KEFI edges closer to execution risk as Tulu Kapi debt nears completion

Kefi-Gold-and-Copper-plc

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.

Share on:

Latest Company News

Goodwin launches strategic review of Mechanical Engineering division

Goodwin Plc has commenced a strategic review, including potential options for the substantial sale of part of its Mechanical Engineering division.

The Renewables Infrastructure Group Limited reports resilient H1 performance

The Renewables Infrastructure Group has reported interim results showing progress on capital realisation, dividend cover, NAV and portfolio development.

Murray International Trust delivers 10.5% NAV return in first half of 2026

Murray International Trust reported strong half-year results to 30 June 2026, with NAV total return of 10.5% and share price total return of 9.9%, both ahead of its long-term benchmarks. The trust declared two interim dividends, maintained a progressive policy, sold treasury shares to meet demand, and added new holdings including Blackstone, Pfizer and Union Pacific.

Ratio raises Pharos Energy offer to 33.75p per share

Ratio has increased its recommended all-cash offer for Pharos Energy to 28.8183 pence per share, plus a 4.0 pence special dividend, valuing the deal at 32.8183 pence per share. The Pharos board unanimously backs the revised offer over Serica’s competing bid, and has withdrawn its recommendation of the Serica offer.

JD Sports Fashion appoints Peter Agnefjäll as Chair

JD Sports Fashion has appointed retail veteran Peter Agnefjäll as Chair of the Board, effective 1 September 2026. Agnefjäll, former CEO of IKEA Group and former Chair of Ahold Delhaize, brings extensive global retail and governance experience. He will succeed Interim Chair Darren Shapland, who remains on the Board as an Independent Director.

Cameco and Ur-Energy production updates highlight output growth and operational risk

Cameco maintained its 2026 production guidance, while Ur-Energy reported higher quarterly and monthly uranium output.

    Search