KEFI Gold and Copper PLC (AIM: KEFI, OTC: KFFLF) has officially launched the Tulu Kapi Gold Mines project in Ethiopia, following a decision by the board of its local subsidiary, TKGM. This board includes representatives from both the Ethiopian Federal and Oromia Regional Governments.
“The decision to launch Tulu Kapi follows the deployment of dedicated site policing and the subsequent conditional confirmations from all members of the project’s finance syndicate,” KEFI stated.
The company will upload an updated corporate presentation to its website, which will include a summary of Early Works, Major Works, Key Milestones, Finance Plan, and Key Economic Metrics.
Harry Adams, KEFI’s executive chairman, commented: “Our launch timing fortuitously coincides with improved conditions in Ethiopia and record high gold prices.
“We can now proceed to safely complete our Early Works on schedule and meet all conditions precedent for drawing down full project finance as planned, enabling the commencement of Major Works in October 2024.
“This deliberately sequenced and disciplined approach reflects our commitment to adhering to the highest standards in safety, social, environmental, technical, and other areas, befitting a first mover in this field.”
