Core Viewpoint - KEFI Gold and Copper PLC has successfully closed its full US$340 million project financing, with a US$20 million investment from Chancery Royalty, marking a confirmatory milestone rather than a strategic shift [1] Financing Structure - Bank approvals obtained in October cover 70% of the development capital, allowing the company to optimize remaining equity components [1] - The financing is structured largely at the subsidiary level, which minimizes dilution at the parent company [1] - The US$20 million funding is arranged as an "equity ranking royalty," ensuring payments are made only when dividends are payable to shareholders, aligning with shareholder interests [1] Project Valuation - The project is valued at approximately US$400 million, financed in a way that minimizes equity dilution, including contractor arrangements that reduced capital requirements to US$340 million [1] - A major development bank is participating with US$240 million in financing [1] - The stock has tripled over the past six months, with further potential upside suggested by benchmarking against similar-stage gold companies [1] Operational Updates - At the Mining Indaba in Cape Town, KEFI is engaging with contractors, capital providers, insurers, and government representatives as mobilization begins [1] - The company has initiated full project launch activities across site locations and contractor hubs globally [1]