KEFI Gold and Copper: Banks increase proposed loan facilities to US$240 million

KEFI Gold and Copper plc (LON:KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield since 2008, has provided an update regarding the Company’s high-grade Tulu Kapi Gold Project, focusing in particular on the Tulu Kapi project financing.

Highlights

· Banks increase proposed loan facilities from US$190 million to US$240 million

· Initial committee approval granted by second co-lending bank for increased amount, with final approvals subject to remaining conditions being satisfied (as outlined below)

· First co-lending bank to refresh its existing completed board approval, now for the increased loan

· Targeting finalisation of these formal approvals and of definitive detailed documentation this quarter

· US$320 million development finance package now covered by plans at subsidiary level. Expected 80% KEFI beneficial interest in Tulu Kapi

· NPV (5%) to KEFI of 6.9-10.5 pence per KEFI share in issue at US$2,100-2,600/oz* gold price, excluding other assets

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KEFI Gold and Copper plc

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