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Tulu Kapi Project Finance and Launch Update
KEFI Gold and Copper PLC has provided an update on the Tulu Kapi Gold Project financing, confirming that US$240 million in debt has been formally accepted and significant progress has been made on the remaining US$100 million equity-risk capital requirement. The company has signed term sheets for US$40 million in Equity-Ranking Gold Streams and is processing proposals for US$43 million in Ethiopian Birr denominated Preference Shares, with US$23 million of this already in detailed documentation. Discussions are also advanced for a US$50 million in-country investment from a specialist African fund. KEFI aims to finalise the entire project finance package this month, enabling the project's full launch. Disclaimer*
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 \n8 December 2025\nKEFI Gold and Copper plc\n(\"KEFI\" or the \"Company\")\nTulu Kapi Project Finance and Launch Update\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 provide an update on the continuing progress of the Company's high-grade/high-recovery Tulu Kapi Gold Project (the \"Project\" or \"Tulu Kapi\").\nHighlights\n· As per the Company's announcement of 20 October 2025, of the total Project funding requirement of US$340 million:\no a debt offering had been formally accepted for US$240 million, and\no the remaining requirement of US$100 million needed to be in the form of equity-risk capital, of which US$40 million had already been arranged and US$60 million was yet to be filled.\n· Since 20 October 2025, the following has been carried out:\no The detailed debt documentation for US$240 million has been assembled for execution, and in respect of the US$60 million which had yet to be finalised, we are pleased to provide the following update:\n§ The Company has signed terms sheets for US$40 million in the form of Equity-Ranking Gold Streams which give KEFI the right to draw up to an aggregate of US$20 million, together with the conditional right to an additional US$20 million subject to due diligence.\n§ The Company is processing proposals of US$43 million for its innovative Ethiopian Birr denominated Preference Shares (Redeemable and Non-Convertible) with specific qualified local investors, US$23 million of which has progressed into the detailed documentation stage.\n§ A US$50 million in-country-level investment by a specialist African fund remains in advanced discussions, together with consideration of other proposals to optimise the equity-risk component of the Project financing should they be preferred.\nThe Company intends to finalise the entire Project finance package ...