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Kefi Gold & Copper – company and government formally launch Tulu Kapi project & a share issue, still Strong Buy

By HotStockRockets | Tuesday 21 May 2024


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


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.
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