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KEFI Gold and Copper (AIM: KEFI)

Last close As at 20/11/2024

GBP0.01

▲ 0.03 (5.08%)

Market capitalisation

GBP36m

KEFI Gold and Copper is an exploration and development company with three projects focused on the Arabian-Nubian Shield – namely, the Tulu Kapi project in Ethiopia (projected 70% interest) and the Hawiah and Jibal Qutman projects (both 25%) in Saudi Arabia.

In the wake of its March equity fund-raising, we calculated that KEFI was capable of generating free cash flow of c £82m pa from 2027 to 2032, driving average (maximum potential) dividends of 0.59p/share and valuing the company at 2.21p/share. However, at spot metal prices, this valuation rose to in excess of 5.50p/share in FY27.

Latest Insights

View More

Metals & Mining | Update

KEFI Gold and Copper — Swapping assets for cash

Metals & Mining | Update

KEFI Gold and Copper — The penultimate piece of the puzzle

Metals & Mining | Update

KEFI Gold and Copper — Counting down to launch in H124

Metals & Mining | Flash note

KEFI Gold and Copper — East Africa and Ethiopia attracting investment
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Equity Analyst

Lord Ashbourne

Lord Ashbourne

Director of Content, Mining

Key Management

  • Harry Anagnostaras-Adams

    CEO

  • Jeff Rayner

    Managing Director

  • laki Catsamas

    Group financial controller

Balance Sheet

Forecast net debt (£m)

0.2

Forecast gearing ratio (%)

1

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 37.88 27.94 16.78
Relative 37.35 24.48 19.8
52 week high/low 10.9p/4.1p

Financials

This morning, KEFI Gold and Copper (KEFI) announced it is in talks with its Saudi joint venture partner, ARTAR, to exit its Saudi Arabian joint venture, G&M. The exit will remove KEFI’s obligation to pay US$10m to maintain its beneficial interest in G&M at 25% (cf 15% otherwise).

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 0.0 (2.7) (3.3) (0.1) N/A N/A
2023A 0.0 (3.5) (4.6) (0.2) N/A N/A
2024E 0.0 (6.5) (17.0) (0.3) N/A N/A
2025E 0.0 (1.0) (4.5) 0.0 N/A N/A

Research

Update

Metals & Mining

KEFI Gold and Copper — The penultimate piece of the puzzle

Update

Metals & Mining

KEFI Gold and Copper — Counting down to launch in H124

Metals & Mining

Update

KEFI Gold and Copper — Swapping assets for cash

Flash note

Metals & Mining

KEFI Gold and Copper — East Africa and Ethiopia attracting investment

Flash note

Metals & Mining

KEFI Gold and Copper — New timings

Flash note

Metals & Mining

KEFI Gold and Copper — New exploration and increased resources

Update

Metals & Mining

KEFI Gold and Copper — Counting down to production

edison tv

Metals & Mining

KEFI – executive interview

Flash note

KEFI Gold and Copper — Rounding the final bend

Outlook

Metals & Mining

KEFI Gold and Copper — Hawiah developing rapidly behind Tulu Kapi

Outlook

Metals & Mining

KEFI Gold and Copper — On the cusp
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Thematics

thematic

Metals & Mining

Shades of the 1970s

thematic

Metals & Mining

Critical minerals: The investment vacuum
samuel-scrimshaw-kp_87tExCwI-unsplash

thematic

Metals & Mining

Lithium’s adolescence

thematic

Metals & Mining

Lepidico: Offer closes, oversubscribed
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