RCS - Kefi Gold and Copper - Updated Company Presentation for Investor Webinar

KEFI Gold and CopperAnnouncement

04/04/2022 09:30

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RNS Number : 1211H  Kefi Gold and Copper PLC  04 April 2022

REACH

4 April 2022

KEFI Gold and Copper plc

("KEFI" or the "Company")

Updated Company Presentation for Investor Webinar

KEFI (AIM: KEFI), the gold and copper exploration and development company with
projects in the Federal Democratic Republic of Ethiopia and the Kingdom of
Saudi Arabia, is pleased to advise that an updated presentation and a
just-published research report by mining specialist Orior Capital are being
made available on the Company's website at https://www.kefi-minerals.com
(https://www.kefi-minerals.com) .

The Orior Capital report suggests a current value of 4.8p/share based on peer
comparison of similar development stage companies, noting also KEFI's
estimated NPV of 12.9p/share based on the attributable values of its three key
projects.

The new presentation and research report follow the release of the Company's
Quarterly Update on 1 April 2022 and will be referred to during the Company's
webinar being held on 8 April 2022.

Investor Webinar

The Company will provide a Quarterly Update presentation via the Investor Meet
Company platform at 3.00 pm London time on Friday 8 April 2022.

Investors can register to attend using the following link:

https://www.investormeetcompany.com/kefi-gold-and-copper-plc/register-investor
(https://www.investormeetcompany.com/kefi-gold-and-copper-plc/register-investor)

Questions can be submitted pre-event via your Investor Meet Company dashboard
up until 9 am the day before the meeting, or at any time during the live
presentation. Investors who already follow KEFI on the Investor Meet Company
platform will automatically be invited.

 

Enquiries

 KEFI Gold and Copper plc
 Harry Anagnostaras-Adams (Managing Director)        +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 Securities Limited (Lead Broker)             +44 (0) 20 7100 5100
 Oliver Stansfield, Jonathan Evans
 WH Ireland Limited (Joint Broker)                   +44 (0) 20 7220 1666
 Katy Mitchell, Andrew de Andrade
 IFC Advisory Ltd (Financial PR and IR)              +44 (0) 20 3934 6630
 Tim Metcalfe, Florence Chandler

 

Notes to Editor

KEFI Gold and Copper plc

KEFI started as a grassroots explorer equity-funded via AIM and is now the
operator of large exploration and development joint ventures with strong local
partners in the Arabian-Nubian Shield, with most funding being sourced at the
project level.

KEFI is focused primarily on the development of its advanced development
projects in both Ethiopia and Saudi Arabia, plus the expansion of its resource
base at these projects and through exploration of its other prospects in the
Arabian-Nubian Shield. KEFI targets that production at its three development
projects, starting with Tulu Kapi Gold in Ethiopia and adding production from
Jibal Qutman Gold and Hawiah Copper-Gold in Saudi Arabia will generate cash
flows for capital repayments, further exploration and dividends to
shareholders.

 

KEFI Gold and Copper in Ethiopia

Ethiopia is currently undergoing a remarkable transformation both politically
and economically.

The Tulu Kapi gold project in western Ethiopia is being progressed towards
development, following a grant of a Mining Licence in April 2015.

The Company has now refined contractual terms for project construction and
operation. Estimates include open pit gold production of c. 140,000oz pa for a
7-year period. All-in Sustaining Costs (including operating, sustaining
capital and closure but not including leasing and other financing charges)
remain c. US$800/oz. Tulu Kapi's Ore Reserve estimate totals 15.4Mt at 2.1g/t
gold, containing 1.1Moz.

All aspects of the Tulu Kapi (open pit) gold project have been reported in
compliance with the JORC Code (2012) and subjected to reviews by appropriate
independent experts.

A Preliminary Economic Assessment has been published that indicates the
economic attractiveness of mining the underground deposit adjacent to the Tulu
Kapi open pit, after the start-up of the open pit and after positive cash
flows have begun to repay project debts. An area of over 1,000 square
kilometres adjacent to Tulu Kapi has been reserved for exploration by KEFI's
wholly-owned Ethiopian subsidiaries upon commencement of development by TKGM,
with a view to adding satellite deposits to development and production plans.

KEFI Gold and Copper in the Kingdom of Saudi Arabia

In 2009, KEFI formed Gold & Minerals Limited ("G&M") in Saudi Arabia
with local Saudi partner, ARTAR, to explore for gold and associated metals in
the Arabian-Nubian Shield. KEFI has a 30% interest in G&M and is the
operating partner.

ARTAR, on behalf of G&M, and G&M directly hold over 16 Exploration
Licence (EL) applications pending the introduction of the new Mining Law.
These new regulations have recently been proclaimed and G&M now holds 3
EL's.  ELs are renewable for up to three years and bestow the exclusive right
to explore and to obtain a 30-year exploitation (mining) licence within the
area.

In addition, G&M has a Mining Licence Application over the Jibal Qutman
Gold Project which recent informal indications by the authorities provide some
confidence that the licence will be granted in 2022.

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