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AIM WINNERS & LOSERS: Kefi jumps as Tulu Kapi funding closer
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
Read moreWed, 11th Jun 2014 15:50
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
Read more(Alliance News) - Kefi Gold & Copper on Tuesday said that its Saudi gold development project was "starting to shape up its plans for production", after recent drill works revealed a high-grade deposit.
Read moreKefi Gold & Copper PLC - Cyprus-based gold exploration company, focused on assets in Ethiopia and Saudi Arabia - Says its Tulu Kapi gold project financing agreements are in "near-final form". This comes after Kefi Gold reported earlier this month that its lead lender had approved a conditional final credit committee. The company said that the USD320 million financial packages will go towards its "shovel-ready" Tulu Kapi project in western Ethiopia. The project has already received approval from "key syndicate members", the company said, and Kefi believes that reported actions by the Ethiopian Government indicate its assent. Adds that its 25% owned Jibal Qutman gold and Hawiah copper-gold development projects are undergoing feasibility studies. Kefi also says it is targeting the launch of the projects.
Read more(Alliance News) - Kefi Gold & Copper PLC on Wednesday said that it had made "significant" financing progress in relation to its Ethiopian high-grade gold project.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Read moreKefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold exploration and development company - Receives formal confirmation from the National Bank of Ethiopia of details for the operation of offshore banking by its operating subsidiary Tulu Kapi Gold Mines Share Co and its project finance banks. Says this clarifies the operational details for the implementation of the policies set out in the recently published National Bank of Ethiopia Directives, waiving mining projects from foreign exchange control and capital controls. As a result, Tulu Kapi is now fully-permitted, with only procedural administrative confirmations remaining. Consequently, the project finance banks can proceed to final credit approval for the project's USD190 million secured debt package. Upon approval, the project's debt terms will have been resolved, as will the structure of the overall USD390 million finance plan. Notes this is a "pivotal" formal step for project launch. Expects full project launch to begin in the current quarter.
Read more(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:
Read more(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
Read more(Alliance News) - Kefi Gold & Copper PLC on Tuesday said the National Bank of Ethiopia have published a new directive which satisfies the request made to ensure conformity with the specific detail of its Tulu Kapi gold project in western Ethiopia.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more(Sharecast News) - Kefi Gold and Copper updated the market on its recent activities in Saudi Arabia on Wednesday, including details on its minority-owned Gold & Minerals (GMCO), as well as various exploration sites at Jibal Qutman, Hawiah, Al Godeyer, and Abu Salal.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Read more(Alliance News) - Kefi Gold & Copper PLC on Wednesday said it expects to be able to go ahead with the launch of its Tulu Kapi project despite violence in Ethiopia.
Read moreKefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Notes Ethiopian government's state of emergency in the Amhara region. Says Tulu Kapi gold project is approximately 700 kilometres away from the conflict area, but has had red zone protocols implemented for "some time" despite the project area being considered low risk. Adds it remains on track for the launch of the Tulu Kapi project, with procurement and construction commencement set to start in the final quarter of 2023.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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