KEFI Secures Key Contracts and Funding Milestones for Ethiopia’s Tulu Kapi Gold Project

KEFI Minerals ( (GB:KEFI) ) just unveiled an announcement.

KEFI Gold and Copper said contractor Lycopodium has been awarded an engineering, supply and labour hire contract for Ethiopia’s Tulu Kapi gold project, confirming that physical development and associated financing are progressing in line with plans for a first gold pour in early 2028 and full production by mid-2028. The company reported that key project agreements, including loan facilities, have been finalised and largely executed, with remaining documents expected within weeks, and that it has commitments for US$310 million of the US$330 million development budget, underscoring strong funding support and momentum toward construction.

KEFI highlighted coordinated progress by major project partners, including Ethiopian Electric Power Company for grid connection, Ethiopian Roads Authority for new access roads, Lycopodium for the process plant and infrastructure, Dashen for resettlement housing, and BCM for bulk earthworks and mining. The near-completion of the interdependent financing and construction package positions Tulu Kapi as moving from planning into implementation, reducing financing risk for stakeholders while reinforcing KEFI’s strategic push to bring the long-planned Ethiopian gold asset into production.

The most recent analyst rating on (GB:KEFI) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on KEFI Minerals stock, see the GB:KEFI Stock Forecast page.

Spark’s Take on GB:KEFI Stock

According to Spark, TipRanks’ AI Analyst, GB: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 GB:KEFI stock, click here.

More about KEFI Minerals

KEFI Gold and Copper plc is a mining and exploration company focused on developing gold and copper projects, notably the Tulu Kapi gold project in Ethiopia through its subsidiary Tulu Kapi Gold Mines S.C. The company works with a consortium of international and local contractors and financiers to build and operate large-scale precious metals operations in emerging markets.

Average Trading Volume: 104,056,306

Technical Sentiment Signal: Buy

Current Market Cap: £172.6M

See more insights into KEFI stock on TipRanks’ Stock Analysis page.