Business
Results for the year ended 31 December 2018
Results for the year ended 31 December 2018.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nRNS Number : 2094B KEFI Minerals plc 05 June 2019 \n\n5 June 2019\n \nKEFI Minerals plc\n \n(\"KEFI\" or the \"Company\")\n \nResults for the year ended 31 December 2018 \n \n \nKEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce its financial results for the year ended 31 December 2018. \n \nCommenting, KEFI and TKGM Chairman, Mr Harry Anagnostaras-Adams, said:\n \n\"2018 was a year of two halves for KEFI. Whilst the first half was orientated around consolidation as Ethiopia exited its states of emergency, the second half was one of significant development and progress as the Company formalised its strategic partnerships with the Government of Ethiopia and Ethiopian investors at the asset level of its flagship Tulu Kapi Project.\n \n\"Accordingly, KEFI now finds itself in the enviable position that, subject to receiving a confirmatory letter from the Ethiopian central bank as regards already-agreed project finance terms, we will have received all regulatory consents and financial commitments to trigger the development program at Tulu Kapi with our project contractors Lycopodium and Ausdrill..\n \n\"This may have taken longer than we had hoped, but the management team of KEFI remain resolute in their belief that, despite the historic delays, our Tulu Kapi Project continues to be a very attractive near term production project, with significant additional upside.\n \n\"As a consequence, KEFI now sits at the forefront of our sector in one of the world's great under-developed minerals provinces - the Arabian-Nubian Shield. We have established a solid platform to pursue our ambition to discover and develop profitable mining opportunities in Ethiopia and Saudi Arabia and thus build shareholder value. In particular we look forward to triggering the full development program at Tulu Kapi, with a view to starting commissioning towards the end of 2020, with full gold production from mid-2021.\n \n\"I look forward to the future with confidence and anticipate that the coming months will be a period of rapid progress for KEFI.\"\n \nNotice of AGM and Annual Report\n \nThe Annual General Meeting (\"AGM\") of the Company wi...