Business
Interim Results
Interim Results.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n\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 \n30 September 2025\nKEFI Gold and Copper plc\n(\"KEFI\", or the \"Company\", or the \"Group\")\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2025\nKEFI Gold and Copper plc (AIM: KEFI), the gold exploration and development company with projects in the Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce its unaudited interim results for the six months ended 30 June 2025.\nHighlights\n· Significant progress made in the period with the Company's Tulu Kapi Gold Project and KEFI is on schedule to begin the full development programme in October 2025.\n· The final Tulu Kapi budget of US$340 million and its finance plan remain as recently announced, with project debt of US$240 million and equity risk capital planned to be issued almost entirely by KEFI subsidiaries for US$100 million.\n· The Boards of both co-lending banks and of the Group companies have approved and are expected to sign the formal commitment of the project loan facilities within the coming week.\n· The construction contracts have been finalised for signing upon drawdown of equity.\n· KEFI will now focus on providing details to, and entering into formal arrangements with, the equity risk capital investors. Non-binding proposals received for the equity risk capital currently exceed the US$100 million required.\n· The detailed financing documentation contains standard conditions such as change of control and conditions precedent for a transaction of this nature, including Government confirmations and approvals, and signing will continue in the appropriate sequence leading up to issuing the notice to proceed to principal contractor Lycopodium.\n· In the meantime, works will continue to escalate at site, in particular with the community resettlement, funded by working capital facilities pending the project finance drawdowns of equity and then debt.\n· Saudi projects continue to p...