• Status: Developer
  • Primary Mineral: Gold
  • Primary Country:
Company Profile

KEFI Gold and Copper is an active developer and explorer of Gold and Copper projects in the Highly prospective Arabian Nubian Shield, in both Ethiopia and Saudi Arabia.
It's assets comprise:
1: High quality, high grade and shovel ready gold project – KEFI’s flagship project, Tulu Kapi, in Ethiopia, is a fully permitted, shovel ready project now in the final throes of completing a significant financing package, with initial site preparation expected to begin as early as September 2023.

2: Tulu Kapi has reserves of 1.05 million ounces and mineral resources totalling 1.7 million ounces. Planned gold production at Tulu Kapi is forecast to start as140,000oz per year from the open pit at an AISC of US$970/oz over the initial 8 years of mining the open pit. With an average reserve grade of 2.1g/t, it is one of the highest grade undeveloped open pit gold projects in Africa.

Finance package almost complete –

3:The project capex is scheduled at USD320m, which will be funded by a syndicate of lenders (USD245m), contractors and regional equity investors including the Ethiopian Government itself at both the Federal and the Regional levels.

4:Strong regional position in the Arabian-Nubian Shield area – The geology of the Arabian-Nubian Shield is increasingly becoming recognized as one of the best under-explored regions of the world for gold and other metals. Other mines in the region include Centamin’s Sukari gold mine, privately owned Lege Dembi, the Bisha polymetallic VMS mine, the Mhad Adh Dhahab gold mine and Jabal Sayid copper mine in Saudi Arabia. Ivanhoe, Barrick and Newmont have enterred the shield.

5: As well as owning one of the best gold projects in Africa, KEFI also has stakes in the Jibal Qutman Gold Project (0.7moz total resource to date) and the Hawiah Copper-Zinc Project (29Mt @ 0.9% Cu, 0.9% Zn, 0.7g/t Au; Project NPV8 of US$301 million and post-tax IRR of 75%) in Saudi Arabia, both being advanced towards development. Meanwhile, KEFI is also exploring a large portfolio of Exploration Licenses in Saudi Arabia and has plans to expand in other parts of the shield.

6: Attractive valuation – Market cap is ~USD36m. Gold reserves at Tulu Kapi alone are 1.05m oz and attributable company-wide gold equivalent resources total 2.3moz. Bearing in mind that Tulu Kapi is permitted and ready for construction, with bankable feasibility study, and given expected low operating costs, the potential upside, on valuation considerations, is substantial.

Website for more information : www.kefi-goldandcopper.com

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