Business
Tulu Kapi Full Launch Underway and Fundraise
Kefi Gold and Copper PLC has announced the full launch of its Tulu Kapi Gold Project, having secured a US$340 million debt and equity financing package, comprising US$240 million in long-term debt and US$100 million in equity risk capital. The company is also undertaking a US$20 million equity fundraise, with a retail offering of up to £1 million, to cover immediate launch costs and repay liabilities. This financing is expected to fully fund Tulu Kapi's development, with projected net cash flow per annum for KEFI shareholders ranging from US$151 million to US$330 million over the first seven years, and an NPV of US$858 million to US$1,939 million. 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.\n22 December 2025\nKEFI Gold and Copper plc\n(\"KEFI\" or the \"Company\")\nTulu Kapi Project Update: Full Launch Underway\nUS$20 million issue of equity to Fund Immediate Component of Assembled US$340 million Debt and Equity Package and repay liabilities (the \"Fundraise\")\nRetail Offering of up to £1 million\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 report the full launch of the Company's high-grade/high-recovery Tulu Kapi Gold Project (the \"Project\" or \"Tulu Kapi\"), having assembled the required debt and equity capital. In addition, the Company is undertaking a fundraise to pay initial launch costs ranging from field work to lenders' and other financiers' fees and costs associated with the full funding package, including the repayment of working capital facilities drawn to pay for such costs to date.\nHighlights\n· The Project is being officially launched in a structured and orderly manner after securing US$340 million in capital-US$240 million in long-term debt funding and assembling US$100 million in equity risk capital.\n· US$240 million long term project debt: following the announcement on 20 October 2025 that the debt offering of US$240 million had been formally accepted, the detailed facility agreement has been finalised and is in circulation for signing. KEFI has already commenced the process of satisfying the lenders' requirements for drawdown under the debt facility, the first and major condition being to assemble the equity-risk-capital of US$100 million.\n· The US$100 mill...