KEFI Gold and Copper plc (LON: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, has reported that the English High Court of Justice, King’s Bench, has handed down its judgement in relation to a case against the Company, detailed in the Company’s 2023 Annual Report, that dismisses all claims against KEFI and awards to KEFI all of its counterclaims. This was the last outstanding attempt in a string of threats of interference against KEFI, all of which have now been successfully dismissed.
As regards this reported judicial outcome, the King’s Bench also noted that, prior to the matter going to Court, any claims and accusations against KEFI’s Executive Chairman and the President of one of KEFI’s banks were withdrawn. The Company has always considered the claims to be spurious and without merit, but it is nevertheless helpful that the matter has been resolved in KEFI’s favour, so as not to interfere with the progress of the Company’s Tulu Kapi Gold project or potentially impose a material financial burden on the Company. This also extinguishes the need for independent certification of readiness for finance closing in respect of this matter.
