Aim-listed gold and copper explorer and developer Kefi Minerals remains on track with the development of multi-party project financing activities and the early development works of its Tulu Kapi Gold Mines Share Company joint venture project in Ethiopia.
Kefi has maintained the full funding syndicate for the Tulu Kapi project and plans to sign the funding umbrella agreement this month to demonstrate the full funding commitment, in particular to the Ethiopian Ministry of Mines.
It also plans to evidence the full funding capacity of each syndicate member to the ministry, clearly set out any outstanding conditions for execution of the underlying definitive agreements between the respective individual counterparties to the umbrella agreement, and trigger full project construction in the Ethiopian dry season, starting in October.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.