Tulu Kapi Project Update
Ethiopian Council of Ministers approved AFC country membership, removing financing condition precedent for Tulu Kapi project.
Select text to share a quote on X · sign in to keep highlights & notes in your KEFI notes
KEFI (AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, is pleased to report that the Ethiopian Council of Ministers has formally approved Ethiopian Country Membership for Africa Finance Corporation ("AFC"), which is now with the Ethiopian Parliament for proclamation in legislation.
AFC is one of KEFI's co-lenders for the Tulu Kapi Gold Project ("Tulu Kapi" or the "Project"). Country Membership is a critical condition precedent for AFC's participation in the Project financing alongside Eastern and Southern African Trade and Development Bank (TDB) which already has Ethiopian Country Membership.
Following this positive development, KEFI will continue with the scheduled Project launch steps, as pre-agreed with the Ethiopian Government and the Project syndicate.
KEFI Gold and Copper plc
| Harry Anagnostaras-Adams (Executive Chairman) | +357 99457843 |
| John Leach (Finance Director) | +357 99208130 |
| SP Angel Corporate Finance LLP (Nominated Adviser) | +44 (0) 20 3470 0470 |
| Jeff Keating, Adam Cowl | |
| Tavira Financial Limited (UK Lead Broker) | +44 (0) 20 7100 5100 |
| Oliver Stansfield, Jonathan Evans | |
| IFC Advisory Ltd (UK Financial PR) | +44 (0) 20 3934 6630 |
| Tim Metcalfe, Florence Staton | |
| 3PPB LLC (North American Financial PR) | |
| Patrick Chidley | +1 (917) 991 7701 |
| Paul Durham | + 1-203-940-2538 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.