REG - Kefi Gold and Copper - General Meeting Statement

KEFI Gold and CopperAnnouncement

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RNS Number : 2592A  Kefi Gold and Copper PLC  14 April 2026

14 April 2026

 

KEFI Gold and Copper plc

 

("KEFI" or the "Company")

 

General Meeting Statement

 

KEFI Gold and Copper plc (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 holding a General Meeting ("GM")
today at 4.00 p.m. AEST in Australia. At the GM, Harry Anagnostaras-Adams,
Executive Chairman of the Company, will make the following statement:

 

"Welcome to the General Meeting of KEFI Gold and Copper.  Today we have quite
a few new shareholders, or about to be shareholders. The participants in the
recent placing will own approximately 20% of the Company on a fully diluted
basis (taking into account issued shares, issued warrants and also options
which will be granted over unissued shares in accordance with KEFI's Incentive
Option Scheme). So, welcome aboard to all the new shareholders. You have
joined us longstanding shareholders at a particularly important and propitious
moment and we appreciate your putting your weight behind us.

 

Upon today's General Meeting passing the resolutions, we will have financed
and launched the start-up of perhaps the highest grade-highest recovery, and
therefore highest margin, gold development in Africa. And we are doing it in
high-growth Ethiopia. We are also doing so in a period of gold price strength
as the world is allocating more of its long-term capital into gold. I believe
that the current Middle East war only serves to reinforce this trend.

 

At KEFI, we have long prepared for this moment and the recent launch of Tulu
Kapi's full development was smooth, effective and wholeheartedly supported by
all stakeholders. We thank all attendees at the ground-breaking ceremony on 18
February 2026, led by His Excellency Ethiopian Prime Minister Dr Abiy Ahmed
and Oromia Regional President Shimelis Abdisa. We highlight also the critical
support of our Tulu Kapi community, our co-bankers - leading African banks TDB
and AFC and our principal contractors - African mining industry specialists
Lycopodium and BCM.

 

Upon today's resolutions being approved by our shareholders, we will have
completed the assembly of a powerful financial structure for Tulu Kapi's
development by having the commitments of leading African development banks and
now a number of shareholders who are themselves multi-billion-dollar financial
institutions. That will round off our corporate structure appropriately for
what has just been officially classified in Ethiopia as a Strategic Priority
Project.

 

KEFI's leadership team is well-experienced at such start-ups and has been
deeply embedded in Ethiopia for over a decade, which has prepared us well for
project execution. We greatly look forward to the start-up of Tulu Kapi
production by mid-2028 and its potential wealth-generation for all
stakeholders, noting that at US$3,000-5,000/oz gold, average EBITDA in the
first three production years is estimated at £264-520 million (US$355-697
million).

 

We also aspire to having initiated early-stage progress on identifying the
second and third potential Tulu Kapi's in Ethiopia. We see parts of Ethiopia
as being analogous to the gold rich parts of Western Australia which has
emerged in recent decades as a global minerals powerhouse.

 

We will also progress our exciting critical materials portfolio in both
Ethiopia and Saudi Arabia and in a manner which does not divert management or
capital from our number one priority: Tulu Kapi.

 

We have an exciting chapter ahead which our great team has been looking
forward to. Once again, welcome to our new shareholders and thank you to our
longstanding shareholders. We look forward to providing regular progress
reports as everything progresses."

 

Enquiries

 

 KEFI Gold and Copper plc
 Harry Anagnostaras-Adams (Executive Chairman)       Tel: +357 2225 6161
 John Leach (Finance Director)
 SP Angel Corporate Finance LLP (Nominated Adviser)  Tel: +44 20 3470 0470
 Caroline Rowe / Adam Cowl
 Stifel Nicolaus Europe Limited (Joint Bookrunner)   Tel: +44 20 7710 7600

 Ashton Clanfield / Varun Talwar

 Tavira Financial Limited (Joint Bookrunner)         Tel: +44 20 7100 5100
 Oliver Stansfield / Jonathan Evans
 IFC Advisory Ltd (Financial PR and IR)              Tel: +44 20 3934 6632
 Tim Metcalfe / Florence Staton

 

Further information can be viewed at https://www.kefi-goldandcopper.com
(https://www.kefi-goldandcopper.com/)

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