KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams speaks to Thomas Warner from Proactive about how the exploration and development company has performed in 2023 and how its positioned heading into the new year.
Adams describes the end of the year as "extremely busy and very successful," highlighting that key developments are aligning favourably, although not all details can be disclosed yet.
He says significant progress has been made at the Tulu Kapi Gold Project in Ethiopia, with three major prerequisites being met. This includes the relaxation of foreign exchange controls in October, allowing the company to organise a crucial stakeholder meeting in November. He suggests that these developments, coupled with strong support from the Ethiopian government, including from the Prime Minister, have set the stage for the project's safe launch.
Adams details the government's quick and emphatic response to the company's requests, providing extra support around the project area. This response led the lead financiers to move towards final approval. Adams emphasized the complexity of the transaction and the forward momentum of the project, despite some delays in formal announcements due to the protocols of large financing organisations.
Looking ahead, Adams mentions the commencement of formal resettlement processes post-Ethiopian Christmas (January 7th), expected to take two to three months. This period will involve working closely with each household affected by the project, ensuring a smooth transition.
In Saudi Arabia, KEFI has also seen developments. The company plans intensive strategy optimisation sessions in January. Ending the interview, Adams conveys a sense of relief at reaching this stage of the company's development and optimism for the future.
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