UK 03:43 Thursday, 15 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
I am plagued by a couple of demented shareholders demanding to know exactly what Harry Adams of Kefi Gold & Copper (KEFI) said at Sharestock on Saturday. I suppose one might start by asking what exactly he could say?
Kefi Gold & Copper (KEFI) has issued an announcement including that “early works” at the Tulu Kapi gold project in Ethiopia are ramping up with site activities made possible over the past two months with the deployment of large safety-protection forces and that a site visit has been prepared so that the second co-lender may proceed with its final credit approval “during the next month”. The potential value from a current 0.60p offer price, £36.4 million market cap, here is highlighted with at the current gold price around “$2,500 per ounce, the first full year net cash flow from Tulu Kapi operations is estimated at US$196 million (£154 million), which is estimated as being more than sufficient to then be able to prepay all debt”.
Kefi Gold & Copper (KEFI) has issued a “Saudi Arabia Operational Update” announcement including noting much upcoming news flow adding to “remain on track” its currently most-advanced, Tulu Kapi, project in Ethiopia.
Kefi Gold & Copper (KEFI) has issued a “Tulu Kapi Update” announcement which sees the shares currently at 0.615p. We understand the update was in response to an article in the Ethiopian press questioning project finance and, thus, the project’s progress and, reassuring on those, it suggests that there is now significant upside potential really very imminently.
Kefi Gold & Copper (KEFI) has issued a progress update in conjunction with its AGM in Ethiopia as there are also meetings with its financing and government partners for the Tulu Kapi gold project in the country. This “AGM Statement” provides further confidence from a 0.675p share price, not far above £40 million market capitalisation.
Kefi Gold & Copper (KEFI) has issued a “Tulu Kapi Update”-titled announcement commencing that “excellent progress is being made with the intense Early Works programme following project launch in May 2024 to take Tulu Kapi through to September”. How good is the news overall and is it factored into a 0.625p share price?
Shareholders in Kefi Gold & copper (KEFI) should today be organizing the erection of a statue of my good self at the proposed Tulu Kapi gold mine for, solely as a result of my efforts, described HERE, the Company’s new bonus scheme has been changed. At the very least they should each be sending a bottle of Metaxa to Sheriff Towers.
Kefi Gold & Copper (KEFI) has announced results for the 2023 calendar year and that its focus is now on successfully completing “early works” at the Tulu Kapi project so that it can close the $320 million project finance package and launch “major works” in October.
Clearly whatever Kefi Gold & Copper (KEFI) says will not satisfy some obsessives such as our own in-house comments section psychopath Magna Carta. I hope he has taken his meds today. I have been pushing Harry Adams to clarify where he is on bank support .
Kefi Gold & Copper (KEFI) has announced Tulu Kapi gold project formal launch with Ethiopia governmental approvals, though now following with the issue of 177 million shares to pay fees for mining advisors at 0.736p each. The dilution here is a pain but minimal following the good news on Tulu Kapi project “deployment of dedicated site policing and the conditional confirmations that quickly ensued from all members of the project's finance syndicate”. This formal launch enables proceeding to complete “Early Works” and satisfy all conditions precedent to drawdown full project finance to enable “Major Works” to commence from October.
Kefi Gold & Copper (KEFI) shares are up to currently a 0.725p offer price following a latest “Quarterly Operational Update” and investment research on the company, and with there much further upside looking to be on the way. 1p by mid-June is still on the cards.
This report from Orior was commissioned by Kefi Gold & Copper (KEFI) so take it with a pinch of salt. as it happens the numbers it arrives at are not that different from my own but I am a shareholder so take my numbers with a pinch of salt. But what you will not argue with, unless you are a loon like our in house obsessive fantastist Magna Carta, is that the upside at 0.724p is just massive. The shares really are a STRONG BUY.
Kefi Gold & Copper (KEFI) has announced on Tulu Kapi gold project financing that, with the syndicate parties it is awaiting approvals from, “commitments and independent checks have allowed the syndicate parties to advance their processes and remain on track for completing final approvals this month”, with also the company now targeting an elevated beneficial project interest of 80%. This is good news from a 0.545p share price and, although now up to 0.60p, there looks much further to go in the weeks ahead.
I expect that the usual suspects will give me grief for airing this and it is with the PR hookers of Proactive so the questions are not tough. What Adams says about cashflows from Tulu Kapi at current gold prices is great but the issue is whether he will have funding secured in the next few weeks as promised. If its yes the shares roof it, if its no they will fall. I still think it will be yes.
