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KEFI boss says formal processes & financing falling into place

Last updated: 09:14 16 May 2016 EDT, First published: 04:14 16 May 2016 EDT

KEFI Minerals (LON:KEFI) Executive Chairman Harry Anagnostaras-Adams tells Proactive Investors it is important to secure financing in a weak part of capital markets cycle for mining projects. "It is important that major cornerstone shareholders stand up first and that the most important cornerstone shareholder for the Tuli Kapi project is the government of Ethiopia" he says. 

Adams says they are continuing to chisel away and refine costs and it is encouraging that the government have come in at the upper end of the financing range. "With costs coming down a bit and the government coming up a bit it is a really big step in the right direction of the financing falling into place" he says.

KEFI Gold and Copper makes progress towards financial close for Tulu Kapi...

KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has made further progress on its Tulu Kapi gold project in Ethiopia, crossing another milestone with the $320 million development budget. Executive chairman Harry Anagnostaras-Adams discussed the complexities of raising substantial funds in a new...

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