In London ,this morning 17 May 2022, KEFI shareholders formally approved the recent capital raisings which were in several stages providing GBP28 million for KEFI to inject into early development works mainly at Tulu Kapi and also at the two Saudi Arabian projects.
The total is the equivalent of Ethiopian Birr 1.8 billion and represents part of the future development costs at Tulu Kapi of approximately Ethiopian Birr 18 billion which KEFI has arranged following successful meetings last week of the banks and others in the project consortium altogether in South Africa.
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.