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KEFI Minerals
(LSE:KEFI)
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Rating:44Neutral
Price Target:
1.00 p
▼(-24.81% Downside)
Action:Reiterated
Date:06/11/26
The score is held down primarily by weak financial performance (no revenue, larger 2025 loss, and accelerating cash burn). Technicals add additional risk with a clear downtrend and negative momentum, only partially offset by oversold readings. Valuation provides limited support due to negative earnings and no dividend data.
Positive Factors
Balance-sheet strength
Reported low leverage and a materially larger equity base provide enduring financial flexibility to fund exploration, studies and early development activity. A stronger balance sheet reduces near-term solvency risk, helps secure project finance, and supports absorbing timing setbacks without immediate distress.
Negative Factors
No revenue and persistent losses
The absence of operating revenue and a sizeable 2025 loss mean the company cannot self-fund development or demonstrate operational returns. Persistent losses erode shareholder value, leave ROE negative, and make progress contingent on successful project de-risking or continued external capital rather than internal cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Reported low leverage and a materially larger equity base provide enduring financial flexibility to fund exploration, studies and early development activity. A stronger balance sheet reduces near-term solvency risk, helps secure project finance, and supports absorbing timing setbacks without immediate distress.
Read all positive factors
KEFI Minerals (KEFI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£139.10M
Dividend YieldN/A
Average Volume (3M)99.22M
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees56
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding13,772,019,000
10 Day Avg. Volume36,294,659
30 Day Avg. Volume99,220,217
Financial Highlights & Ratios
PEG Ratio-0.54
Price to Book (P/B)2.14
Price to Sales (P/S)0.00
P/FCF Ratio-7.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)N/A
KEFI Minerals Business Overview & Revenue Model
Company Description
KEFI Gold and Copper Plc engages in the exploration and development of gold and copper deposits in the Kingdom of Saudi Arabia and Ethiopia. The company also explores for zinc and silver deposits, as well as precious and base metals. Its flagship ...
How the Company Makes Money
KEFI’s business model is to create value by acquiring/holding mineral rights, delineating resources through exploration, and progressing projects through studies, permitting, and financing toward development and potential production. However, spec...
KEFI Minerals Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
54
Neutral
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -13.00K | -260.00 | -29.00K | -24.00K | -17.00K |
| EBITDA | -7.09M | -6.51K | -3.69M | -3.01M | -3.07M |
| Net Income | -9.69M | -5.23K | -7.90M | -6.36M | -4.92M |
Balance Sheet | |||||
| Total Assets | 64.36M | 39.10M | 35.54M | 32.16M | 29.11M |
| Cash, Cash Equivalents and Short-Term Investments | 8.77M | 185.00K | 192.00K | 220.00K | 374.00K |
| Total Debt | 175.00K | 739.00K | 2.21M | 1.29M | 1.33M |
| Total Liabilities | 7.16M | 6.45M | 9.42M | 5.18M | 6.79M |
| Stockholders Equity | 54.79M | 30.74M | 24.41M | 25.42M | 20.94M |
Cash Flow | |||||
| Free Cash Flow | -15.09M | -6.79M | -4.32M | -6.72M | -4.00M |
| Operating Cash Flow | -10.01M | -2.75M | -1.86M | -3.16M | -1.45M |
| Investing Cash Flow | -5.08M | -4.03M | -3.26M | -5.25M | -3.01M |
| Financing Cash Flow | 23.68M | 6.78M | 5.09M | 8.23M | 3.54M |
KEFI Minerals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | £213.66M | 4.28 | 40.37% | ― | 67.11% | 91.17% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | £17.38M | -23.37 | -17.24% | ― | ― | -100.00% | |
51 Neutral | £54.62M | -23.73 | -32.61% | ― | ― | 6.19% | |
48 Neutral | £63.14M | -36.98 | -4.66% | ― | ― | -15.00% | |
46 Neutral | £43.05M | -2.67 | -28.28% | ― | ― | -458.82% | |
44 Neutral | £139.10M | -8.42 | -20.68% | ― | ― | ― |
* Basic Materials Sector Average
GB:KEFI
KEFI Minerals
1.01
0.44
77.50%
GB:AAU
Ariana Resources
1.60
-0.13
-7.25%
GB:SRB
Serabi Gold
280.00
94.84
51.22%
GB:ORR
Oriole Resources PLC
0.36
0.11
47.92%
GB:CORA
Cora Gold
8.25
2.00
32.00%
GB:PAT
Panthera Resources Plc
21.00
7.50
55.56%
KEFI Minerals Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
KEFI pushes ahead with Tulu Kapi build as Saudi portfolio gains lift
Positive
Jun 8, 2026
KEFI reported its 2025 results alongside confirmation that flagship gold project Tulu Kapi in Ethiopia has moved from planning to execution, supported by a financing package exceeding $400 million and preserving an expected 86% beneficial interest...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
KEFI Gold and Copper Sets June AGM and Timetable for 2025 Results
Neutral
Jun 5, 2026
KEFI Gold and Copper has scheduled its Annual General Meeting for 30 June 2026 at a London venue, where shareholders will be able to review governance matters and engage with the board. The company will shortly post the AGM circular and proxy form...
Regulatory Filings and Compliance
KEFI Gold and Copper Confirms Total Voting Rights After Share Capital Update
Neutral
May 29, 2026
KEFI Gold and Copper has confirmed that its total issued share capital stands at 13,759,618,660 ordinary shares of 0.1 pence each with full voting rights. The company holds no shares in treasury, meaning the entire issued share count constitutes t...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
KEFI Strengthens Tulu Kapi Funding as It Prepares London Main Market Move
Positive
May 26, 2026
KEFI Gold and Copper has appointed Stifel Nicolaus Europe as financial adviser and joint broker, with Stifel also set to act as sponsor for the company’s planned migration to the Main Market of the London Stock Exchange in 2027. The move sig...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
KEFI Gold and Copper Awards Management Options and Issues New Shares
Neutral
May 5, 2026
KEFI Gold and Copper has granted 649,779,900 share options, representing about 4.74% of its issued share capital, to its senior leadership team under a revamped option scheme aimed at aligning management incentives with shareholder value as the Tu...
Regulatory Filings and Compliance
KEFI Gold and Copper Confirms Total Voting Rights
Neutral
Apr 30, 2026
KEFI Gold and Copper has confirmed that its total issued share capital now comprises 13,715,174,216 ordinary shares of 0.1 pence each, all of which carry voting rights and none of which are held in treasury. This disclosure clarifies the company&#...
Business Operations and StrategyExecutive/Board Changes
KEFI Steps Up Saudi Expansion as Jibal Qutman Nears Key Decision and Hawiah Grows
Positive
Apr 30, 2026
KEFI Gold and Copper has reported significant progress across its Saudi Arabian portfolio, highlighting the near-completion of the Definitive Feasibility Study for the Jibal Qutman gold project and the lodging of a mining licence application ahead...
Private Placements and FinancingShareholder Meetings
KEFI shareholders back share issue as enlarged capital readied for AIM
Positive
Apr 14, 2026
KEFI Gold and Copper has secured shareholder approval at its latest general meeting for resolutions empowering directors to allot new shares and disapply pre-emption rights. The vote clears the way for the issue of 2,375,194,769 new placing, subsc...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
KEFI Secures Funding and Launches Tulu Kapi Gold Development in Ethiopia
Positive
Apr 14, 2026
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 ...
Business Operations and StrategyPrivate Placements and Financing
KEFI updates Tulu Kapi funding profile and schedules investor briefing
Positive
Apr 7, 2026
KEFI Gold and Copper has published an updated corporate presentation on its website, reflecting the finalised capital structure for the Tulu Kapi Gold Project following a recent £34 million institutional placing and £0.9 million retail o...
Regulatory Filings and Compliance
KEFI Gold and Copper Confirms Total Voting Rights After Share Capital Update
Neutral
Mar 31, 2026
KEFI Gold and Copper has confirmed that its total issued share capital now comprises 11,339,979,447 ordinary shares of 0.1 pence each, all of which carry voting rights and none of which are held in treasury. This disclosure sets the official total...
Business Operations and StrategyShareholder Meetings
KEFI Gold and Copper Sets April General Meeting and Investor Presentation
Positive
Mar 26, 2026
KEFI Gold and Copper has published a circular containing a notice of general meeting and proxy form, which will be sent to shareholders and made available on its website, with the meeting scheduled for 14 April 2026 in Sydney, Australia. The compa...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
KEFI Gold and Copper Secures £35.6m in Conditional Fundraising
Neutral
Mar 24, 2026
KEFI Gold and Copper has completed the RetailBook element of its latest equity fundraising, conditionally securing about £941,574 through the issue of 78,464,474 new shares at 1.2 pence each. Together with the previously announced firm and co...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Kefi Gold and Copper Secures £34m in Oversubscribed Placing to Fund Tulu Kapi
Positive
Mar 20, 2026
Kefi Gold and Copper has raised £34 million via an oversubscribed placing of 2.81 billion new shares at 1.2 pence each, a 15% discount to the prior close, and is running a retail offer of up to £1 million alongside a share-based subscrip...
Business Operations and StrategyPrivate Placements and Financing
Kefi launches RetailBook share offer to help complete Tulu Kapi funding
Positive
Mar 19, 2026
Kefi Gold and Copper has launched a conditional retail offer of new ordinary shares via RetailBook at 1.2 pence per share, open to existing shareholders and new UK-based investors through participating brokers and platforms, with a minimum subscri...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and FinancingShareholder Meetings
KEFI launches £34m equity raise to complete Tulu Kapi funding and expand exploration
Positive
Mar 19, 2026
KEFI Gold and Copper plans to raise about £34 million through an institutional placing at 1.2 pence per share, alongside a retail offer of up to £1 million and the issue of shares to service providers to settle £853,000 of fees. The...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.