KEFI Secures US$340m Financing to Launch Tulu Kapi Gold Project

KEFI Minerals ( (GB:KEFI) ) has provided an announcement.

KEFI Gold and Copper has formally launched the development of its high-grade Tulu Kapi gold project in Ethiopia after assembling a US$340 million financing package comprising US$240 million in long-term project debt and US$100 million in equity-risk capital. The equity component includes US$20 million of Ethiopian government equity in project company TKGM, US$26 million of redeemable preference shares aimed at Ethiopian investors, US$30 million in gold streams, US$10 million of existing KEFI capital, and a new US$20 million equity issue, alongside a retail offer of up to £1 million and broker warrants linked to the placing. The structure is designed to fully fund budgeted development costs, preserve around 83% project ownership for KEFI, broaden local participation, and potentially secure a further US$30 million in non-dilutive funding for exploration and cost overruns. Company projections at gold prices between US$3,000 and US$5,000 per ounce indicate strong economics, with high net cash flows and rapid potential debt repayment, which, if realised, would materially improve KEFI’s cash generation profile and strengthen its strategic position in Ethiopian and Saudi gold development.

More about KEFI Minerals

KEFI Gold and Copper plc is a gold and copper exploration and development company focused on the Arabian-Nubian Shield, with a pipeline of projects in Ethiopia and Saudi Arabia. The company targets high-grade, high-recovery deposits and aims to advance its assets into production through a mix of project finance debt, equity, and partnership structures, while retaining significant project ownership and enabling participation from local investors in its host countries.

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Technical Sentiment Signal: Buy

Current Market Cap: £137.2M

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