KEFI Minerals (KEFI) has updated further on the ongoing exploration programme at the Hawiah project in Saudi Arabia, emphasising “pleased with the results to date of the drilling… Hawiah already appears to have a more valuable metal content than Tulu Kapi in Ethiopia”...
KEFI Minerals (KEFI) has updated its investors with news including that it “is pleased to advise that the National Bank of Ethiopia, Ethiopia's central bank, has now approved the signed term sheets with the project finance banks who are expected to provide the long term development debt finance to the company's Tulu Kapi Gold Project” and “received confirmation that the National Bank of Ethiopia has now registered the past investment in the project”. These are significant steps...
KEFI Minerals (KEFI) “has conditionally raised £3.7 million, before expenses, through a placing… at an issue price of 0.65 pence per ordinary share”, with Chairman Harry Adams arguing it “stands KEFI in promising financial shape and highlights the upside offered by its asset base”. But haven’t we heard similar before?...
KEFI Minerals (KEFI) has updated including “despite the need to adjust and reschedule many tasks due to COVID-19, the company remains focused on the preparations and finance milestones to enable major site activities to start at Tulu Kapi from October”, with it also noting “an important new development”...
KEFI Minerals (KEFI) has provided a quarterly operational update, including “subscription and shareholder documents are in the process of review by Government departments and ANS syndicate members for execution by the TKGM partners during March”…
KEFI Minerals (KEFI) has announced the passing of all resolutions at the Tulu Kapi gold project’s joint venture (TKGM) General Meeting, and this having “cleared the way for the closing of the ANS equity subscription”…
KEFI Minerals (KEFI) “is pleased to announce that the initial drilling programme at the company's Hawiah prospect in Saudi Arabia has demonstrated the continuous presence of massive sulphides directly below 4km of the gossanous Hawiah ridgeline”…
KEFI Minerals (KEFI) “is pleased to advise… the subscription agreement into the project company, Tulu Kapi Gold Mines Share Company was duly executed by ANS Mining Share Company on Sunday 5 January… The existing TKGM shareholders, KEFI and the Ethiopian Government, have also approved the issue of TKGM shares to ANS Mining”. A further step towards a “first modern mine development in Ethiopia”…
KEFI Minerals (KEFI) is “pleased to announce” financial and Tulu Kapi project moves...
KEFI Minerals (KEFI) “is pleased to announce that it has selected its preferred project infrastructure finance proposal for the company's Tulu Kapi gold project, being a bank loan based proposal recently received from two leading African banks as underwriters and co-lenders” – and the shares have responded circa 30% higher on the day, to around 1.65p…
KEFI Minerals (KEFI) has updated on the Tulu Kapi gold project including of a launch ceremony at the Second International Ethiopian Mining Conference and Exhibition and “the project's 24-month development schedule is expected to start in January 2020 and the project consortium action plan has now been agreed”…
KEFI Minerals (KEFI) has followed recent positive news from its Ethiopia development project with it now “pleased to report encouraging results at the start of the scout drilling programme at the company's Hawiah exploration licence in Saudi Arabia”…
Updating on KEFI Minerals (KEFI) towards the end of last week we noted the shares soaring back above 1p as it was Government arrangements resolved, Tulu Kapi project development looks ahoy. It is thus not surprising that the company “has received notice from its existing working capital providers to convert the remaining outstanding amount of £657,500 under the loan note issued on 5 August 2019 into new KEFI ordinary shares… at a price 0.68 pence per share”. However…
Previously updating on KEFI Minerals (KEFI), with the shares at 0.72p we stated it was somewhat understandable that the Ethiopian Government is taking time to finalise how it manages its project shareholding but positive signs for a near-term catalyst so BUY. now we have a “Project Administrative Arrangements Resolved” announcement – and the shares have raced ahead to 1.02p-1.14p. You should have followed our advice but it is not too late!
KEFI Minerals (KEFI) has updated confirming “receipt… of all the Government permits and independent consultants reports required for closing the project equity financing and triggering the development of the project. The only outstanding matter now is for the Ethiopian Government to resolve certain internal administrative matters”…
KEFI Minerals (KEFI) has announced a first drill hole at the Hawiah target “has intercepted a 15.8 metre interval (true width estimated at 8 metres) of massive sulphide at a vertical depth of 125 metres”, with Executive Chairman Harry Adams adding it “confirms our exploration model and reinforces our confidence in the area's high prospectivity for gold and copper”…
KEFI Minerals (KEFI) has announced results for the first half of 2019 and that “the remainder of 2019 is expected to be a very exciting period for the company and we look forward to providing regular updates as matters progress”…
Good news at last for we loyal shareholders in Kefi Minerals (KEFI). The company says that its partners, notably the Ethiopian Government, have reaffirmed their commitment to starting development in October 2019. That means first gold in late 2021 as scheduled...
KEFI Minerals (KEFI) “is pleased to announce a restructuring of its working capital convertible loan facility… in order to provide greater flexibility to the company by removing the existing security charges over assets and extending the loan maturity dates”…
A “Q2 2019 Operational Update” from KEFI Minerals (KEFI) includes on its key Tulu Kapi gold project in Ethiopia that recent incidents have “necessitated the activation of strong measures and checks at site before commencement of resettlement activities along with the commissioning of an updated independent security report prior to the equity closing and then the triggering of community resettlement” but also “KEFI remains confident that the evaluation will not have changed from similar previous independent assessments and that the project equity closings can complete this quarter and the overall project timeline will remain unaffected”…
KEFI Minerals (KEFI) has updated following “recent media commentary relating to a localised foiled coup attempt in one of Ethiopia's nine regions” and that, after consultations with the community, the authorities and our Ethiopian partners, it “has informed the authorities of the plan to proceed with the first stages of development upon the completion of agreed preparations with the local community and Government administration”…
An intra-day announcement typically is not good news but that’s not the case for one made at a 12:27pm from KEFI Minerals (KEFI)…
After news last week there is no doubt in my mind that Kefi Minerals (KEFI) really is very cheap. And so I present a note explianing why. Two caveats. 1. It is published by Edison which is paid to push this out so is hardly impartial. 2 The author is my old pal the convicted felon Champagne Charlie Gibson. To his credit, when not getting sozzled before driving home in his motor to go cuffing members of the working classes, Charlie does actually know a bit about mining. The note is below.
KEFI Minerals (KEFI) has updated on the first quarter of 2019 – including emphasising Prime Ministerial go-ahead for the Tulu Kapi gold project in Ethiopia and that the Regional Government has begun triggering the consecutive steps of the resettlement programme…
KEFI Minerals (KEFI) has yet another update for us on its Tulu Kapi gold project in Ethiopia. We know this process does seem to be taking an eternity. But progress is being made.
KEFI Minerals (KEFI) has announced both meetings this month including the Ethiopian Government saw intention to trigger Tulu Kapi project development at the end of the current quarter reinforced and a placing <em>“to fund current working capital of both KEFI and the project”...
KEFI Minerals (KEFI) has made an operational update, including “the Regional Government is not yet ready to trigger resettlement due to recent changes to its administration and security structure. However, it has stated that it still wants KEFI/TKGM to be ready to do so later in this current quarter”…
KEFI Minerals (KEFI) has updated on progress towards the development of its Tulu Kapi gold project, with MD Harry Anagnostaras-Adams “delighted with the significant progress we have made this month”…he is right!
KEFI Minerals (KEFI) states it “is pleased to provide” an update on the Tulu Kapi gold project, but then includes that “whilst the Government has provided a number of formal consents, at the date of this update there are a number of others that whilst having been verbally agreed, are still subject to processing formalities and thus the agreed deadlines have been extended to end January 2019”. Hmmm...
A General Meeting update from KEFI Minerals (KEFI), including detailing progress which sees “the development plan for the company's Tulu Kapi Gold Project in Ethiopia remains on schedule to start in January”…
KEFI Minerals (KEFI) has updated on the Tulu Kapi gold project in Ethiopia – including of a programme of works following “advice the company has received from the Ethiopian Federal and Regional Government agencies that the handful of remaining regulatory consents required for triggering the project are expected to be provided in the coming weeks”…
KEFI Minerals (KEFI) is pleased to report proposed Ethiopian exploration area expansion, the formal renewal of the Hawiah exploration licence in Saudi Arabia but also “a term sheet for a £2 million (plus an optional second £2 million) secured working capital loan facility”…
We noted in our last update that the last piece of the Tulu Kapi jigsaw was getting Government agreement on resettling some natives so that mine construction could go ahead. The good news is that the locals want to be paid to relocate. That piece of the jigsaw is now in place.
Kefi Minerals (KEFI) has announced that, as per the RNS of August 24, it has now signed a binding deal with ANS Mining Share Company which will see ANS invest $30 million for a 23% stake in the Tulu Kapi project (not the PLC). Another $8 million could see that stake go to 29%...
We shareholders in Kefi (KEFI) are suffering an unusual torture, that is to say we can see the prize, a final go ahead for the Tulu Kapi gold mine in Ethiopia almost within our reach but just as we extend our hands there seems to be another delay. But the big last piece of the jigsaw (confirmation of project funding) is almost upon us so in the meantime we have to be content with minor titbits.
KEFI Minerals (KEFI) “is pleased to report that it has now signed the Detailed Heads of Agreement with the Ethiopian investors” – and that they intend to invest $30-35 million (Birr-equivalent) via a company (‘ANS Resources’) which is in the process of incorporation…
One suspects that Kefi Minerals (KEFI) was pushed into this statement by the need to reassure we poor shareholders following recent share price weakness. But all is good…
Development and exploration company with projects in Ethiopia and Saudi Arabia, KEFI Minerals (KEFI) has announced results for the 2017 calendar year and emphasised “the company's projections and those of the research analysts that follow us closely show significant value generating upside to shareholders from Tulu Kapi alone, let alone from the pipeline of less mature projects which we expect will yield more value-adding opportunities”…
A very pleasant start to the week for we long suffering shareholders in Kefi Minerals (KEFI). That is to say it has announced that an Ethiopian consortium has stumped up $30 million in project finance for the Tulu Kapi gold mine, meaning it is fully funded into production.
While we have to soldier on with the useless Mrs May as our Prime Minister out in Ethiopia - where Kefi (KEFI) has its flagship Tulu Kapi gold project - a new chap, Dr Abiy Ahmed, took charge on April 2. Since then there have been various appointments of new Ministers and, as of Friday of last week, new State Ministers (Deputy Ministers). Kefi has updated that it has been in touch with all the new chaps...
Harry has never been to Kalamata even though during the war of Independence that started in 1821 his family were fighters (for Greece natch) who lived near there. As I live near there now I have suggested he pay a visit. But not until he has created some real value for we shareholders in Kefi Minerals (KEFI). Here is Harry with his plan...
KEFI Minerals (KEFI) has announced it has formally mandated its bond arranger for the placement of $160 million of listed infrastructure bonds, supporting a plan to commence Tulu Kapi project contractor mobilisation at the end of the Ethiopian wet season - which usually occurs in September…
KEFI Minerals (KEFI) has updated that its “activities have been unaffected as regards its daily interface with the various government agencies and with the community at Tulu Kapi” following the Ethiopian Prime Minister’s recent resignation and the concurrently announced State of Emergency - and that it “believes its finance plans remain unaffected”…
KEFI Minerals (KEFI) has updated on the most recent quarter, including on Tulu Kapi project financing and that “the final Tulu Kapi project models were agreed within the consortium and uploaded into the formal financing data rooms. They show some improvements for shareholders, as compared with recent company guidance”…
I was wondering what had happened to my old pal the uber posh convicted felon and cop beater, the Right Honourable "Champagne" Charlie Gibson. Well here the old boy is, interviewing Harry Adams of Kefi (KEFI) in which we own shares. Harry insists that all is on track and I think the shares are very cheap at a 2.8p bid having taken the sort of thrashing last week that Charlie thinks should be reserved for uppity members of the working classes. Finalise financing and approvals in Q1 2018 and they should race ahead. Anyhow, over to Harry and the UK's most upper class cop beater
Good news from KEFI Minerals (KEFI) with an announcement that the Federal Supreme Court of Ethiopia has dismissed its potential liability regarding an inherited claim for damages. However, the shares currently remain depressed following a project finance update...
Apparently broker Cantor Fitzgerald has strict instructions that this note is just for institutional investors and not for the great unwashed, filthy private investors. So I may get a pompous letter oiirdering me to take it down. But since we are loyal shareholders, pro tem.
Updating earlier this month on KEFI Minerals (KEFI), we noted it is the Tulu Kapi gold project of imminent interest – and the company has this week made a “Large Exploration Program for Tulu Kapi District” announcement…
A quarterly operational update from KEFI Minerals (KEFI) sees it emphasised it’s “pulling together our project funding for the Tulu Kapi gold project in Ethiopia for the closing planned for this year”. This and construction catalysts upcoming go together with a current massive discount to potential net present value…
Kefi Minerals (KEFI) has updated the market on the latest developments at the Tulu Kapi gold project in Ethiopia. All of the news is expected, but positive and reinforces our view that this is coming together well and that the value of this asset is simply not discounted in the current share price. Indeed with gold starting to move ahead, the shares look ever cheaper.
Kefi (KEFI) has announced that it has managed to reduce the amount needed to bring the Tulu Kapi project in Ethiopia into production by another $8 million. Following news of the $135 million Oryx funding last month the shortfall Kefi faced was $32 million, it is now just $24 million.
I see a note about how this research is only meant for funds with $100 million under management but as it is house broker, so clearly not impartial, Cantor's job is to promote the stock so I am sure it will not mind me giving it a wider airing. As it happens, analyst Asa Bridle is no fool so I am not ignoring what he says completely. We own the shares and think they should be trading at 13p+. But 26p? Over to the expert...
Kefi Minerals (KEFI) has its flagship operation, the Tulu Kapi gold mine ( to be) in Ethiopia. One by one the checklist of things needed to complete to get this mine into production has been dealt with.
To those who sold we could say "oh ye of little faith" but we cannot entirely blame you, Kefi Minerals (KEFI) has taken a good while to deliver but it has now done so in spades. The company has announced that it has signed terms for $135 million of project funding with Oryx Management Limited to finance and operate all the on-site infrastructure at the Company's Tulu Kapi Gold Project in Ethiopia. The planned financing package also includes funding finance charges during a 30-month construction and production ramp-up period. Game on!
For what it is worth Kefi Miinerals (KEFI) lost £1.233 million last year. That is academic. Following the recent placing and VAT refunds from the Ethiopian Government cash is not an issue. What matters and what will drive a re-rate of the shares - now at 5.57p - is progress on the development of the Tulu Kapi gold mine.
Kefi Minerals (KEFI) has published a new DFS ( Definitive Feasibility Study) for the Tulu Kapi project - its first since 2015 and its last before it completes its financing needs and heads towards the construction of an open pit gold mine in Ethiopia.
This was a done deal for ages but now it has been formalised. It's another box tick to building the mine at Tulu Kapi...
Most of us probably did not know or had forgotten that Kefi Minerals (KEFI) had a $12 million contingent legacy liability. Well that has now been 96% disappeared.
KEFI Minerals (KEFI) has announced that it has finally received a VAT refund from the Ethiopian Government of $1.3 million - call that £800,000. This is good news for two reasons.
Kefi Minerals (KEFI) has announced another box has been ticked as it moves towards constructing the Tulu Kapi gold mine in Ethiopia. It has finally agreed with the Government plans to resettle the folks who live around the mine away from operations. And with that done it states "The objective for the Government of Ethiopia and KEFI is for construction to commence in H2-17."
In this video from the storming success that was the 2017 UK Investor Show, Harry Anagnostaras-Adams, executive chairman of Kefi Minerals (KEFI), is at the podium with his colleague Jeff Rayner. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
This Kefi Minerals (KEFI) share tip at a 0.58p offer has not been a good one so far. We apologise and as shareholders share your pain. The shares are now 0.34p-0.36p. We took more shares in this fundraise at 0.33p on the view that the underlying value is c1p per share. So what has happened?
Kefi Minerals (KEFI) has been hit by the weaker gold price , issues in Ethiopia at a macro political level and by suggestions that its major shareholder ( Odey) may have its own issues. However Mr Odey is doing, we've established that he is not a seller of Kefi. If he needs to raise cash he will do so via larger more liquid positions. The other issues were addressed in a trading statement last week.
Short-termism seems to be even more prevalent amongst AIM investors these days than I can ever remember previously, and this is having an impact on the share price of any company that has any sort of delay to its business.
Brandon Hill is house broker to Kefi Minerals (KEFI) so take what it says with a pinch of salt. Having said that we too like the Tulu Kapi asset which is why at 0.375p we are very happy to own the shares. Following Kefi's recent admission of increased capex, Brandon has changed its models but still claims, in a note out today, that the shares are incredibly cheap.
Shares in Kefi Minerals (KEFI) may have fallen after the latest operational update to just 0.36p but house broker Ambrian reckons that a 6 month delay to first output and an increased upfront capex spend makes no difference to NPV. Really? Is it sure. Ambrian reckons the shares are still worth 1.5p. For what it is worth we are not selling ours and here is the note:
The value in Kefi (KEFI) lies largely in its Tulu Kapi gold prospect in Ethiopia. Sadly there seems to be a spot of bother on the ground with the President of that Country declaring a six month state of emergency as it appears that some of the natives are revolting.
KEFI Minerals (KEFI), the gold exploration and development company has published its unaudited interim results for the half-year ended 30 June 2016. The numbers are pretty irrelevant but for what it is worth...
The news has been good but the shares have slid. Conclusion? Average down at 0.46p to buy. First to the news from 5 September, an operational update. We will get another next month.
I am warned that this note is only meant to be seen by institutional clients of Ambrian not for peasants like you so no doubt some fascist fucktard of a compliance office will force me to remove it in due course. So feel free to download it and share with everyone you know just to piss off the City jobsworths. We own shares in Kefi (KEFI) so naturally I am biased. Ambrian acts for Kefi so it is biased too. With those big caveats, this is a good note IMHO.
Gold has definitely been one of the best sectors to be in so far in 2016, and whilst I’ve mainly been sticking to those companies in production, there are several smaller AIM listed outfits that are close enough to that stage to have gotten my interest.
KEFI Minerals (KEFI) “is pleased to announce that it has conditionally raised approximately £3.8 million (approximately US$5 million), before expenses, through the issue of 761,921,740 new ordinary shares… at a price of 0.5p per share”. Is it right to be so?
Things are looking up for small gold miners, especially those that are closing in on becoming producers, such as KEFI Minerals (KEFI).
Norman Ling is a NED at Kefi Minerals (KEFI) another gold play presenting at UK Investor Show. Enjoy,
KEFI Minerals (KEFI) has announced that the Tulu Kapi Gold Project in Ethiopia could be expanded from the initial 115k oz pa to around 150k oz pa by developing the underground potential of the project. Broker Brandon Hill ( house to Kefi and therefore so partial as to be ignored completely) says that the market cap of c$15 million ( at 0.4p) compares to a revised NPV of Kevi's share of Tulu Kapi of $150 million.
We note that former colleague flip flop Ben Turney is (again) urging his followers on twitter to fill their boots with small gold plays including Kefi Minerals (KEFI). We would advise you against betting the ranch on such enterprises but Kefi did have news on its funding for Tulu Kapi last week which was a move in the right direction. Its house broker Brandon Hill, predictably, enthuses...
John Meyer of SP Angel this morning comments on DiamondCorp (DCP), Kefi Minerals (KEFI), Minera IRL (MIRL), Gem Diamonds (GEMD) and Herencia Resources (HER) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in African Potash (AFPO), APC Technology (APC) and Kefi Minerals (KEFI) setting share price targets for all three stocks.
For an out-and-out counter-cyclical punt, one company that commends itself is bombed-out Kefi Minerals (KEFI), which has been assembling investors' support for developing its Tulu Kapi gold project, holding an estimated 1.7 million oz. in western Ethiopia. At 0.32p, the shares have plunged from 2006's AIM float price of 3p and a 12-month high of 1.32p, reflecting the fact that gold itself at $1,069 an ounce is not far from 50-% off its historic peaks, while the company, steered by seasoned Australian mining player, Harry Anagnastoras-Adams, former boss of fellow AIM counter EMED Mining, now renamed Atalaya, will need around $120 million (£80 million) to bring Tulu KapiI, not perhaps in the safest part of the world, into production by its targeted start date in the first quarter of 2017.
The next interview from Gold & Bears is with my old friend Harry Adams, the CEO of Kefi Minerals (KEFI) an AIM stock we own shares in but not as many as Odey Asset Management. Enjoy
You will note from the disclaimer that FIML now owns a few Kefi Minerals (KEFI) shares. Following the recent placing with Odey backing it big time this play is de-risked and we want a bit more gold exposure. Here is the presentation by Harry Adams from Gold & Bears. Enjoy.
Unloved KEFI Minerals (KEFI) has won support for developing its $120 million (££80 million) Tulu Kapi gold project in western Ethiopia from major shareholder Odey Asset Management, the £9 billion investment group founded by the redoubtable Crispin Odey. In a new financing deal, Odey will nearly double its KEFI stake to 26% by contributing to a £2.6 million fund raising at a lowly 0.3p, also backed by directors and Australian contractor Ausdrill, which will emerge with nearly 5%.
John Meyer of SP Angel this morning comments on Horizonte Minerals (HZN), Berkeley Energy (BKY), Goldplat (GDP), Kefi Minerals (KEFI) & Trans-Siberian Gold (TSG) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Anglo Pacific (APF), Caledonia Mining (CMCL), Kefi Minerals (KEFI) and Lucara Diamonds (LUC) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Having raised £2.9 million at a lowly 0.8p for its 1.6 million-oz. Tulu Kapi gold project in Ethiopia, hitherto-unloved KEFI Minerals (KEFI) is talking to a ‘short list’ of potential lenders about providing most of the reduced $120 million (£76 million) which Australian executive chairman Harry Anagnostaras-Adams reckons will be needed to take it into production in early 2017, if all goes well.
John Meyer of SP Angel this morning comments on BHP Billiton, Mariana Resources and Kefi Minerals as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
In an upbeat mood today, John Meyer of SP Angel this morning comments on Kefi Minerals, Landore Resources, Ormonde Mining, Kirkland Lake Gold and Richland Resources as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
AIM listed gold mine developer Kefi (KEFI) has released the latest drilling results from its Tula Kapi project. There were a number of RC holes drilled as part of a selective infill programme that were targeted to intercept known lode structures and test the structure of the resource model. Broker Fox Davies says the results were “excellent” the best being 9m @ 4.24g/t, 13m @ 3.21g/t, 8m @ 3.94g/t and 15m @ 2.33g/t. It goes on to explain why.
Kefi Minerals (KEFI) has released an exploration update relating to its 40% owned Jibal Qutman project in Saudi Arabia. Broker Fox Davies has analysed the results and states that they represent a “very positive outcome.”
Analyst Mark Heyhoe at brokers FinnCap seems to reckon that Kefi Minerals (KEFI) could be the small cap gold play to back as it aims to start producing within two years. He reckons that the shares, now 1.6p, are worth 5.6p.
This morning, Kefi Minerals (KEFI) announced a £2.125million placement to fund its final takeover of the Tulu Kapi gold project, from Nyota Minerals (NYO). The company then followed this with an update concerning director purchases of 4.8million shares, worth roughly £72,000. With a clearly defined plan for the rest of 2014, which incorporates Kefi’s existing cash balance of £2million, does this presenting a buying opportunity for resource speculators on AIM?
Aim listed KEFI Minerals (KEFI) has released a post-acquisition due diligence note regarding its acquisition of a 75% interest in the Tulu Kapi gold deposit late in 2013 from dog with fleas Nyota. Resource broker Fox Davies has published a note on the news which it regards as “positive.”
KEFI Minerals (KEFI) has announced its annual results for the 12 month period ending 31 December 2013. It reported a loss of £2.59 million. However, top resource broker Fox Davies has published a broker report that argues that “major strides were made towards Kefi becoming a producing company”
Direct from the Queen Elizabeth Conference Centre a video featuring a UK Investor Show 2014 presentation by Jeff Rayner, KEFI Minerals (KEFI)
Harry Anagnostaras-Adams, entrepreneurial founder and chairman of Ethiopian and Saudi Arabian gold play KEFI Minerals (KEFI), does not mince his words. He is happy to extol the prospects he insists lie within the grasp of his AIM-quoted company, following a 60 per cent resource increase at Tulu Kapi in Ethiopia.
KEFI Minerals (KEFI) has today announced further drill results and an increase in ore resources at Jibal Qutman in Saudi Arabia. The new JORC compliant resource stands at 16.7Mt grading 0.92g/t and contains 495,194oz of gold. Of this, 14.4Mt grading 0.94g/t containing 435k oz of gold is in the Indicated category with the balance being Inferred.
Schumpeter was an economist of a Marxist bent and thus his thoughts can neatly be summarised as those of a prize loon who was wrong on all counts. But his concept of creative destruction can in a variant form be used to describe the beauty of capitalism and that brings us to what looks to be a cracking deal for Kefi Minerals (KEFI) announced today. I met up with the Kefi team yesterday and was made an insider and so have had time to ponder.
KEFI Minerals (KEFI) has announced that it will buy a 75% interest in the Tulu Kapi gold deposit, which dilutes to 71.25% after allowing for the Government’s 5% free carried interest, from Nyota Resources for the sum of £4.5 million. According to a research report out from house broker Fox Davies this is an “excellent” deal.
AIM listed gold explorer Kefi Minerals (KEFI) has announced a resource upgrade from its Jibal Qutman prospect in Saudi Arabia.
Analysts from broker Fox Davies have just completed a four day trip to see the operations of AIOM listed Kefi Minerals (KEFI) in Saudi Arabia. They have produced a detailed 19 page report on the back of the visit.
Kefi Minerals is a stock I have been meaning to cover for quite some time, especially given the way that the daily chart is dominated by a narrow bear trap below former 2012 support at 2p.
One of the most beneficial ways of using charting / technical methods is not necessarily to attempt to predict what will happen next in the manner of a Mystic Meg, but actually to try and determine what has just happened.
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