KEFI Minerals plc - Additional tenement applications & presentation
05 Fevereiro 2018 - 9:43AM
ADVFN NewsWire
KEFI Minerals
plc
("KEFI" or
the "Company")
Additional tenement
applications
And
Presentation at
Indaba
KEFI Minerals (AIM: KEFI), the gold and copper
exploration and development company with projects in the Kingdom of
Saudi Arabia and the Democratic Republic of Ethiopia, announces
that it has recently assembled and submitted applications for over
1000km2 of strategically selected copper and gold
tenements near the Company's Tulu Kapi development project in
Ethiopia (via its wholly-owned subsidiary KEFI Minerals Ethiopia)
and also a similar-sized area near the Company's Hawiah exploration
project in Saudi Arabia (via the Company's 40%-owned Joint Venture
with ARTAR).
Presentation at Indaba
KEFI has been invited to present at the
Investing in African Mining Indaba Conference base metals session,
being held in Cape Town this week, as well as giving its corporate
presentation. The presentation being given at the conference has
been uploaded to the Company's website at http://www.kefi-minerals.com/ alongside the Company's corporate
presentation.
ENQUIRIES
KEFI Minerals plc
Harry Anagnostaras-Adams (Executive Chairman) +357 99457843
John Leach (Finance Director) +357 99208130
SP Angel Corporate Finance LLP (Nominated
Adviser)
Ewan Leggat, Jeff Keating, Soltan Tagiev +44 20 3470 0470
Brandon Hill Capital Ltd (Joint Broker)
Oliver Stansfield, Jonathan Evans +44 20 7936 5200
RFC Ambrian Ltd (Joint Broker)
Jonathan Williams +44 20 3440 6817
Beaufort Securities Ltd (Joint Broker)
Elliot Hance +44 20 7382 8300
IFC Advisory Ltd (Financial PR and IR)
Tim Metcalfe, Heather Armstrong +44 20 3934 6630
NOTES TO EDITORS
KEFI Minerals plc
KEFI is the operator of two advanced gold development projects
within the highly prospective Arabian-Nubian Shield, with an
attributable 1.93Moz (100% of Tulu Kapi's 1.72Moz and 40% of Jibal
Qutman's 0.73Moz) gold Mineral Resources (JORC 2012) plus
significant resource growth potential. KEFI targets that production
at these projects generates cash flows for further exploration and
expansion as warranted, recoupment of development costs and, when
appropriate, dividends to shareholders.
KEFI Minerals in Ethiopia
The Tulu Kapi gold project in western Ethiopia is being
progressed towards development, following a grant of a Mining
Licence in April 2015.
The Company has now refined contractual terms for project
construction and operation. Estimates include open pit gold
production of c. 140,000oz pa for a 7-year period. All-in
Sustaining Costs (including operating, sustaining capital and
closure but not including leasing and other financing charges)
remain c. US$800/oz. Tulu Kapi's Ore Reserve estimate totals 15.4Mt
at 2.1g/t gold, containing 1.1Moz.
All aspects of the Tulu Kapi (open pit) gold project have been
reported in compliance with the JORC Code (2012) and subjected to
reviews by appropriate independent experts.
A Preliminary Economic Assessment has been published that
indicates the economic attractiveness of mining the underground
deposit adjacent to the Tulu Kapi open pit, after the start-up of
the open pit and after positive cash flows have begun to repay
project debts. An area of 1,100 square kilometres adjacent to Tulu
Kapi has been reserved for exploration by KEFI upon commencement of
development, with a view to adding satellite deposits to
development and production plans.
KEFI Minerals in the Kingdom of Saudi Arabia
In 2009, KEFI formed G&M in Saudi Arabia with local Saudi
partner, Abdul Rahman Saad Al Rashid & Sons Company Limited
("ARTAR"), to explore for gold and associated metals in the
Arabian-Nubian Shield. KEFI has a 40% interest in G&M and is
the operating partner.
To date, G&M has conducted preliminary regional
reconnaissance and has had five exploration licences ("ELs")
granted, including Jibal Qutman and the Hawiah EL that contains
over 6km strike length of outcropping gossans developed on altered
and mineralised rocks with all the hallmarks of a copper-gold-zinc
VHMS deposit.
At Jibal Qutman, Mineral Resources are estimated to total 28.4Mt
at 0.80g/t gold for 733,045 contained ounces. The shallow oxide
portion of this resource is being evaluated as a low capital
expenditure heap-leach mine development.
ARTAR, on behalf of G&M, holds over 20 EL applications. ELs
are renewable for up to three years and bestow the exclusive right
to explore and to obtain a 30-year exploitation (mining) lease
within the area.
The Kingdom of Saudi Arabia has announced policies to encourage
minerals exploration and development, and KEFI Minerals supports
this priority by serving as the technical partner within G&M.
ARTAR also serves this government policy as the major partner in
G&M, which is one of the early movers in the modern resurgence
of the Kingdom's minerals sector.
Kefi Gold And Copper (LSE:KEFI)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Kefi Gold And Copper (LSE:KEFI)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024