KEFI Minerals Plc.

Published : August 10th, 2017

Reduced Funding Requirement

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KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to report that the residual funding requirement for the Company�s Tulu Kapi gold project (the �Project�), having been reduced from US$289 million in January 2014 to US$32 million following the Oryx Management Limited (�Oryx�) agreement announced on 17 July 2017, has now been further reduced to US$24 million, based on refinements to planned capital expenditure and contingency provisions.

KEFI is now focusing on sourcing part of this residual requirement from a separate finance facility against ore stockpiles which are estimated to include US$15 million of contained gold at start-up of production and part of the remaining requirement from project-level equity, negotiations for which have commenced. It remains KEFI's preference to retain majority ownership and control of the Project.

KEFI intends to optimise the finance mix in consultation with the Project syndicate, in particular the Government of Ethiopia and principal financier Oryx, as we approach closing targeted for Q4 2017.

Thank you for your interest in KEFI Minerals. This email was sent to .com. If you are no longer interested in receiving these updates, you may

KEFI Minerals Corporate Address
Wisdom Tower, 1st Floor
2 Ayiou Pavlou & Kadmou Street
Nicosia, 1105
Cyprus
www.kefi-minerals.com

Contact info@kefi-minerals.com





Data and Statistics for these countries : Ethiopia | Saudi Arabia | All
Gold and Silver Prices for these countries : Ethiopia | Saudi Arabia | All

KEFI Minerals Plc.

EXPLORATION STAGE
CODE : KEFI.L
ISIN : GB00B1HNYB75
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KEFI is an exploration gold and copper company based in United kingdom.

Its main exploration property is ARTVIN in Turkey.

KEFI is listed in United Kingdom. Its market capitalisation is GBX 509.0 millions as of today (€ 452.8 millions).

Its stock quote reached its highest recent level on January 21, 2011 at GBX 9.85, and its lowest recent point on December 23, 2016 at GBX 0.23.

KEFI has 332 702 973 shares outstanding.

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Annual reports of KEFI Minerals Plc.
Annual Report 2007
Financings of KEFI Minerals Plc.
7/27/2016has raised Euro 3.8 million
Financials of KEFI Minerals Plc.
4/11/2016FIRST QUARTER 2016 OPERATIONAL UPDATE
12/31/2015Fourth Quarter 2015 Operational Update
10/19/2015Third Quarter 2015 Operational Update
9/28/2015Tulu Kapi Funding Update and Interim Results for the Half-Ye...
Project news of KEFI Minerals Plc.
6/3/2011exploration property sales and final results
Corporate news of KEFI Minerals Plc.
8/10/2017Reduced Funding Requirement
9/19/2016Investor Briefings
7/29/2016Total Voting Rights
7/13/2016Restructure For Develpment of Tulu Kapi
6/30/2016Result of AGM
6/7/2016Kefi Minerals 2015 Annual Report
6/7/2016Kefi Minerals Notice of AGM
6/7/2016KEFI Minerals Proxy
6/7/2016Appointment of Preferred EPC Contractor
6/2/2016Reduced Tulu Kapi Funding Requirements Replacement
4/25/2016KEFI at UK Investor Show
4/14/2016Electronic Communication
4/14/2016Letter to Shareholders re Electronic Communications
4/8/2016Holding(s) in Company
3/31/2016Total Voting Rights
12/31/2015Happy New Year 2016
12/30/2015Fourth Quarter 2015 Operational Update
12/14/2015Holding(s) in Company
11/13/2015Updated Presentation on Website
10/19/2015Holding in Company
10/14/2015Appointment of Tulu Kapi Mine Contractor
10/5/2015Progress at Jibal Qutman, Saudi Arabia
9/28/2015Tulu Kapi Funding Update and Interim Results for the Half-Ye...
9/9/2015Update on Tulu Kapi Gold Project Financing
8/28/2015KEFI Presenting at Africa Down Under Conference
8/17/2015Contracting and Financing on Schedule, Tulu Kapi Gold Projec...
7/27/2015Director Dealing
7/17/2015Final Bidding Triggered for Project Contractors, Tulu Kapi G...
7/3/2015Director Share Purchase
7/1/2015Total Voting Rights
7/1/2015Second Quarter 2015 Operational Update
6/29/2015KEFI Presenting At Mining Capital Conference
6/24/2015Completion Of 2015 DFS & Development Funding Plan
6/19/2015New Investment – Kefi Minerals Plc
6/16/2015Conditional Placing to Raise £2.9 Million
6/16/2015Result of AGM
6/15/2015Chairman’s AGM Statement
5/22/2015KEFI Minerals Annual Report 2014
5/22/2015Notice of AGM, Publication of Annual Report & Accounts and A...
5/22/2015KEFI Minerals Proxy
5/22/2015KEFI Minerals Notice of AGM
5/20/2015Exploration Update: Jibal Qutman, Saudi Arabia
5/6/2015Exploration update: Jibal Qutman, Saudi Arabia
4/22/2015Tulu Kapi Ore Reserve Statement
4/20/2015UPDATE ON PROJECT FINANCING AND DFS FOR TULU KAPI
4/13/2015KEFI Granted Mining Licence
4/9/2015KEFI - Webinar and UK Investor Show
4/7/2015Exploration Update at Hawiah - Saudi Arabia
4/1/2015First Quarter 2015 Operational Update
3/23/2015Grant of Share Options
3/18/2015Director Share Purchase
3/17/2015Financing Update
3/16/2015Tulu Kapi Update
3/4/2015EXPLORATION UPDATE - SAUDI ARABIA
2/26/2015Update on final tranche of placing
2/25/2015Appointment of Head of Operations
2/10/2015Tulu Kapi Resource Update
2/10/2015Quarterly Update
2/10/2015KEFI Presenting at Mining Indaba
10/15/2014QUARTERLY OPERATIONAL UPDATE
3/27/201427 March 2014 Share Option Scheme Approved
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LSE (KEFI.L)
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