Aim-listed Kefi Minerals, with projects in Ethiopia and Saudi Arabia, is targeting a number of major milestones this year.
Reporting on its activities for the quarter ended June 30, on Wednesday, the company highlighted that it was targeting an updated independent assessment of security and community and local administration readiness at the Tulu Kapi project, in Ethiopia.
Several security incidents were reported in June, including some elsewhere in the country and also a minor robbery and fire at Tulu Kapi which led to the theft of some exploration equipment and damage to some drill core.
While the Tulu Kapi incident caused minor financial loss and no loss of data, it necessitated the activation of strong measures and checks at site before the restart of community resettlement activities.
The updated independent security report is expected to be completed in August following on from the authorities' rapid and firm response to Kefi's requests for extra security protection and extra local administrative capacity before resettlement starts.
Kefi said it remained confident that the evaluation would not be markedly different to similar previous independent assessments and that the project equity closings could complete this quarter, with the overall project timeline to remain unaffected.
Production is expected to start in mid-2021.
In the months ahead, the company plans to start and complete community resettlements; start construction contracts for offsite infrastructure, such as roads and power; and subsequently mobilise to field for construction.
The company is further planning to start updating the front-end engineering and design for on-site infrastructure and to finalise compliance procedures for the implementation of project infrastructure finance.
Kefi will also seek to mobilise contractors on site for bulk earthworks.
In Saudi Arabia, Kefi intends to complete satellite multispectral and ground geophysical surveys at the Hawiah exploration project. This will be followed by scout drilling of a large copper/gold target.