Kefi Minerals Share Chat (KEFI)

buys are showing as sells imo

This was on shallow targets and is a test to find out the open cut potentials. This is a decent rns. What are you expecting

"massive quartz veins", "mineralization of each zone is excellent" "good potential to significantly increase current drilled resources" Enough said!

Orientfrance. Massive quartz veins does not mean the veins are massive or the quartz within the vein is massive. It has to do with the rapid rate that fluid passed through the vein. The vein widths in todays results are modest at best.

"mineralization of each zone is excellent" these types of veins are often fairly predictable in that they are generally all mineralised with the same metals in this case gold. However as we can see from the average grade the actual average grade is low and the volumes are small.

"good potential to significantly increase current drilled resources" As you would expect them to say but given the results so far I doubt they would actually spend more money on this ground as it is marginal at best.

lol. I think this will rise later mate.

At least Kefi is consistant every time they have put out a positive RNS the share price has dropped. !! Cheers

Breac

The continuity of mineralisation in each zone is excellent and grade
distribution does not display a high nugget effect, and along with mapping and
trench sampling this currently suggests that a drill spacing of 100m x 50m is
considered sufficient for the estimation of an Inferred Resource, 50m x 50m for
an Indicated Resource and 25m x 25m for a Measured Resource.

Within the area drilled to date and also within a conceptual shallow open cut
pit shell to 40-60m below surface, a preliminary first pass estimate of a
combined mineralised zone of approximately >90,000oz Au can be calculated at an
average grade of 1.25g/t Au, using a 0.2g/t Au cut-off. This is a very
preliminary estimate only and is not a JORC compliant resource at this stage.

There is very good potential to significantly increase the current drilled
resources, as the mineralisation is open along strike, to the north and south
in all three zones. Given the aerial extent of the mapped veins in the Licence
area, a target in excess of 200,000oz Au is considered to be a plausible
estimate.

Drilling has been paused to evaluate the potential of the drilled area and to
perform further investigations whether a "pilot" heap leach mining operation
would be beneficial at this stage.

Initial internal scoping studies using local labour, power and mining costs,
suggest that a "minimum pilot" deposit size, amenable to gold extraction by
heap leach, of 80,000oz to 100,000oz at 1.2g/t to 1.3g/t Au would have a cash
operating cost of $640/oz Au, require an estimated $12-14 million of capital
expenditure and generate a cash operating profit of $80 million over a 4 year
mine life.

Nice update, we finally have some initial figures to work with! Recovery levels are low however. Not sure the market will be impressed until a JORC resource is released... I do think the 90koz is a conservative estimate though

Current market is sell on news so expecting a retrace to 3.6 level imo

"massive quartz veins", "mineralization of each zone is excellent" "good potential to significantly increase current drilled resources"
Enough said!

Nic RNS. Let's see how market reacts. I have been increasingly holding on dips for long term potential.

Low volumn today which is surprising in view of the fact that an update for Jibal Qutman is almost upon us. Cheers

Breac