REG - Kefi Gold and Copper - Tulu Kapi Community Resettlement Programme

KEFI Gold and CopperAnnouncement

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RNS Number : 1763R  Kefi Gold and Copper PLC  16 July 2025

16 July 2025

KEFI Gold and Copper plc

 

("KEFI" or the "Company")

 

Commencement of Tulu Kapi Community Resettlement Programme

 

KEFI (AIM: KEFI), a gold and copper exploration and development company
focused on the Arabian-Nubian Shield with a pipeline of projects in the
Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, is
pleased to report that, in light of the successful field preparations for full
launch of the Company's Tulu Kapi Gold Project (the "Project" or "Tulu Kapi"),
the community resettlement programme is being triggered this month, for
payment of compensation for Phase 1 of the Resettlement Action Plan.  This is
being funded from KEFI's existing cash resources following the Company's
recent capital raise and the Company will be reimbursed from the drawdown of
the broader Project funding package.

 

The community resettlement is being implemented in collaboration with the
Ethiopian Government in compliance with World Bank IFC Performance
Standards.  This step is a little ahead of the Project schedule, reflecting
the current drive to launch full development as soon as possible and the
commissioning of gold production in H2 2027.

 

This latest project development was announced at the Investment in Ethiopian
Mining Forum at the Ethiopian Embassy in London, co-hosted with the British
Embassy of Addis Ababa and KEFI, held on the evening of 15 July 2025.  KEFI's
presentation given at this event may be accessed on the Company's website:
https://www.kefi-goldandcopper.com (https://www.kefi-goldandcopper.com)

 

KEFI Executive Chairman, Harry Anagnostaras-Adams, commented: "In mid-2022 the
Project syndicate formally agreed to prepare for Project launch following the
lifting of the Ethiopia State of Emergency earlier that year.  At the time,
we agreed and published three major conditions precedent: installation of
security, exemption from exchange controls and Parliamentary Ratification of
both of our banks.

 

"The last of the three major conditions was met in May 2025.  We are now
pressing forward accordingly and appreciate the support we receive from the
local community and the Government at all levels to complete the remaining
administrative tasks so that we can proceed with all development tasks leading
to commissioning of production in 2027.  We have also recently built the
initial security and construction camps and almost completed a new access
road.

 

"Project finance continues to come together at the subsidiary level in
preparation for all the parties to sign detailed definitive documentation,
targeted for end-August 2025.

 

"At this exciting time for KEFI we have also seen major international gold
investment institutions become KEFI shareholders, including Ruffer Gold,
Konwave/Gold 2000 and Phoenix Gold Fund.  The next few weeks are expected to
deliver more material milestones and enable the full launch of Tulu Kapi. I
look forward to providing further updates as appropriate."

 

Enquiries

 

 KEFI Gold and Copper plc
 Harry Anagnostaras-Adams (Executive Chairman)       +357 2225 6161
 John Leach (Finance Director)
 SP Angel Corporate Finance LLP (Nominated Adviser)  +44 (0) 20 3470 0470
 Jeff Keating, Adam Cowl
 Tavira Financial Limited (Lead Broker)              +44 (0) 20 7100 5100
 Oliver Stansfield, Jonathan Evans
 IFC Advisory Ltd (Financial PR and IR)              +44 (0) 20 3934 6630
 Tim Metcalfe, Florence Staton
 3PPB LLC (North American Institutional IR)
 Patrick Chidley                                     +1 (917) 991 7701
 Paul Durham                                         +1-203-940-2538

 

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