TIDMKEFI
RNS Number : 1591U
Kefi Minerals plc
19 June 2009
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19 June 2009
KEFI Minerals plc
("KEFI Minerals" or the "Company')
AIM: KEFI
Issue of Equity
KEFI Minerals confirms that it has today issued 702,839 ordinary shares of 1p
each ("Ordinary Shares") (the "Adviser Shares") to Fox Davies Capital, in
consideration of professional adviser fees.
Application will be made to admit the Adviser Shares to trading on AIM
("Admission") and dealings in the Adviser Shares are expected to occur on 25
June 2009.
The total number of shares following the issue of the Adviser Shares is
224,782,419 Ordinary Shares
Enquiries:
KEFI Minerals www.kefi-minerals.com
Jeffrey Rayner +90 533 928 19 13
Fox-Davies Capital
Oliver Stansfield +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 gold
and base metal mineralisation have been recognised in the project area, as well
as historical workings indicating potential for economic mineralisation. The
Company's Artvin Project is held in a joint venture operated by KEFI Minerals
and 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 contains
information about approximately 100 further prospective sites in Turkey. This
database provides the Company with a competitive advantage to identify
prospective areas for project generation in Turkey. Monitoring of the
exploration licence status of geologically prospective areas will be carried out
on an ongoing basis so that KEFI Minerals can acquire further exploration
opportunities 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 group
Abdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"). KEFI Minerals is
the operating partner with a 40 per cent shareholding of GEMCO with ARTAR
holding 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 and
personnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFI Minerals
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) and John
Leach (Finance Director).
Further information on KEFI Minerals is available at www.kefi-minerals.com and
the Company's AIM code is "KEFI".
This information is provided by RNS
The company news service from the London Stock Exchange
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