Shefa Yamim (A.T.M.) Ltd AGM Statement and Operational Summary (9204Z)
May 23 2019 - 2:01AM
UK Regulatory
TIDMSEFA
RNS Number : 9204Z
Shefa Yamim (A.T.M.) Ltd
23 May 2019
B"H
23 May 2019
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim", "Shefa Gems" or the "Company")
AGM Statement and Operational Summary
Shefa Yamim (LON: SEFA), a company focused on advanced
exploration and development of multi-gemstone projects in Northern
Israel, will be holding its Annual General Meeting ("AGM") today at
11.00am (UK time) at the offices of SI Capital Limited at 13
Hanover Square, London, W1S 1HN. At the AGM, Mr. Michael Rosenberg,
OBE, the Chairman of the Board will make the following
statement:
"It gives me great pleasure to chair my first AGM as the
Chairman of Shefa Yamim, a position I was appointed to earlier this
month. As highlighted in the Company's 2018 Annual Report, over the
last 18 months, the Company has taken significant strides forward
since listing on the London Stock Exchange in December 2017. As
such, in order to maintain the highest levels of corporate
governance, it was important to separate the roles of Chairman and
Chief Executive Officer at this exciting stage of the Company's
development.
"It is pleasing to report that the progress in 2018 continued
into 2019 as we continue to execute our strategy and deliver on our
key milestones. Highlights of 2019 to date include:
-- Completion of independent Technical Economic Evaluation ("TEE") that places the first mine at Kishon Mid-Reach
Zone 1 project at the lower end of the cost curve;
-- Received official recognition on a new mineral in nature named Carmeltazite, discovered by Shefa Yamim, and found
in its gemstone, the Carmel Sapphire(TM);
-- Independent valuation of our "Gem Box" suite of precious stones, compiled by Dr Gavrielov Gila, an expert
gemmologist with 40 years' experience, which includes valuations of US$10,000 and US$7,000 per carat for Natural
MoissaniteTM and Blue Carmel SapphireTM respectively;
-- Conducted a 10 for one share split of Shefa Yamim (A.T.M.) shares traded on the Standard List of the London Stock
Exchange to improve liquidity in the shares; and
-- Change of the English name of the Company to Shefa Gems Ltd, which aligns well with our global "Mine to Market"
strategy.
"Earlier this month, we were pleased to welcome new
institutional and private shareholders on to our share register
through the fundraising of GBP1.0m conducted by SI Capital Limited.
The funds will be deployed effectively and we expect to reach the
following milestones in 2019/2020:
-- Continue progress with planning and regulatory procedures to advance the Kishon Mid-Reach Zone 1 area in
accordance with the Prospecting License with a view to begin mining in 2020 and thus become revenue generating;
-- Advance exploration of its target in the Kishon Mid-Reach area starting with further exploration of Zone 2
scheduled to begin in Q2 2019;
-- Expand exploration efforts to Zone 3 of the Kishon Mid-Reach area; and
-- Build on the launch of the "Heaven on Earth" collection, created by world-renowned jewellery designer Yossi
Harari, and develop the Company's "Mine to Market" strategy, which is intended to promote unique jewellery
collections utilising Shefa Yamim's suite of precious gems that will be marketed worldwide.
"The Board's focus is to unlock the premium value of these
multi-gemstone projects for the long-term benefit of shareholders.
In 2019, we also aim to engage with London-based advisors who will
help us expand understanding of Shefa Yamim's investment
proposition amongst City audiences. In conclusion, from an
operational, financial and corporate perspective, Shefa Yamim has
never been in a stronger position. The funds raised will enable us
to pursue our twin-track strategy to progress the Kishon Mid-Reach
Zone 1 project, while developing our "Mine to Market" strategy with
the ambition to build a global brand based on the unique location
and rarity of our precious gemstones."
- Ends -
Enquiries
Shefa Yamim (A.T. M.) Ltd
Michael Rosenberg, OBE - Chairman
www.shefayamim.com +44 20 7938 4026
-----------------------
VSA Capital Limited - Financial
Adviser
-----------------------
Andrew Raca +44 20 3005 5000
-----------------------
SI Capital Limited - Broker and
Strategic Adviser
-----------------------
+44 20 3871 4038 / +44
Nick Emerson and Jon Levinson 1483 413500
-----------------------
Luther Pendragon
-----------------------
Harry Chathli, Alexis Gore, Rachel
So +44 20 7618 9100
-----------------------
Notes to Editors
About Shefa Yamim (A.T.M.)
Shefa Yamim (LSE: SEFA) is a multi-commodity explorer of
precious stones operating in Northern Israel. Exploration activity
is managed by professionally skilled and technically competent
personnel and is accompanied by an international team of geological
experts with decades of proven experience in their fields.
All exploration activities are conducted under international
standards and the internationally recognised SAMREC 2016 Code.
Furthermore, its permits, granted to it by the Commissioner of
Mines, extend over an area of approximately 600,000 Dunam (60,000
hectares) that includes the Kishon River, the volcanic bodies on
Mount Carmel, the Zevulun and Yizre'el valleys and their margins -
Menashe Hills, Tivon-Alonim Hills, and Nazareth range. The Company
upholds environmental values and protects the nature in the areas
where it operates, cooperating fully with all authorities.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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