Kefi Minerals losses widen on higher costs

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Gold exploration and development company Kefi Minerals reported wider losses on rising costs.

For the year ended 31 December 2019, pre-tax losses widened to £5.6m from £5m on-year

Looking ahead, the company said it would continue to progress its plan to drill the Tulu Kapi mine - located in Ethiopia - in 2021.

'During construction, we will appoint the plant and mine managers and they will continue to refine the 2020 Tulu Kapi Plan in light of 2021 grade-control drilling in the first mining zones and we will review the cut-off grade which was based on what now appears to be an overly conservative gold price of US$1,098/oz,' the company said.

At 9:54am: (LON:KEFI) KEFI Minerals PLC share price was -0.14p at 0.85p


Related content

KEFI Gold and Copper 'not aware' of any breach of licence conditions amid reports of Ethiopia mining licences cancellations

Mining and exploration company KEFI Gold and Copper said it was not aware of any breach of any licence conditions amid press speculation the company...

Mon, 17/05/2021 - 10:15


Kefi Gold and Copper completes phase 3 of Hawiah Project; increase in copper grade 'encouraging'

Mining company Kefi Gold and Copper has provided an update on its 34%-owned and operated Hawiah Project in Saudi Arabia following completion of the phase...

Tue, 13/04/2021 - 14:27


KEFI's £3m equity placing oversubscribed

Gold exploration and development company KEFI said its 186 million equity placing to raise gross proceeds of £2.976 million was oversubscribed.

The placing price...

Mon, 16/11/2020 - 09:17


Kefi Gold and Copper unveils maiden resource estimated for Hawaih project

Mining company Kefi Gold and Copper said a maiden resource estimate for the Hawiah project in Saudi Arabia demonstrated its significant scale and quality.

The...

Wed, 19/08/2020 - 09:16


Kefi minerals says financing plans remain on schedule for Tulu Kapi gold project

Gold exploration and development company KEFI Minerals said plans remain on schedule it secure finance for its Tulu Kapi gold project in Ethiopia by October...

Fri, 19/06/2020 - 10:10