KEFI Kefi Gold And Copper Plc

TIDMKEFI

KEFI Minerals plc

05 March 2018

5 March 2018

KEFI Minerals plc

("KEFI" or the "Company")

Video Presentations

KEFI Minerals (AIM: KEFI), the gold and copper exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, has uploaded to its website two video presentations entitled "KEFI Minerals Ethiopia" and "KEFI Minerals Saudi Arabia", being delivered this week by its representatives to forums focusing on growth opportunities for the minerals sector within the Arabian-Nubian Shield ("ANS"). KEFI's presentations focus on the two largest ANS countries, Ethiopia and Saudi Arabia, being where its activities are based. The forums are being held in Canada and Turkey.

Speaking in Ankara, KEFI Executive Chairman, Harry Anagnostaras-Adams, commented: "KEFI is pleased to have built a strong platform with pole positions in the two largest countries within the highly prospective Arabian-Nubian Shield, Ethiopia and Saudi Arabia. Despite recent political unrest in Ethiopia, it remains one of the most stable and predictable governments in the African continent. Across the Red Sea, the wide-ranging reforms being witnessed in Saudi Arabia include a progressive push to develop the minerals sector."

 
 ENQUIRIES 
  KEFI Minerals plc 
 Harry Anagnostaras-Adams 
  (Executive Chairman)              +357 99457843 
 John Leach (Finance Director)      +357 99208130 
 SP Angel Corporate Finance 
  LLP (Nominated Adviser) 
                                    +44 20 3470 
 Ewan Leggat, Jeff Keating           0470 
 
 Brandon Hill Capital Ltd 
  (Joint Broker) 
 Oliver Stansfield, Jonathan        +44 20 7936 
  Evans                              5200 
 
 RFC Ambrian Ltd (Joint Broker)     +44 20 3440 
  Jonathan Williams                  6817 
 IFC Advisory Ltd (Financial 
  PR and IR) 
                                    +44 20 3934 
 Tim Metcalfe, Heather Armstrong     6630 
 

Further information can be viewed at www.kefi-minerals.com

NOTES TO EDITOR

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 05, 2018 06:35 ET (11:35 GMT)

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