23rd Sep 2013 09:10
LONDON (Alliance News) - Kefi Minerals Ltd Monday reported a slightly wider loss for the first half of the year as exploration costs rose.
The company reported a loss of GBP811,000 for the six months to end-June compared with a loss of GBP755,000 a year earlier. The company isn't yet earning any revenues as it continues exploring the Jibal Qutman gold and copper project in Saudi Arabia.
Drill and trench results continued to expand the mineralisation on all four drilled deposits at Jibal Qutman and the programme will be accelerated with a third rig now in place, it said.
"We remain very excited about the prospect and look forward to lodging our first mining licence next year," Managing Director Jeffrey Rayner said.
Kefi Minerals shares were down 2.6% at 2.8 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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