In a significant development, KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams has stated that ‘the stars are aligning’ as gold continues to reach record highs, perfectly aligning with the company’s plans to trigger production at its Tulu Kapi gold project in Ethiopia.
According to Anagnostaras-Adams, the historic high in gold prices, currently around $2,400 per ounce, is expected to greatly enhance KEFI’s net cash flow, with projections reaching around $90 million after expenses. This is particularly significant for the company’s operations in Ethiopia, where production is expected to start within the next two years.
Anagnostaras-Adams also highlighted the industry-wide trends, noting the consolidation among African gold developers and predicting a positive knock-on effect on acquisitions and asset trading due to increased cash flows for producers. He remained cautiously optimistic about maintaining high gold prices, citing strong historical demand and current geopolitical tensions as supporting factors.
In addition to the positive impact on the company’s finances, Anagnostaras-Adams provided updates on the project approvals and progress in Ethiopia and Saudi Arabia, underscoring KEFI’s compliance with timelines and the beneficial effects of the current commodity prices on the company’s operations.
As stated by Anagnostaras-Adams, the stars are aligning for KEFI Gold and Copper, with the record-high gold prices expected to significantly enhance the company’s net cash flow and support its plans to commence production at the Tulu Kapi gold project in Ethiopia.
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