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Kefi Minerals plc (KEFI)


Wednesday 11 June, 2014

Kefi Minerals plc

Director Dealings

RNS Number : 3151J
Kefi Minerals plc
11 June 2014


                                                                                                                              11 June 2014


KEFI Minerals Plc

("KEFI" or the "Company")


Director Dealings


KEFI (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 that, following the earlier announcement by the Company, the following directors have today acquired ordinary shares of 1p each in the Company at a price of 1.5p each.




Number of shares acquired

Resultant shareholding

Resultant shareholding as a % of the current issued share capital


Harry Anagnostaras-Adams

Non-Executive Chairman




Ian Plimer

Deputy Chairman




Jeff Rayner

Managing Director








KEFI Minerals Plc

Jeffrey Rayner, Chief Executive Officer

+90 533 928 1913

Harry Anagnostaras-Adams, Chairman

+357 9945 7843

Fox-Davies Capital (Nominated Adviser and Joint Broker)

Simon Leathers

+44 203 463 5022

finnCap Ltd (Joint Broker)

Elizabeth Johnson, Christopher Raggett

+44 207 220 0500

Luther Pendragon (Financial PR)

Harry Chathli, Claire Norbury, Ivana Petkova

+44 207 618 9100


Further information on KEFI is available at 


KEFI in the Kingdom of Saudi Arabia


In 2009, KEFI formed the Gold and Minerals Joint Venture Company ("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, G&M has conducted preliminary regional reconnaissance and lodged 30 Exploration Licence Applications (ELAs), of which four have been granted.

Two of the granted ELs were relinquished in May 2014. 


The ELAs were initially applied for and granted to ARTAR. Incorporation of G&M has been completed and the joint venture arrangements provide for the transfer of any granted Licences to G&M in due course.


The Kingdom of Saudi Arabia has instituted policies to encourage minerals exploration and development and KEFI 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. 


KEFI in Ethiopia


KEFI has acquired a 75% interest in the 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. Early research has yielded encouraging results and was summarised in recent announcements in respect of the Tulu Kapi acquisition transaction.


KEFI's Focus


The Company is now positioned as an operator of two advanced gold development projects within the highly prospective Arabian-Nubian Shield, with an attributable 1.7Moz of JORC compliant mineral resource plus significant resource growth potential. By 2017, the aggregate estimated production at these projects attributable to KEFI could exceed 80koz pa Au, generating cash flows for further exploration and expansion as warranted, recoupment of development costs and, when appropriate, dividends to shareholders.

This information is provided by RNS
The company news service from the London Stock Exchange

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