Mining Capital Conference & Quarterly Webinar

RNS Number : 2964R

Kefi Minerals plc

26 June 2015

 

         26 June 2015

KEFI Minerals plc

("KEFI" or the "Company")

KEFI to present at Mining Capital Conference and host Quarterly Webinar

KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Democratic Republic of Ethiopia, is pleased to announce its participation at the following two events where shareholders and interested parties can receive an update on KEFI's activities and recent progress:

Mining Capital Conference

·     Date: Monday 29 June 2015

·     Time: 11am BST

·     Location: Brewery, 52 Chiswell Street, London, EC1 4SD 

Mr Wayne Nicoletto, Managing Director of KEFI Minerals (Ethiopia), will be presenting at Proactive Investors' Mining Capital Conference. The conference commences at 9.00am and Mr Nicoletto is scheduled to present at 11am. If you wish to attend, please register by contacting Thomas Coleman via email on [e-mail] or telephone [phone]. Further information about the event can be found at: www.miningcapital.com.

KEFI Quarterly Webinar

·     Date: Wednesday 1 July 2015

·     Time: 3pm BST

·     Location: http://webcasting.brrmedia.co.uk/broadcast/139177

Mr Anagnostaras-Adams, KEFI's Executive Chairman, will be hosting a live webinar, which can be viewed live via the link above. Listeners are encouraged to participate and submit questions by clicking on the link at the foot of the page or by emailing [e-mail]. The webinar will subsequently be available on the Company's website at http://www.kefi-minerals.com/news/videos.

ENQUIRIES

KEFI Minerals plc
Harry Anagnostaras-Adams (Executive Chairman)	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser)
Ewan Leggat, Katy Birkin	[phone]
Brandon Hill Capital Ltd (Joint Broker)
Oliver Stansfield, Alex Walker, Jonathan Evans	[phone]
Beaufort Securities Ltd (Joint Broker)
Elliot Hance	[phone]
Luther Pendragon Ltd (Financial PR)
Harry Chathli, Claire Norbury, Oliver Hibberd	[phone]

Further information can be viewed on KEFI's website 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) Au Mineral Resources (JORC 2012) plus significant resource growth potential. KEFI targets that production at these projects generate cash flows for further exploration and expansion as warranted, recoupment of development costs and, when appropriate, dividends to shareholders.

Expected milestones for the remainder of 2015 at Tulu Kapi include:

·     Formalisation of senior secured financing, agreement of final terms for project finance; and

·     Full development funding and commencement of construction.

In addition, during 2015 KEFI anticipates triggering a Preliminary Feasibility Study to underpin the submission of a Mining Licence Application for Jibal Qutman in Saudi Arabia through its joint venture company, Gold & Minerals Ltd ("G&M"). The potential development of Jibal Qutman is targeted to follow the start-up of Tulu Kapi.

KEFI Minerals in Ethiopia

The Tulu Kapi gold project in Western Ethiopia is being rapidly progressed towards development. In October 2014, KEFI Minerals reactivated the Mining Licence Application and assembled indicative project finance terms. The Mining Licence was granted in April 2015 and the secured lenders' independent technical consultants who have now commenced their due diligence.

The 2015 Definitive Feasibility Study focused on construction of a 1.2Mtpa processing plant with estimated annual steady-state gold production 95,000oz and All-in Sustaining Costs (including operating, sustaining capital and closure) averaging US$780/oz (excluding initial investment). 

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 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 ("EL") granted, including Jibal Qutman and the recently granted Hawiah exploration licence that contains over 6km strike length of outcropping gossans developed on VMS altered and mineralised rocks.

At Jibal Qutman, G&M's flagship project, the total Indicated and Inferred category Mineral Resources, JORC (2012) compliant, are now estimated at 28.4Mt at 0.80g/t Au for 733,045 contained gold ounces compared with 22.0Mt at 0.90g/t Au for 633,461 contained gold ounces previously estimated in March 2014, both at a cut-off grade of 0.2g/t Au.

ARTAR, on behalf of G&M, holds 24 exploration licence applications that cover an area of approximately 1,484km². 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 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. 

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