Tulu Kapi Gold Project Update
KEFI Gold and Copper PLC announced that the signing of the US$240 million debt capital offering for the Tulu Kapi Gold Project is expected this week, following the resolution of a procedural matter. Construction projects are underway as part of the sequenced launch this month of the full US$340 million Project, with equity capital arrangements advancing. The company has unused working capital and undrawn facilities pending the drawdown of full project finance. Further announcements will be made as appropriate.
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KEFI (AIM: KEFI) reports that the signing of the US$240 million Tulu Kapi Gold Project (the "Project") debt capital offering is now expected to take place this week. This follows a procedural matter, now resolved, that was required to be addressed by one syndicate party last week.
The overall process remains unchanged from the steps and schedule previously set out, with various construction projects already underway and advancing as part of the sequenced launch this month of the full US$340 million Project, and with Project equity capital arrangements advancing. The Company has unused working capital resources and undrawn facilities in place pending drawdown of full Project finance.
A further announcement will be made as soon as appropriate.
KEFI Executive Chairman, Harry Anagnostaras-Adams, commented: "The process for full launch of Tulu Kapi continues intensely on all fronts with all parties, with all steps remaining scheduled for this month and next in accordance with the Tulu Kapi Project syndicate's agreed schedule.
"With the gold price at a record high this is the perfect time to be launching Tulu Kapi and I look forward to providing a further update in the near term."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.