TIDMKEFI
Kefi Gold and Copper PLC
25 January 2022
Reach
25 January 2022
KEFI Gold and Copper plc
("KEFI" or the "Company")
Shareholder Forum
2pm, Monday 7 February 2022
KEFI (AIM: KEFI), the gold exploration and development company
with projects in the Federal Democratic Republic of Ethiopia and
the Kingdom of Saudi Arabia, is pleased to provide further details
for the shareholder forum being held at 2pm GMT on Monday 7
February 2022, which will now be conducted virtually via the
Investor Meet Company platform due to certain COVID related travel
restrictions.
The presentation by the KEFI management team will be kept to 30
minutes and will cover three topics: KEFI Gold and Copper plc, Tulu
Kapi Gold Mines in Ethiopia and Gold and Minerals in Saudi Arabia.
This will be followed by 30-minute question and answer session.
Investors can register to attend using the following link:
https://www.investormeetcompany.com/kefi-gold-and-copper-plc/register-investor
Questions can be submitted pre-event via your Investor Meet
Company dashboard up until 9am the day before the meeting, or at
any time during the live presentation. Investors who already follow
KEFI Gold and Copper plc on the Investor Meet Company platform will
automatically be invited.
Should investors wish to meet certain Company representatives in
person from 5pm to 7pm GMT on Monday 7 February 2022, they should
let the Company know via info@kefi-minerals.com. The Company will
then make appropriate arrangements for a venue, which will be near
Waterloo Station, London, depending on the number of investors
expressing interest in attending.
Enquiries
KEFI Gold and Copper plc
Harry Anagnostaras-Adams (Managing Director) +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
Tavira Securities Limited (Joint Broker) +44 (0) 20 7100 5100
Oliver Stansfield, Jonathan Evans
WH Ireland Limited (Joint Broker) +44 (0) 20 7220 1666
Adrian Hadden, Andrew de Andrade
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 development of the Tulu Kapi
Gold Project in Ethiopia and its pipeline of highly prospective
exploration projects in the Arabian-Nubian Shield. KEFI targets
that production at Tulu Kapi will generate cash flows for capital
repayments, further exploration and dividends to shareholders.
The following tabular summary presents KEFI's estimated share of
the project NPV's :
Pence
Tulu Kapi Hawiah Jibal Qutman Total Issued Per
NPV NPV NPV NPV Shares Share
----------- -------- -------------- -------- ------------ ------
Net Present Value
for KEFI
----------- -------- -------------- -------- ------------ ------
GBP114 GBP114
30 June 20 mill N.A N.A mill 1,867 mill 6
----------- -------- -------------- -------- ------------ ------
GBP164 GBP80 GBP244
31 December 20 mill mill N.A mill 1,876 mill 13
----------- -------- -------------- -------- ------------ ------
GBP191 GBP80 GBP271
30 June 21 mill mill N.A mill 2,159 mill 13
----------- -------- -------------- -------- ------------ ------
GBP191 GBP124 GBP348
10 January 22 mill mill GBP33 mill mill 2,939 mill 12
----------- -------- -------------- -------- ------------ ------
Footnotes:
Gold Price is US$1,830/oz
Copper Price is: Assumed exchange rate was rate
US$9,750/t US$1.35:GBP1.00.
Zinc Price is US$3,590/t
Silver Price is
US$23/oz
Explanatory Notes:
NPV is derived by KEFI using independently created financial models
of net cash flows after tax and debt service, using a discount rate
of 8%.
Tulu Kapi open pit model is based on the Definitive Feasibility
Study ("DFS") as updated for any refinements during project contracting;
Tulu Kapi underground mine model is based on the
Preliminary Economic Assessment ("PEA");
Hawiah at this stage assumes preliminary mine modelling for open
pit and underground because the MRE has only recently been updated;
KEFI Gold and Copper 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. Estimates include open pit gold
production of c. 140,000oz pa for a 7-year period. 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's wholly-owned
Ethiopian subsidiaries upon commencement of development by TKGM,
with a view to adding satellite deposits to development and
production plans.
KEFI Gold and Copper 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
31.2% interest in G&M and is the operating partner.
ARTAR, on behalf of G&M, and G&M directly hold over 16
Exploration Licence (EL) applications pending the introduction of
the new Mining Law. These new regulations have recently been
proclaimed and G&M now holds 3 EL's. ELs are renewable for up
to three years and bestow the exclusive right to explore and to
obtain a 30-year exploitation (mining) licence within the area.
In addition, G&M has a Mining Licence Application over the
Jibal Qutman Gold Project which recent informal indications by the
authorities provide some confidence that the licence will be
granted in 2022.
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