Harry Anagnostaras-Adams, executive chairman of KEFI Gold and Copper shares insights on the favorable market conditions

Harry Anagnostaras-Adams, executive chairman of KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF), shares insights on the favorable market conditions as gold reaches unprecedented highs, reaching approximately $2,400 per ounce. In an interview with Stephen Gunnion from Proactive, Anagnostaras-Adams emphasizes that this surge in gold prices coincides perfectly with KEFI’s plans to initiate production at its Tulu Kapi gold project in Ethiopia.

The notable rise in gold prices is anticipated to significantly augment KEFI’s net cash flow, projecting an approximate $90 million surplus after expenditures. This development is particularly advantageous for the company’s operations in Ethiopia, where production is slated to commence within the next two years. Furthermore, KEFI’s projects in Saudi Arabia are poised to reap similar benefits in the long term, although they are at a more nascent stage of development.

Anagnostaras-Adams also comments on broader industry dynamics, highlighting the trend of consolidation among African gold developers. He anticipates that increased cash flows for producers will catalyze further acquisitions and asset trading in the sector.


Looking ahead, Anagnostaras-Adams maintains a cautiously optimistic outlook on sustaining elevated gold prices, citing historical demand trends and current geopolitical uncertainties as supporting factors.

In closing, Anagnostaras-Adams provides updates on KEFI’s progress in obtaining project approvals and advancing initiatives in both Ethiopia and Saudi Arabia. He underscores the company’s commitment to adhering to timelines and underscores the positive impact of prevailing commodity prices on KEFI’s operational endeavors.

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