{"id":128093,"title":"KEFI Shares Surge 28% as $240m Tulu Kapi Financing Nears Completion","publisher":"Share Talk","author":"sharetalk","published":"2025-10-13T14:48:05+00:00","modified":"2025-10-13T14:48:05+00:00","canonical_url":"https://www.share-talk.com/kefi-shares-surge-28-as-240m-tulu-kapi-financing-nears-completion/","markdown_url":"https://www.share-talk.com/kefi-shares-surge-28-as-240m-tulu-kapi-financing-nears-completion.md","json_url":"https://www.share-talk.com/kefi-shares-surge-28-as-240m-tulu-kapi-financing-nears-completion.json","category":"Mining","categories":["Mining"],"tags":["COPPER","Gold","Harry Adams","Hawiah","KEFI","Kefi Gold and Copper","Saudi Arabia"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/05/kefi-keep.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"Shares in **KEFI Gold and Copper PLC** *(AIM: KEFI, OTC: KFFLF)* soared **28%** on Monday after the company announced it expects to finalise a **$240 million debt financing package** for its **Tulu Kapi gold project** in Ethiopia this week.\n\nThe long-anticipated deal — briefly delayed by a procedural issue with one of KEFI’s lending partners — marks a major milestone for the **£340 million development**, one of Ethiopia’s most advanced mining ventures.\n\n**Construction work is already underway** on parts of the site as both equity and debt components of the financing are put in place. KEFI said it maintains **sufficient working capital** and access to **undrawn facilities** to meet its near-term funding needs until completion of the package.\n\nOnce operational, **Tulu Kapi** is expected to produce around **140,000 ounces of gold per year**.\n\nExecutive chairman **Harry Anagnostaras-Adams** said the project’s launch “**continues intensely on all fronts**” and remains on schedule, adding that record gold prices make it “**the perfect time to be launching Tulu Kapi.**”\n\nIn development for several years, the Tulu Kapi project is regarded as a **flagship initiative in Ethiopia’s mining sector revival**. KEFI said it plans to issue a further update once the debt financing is formally completed."}