Source - Alliance News

Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold and copper explorer and developer - Posts a pretax loss of £6.4 million in 2022, widening from £4.9 million in 2021. Widened loss comes as company records a £2.8 million loss from a jointly controlled entity, compared to no such loss the year prior. Records no revenue, unchanged from a year prior. Notes that working environment in Ethiopia and Saudi Arabia ‘transformed for the better’ during the year. ‘We now enjoy highly supportive mine-regulatory working environments in both countries which are also prioritising projects like ours across all the relevant Government agencies. Given that we have three advancing potential development projects in these jurisdictions, the company is now in a much better risk/return position than it has ever been,’ the company says.

Current stock price: 0.66 pence

12-month change: down 12%

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