5th Feb 2020 15:12
(Alliance News) - Shefa Gems Ltd on Wednesday said the Israeli government has renewed the company's Carmel site permit to mine for diamonds, gold and precious stone.
The country's Ministry of Energy, Natural Resources Administration has renewed the company's Permit 837A13 for the Carmel site, which covers an area of 31,447 hectares, for a period of one year. The new permit replaces the expired permits, 837A12 and 899A7, and combines them into one prospecting permit.
Vered Toledo, chief executive of Shefa Gems, said: "The renewal of this permit is a further step for the company in the advanced exploration of the primary volcanic bodies on Mount Carmel, which are the primary source of the unique and rare gemstones discovered by Shefa Gems at the Kishon Mid Reach, especially Carmel Sapphire and the rare natural moissanite. Meanwhile, the company continues to progress towards Discovery Certificate in Zones 1 and 2 of the Kishon Mid Reach".
Shares in the gemstones explorer were untraded at 3.50 pence each in London on Wednesday afternoon.
By Tapan Panchal; [email protected]
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