Kefi Minerals has a ‘very good’ year, upbeat about 2017 project advancement
JOHANNESBURG (miningweekly.com) – Gold exploration and development company Kefi Minerals has had a “very good” 12 months in which it has made solid progress towards becoming a gold production company, said Kefi executive chairperson Harry Anagnostaras-Adams on Tuesday.
“The calm and prodevelopment situation in Ethiopia, combined with the financing proposals being considered by the company, makes the board confident that our Tulu Kapi gold project will start development in 2017,” he stated.
Anagnostaras-Adams said that despite the Ethiopian government declaring a six-month state of emergency in October, the Tulu Kapi funding process remained ongoing with a predominant focus on those potential financiers who are “unfazed” by the geopolitical context, being well-established in the region themselves.
Nonetheless, he noted that Kefi had reduced its spending rate and its directors’ aggregate remuneration for the quarter would be paid in shares, as was in effect the case for financial years 2014 and 2015 when share placing participation by the directors totalled 98% of aggregate cash-based remuneration.
Anagnostaras-Adams commented that Kefi had also received formal confirmation that its refund is currently due for payment for the equivalent of £2.5-million from the Ethiopian tax authorities, having completed repayment of the inherited reverse value-added tax liability within the agreed three-year schedule to December.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation