KEFI Gold and Copper (KEFI ) booked a loss of £4.6 million in the six months to June 2026.
It has been an eventful year for the company so far, as development work commenced and was then suspended at its Tulu Kapi gold project in Ethiopia.
KEFI spent much of the six months to June putting financing arrangements in place for construction, only for a serious security incident post period end to necessitate the suspension of work.
It is not clear when a re-start will get underway, although the company has alluded to constructive conversations with various government officials and agencies.
As at the end of June KEFI had £18 million in the bank, since that time there has been minimal drawdown on working capital facilities.
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It’s an uncertain time for KEFI shareholders, and the share price has reacted as might be expected. Still, that does create an opportunity for value-hunters, given that this is a fully-permitted and funded mine that’s set to generate huge margin if and when it does get going.