Business: KEFI Shares Fall as Ethiopian Press Reports on Loss of Gold Project License

Addis Abeba- Shares in KEFI Gold & Copper PLC fell Monday morning amid press reports referring to a loss of the license for its Tulu Kapi gold project in Ethiopia.

KEFI said that the reports are inaccurate as the deadline for the mining company to demonstrate the availability of project funding and to check compliance on environment, duties and taxes, land rent, and exploration reports is June 30.

“The company remains confident of its compliance with all regulatory requirements,” KEFI said.

Shares at 1012 GMT were down 11% at 0.57 pence, recovering from a low of 0.46 pence earlier in the morning as the company released its response to reports from local media outlets. AS

This article was originally published on Market Watch. 

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