LONDON (Alliance News) - Kefi Minerals PLC on Tuesday said it remains on track to publish the definitive feasibility study for the Tulu Kapi gold project in Ethiopia this month and says it on schedule to secure financing for the project in the third quarter.
Kefi said the draft of the study is being reviewed by independent technical consultants to its lenders, and the company is currently preparing the final tender documents for the mining operations and for the construction of the process plant and infrastructure at the site.
"We are pleased with the progress that KEFI has made in the first five months of 2015. The updated Definitive Feasibility Study is nearing completion and preparations for the full funding required for project development are also on schedule. We remain on track to commence construction in late 2015, plant commissioning in late 2016 and gold production in 2017," said Kefi Non-Executive Chairman Harry Anagnostaras-Adams.
Kefi shares were down 0.6% to 0.845 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Kefi Gold & Copper (KEFI)