KEFI Minerals plc Director Dealing (0561E)
July 01 2019 - 6:50AM
UK Regulatory
TIDMKEFI
RNS Number : 0561E
KEFI Minerals plc
01 July 2019
1 July 2019
KEFI Minerals plc ("KEFI" or the "Company")
Director Dealing
KEFI Minerals (KEFI), the gold exploration and development
company with projects in the Kingdom of Saudi Arabia and the
Democratic Republic of Ethiopia, was notified on 1 July 2019 by its
executive chairman, Mr. Harry Anagnostaras-Adams, that he had
purchased 1,431,939 ordinary shares of 1.7 pence each ("Ordinary
Shares") at a price of 1.44 pence per share. Following the purchase
Mr. Anagnostaras-Adams and his wife beneficially hold 14,169,787
Ordinary Shares, representing 2.08% of the issued share capital of
the Company. These shares are held via Semarang Enterprises Ltd and
the Adams Superannuation Fund.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
Details of the person discharging managerial responsibilities/person
1. closely associated
-------------------------------------------------------------------------
Full name of person Dealing Harry Anagnostaras-Adams
(a)
------------------------------------ -------------------------------
Reason for notification
2.
------------------------------------ -------------------------------
Position/status Executive Chairman
(a)
------------------------------------ -------------------------------
Initial notification/ Amendment Initial notification
(b)
------------------------------------ -------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
Name of entity KEFI Minerals Plc
(a)
------------------------------------ -------------------------------
LEI 213800OO6ETVDGE3QY15
(b)
------------------------------------ -------------------------------
Details of the transaction(s): section to be repeated
4. for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
Description of the financial Ordinary shares of 1.7 pence
(a) instrument, type of instrument each
------------------------------------ -------------------------------
Identification code GB00BD8GP619
------------------------------------ -------------------------------
Nature of the transaction Transfer of shares between
(b) accounts
------------------------------------ -------------------------------
Price(s) and volume(s) Prices(s) Volume(s)
(c) 1.44 pence 1,431,939
------------------------------------ -------------------------------
Aggregated information: Single transaction as in 4(c)
(d) above
* Aggregated volume
* Price
------------------------------------ -------------------------------
(e) Date of the transaction: 01-07-2019
09.30 BST
------------------------------------ -------------------------------
(f) Place of transaction London Stock Exchange, AIM
------------------------------------ -------------------------------
Enquiries
KEFI Minerals plc
Harry Anagnostaras-Adams (Managing Director) +357 99457843
John Leach (Finance Director) +357 99208130
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Jeff Keating, Soltan Tagiev
Brandon Hill Capital Ltd (Joint Broker) +44 (0) 20 7936 5200
Oliver Stansfield, Jonathan Evans
SVS Securities Plc (Joint Broker) +44 (0) 203 700 0078
Tom Curran / Ben Tadd
IFC Advisory Ltd (Financial PR and IR) +44 (0) 20 3934 6630
Tim Metcalfe, Heather Armstrong
Notes to Editor
KEFI Minerals plc
KEFI is focused primarily on the advanced Tulu Kapi Gold Project
development project in Ethiopia, along with its pipeline of other
projects within the highly prospective Arabian-Nubian Shield. KEFI
targets that production at Tulu Kapi generates cash flows for
capital repayments, further exploration and expansion as warranted
and, when appropriate, dividends to shareholders.
KEFI Minerals in Ethiopia
Ethiopia is currently undergoing a remarkable transformation
both politically and economically.
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 over 1,000 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, 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.
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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