Shares in KEFI Minerals jump after Ethiopian Government's green light
Abraham Darwyne
Company News - 2 min
09:40, 7th November 2019

KEFI Minerals (KEFI) FOLLOW on Thursday announced that it has received the green light from the Ethopian Government to commence development at the Tulu Kapi Gold Project.

In late October, the company had to wait for the Ethopian Government to resolve “certain internal administrative matters”.

However KEFI said on Thursday that confirmation from the Government of arrangements meant that it could complete and sign the final documentation and trigger subscription procedures for the Project equity capital.

Shares in KEFI jumped 56% to 1.165p on Thursday morning after the update

The Tulu Kapi project is said to have 1.1 million ounces of gold according to a JORC reserve estimate, with All-in Sustaining Costs of US$800 per ounce.

The Tulu Kapi Gold Mines Share Company is a high-profile public-private partnership in Ethiopia which KEFI said “has the potential to be the largest single export-generator” for the country.

Follow News & Updates from KEFI Minerals here: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Login or register to post comments

Recent Articles