TIDMKEFI
RNS Number : 1499C
Kefi Gold and Copper PLC
17 June 2021
17 June 2021
KEFI Gold and Copper plc
("KEFI" or the "Company")
Changes to AGM Arrangements
and
Quarterly Webinar
KEFI (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, announces an
update on the arrangements for the Company's Annual General Meeting
to be held at 10.00am on Wednesday 30 June 2021 at Marlin Waterloo,
Lower Ground Floor, 111 Westminster Bridge Road, Waterloo, SE1 7HR,
United Kingdom (the "AGM").
Following the UK Government's announcement of a four week
extension to Step 3 of the gradual easing of public health
restrictions across England in line with the government's "COVID-19
Response - Spring 2021" roadmap, and in the interests of the safety
of our shareholders and stakeholders, the AGM will now be held as a
closed meeting and shareholders will not be permitted to attend the
meeting. The Company will make arrangements such that two specified
shareholders, being officers of the Company, will be present at the
AGM to ensure that the meeting is quorate, observing the relevant
social distancing guidelines in place on the date of the
meeting.
The Board recognises the importance of the Company's AGM to
shareholders. Given the current restrictions on attendance,
shareholders are encouraged to appoint the chair of the meeting as
their proxy and to give their instructions on how they wish the
chair to vote on the proposed resolutions. Details on how to submit
proxies are set out in the AGM Notice available on the Company's
website at: https://www.kefi-minerals.com/news/notices
Quarterly Webinar
The Company's Executive Chairman, Harry Anagnostaras-Adams, will
be hosting the Company's quarterly shareholder webinar at 2pm BST
on Monday 21 June 2021. The webinar can be accessed via the link
below:
https://webcasting.brrmedia.co.uk/broadcast/60c9e57649ccf90ed92104ba
Shareholders are encouraged to submit questions by emailing:
questions@brrmedia.co.uk
The webinar will subsequently be available on the Company's
website at:
http://www.kefi-minerals.com/news/webcasts
Enquiries
KEFI Gold and Copper plc
Harry Anagnostaras-Adams (Executive Chairman) +357 99457843
John Leach (Finance Director) +357 99208130
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Jeff Keating, Adam Cowl
Brandon Hill Capital Ltd (Joint Broker) +44 (0) 20 7936 5200
Oliver Stansfield, Jonathan Evans
IFC Advisory Ltd (Financial PR and IR) +44 (0) 20 3934 6630
Tim Metcalfe, Florence Chandler
Notes to Editor
KEFI Gold and Copper plc
KEFI is focused primarily on the advanced Tulu Kapi Gold Project
development project in Ethiopia, along with its pipeline of other
projects within the highly prospective Arabian-Nubian Shield. KEFI
targets that production at Tulu Kapi generates cash flows for
capital repayments, further exploration and expansion as warranted
and, when appropriate, dividends to shareholders.
KEFI in Ethiopia
Ethiopia is currently undergoing a remarkable transformation
both politically and economically.
The Tulu Kapi gold project in western Ethiopia is being
progressed towards development, following a grant of a Mining
Licence in April 2015.
The Company has now refined contractual terms for project
construction and operation, together with assembling the full
funding consortium and set the conditional terms for the
development funding package of c.US$221 million.
Estimates include gold production of c.190,000oz pa. All-in
Sustaining Costs (including operating, sustaining capital and
closure but not including leasing and other financing charges)
remain c. US$800/oz. Tulu Kapi's Ore Reserve estimate totals 15.4Mt
at 2.1g/t gold, containing 1.1Moz.
All aspects of the Tulu Kapi (open pit) gold project have been
reported in compliance with the JORC Code (2012) and subjected to
reviews by appropriate independent experts.
A Preliminary Economic Assessment has been published that
indicates the economic attractiveness of mining the underground
deposit adjacent to the Tulu Kapi open pit, after the start-up of
the open pit and after positive cash flows have begun to repay
project debts. An area of over 1,000 square kilometres adjacent to
Tulu Kapi has been reserved for exploration by KEFI upon
commencement of development, with a view to adding satellite
deposits to development and production plans.
KEFI in the Kingdom of Saudi Arabia
In 2009, KEFI formed Gold & Minerals Limited ("G&M") in
Saudi Arabia with local Saudi partner, ARTAR, to explore for gold
and associated metals in the Arabian-Nubian Shield. KEFI has a 34%
interest in G&M and is the operating partner.
ARTAR, on behalf of G&M, holds over 16 Exploration Licence
(ELA) applications pending the introduction of the new Mining Law.
ELs are renewable for up to three years and bestow the exclusive
right to explore and to obtain a 30-year exploitation (mining)
lease within the area.
The Kingdom of Saudi Arabia has announced policies to encourage
mineral exploration and development, and KEFI Minerals supports
this priority by serving as the technical partner within G&M.
ARTAR also serves this government policy as the major partner in
G&M, which is one of the early movers in the modern resurgence
of the Kingdom's minerals sector.
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