Kefi Minerals plc Notice of AGM, Annual Report & Adviser Appointment (9915N)
May 22 2015 - 1:10AM
UK Regulatory
TIDMKEFI
RNS Number : 9915N
Kefi Minerals plc
22 May 2015
22 May 2015
KEFI Minerals Plc
("KEFI" or the "Company")
Notice of AGM, Publication of Annual Report & Accounts and
Appointment of Joint Broker
KEFI Minerals (AIM: KEFI), the gold exploration and development
company with projects in the Democratic Republic of Ethiopia and
the Kingdom of Saudi Arabia, gives notice that the Annual General
Meeting ("AGM" or the "Meeting") of the Company is to be held at
4.00pm BST on Monday 15 June 2015 at the offices of Fieldfisher
LLP, 9th Floor, Riverbank House, 2 Swan Lane, EC4R 3TT.
Information on the resolutions to be considered at the Meeting
can be found in the Notice of AGM circular that has been made
available to shareholders of the Company as an electronic
communication along with forms of proxy and direction (the "AGM
materials") as well as the Annual Report and Accounts for the year
ended 31 December 2014 (the "Annual Report"). The AGM materials and
Annual Report are available on KEFI's website at
www.kefi-minerals.com.
In addition, KEFI is pleased to announce that Beaufort
Securities Limited has been appointed as Joint Broker to the
Company with immediate effect. Brandon Hill Capital will continue
as Joint Broker and SP Angel Corporate Financeremains as Nominated
Adviser to the Company.
ENQUIRIES
KEFI Minerals plc
Harry Anagnostaras-Adams (Executive
Chairman) +357 99457843
SP Angel Corporate Finance
LLP (Nominated Adviser)
Ewan Leggat, Katy Birkin +44 20 3470 0470
Brandon Hill Capital Ltd (Joint
Broker)
Oliver Stansfield, Alex Walker,
Jonathan Evans +44 207 936 5200
Beaufort Securities Limited
(Joint Broker)
Elliot Hance +44 20 7382 8300
Luther Pendragon Ltd (Financial
PR)
Harry Chathli, Claire Norbury,
Oliver Hibberd +44 207 618 9100
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:
-- Independently updated Definitive Feasibility Study for banking purposes
-- Formalisation of bank syndicate, agreement of final terms for project finance
-- Full development funding and commencement of construction
In addition, during 2015 KEFI anticipates submitting a Mining
Licence Application for Jibal Qutman in Saudi Arabia through its
joint venture company, Gold & Minerals Ltd ("G&M").
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.
A Definitive Feasibility Study is evaluating construction of a
1.2Mtpa processing plant with estimated annual gold production
86,000oz at total operating costs of $913/ounce. The planning
parameters for the DFS have already been independently confirmed.
The Company's milestones for this year include arranging project
finance in Q3 2015 and major works to commence in Q4 2015, with a
view to production commissioning at the end of 2016.
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 5km(2) of outcropping
gossans developed on VMS altered and mineralised rocks.
At Jibal Qutman, G&M's flagship project, the total inferred
category Mineral Resources, not yet JORC compliant, are now
estimated at 28.4Mt at 0.80g/t Au for 733,045 contained gold ounces
compared with a JORC resource of 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 1,484km(2) . 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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