Kefi Minerals further cuts Tulu Kapi funding requirements

Shares in Kefi Minerals are down about 5% as it further cut the funding requirements and finance costs for developing the Tulu Kapi Gold Project in Ethiopia.

FTSE AIM All-Share

728.67

15:45 15/11/24

n/a

KEFI Gold and Copper

0.63p

12:39 15/11/24

4.15%

0.03p

Mining

10,633.77

15:45 15/11/24

1.51%

158.40

The Saudi Arabia- and Ethiopia-facing gold exploration and development firm said it remained on track to execute syndicated financing documentation at the end of third-quarter 2016.

The project's net-funding requirement had been reduced to about $130m, from roughly $145m, due to further refinements to contracting arrangements and plans.