KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) saw its shares rise on Monday after it noted a widely publicised request for a permanent ceasefire by the Tigrayan rebel leadership in Ethiopia.
The gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, said the communique on September 11, 2022, seeks mediation by the African Union and participation in the national reconciliation process already being arranged by the Federal Government of Ethiopia.
In a brief statement, KEFI said it views the development as "positive for the country and as well as for the Company's Tulu Kapi Gold Project, which is currently clearing the last regulatory processes required ahead of the expected signing of binding project financing documentation at the end of October 2022, enabling project launch to proceed and release of funds as standard conditions precedent are met."
In afternoon trade in London, KEFI shares were 4.2% higher at 0.61p.