KEFI Gold and Copper (KEFI): General Meeting Statement

KEFI Gold and Copper

General Meeting Statement | Company Announcement | Investegate Fundraise Welcome About Contact Us Help Home Companies Advanced search Archive UK Short Positions Meetings UK Newswire New Login Register General Meeting Statement Summary by AI BETA Close X KEFI Gold and Copper plc announced at its General Meeting that new shareholders from a recent placing will own approximately 20% of the company, supporting the launch of the Tulu Kapi gold development in Ethiopia. This project, classified as a Strategic Priority Project, is expected to commence production by mid-2028, with estimated average EBITDA in the first three years ranging from £264-520 million (US$355-697 million) at gold prices of US$3,000-5,000/oz. The company also plans to advance its critical materials portfolio in Ethiopia and Saudi Arabia without diverting focus from Tulu Kapi. Disclaimer* Kefi Gold and Copper PLC 14 April 2026 &#160; 14 April 2026 &#160; KEFI Gold and Copper plc &#160; ("KEFI" or the "Company") &#160; General Meeting Statement &#160; KEFI Gold and Copper plc (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is holding a General Meeting ("GM") today at 4.00 p.m. AEST in Australia. At the GM, Harry Anagnostaras-Adams, Executive Chairman of the Company, will make the following statement: &#160; "Welcome to the General Meeting of KEFI Gold and Copper. &#160;Today we have quite a few new shareholders, or about to be shareholders. The participants in the recent placing will own approximately 20% of the Company on a fully diluted basis (taking into account issued shares, issued warrants and also options which will be granted over unissued shares in accordance with KEFI's Incentive Option Scheme). So, welcome aboard to all the new shareholders. You have joined us longstanding shareholders at a particularly important and propitious moment and we appreciate your putting your weight behind us. &#160; Upon today's General Meeting passing the resolutions, we will have financed and launched the start-up of perhaps the highest grade-highest recovery, and therefore highest margin, gold development in Africa. And we are doing it in high-growth Ethiopia. We are also doing so in a period of gold price strength as the world is allocating more of its long-term capital into gold. I believe that the current Middle East war only serves to reinforce this trend. &#160; At KEFI, we have long prepared for this moment and the recent launch of Tulu Kapi's full development was smooth, effective and wholeheartedly supported by all stakeholders. We thank all attendees at the ground-breaking ceremony on 18 February 2026, led by His Excellency Ethiopian Prime Minister Dr Abiy Ahmed and Oromia Regional President Shimelis Abdisa. We highlight also the critical support of our Tulu Kapi community, our co-bankers - leading African banks TDB and AFC and our principal contractors - African mining industry specialists Lycopodium and BCM. &#160; Upon today's resolutions being approved by our shareholders, we will have completed the assembly of a powerful financial structure for Tulu Kapi's development by having the commitments of leading African development banks and now a number of shareholders who are themselves multi-billion-dollar financial institutions. That will round off our corporate structure appropriately for what has just been officially classified in Ethiopia as a Strategic Priority Project. &#160; KEFI's leadership team is well-experienced at such start-ups and has been deeply embedded in Ethiopia for over a decade, which has prepared us well for project execution. We greatly look forward to the start-up of Tulu Kapi production by mid-2028 and its potential wealth-generation for all stakeholders, noting that at US$3,000-5,000/oz gold, average EBITDA in the first three production years is estimated at &#163;264-520 million (US$355-697 million). &#160; We also aspire to having initiated early-stage progress on identifying the second and third potential Tulu Kapi's in Ethiopia. We see parts of Ethiopia as being analogous to the gold rich parts of Western Australia which has emerged in recent decades as a global minerals powerhouse. &#160; We will also progress our exciting critical materials portfolio in both Ethiopia and Saudi Arabia and in a manner which does not divert management or capital from our number one priority: Tulu Kapi. &#160; We have an exciting chapter ahead which our great team has been looking forward to. Once again, welcome to our new shareholders and thank you to our longstanding shareholders. We look forward to providing regular progress reports as everything progresses." &#160; Enquiries &#160; KEFI Gold and Copper plc Harry Anagnostaras-Adams (Executive Chairman) Tel: +357 2225 6161 John Leach (Finance Director) SP Angel Corporate Finance LLP (Nominated Adviser) Tel: +44 20 3470 0470 Caroline Rowe / Adam Cowl Stifel Nicolaus Europe Limited (Joint Bookrunner) Ashton Clanfield / Varun Talwar&#160; &#160; Tavira Financial Limited (Joint Bookrunner) Tel: +44 20 7710 7600 &#160; &#160; Tel: +44 20 7100 5100 Oliver Stansfield / Jonathan Evans IFC Advisory Ltd (Financial PR and IR) Tel: +44 20 3934 6632 Tim Metcalfe / Florence Staton &#160; Further information can be viewed at https://www.kefi-goldandcopper.com This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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