Jibal Qutman gold project in Saudi Arabia is shaping up to be a viable cash flow producer with a low-capex requirement, said Harry Adams, chairman, ahead of the annual meeting. KEFI has proven about 733,000 ounces of gold at Jibal Qutman in Saudi Arabia.
KEFI Minerals has drawn up a short-list of project contractors and financiers for its Tulu Kapi project in Ethiopia, with the final decisions expected next quarter. Tulu Kapi is expected to come into production in 2017, with plant commissioning at the end of 2016. The resource is currently one million ounces of gold but the company hopes to double that through additional exploration.
At Hawiah, in Saudi Arabia, a drilling campaign is planned for the second half of the year better to define what Adams said is a huge precious and base metals target.
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