KEFI Gold and Copper – executive interview
30/04/2025
KEFI Gold and Copper, owner and operator of the Tulu Kapi mine in Ethiopia, has announced the appointment of BCM Group as its preferred mining contractor and that BCM will contribute $23m to the project’s pre-production expenses. In this interview, KEFI’s founder and executive chairman, Harry Anagnostaras-Adams, explains to Edison what this means for KEFI and its potential impact on the share price in due course.
KEFI Gold and Copper — New beginnings
20/03/2025
Having required KEFI to work through regulatory overhauls and security threats, its host countries have now taken the brakes off, with the result that KEFI is launching its projects with a serendipitous tailwind of high metal prices. Major banks are signing up for Tulu Kapi in Ethiopia, with board ratification by Africa Finance Corporation following TDB last year. As such, project finance and other preparations are coming together for launch in Q225. In the meantime, KEFI has announced a JV today between its Saudi Arabian vehicle, GMCO, its local conglomerate partner ARTAR and Australian major Hancock. The JV focuses on a 900km2 major mineral belt 50km east and parallel to the analogous belt where GMCO has already discovered one of the world’s top 10% VMS deposits. This follows KEFI announcing material mineral resource upgrades at the Hawiah and Al Godeyer VMS deposits and at Jibal Qutman (gold) recently. As such, KEFI’s projects in both Ethiopia and Saudi Arabia are advancing apace.
KEFI Gold and Copper — Clearing the decks
04/12/2024
KEFI has announced that it is raising c £10.6m by issuing c 1.9bn shares at a price of 0.55p. The full raise is in five parts: a firm placing, a retail offer, a conditional placing, a conditional subscription and a conditional issue. The first two have now been completed, raising £5.4m (gross) via the issue of 988.5m shares. The remaining three require shareholder approval from a general meeting on 2 January. Assuming this to be the case, they will raise a combined £5.1m (gross) via the issue of a further 933.2m shares.