Business
Tulu Kapi progress update
Tulu Kapi progress update.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nRNS Number : 3872Q KEFI Minerals plc 29 February 2016 \n\n \n 29 February 2016\n \nKEFI Minerals plc\n(\"KEFI\" or the \"Company\")\n \nTULU KAPI GOLD PROJECT on tracK\nFOR DEVELOPMENT FINANCING MID-2016 AND PRODUCTION END-2017\n \nKEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to provide the following progress report for its Tulu Kapi Gold Project in Ethiopia (\"Tulu Kapi\"), which remains on track for financing mid-2016 and production end-2017. \n \nOperational Progress:\n \n· FEED (Front-End Engineering and Design) has been delivered on schedule, this month, by the Engineering, Procurement and Construction contractor (via a fixed-price, lump-sum arrangement). \n \n· KEFI's expanded Social Performance Team has refined the plans for livelihood restoration of community members to be resettled and for the community development foundation. The Company now also plans to build an airstrip, which will provide advantages operationally for KEFI and for the community.\n \n· KEFI has significantly expanded the proposed exploration activity to occur in the vicinity of the planned Tulu Kapi ore processing facility, with the aim of increasing production and extending project life by expanding Ore Reserves.\n \nFinance Plan and Syndication:\n \n· Capital estimate remains at c. US$120 million (including working capital) and c. ...