30th Jul 2010 15:47
KEFI Minerals plc ("KEFI Minerals" or the "Company') Issue of Equity KEFI Minerals confirms that it has issued 1,187,099 ordinary shares of 1p each("Ordinary Shares") (the "Adviser Shares"), at a price of 1p each, to FoxDavies Capital in lieu of £10,000, being the retainer income due to Fox DaviesCapital, as broker to the company, for the period 1 July to 30 September 2010.
Application has been made to admit the Adviser Shares to trading on AIM and dealings in the Adviser Shares are expected to occur on 5 August 2010.
The total number in shares following the issue of the Adviser Shares is281,316,358 Ordinary SharesEnquiries:KEFI Minerals www.kefi-minerals.com Jeffrey Rayner +90 533 928 19 13 Fox-Davies Capital David Porter/Phil Davies +44 207 936 5220 WH Ireland Limited Katy Mitchell +44 161 832 2174 Bishopsgate Communications Nick Rome +44 20 7562 3350 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 goldand base metal mineralisation have been recognised in the project area, as wellas historical workings indicating potential for economic mineralisation. TheCompany's Artvin Project is held in a joint venture operated by KEFI Mineralsand 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 containsinformation about approximately 100 further prospective sites in Turkey. Thisdatabase provides the Company with a competitive advantage to identifyprospective areas for project generation in Turkey. Monitoring of theexploration licence status of geologically prospective areas will be carriedout on an ongoing basis so that KEFI Minerals can acquire further explorationopportunities 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 groupAbdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"). KEFI Minerals isthe operating partner with a 40 per cent shareholding of GEMCO with ARTARholding 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 andpersonnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFIMinerals 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) andJohn Leach (Finance Director).
Further information on KEFI Minerals is available at www.kefi-minerals.com and the Company's AIM code is "KEFI".
vendorRelated Shares:
Kefi Gold & Copper