Business
Progress with Tulu Kapi Project Finance
Progress with Tulu Kapi Project Finance.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nRNS Number : 5258X KEFI Minerals plc 27 November 2017 \n\n 27 November 2017\n \nKEFI Minerals plc\n \nPROGRESS WITH TULU KAPI PROJECT FINANCE \n \nKEFI Minerals (AIM: KEFI) (\"KEFI\" or the \"Company\"), confirms that it has made considerable progress towards finalising the US$140 million infrastructure finance lease facility for the development of the Tulu Kapi Gold Project (the \"Project\"). \n \nMajor milestones achieved included the documentation having been lodged with the Ethiopian Government for approval and the Ethiopian Minister of Finance and Economic Development has formalised budget approval for the Government to proceed with their construction and investment roles for the Project.\n \nThe proposed financing structure has been refined in response to soundings with potential investors in the listed bonds and the placing of the bonds is now expected to commence during Q1 2018, with drawdown expected soon thereafter conditional on equity capital subscription. The c. US$20 million residual equity requirement will then be triggered and may comprise, in order of preference, equity issues at one or more of the intermediate, project, or parent company levels.\n \nProject construction is expected to take place over 2018-2019 and production commissioning at the end of 2019.\n \n \nMarket Abuse Regulation (MAR) Disclosure\n \nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n...