Issue of Equity

RNS Number : 4524U

Kefi Minerals plc

24 June 2009

 



KEFI Minerals plc

('KEFI Minerals' or the 'Company')

AIM: KEFI

Issue of Equity

Further to the announcement made on 19 June 2009, KEFI Minerals confirms that trading on AIM and dealings in the 702,839 ordinary shares of 1p each ('Ordinary Shares') (the 'Adviser Shares') to be issued to Fox Davies Capital, in consideration of professional adviser fees, are expected to occur on 6 July 2009, and not 25 June 2009 as previously advised.

The total number of shares in issue following the issue of the Adviser Shares will be 224,782,419 Ordinary Shares.

Enquiries:

KEFI Minerals	www.kefi-minerals.com
Jeffrey Rayner	[phone]
Fox-Davies Capital
Oliver Stansfield	[phone]
WH Ireland Limited
Katy Mitchell	[phone]
Bishopsgate Communications
Nick Rome	[phone]
Michael Kinirons

About KEFI Minerals

KEFI Minerals commenced trading on AIM in December 2006 and was formed with the aim of creating shareholder value through the discovery and exploitation of gold and copper deposits.

1. In Turkey, KEFI Minerals currently has nine exploration projects:

 

2. At Derinin Tepe, in the Western Anatolia Region, low-sulphidation epithermal quartz veins have been identified with gold and silver mineralisation.

At Artvin, in northeastern Turkey, extensive hydrothermal alteration and gold and base metal mineralisation have been recognised in the project area, as well as historical workings indicating potential for economic mineralisation. The Company's Artvin Project is held in a joint venture operated by KEFI Minerals and funded by Centerra Gold Inc.  Centerra has the right to earn up to 70% interest in the property by spending USD$6 million over 5 years.

3. Bakir Tepe, in southwestern Turkey, is prospective for VMS polymetallic deposits.

 

4. At Gumushane, in eastern Turkey, areas of extensive hydrothermal alteration have been recognised in the project area, as well as coincident areas of interest identified through interpretation of ASTER data.

 

5. Hasancelebi, in central Turkey, is prospective for high-sulphidation epithermal gold mineralisation and Iron-Oxide Copper-Gold ('IOCG') mineralisation.

 

6. Muratdag, in the Western Anatolia Region, is prospective for Carlin-style epithermal gold mineralisation.

 

7. At Yatik, in the Western Anatolia Region, low-sulphidation epithermal quartz veins with gold and silver mineralisation have been identified.

KEFI Minerals also has an extensive exploration database which contains information about approximately 100 further prospective sites in Turkey. This database provides the Company with a competitive advantage to identify prospective areas for project generation in Turkey. Monitoring of the exploration licence status of geologically prospective areas will be carried out on an ongoing basis so that KEFI Minerals can acquire further exploration opportunities as soon as they become available.

KEFI Minerals Plc has also formed a new minerals exploration joint venture - Gemco Limited ('GEMCO') - with leading Saudi construction and investment group Abdul Rahman Saad Al-Rashid & Sons Company Limited ('ARTAR'). KEFI Minerals is the operating partner with a 40 per cent shareholding of GEMCO with ARTAR holding the other 60 per cent.

GEMCO's primary target will be the discovery and development of a 1 million plus ounce gold deposit in the under explored Precambrian Shield in The Kingdom of Saudi Arabia.

EMED Mining has agreed to provide technical and administrative systems and personnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFI Minerals to reduce overheads and spend more on exploring Turkey. KEFI Minerals' Board of Directors is comprised of Mr. Harry Anagnostaras-Adams (Chairman), Mr. Jeffrey Rayner (Managing Director), Professor Ian Plimer (Deputy Chairman) and John Leach (Finance Director).

Further information on KEFI Minerals is available at www.kefi-minerals.com and the Company's AIM code is 'KEFI'.

 

END

 

 

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