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Kefi Minerals losses widen on higher costs

By BFN News | 09:54 AM | Tuesday 30 June, 2020


Gold exploration and development company Kefi Minerals reported wider losses on rising costs. For the year ended 31 December 2019, pre-tax losses widened to £5.6m from £5m on-year Looking ahead, the company said it would continue to progress its plan to drill the Tulu Kapi mine - located in Ethiopia - in 2021. 'During construction, we will appoint the plant and mine managers and they will continue to refine the 2020 Tulu Kapi Plan in light of 2021 grade-control drilling in the first mining zones and we will review the cut-off grade which was based on what now appears to be an overly conservative gold price of US$1,098/oz,' the company said. At 9:54am: (LON:KEFI) KEFI Minerals PLC share price was -0.14p at 0.85p Story provided by StockMarketWire.com

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