KEFI Gold and Copper

KEFI recently pivoted onto the fast track after some very frustrating years in its frontier markets. We are an early mover in the Arabian Nubian Shield, operating joint ventures with strong local partners in Ethiopia and Saudi Arabia, and have a built a platform with 1st tier operational management, bankers and contractors.

Market cap of £30m versus portfolio NPV of £348M. NPV increased 3X since H1 2020 due to exploration and permitting success (Saudi) and expected greater interest in Tulu Kapi (Ethiopia)

Estimated potential Net Operating Cash Flow (1) £137M (c. US$185M) per annum from the 3 development projects

KEFI targets becoming a mid-tier producer with 3 projects in production by 2026, at a net production rate of 187Koz gold equivalent (155Koz of gold)

Management Profile

Harry Anagnostaras-Adams, Executive Chair – B. Comm, MBA, Fellow of Australian Institutes of Management & Company Directors

Harry was founder or co-founder of Citicorp Capital Investors Australia, investment company Pilatus Capital, Australian Gold Council, EMED Mining, KEFI Minerals and Cyprus-based Semarang Enterprises. He has overseen a number of start-ups in those and their related organisations principally through the roles of Chairman, Deputy Chairman or Managing Director. He qualified as a Chartered Accountant early in his career while working with PricewaterhouseCoopers.

Eddy Solbrandt

Eddy began his career in the mining industry in 1986 and has since worked in open cut and underground metalliferous mines, as well as in coal, gold and mineral sands in Australia, New Zealand, USA, Canada, Mexico, UK, Ukraine, Russia, Kazakhstan, Indonesia, Thailand, South Africa, Mozambique and Namibia.

Eddy is founder of GPR Dehler, an international management consultancy which specialises in productivity improvement for mining companies worldwide, especially in the areas of human resources development and performance improvement. He is adept at providing swift assessment, analysis and development of solutions and strategies for achieving strategic, operational and financial objectives integrating process, people and technology. He is a seasoned facilitator experienced in designing and conducting strategy workshops.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Closing project finance for first development project and, in the meantime, reporting steady progress across all projects.

6 Months:

Starting construction of the first development project and, in the meantime reporting the grant of a second mining licence, the expansion of resources and the scheduled progress on development studies for projects 2 and 3

12 Months:

Scheduled construction progress in Ethiopia, the expansion of resources and the scheduled progress on development studies for projects 2 and 3

What do you think makes your company such a compelling investment?

It is demonstrated vision and resilience. Now that the working environment has dramatically improved, we can move quickly which should help close the 12-fold gap between market cap and NPV