KEFI Shares Rise as Ethiopian Government Confirms Support for Tulu Kapi Project
June 30 2022 - 4:17AM
Dow Jones News
By Jaime Llinares Taboada
Shares in KEFI Gold & Copper PLC jumped Thursday in early
trading after the mining company said that it has been told by the
Ethiopian government that the Tulu Kapi license isn't
cancelled.
The Ethiopian Minister of Mines told the company that recent
media reports of license cancellation were inaccurate, and
confirmed that the regulator's review will continue to ensure the
earliest possible launch of the gold project.
In addition, KEFI said that it has signed an umbrella agreement
with the project's finance syndicate setting out a full funding
package.
"The signing of the umbrella agreement is a very important step
and we look forward to completing the outstanding matters that will
allow for full project construction to commence in the Ethiopian
dry season, starting in October 2022," Executive Chairman Harry
Anagnostaras-Adams said.
Shares at 0835 GMT were up 39% at 0.71 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
June 30, 2022 05:02 ET (09:02 GMT)
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