Business
Financial and Operational Update
Kefi Gold and Copper PLC has announced significant progress towards financial close for its Tulu Kapi Gold Project, with the US$240 million loan facility documentation now fully signed. The company is also finalising documentation for the remaining US$30 million in subordinated streams and royalties and US$20 million in Ethiopian Preference Shares, part of a US$100 million equity funding package, with full integration expected in February 2026. Operational developments are underway, including compensation payments for resettlers, land clearing, plant construction contractor mobilisation, and electricity transmission works. The company is also considering additional non-dilutive offerings totalling US$36 million to boost cash reserves for exploration and social programmes. Disclaimer*
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n\nNOT FOR PUBLICATION, RELEASE, FORWARDING OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.\n \n21 January 2026\n \nKEFI Gold and Copper plc\n \n(\"KEFI\" or the \"Company\")\n \nFinancial and Operational Update\n \nKEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, is pleased to provide an update on financial close and operations at the Company's high-grade/high-recovery Tulu Kapi Gold Project (the \"Project\" or \"Tulu Kapi\").\n \nLoan Documentation Signed & Equity Update\n \nFurther to the announcement of 20 October 2025 and the subsequent arrangement of the US$100M equity funding, the Company is delighted to confirm that the final documentation with respect to the US$240M Loan Facility is fully signed.\n \nThe balance of the US$100M equity-risk capital, being US$30M of subordinated streams and royalties and US$20M of Ethiopian Preference Shares is undergoing final documentation. Signing of the fully integrated final funding package remains on track for February 2026. Additional offerings of this type, which are not dilutive at the plc or asset level, totalling $36 million are being considered to potentially boost cash reserves, which in turn would also fund exploration and social programmes.\n \nOperational Developments\n \nFollowing the placing of US$20M in December 2025, which completed the balance of the equity funding required for Project launch, a number of works have commenced or advanced this month, including:\n \n\n\n\n\n·\n\n\nCompensation payments have started for the first phase of community resettlers\n\n\n\n\n·\n\n\nLand clearing commenced to construct housing for resettlers\n\...