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Kefi Gold Share Price Rises on Tulu Kapi Project Update

Updated: 4 Jun 2021

AIM-listed Kefi Gold's (LON: KEFI) share price is climbing on Friday after the company said significant progress has been made during May at its Tulu Kapi gold project.

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Kefi is currently focusing on completing preparations for the full project launch after its annual general meeting, which is expected to be convened on 30 June.

The company said it remains on track to commence the project commissioning in late 2022, reaching total production by mid-2023.

Regarding the Tulu Kapi gold project, the gold and copper exploration firm said the project company, Tulu Kapi Gold Mines Share Company, submitted to the Ethiopian regulatory authority for its formal confirmation of compliance as part of the finance requirements an updated detailed Project development and production plan.

They have appointed Corica Group as the new project mining contractor.

The early works programme with principal process design and construction contractor, Lycopodium Limited, has commenced, and the major works package has been agreed to start any time from July.

Kefi Gold's share price is up 6.8% at 1.956p.

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