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KEFI Minerals ( (GB:KEFI) ) has issued an update.
KEFI Gold and Copper told investors at its general meeting that, subject to shareholder approval of the resolutions, it has now financed and launched the start-up of the Tulu Kapi gold project in Ethiopia, which it describes as potentially one of Africa’s highest-grade, highest-recovery and highest-margin gold developments. The company highlighted strong backing from new and existing shareholders, African development banks TDB and AFC, and key contractors Lycopodium and BCM, noting that the project has been officially classified in Ethiopia as a Strategic Priority Project.
Management said the long-planned development is expected to lead to first production by mid-2028, with estimated average EBITDA of £264 million to £520 million in the first three years of output at a gold price range of US$3,000 to US$5,000 per ounce. KEFI also flagged its intention to identify further Tulu Kapi-style prospects in Ethiopia and to advance its critical materials portfolio in Ethiopia and Saudi Arabia, while maintaining Tulu Kapi as its top priority and signalling a potentially transformative period for the company and its stakeholders.
Spark’s Take on KEFI Stock
According to Spark, TipRanks’ AI Analyst, KEFI is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn). Technical indicators are a relative positive with price above key moving averages and a positive MACD, but valuation remains challenged due to negative earnings and no stated dividend yield.
To see Spark’s full report on KEFI stock, click here.
More about KEFI Minerals
KEFI Gold and Copper plc is a mineral exploration and development company focused on gold and copper projects in Ethiopia and Saudi Arabia. The AIM-listed group is advancing the Tulu Kapi gold project in Ethiopia, which has been designated a Strategic Priority Project, while also progressing a portfolio of critical materials assets across both countries.
Average Trading Volume: 119,681,332
Technical Sentiment Signal: Buy
Current Market Cap: £165.6M
See more data about KEFI stock on TipRanks’ Stock Analysis page.