KEFI Gold and Copper: Edison
Metals and mining – LSE – M cap £42m – Price 0.52p – Outlook
New beginnings
Having required KEFI to work through regulatory overhauls and security threats, its host countries have now taken the brakes off, with the result that KEFI is launching its projects with a serendipitous tailwind of high metal prices. Major banks are signing up for Tulu Kapi in Ethiopia, with board ratification by Africa Finance Corporation following TDB last year. As such, project finance and other preparations are coming together for launch in Q225. In the meantime, KEFI has announced a JV today between its Saudi Arabian vehicle, GMCO, its local conglomerate partner ARTAR and Australian major Hancock. The JV focuses on a 900km2 major mineral belt 50km east and parallel to the analogous belt where GMCO has already discovered one of the world’s top 10% VMS deposits. This follows KEFI announcing material mineral resource upgrades at the Hawiah and Al Godeyer VMS deposits and at Jibal Qutman (gold) recently. As such, KEFI’s projects in both Ethiopia and Saudi Arabia are advancing apace.
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