KEFI Gold and Copper PLC's (AIM:KEFI, OTC:KFFLF, FRA:KMSA) executive chairman Harry Anagnostaras-Adams talked with Proactive's Stephen Gunnion about recent developments at the company’s flagship Tulu Kapi gold project in Ethiopia and its growing presence in Saudi Arabia.
Anagnostaras-Adams confirmed that while the $240 million debt facility was approved in October, formal documentation has now been signed, a step he described as significant for less-experienced investors.
“To me, it was done last October… but there’s probably a lot of shareholders out there who thought, well, now it’s done,” he said, explaining the need for transparent and staged communication.
He discussed the sequencing of financing, noting that securing debt before equity allowed for better terms and flexibility: “We convinced our banks to commit first… to bring more choices to the table at better pricing.”
On the ground at Tulu Kapi, early infrastructure works are underway, including electricity connections and access roads, with bulk earthworks to follow resettlement. Fabrication of plant components is taking place offsite, and the project remains on track for mining to begin in 2027.
Regarding Saudi Arabia, Anagnostaras-Adams highlighted the strong investment interest and hinted at new joint venture developments: “Another major is coming to be part of all of this.”
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