate working capital to cover the remaining interim phase. That is essential, given that the full debt package has not yet been drawn. With gold trading near all-time highs, KEFI views this as a window to lock in funding and begin production in a high-margin environment.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
