Gold exploration and development company Kefi Gold and Copper updated the market on operations in Ethiopia and Saudi Arabia in its fourth quarter on Monday, reporting that financing for the Tulu Kapi Gold Project in Ethiopia remained on track. The AIM-traded firm said the project finance consortium would reach financial closing in March, and production scheduled for the fourth quarter of 2022. In Saudi Arabia, drilling was still extending the known mineralisation at the Hawiah copper-gold deposit. “Drilling at Hawiah during the quarter has extended the copper-zinc-gold-silver massive sulphide mineralisation and confirmed the potential for a much larger mineral resource. “We welcome the ongoing support and efforts of the Ethiopian government and also the implementation of new mining regulations by the Saudi Arabian government, which underpin our expectation that 2021 will be a year of significant acceleration by Kefi in both countries.”At 1152 GMT, shares in Kefi Gold and Copper were up 2.45% at 1.88p.

Source: Ethiopian News January 25, 2021 16:14 UTC