KEFI Gold and Copper: A Comprehensive Update on Operational Progress and Market Dynamics – ICYMI

In this interview, Thomas Warner from Proactive chats with Harry Anagnostaras-Adams, the executive chairman of KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF), to delve into the company’s recent developments following their Q3 2023 Quarterly Operational Update.

Anagnostaras-Adams provides a comprehensive overview of the progress made in their projects across Ethiopia and Saudi Arabia, addressing the challenges, the strides achieved, and his optimistic outlook for the company amid a challenging market landscape.

Thomas Warner: Harry, it’s great to see you again. Can you provide us with a quick summary of your Q3 2023 update?

Harry Adams: Thank you, Thomas. It’s nice to be back. This quarter, we’ve been grinding through the approval processes for our projects, particularly in Ethiopia. It’s a positive grind, though, with significant progress in our feasibility studies in Saudi Arabia. We’re also uncovering more growth in our assets than previously reported, thanks to early exploration results. So, operationally, it’s been a very positive quarter for us, even if much of it is happening behind the scenes.

TW: You’ve described the progress in Ethiopia as ‘grinding’. Can you expand on that, and would you say the progress in Saudi Arabia is more satisfying?

HA: In Ethiopia, we’re working through a billion-dollar commitment, which involves a lot of preparation and attention to detail. It’s a necessary grind, and we’re the first to undertake such a well-defined bankable project in the region. In Saudi Arabia, we’re planning for development and conducting explorations to understand the full potential of our assets. The financing grind is ahead of us there, but it’s all part of the process, and we’re committed to ensuring everything is done properly.

TW: The share price has reacted negatively to the quarterly update. What are your thoughts on that?

HA: Share price fluctuations can be challenging to analyse, but I believe there’s a level of impatience among our shareholders. They are eager to see progress and are tired of hearing about the grinding process. I understand their perspective, and it’s our job to stay focused on delivering the business plan. The share price will sort itself out in due course.

TW: Despite the challenges, it seems like a relatively optimistic time for KEFI with gold and copper prices being favourable. What’s your outlook?

HA: Absolutely, Thomas. From my point of view, it feels terrific. The share price might not reflect that currently, but these things tend to follow either belatedly or ahead. We have 5 million ounces of gold and a substantial amount of copper, equating to around $10 billion of metal in the ground. The extraneous factors, such as commodity prices and country-specific factors, have turned dramatically for the better in both Ethiopia and Saudi Arabia. We’ve also secured financing for our projects through regional finances, bypassing the junior market’s current state. There are signs of the junior market turning, and if it aligns in the next six to 12 months, all stars could align for KEFI, presenting an exciting prospect for us.

TW: Harry, you’ve mentioned the significance of the preparation work in Ethiopia. Can you share more about the importance of this phase in the project’s lifecycle?

HA: Certainly, Thomas. The preparation phase in Ethiopia is crucial because we are dealing with a massive commitment, both financially and operationally. We are the first to embark on such a significant and well-defined project in the region, which adds to the complexity and importance of this phase. Every detail matters, and there are no shortcuts. Our team is fully committed to ensuring that every aspect of the project is meticulously planned and executed, setting a strong foundation for the success of the project.

TW: With the challenges in the junior exploration sector, how is KEFI positioning itself to navigate through these times?

HA: We are fully aware of the challenges in the junior exploration sector, and we are focused on delivering our business plan. We understand that there are no shortcuts, and we are committed to doing the necessary work to ensure the success of our projects. We are making significant strides in our projects in Ethiopia and Saudi Arabia, and we remain optimistic about the future. Our focus is on ensuring that we are well-prepared and well-positioned to seize the opportunities that come our way.

TW: Finally, Harry, can you share your message to the shareholders and the broader investment community following this quarterly update?

HA: To our shareholders and the investment community, I want to express my gratitude for your continued support. We are making significant progress in our projects, and while the journey may seem grinding at times, every step we take is bringing us closer to our goals. We are committed to transparency and keeping you informed every step of the way. We are optimistic about the future, and we believe that the value in our projects will be realized in due course. Thank you for your trust and patience.