KEFI readies for ground breaking at Tulu Kapi as final piece of funding sealed

Core Viewpoint - KEFI Gold and Copper PLC has successfully secured a US$20 million equity-ranking gold royalty, completing the US$340 million financing package for its Tulu Kapi Gold Project in Ethiopia [1][2]. Financing Details - The newly structured royalty is designed to rank on an equity-risk basis and will be paid alongside shareholder distributions at the local subsidiary, Tulu Kapi Gold Mines (TKGM) [2]. - An additional US$30 million of equity-risk capital is anticipated to be finalized this month, which includes US$10 million in development costs to be settled in KEFI shares and US$20 million in additional equity-ranking royalties to other investors [3]. Project Development - With the financing package effectively secured, KEFI is mobilizing field teams and contractors, and is organizing a ground-breaking ceremony for the Tulu Kapi project this month [2]. - Key contractual arrangements are being finalized or targeted for completion by the end of February 2026, which includes offsite infrastructure works, resettlement housing, a full construction documentation package with Lycopodium, and a mining services agreement with BCM [4]. Market Reaction - Following the announcement, KEFI's stock increased by 5.2%, trading at 1.57p in London [5].