( KEFI or the Company )
Q1 2021 Operational Update
KEFI (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide its latest quarterly operational update.
This update encompasses the activities of KEFI Minerals (Ethiopia) Ltd ( KME ) and Tulu Kapi Gold Mines Share Company ( TKGM ) in Ethiopia, and Gold & Minerals Ltd ( G&M ) in Saudi Arabia for the period from 1 January 2021 to 31 March 2021 ( Q1 ), together with more recent developments where appropriate. In Ethiopia The Tulu Kapi Gold Project (the Project or Tulu Kapi ) remains on track overall, in line with previous guidance with the financial closing program having commenced and remaining in progress. Notably, the project finance consortium remains focused on:
KEFI Gold and Copper plc (LSE:KEFI) | RNS | Kefi Gold and Copper - Q1 2021 Operational Update
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KEFI Gold and Copper plc KEFI is focused primarily on the advanced Tulu Kapi Gold Project development project in Ethiopia, along with its pipeline of other projects within the highly prospective Arabian-Nubian Shield. KEFI targets that production at Tulu Kapi generates cash flows for capital repayments, further exploration and expansion as warranted and, when appropriate, dividends to shareholders. KEFI in Ethiopia Ethiopia is currently undergoing a remarkable transformation both politically and economically. The Tulu Kapi gold project in western Ethiopia is being progressed towards development, following a grant of a Mining Licence in April 2015. The Company has now refined contractual terms for project construction and operation, together with