Appointment of Joint Broker

RNS Number : 9200E

Kefi Minerals plc

16 April 2014

 



16 April 2014

KEFI Minerals Plc

("KEFI" or the "Company")

Appointment of Joint Broker

KEFI Minerals (AIM: KEFI), the AIM-quoted gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, is pleased to announce that it has appointed finnCap Ltd to act as joint broker to the Company with immediate effect.

Enquiries:

KEFI Minerals Plc
Jeffrey Rayner	[phone]
Fox-Davies Capital (Nominated Adviser and Joint Broker)
Simon Leathers	[phone]
finnCap Ltd (Joint Broker)
Elizabeth Johnson, Christopher Raggett	[phone]
Luther Pendragon (Financial PR)
Harry Chathli, Claire Norbury, Ivana Petkova	[phone]

KEFI operates in Ethiopia and Saudi Arabia

In December 2013, KEFI Minerals acquired 75% of Tulu Kapi licence in western Ethiopia and intends to refine the development plan for the project, aimed at reducing the previously planned capital and operating expenditure.

KEFI is now positioned as an operator of two advanced gold development projects within the highly prospective Arabian-Nubian Shield, with an attributable 1.73Moz of JORC-compliant mineral resource plus significant resource growth potential. By 2017, the aggregate estimated production at these projects attributable to KEFI could exceed 80,000oz pa Au, generating cash flows for further exploration and expansion as warranted, recoupment of development costs and, when appropriate, dividends to shareholders.

In 2009, KEFI formed the Gold and Minerals Joint Venture ("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 Shield. To date, the G&M has lodged 23 Exploration Licence Applications, of which four have been granted. KEFI is advancing its Jibal Qutman project through Pre-Feasibility Study with a view of applying for its first mining licence.

The Kingdom of Saudi Arabia has instituted 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. 

Further information on KEFI is available at www.kefi-minerals.com

 

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