KEFI Gold and Copper PLC executive chairman Harry Anagnostaras-Adams talked with Proactive's Stephen Gunnion about the latest financing progress for the Tulu Kapi Gold Project in Ethiopia. The company has secured commitments from senior lenders, covering two-thirds of the development capital, and is now focused on aligning equity financing to finalise the deal.
Anagnostaras-Adams discussed KEFI’s efforts to "Ethiopianise" the project, involving local institutional investors through EthioBonds—an investment designed to hedge against currency devaluation. He confirmed that $30 million in expressions of interest have been received, with preparations underway for a listing on Ethiopia’s new stock exchange.
With gold prices nearing $3,000 per ounce, Anagnostaras-Adams highlighted the strong project economics, noting that Tulu Kapi’s first-year production of 160,000oz could generate over $400 million in revenue. He emphasised that free cash flow from early production could potentially repay KEFI’s debt.
Stay tuned for more updates on KEFI Gold and Copper’s developments. Don’t forget to like this video, subscribe to our channel, and turn on notifications for the latest mining and investment insights.
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