Business
Updates Presented to Mines and Money Conference
Updates Presented to Mines and Money Conference.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1094U\n Kefi Gold and Copper PLC\n 01 December 2021\n \n \n \n 1 December 2021\n KEFI Gold and Copper plc\n (\"KEFI\" or the \"Company\")\n KEFI Updates Presented to Mines and Money Conference in London\n KEFI Gold and Copper (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is presenting at the Mines and Money Conference being held in London on Wednesday 1 and Thursday 2 December 2021.\n The presentation being given will shortly be available on the Company's website at https://www.kefi-minerals.com and includes reference, inter alia, to the following matters:\n \n \n \n \n · \n \n \n \n Increase in asset values\n \n \n \n \n \n o \n \n \n \n The value of the Company's projects have, by the Company's estimates (using NPV analysis), more than doubled over the past year and are expected to increase further due to targeted expansion of resources and reserves over the coming year. The next update and upgrade to a Mineral Resource Estimate is scheduled for December 2021 in respect of the Hawiah Copper-Gold Project in Saudi Arabia. Looking beyond the short term, the Company has a large project pipeline to foster further growth following the planned triggering of its first developments in Ethiopia and Saudi Arabia in 2022 and 2023.\n \n \n \n \n \n \n \n \n \n \n \n \n \n · \n \n \n \n The Ethiopian political situation and the limited impact the civil war in Ethiopia has had on KEFI.\n \n \n \n \n \n o \n \n \n \n The conflicts in the Ethiopian civil war have all been well away (c 1000km) from the Tulu Kapi Project site. After the Ethiopian Government unilaterally declared a ceasefire on 28 June 2021, rebel forces proceeded to occupy large parts of the neighbouring states of Afar and Amhara (adjacent to the State of Tigray where the rebels originate) in July-September 2021. The rebels have not entered the State of Oromia where the Tulu Kapi Gold Project and Ethiopia's capital city Addis Ababa are located.\n \n \n \n \n \n o \n \n \n \n After the Ethiopian Government was re-elected in October 2021, it launched major military offensives which in recent days has led to the rebel militias retreating from Afar as government forces continue to advance on the rebel milit...