Source - Alliance News

Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - For the Jibal Qutman project in Saudi Arabia, land access issues halting the mine development application in 2016 have been resolved, paving the way for a potential mining licence being granted.

Due to stronger gold prices, company is now adjusting definitive feasibility study to focus on recovering 500,000 ounces of gold, instead of 200,000 ounces. The DFS is scheduled to be completed by the fourth quarter of 2022.

‘We are extremely excited to announce the positive conclusion of the land access issue which has delayed the development of the Jibal Qutman project since 2016. The company is very grateful for the support of the Ministry of Industry and Mineral Resources in these matters, who have gone to great lengths to secure this ground on behalf of the company,’ said Executive Chair Harry Anagnostaras-Adams.

Current stock price: 0.59 pence

12-month change: down 68%

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