24 Sep 2014 11:14
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Nyota Minerals Information
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Don't have an account? Click here to register.Nyota Minerals evaluating new assets after Tulu Kapi sell-down
Fri, 14th Mar 2014 13:13
Ethiopia-focused gold miner Nyota Minerals said it is looking to evaluate new assets to add to its portfolio after selling off the bulk of its stake in the Tulu Kapi Gold Project during the first half.Nyota sold 75% of its Ethiopian subsidiary, which owns Tulu Kapi, to AIM-listed KEFI Minerals for £1m in cash and shares. Along with a retained 25% direct interest in Tulu Kapi, the share portion of the deal gave Nyota a 12.5% stake in KEFI, lifting its exposure to the gold project to 34% and also giving it access to the rest of KEFI's portfolio, which includes gold assets in the Kingdom of Saudi Arabia.The 25% direct interest in Tulu Kapi requires it to share in the project's spending. However, it is not required to do so and the stake can be diluted accordingly.Nyota also wholly owns licences in the Northern Blocks in Ethiopia, 100km north of Tulu Kapi, and has appointed SRK Exploration Services to conduct a competent person's review."This marks an exciting acceleration in activity at the licences, and accordingly this area is anticipated to be a significant source for future Nyota news flow in the near term," said Chief Executive Richard Chase.Nyota reported a loss before tax of $3.07m for the six months ended December 31st, down slightly from the $3.43m loss the year before."On a corporate level, with the sale of a majority interest in Tulu Kapi now complete, the board is now in a position to also focus on the evaluation of new assets which have the potential to enhance the value of Nyota's portfolio," Chase said.BC
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16 Jun 2014 09:28
KEFI Minerals' Exploration Licence For Tulu Kapi Project Is Renewed
LONDON (Alliance News) - KEFI Minerals PLC Monday said Ethiopia's Ministry of Mines has renewed its exploration licence for the Tulu Kapi gold project until May 2015. KEFI said the ministry also is in the process of renewing the strategic exploration licences adjacent to Tulu Kapi. Th
Read more11 Jun 2014 09:31
Nyota Minerals agrees sale of final Tulu Kapi stake to Kefi Minerals
Gold explorers Nyota Minerals and Kefi Minerals have signed a conditional agreement for Nyota to sell its final 25% interest in the Tulu Kapi Gold Project to Kefi for a total of £1.5m. Under the deal, Nyota will receive £0.75m in cash and 50m new Kefi shares. This will take its stake in Kefi from
Read more11 Jun 2014 07:31
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11 Jun 2014 06:54
KEFI Minerals Buys Nyota's Remaining Stake In Tulu Kapi Gold Project
LONDON (Alliance News) - Nyota Minerals Ltd Wednesday said it has entered a deal with KEFI Minerals PLC to sell its remaining 25% in the Tulu Kapi Gold project in Ethiopia for GBP1.5 million in cash and shares, after failing to fund its cash calls for the site. The gold exploration company
Read more14 May 2014 10:35
Kefi Minerals Increases Targeted Production Rate At Tulu Kapi
LONDON (Alliance News) - Kefi Minerals PLC Wednesday said it has increased the targeted open pit mine production at its newly acquired Tulu Kapi gold project in Ethiopia. The gold and copper exploration and development company, with operations in Saudi Arabia and Ethiopia, said its targeted
Read more30 Apr 2014 16:06
Nyota Minerals Makes Significant Cuts To Overheads
LONDON (Alliance News) - Nyota Minerals Ltd Wednesday said it made significant cuts to corporate overheads in the three month ended March 31, 2014. The Australia-based gold exploration and development company with operations in Ethiopia said it made good cuts to corporate overheads in the q
Read more31 Mar 2014 09:38
Nyota Minerals Announces No Material Changes From Northern Block Report
LONDON (Alliance News) - Nyota Minerals Ltd Monday said SRK Exploration has completed its Competent Person's Report on the company's Northern Block in Ethiopia and there have been no material changes to its previously reported data for the site. The gold exploration company in East Africa s
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