KEFI Gold and Copper plc (LON:KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has announced that a new investor presentation has been uploaded to the Company’s website: https://www.kefi-goldandcopper.com
KEFI’s Executive Chairman Harry Anagnostaras-Adams, Exploration Strategy Advisor Jeff Rayner and Chief Operating Officer Eddy Solbrandt will speak to this presentation at the Hilton London Angel Islington Hotel (adjacent to venue for the Mines and Money London Conference) at 4pm on both Thursday and Friday 1 and 2 December 2022.
The presentation summarises the Company’s plans for the remainder of 2022 and 2023, in line with previous announcements, including:
· Over the next three years KEFI Gold and Copper is targeting to start gold production in both Ethiopia and Saudi Arabia and to then start development of Hawiah Copper-Gold Project in Saudi Arabia, lifting aggregate production to a gold-equivalent 400,000 ounces p.a. (KEFI interest c.200,000 ounces p.a.)
· Development expenditures for all three of KEFI’s advanced projects are intended to be almost entirely financed at the project or subsidiary level
· Tulu Kapi, Ethiopia:
o Progress remains on track for definitive documentation to be signed by year-end for the Tulu Kapi Gold Project financing and project launch.
o KEFI is now targeting 70-80% ownership interest in the project.
o KEFI equity requirements for Tulu Kapi to be almost entirely funded by regional investors via convertible subordinated loans to KEFI Ethiopia, the holding company between KEFI and the operating company Tulu Kapi Gold Mines. These will be repayable or convertible at KEFI’s election at share values prevailing after production has started and details will be provided on signing of definitive documentation.
· Jibal Qutman, Saudi Arabia: Definitive Feasibility Study well advanced and completion in early 2023. Expected to start construction within six months of Tulu Kapi
· Hawiah, Saudi Arabia: Update Mineral Resource Estimate expected in December 2022 and Preliminary Feasibility Study well advanced for completion in early 2023 to reflect expanded resources
· Exploration pipeline to be progressed in-parallel to the three advanced projects