

KEFI Gold and Copper Plc (KFFLF) Discusses Share Issuance Impact and Tulu Kapi Project Development Progress Transcript

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF, FRA:KMSA) shares traded at 1.3p, down 7%, after it completed a £34 million placing priced at 1.2p a share, capping a fast-moving fundraise launched after market close on 19 March and pitched as the final equity piece needed to fully fund development of the Tulu Kapi gold project in Ethiopia. At the same time, it is The placing was described as oversubscribed, and involved existing and new investors.

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KEFI Gold and Copper PLC told investors it has added a US$20 million “equity-ranking” gold royalty from Chancery Royalty to the funding stack for its Tulu Kapi Gold Project in Ethiopia, calling it a key final component of the project's US$340 million financing package. The AIM-listed group said the royalty has been structured to rank on an equity-risk basis and is payable alongside shareholder distributions at its local subsidiary, Tulu Kapi Gold Mines (TKGM).

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF, FRA:KMSA) earlier this week signed detailed documentation for its $240 million debt package to fund development of the Tulu Kapi gold project in Ethiopia. Executive chairman Harry Anagnostaras-Adams joined Proactive to explain how and why KEFI sequenced debt ahead of equity, and outlined the preparatory infrastructure works now underway.
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