KEFI Minerals is a dynamic exploration company that aims to create shareholder value through the discovery , development and production of gold and copper deposits.
In the Kingdom of Saudi Arabia , KEFI Minerals has a minerals exploration joint venture with a leading Saudi construction and investment group (ARTAR). KEFI Minerals is the operating partner with a 40% interest and the joint venture’s primary target is the discovery and development of a >1 million ounce gold deposit in the under-explored Precambrian Shield in Saudi Arabia.
In Turkey , KEFI Minerals also has an extensive proprietary exploration database that contains information about approximately 100 prospective sites in Turkey. This database provides the Company with a competitive advantage to identify prospective areas for project generation in Turkey. KEFI Minerals has adopted a strategy of evaluating further opportunities as they are brought to our attention in the well-endowed and under-explored Tethyan Mineral Belt.
The Company has a strong Board of Directors and management team with highly demonstrable track records in the resources industry in Australia and Europe. Their goal is to expand the Company through the discovery, acquisition and development of high quality precious and base metal projects. Its reputation has been built on treating safety, environment and community relations as a priority at all times.
KEFI Minerals commenced trading on AIM (Code “KEFI”) in December 2006. EMED Mining contributed the initial assets and retains a 16.6% shareholding in the Company. 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 exploration.
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KEFI Minerals currently has 21 Exploration Licence applications (ELAs) in Saudi Arabia of which four have been granted. The first was the Selib North EL in June 2011. In 2012, three more ELs were granted, the Hikyrin and Hikyrin South ELs, and in July- the Jibal Qutman EL. The licence applications were all submitted by ARTAR and the subsequent granted ELs will be transferred to the “Gold & Minerals” JV company in due course.
Trench sampling and diamond drilling has commenced on the Selib North EL, where new gold discoveries were made in pyritic dykes, and at the Jibal Qutman EL, where the historic workings in quartz veins have been extended from 400m to over 2.8km zone of a multiple vein sets.
A geophysical IP Survey is also underway at Selib North to identify the gold mineralised dykes under shallow cover and at depth under the gold intercepts confirmed in trenches and in drill core.
The JV expects further licences to be awarded in 2012-2013 and is poised to undertake cost efficient and aggressive exploration work to rapidly assess known mineralisation to a possible development stage.
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