KEFI gold and copper24 Jul 2020 09:01
London South East
Share PricesKefi Minerals Share PriceKefi Minerals Regulatory NewsPositive Developments in Saudi Arabia
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Share Price Information for Kefi Minerals (KEFI)
London Stock Exchange
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Share Price:
1.60
Bid:
1.605
Ask:
1.63
Change:
0.00 (0.00%)
Spread: 0.025 (1.56%)Open: 1.65High: 1.715Low: 1.52Yest. Close: 1.635
KEFI Live PriceLast checked at 07:55:20
Positive Developments in Saudi Arabia
Thu, 16th Jul 2020 07:30
RNS Number : 2011T
KEFI Minerals plc
16 July 2020
16 July 2020
KEFI Minerals plc
("KEFI" or the "Company")
Positive Developments in Saudi Arabia
Material increase in Maiden Hawiah Resource now expected
Saudi Arabia's Cabinet Approves New Mining Law
Highlights
· Larger maiden resource of c. 20 million tonnes now expected in August 2020, an increase of 66% from the previous target of 12 million tonnes
· This is based on completion of the first 9 months drilling and subsequent analyses and interpretation, covering a strike of over 4km to a depth of up to 350m
· Hawiah remains open along strike and depth, where some higher grade intercepts have also been encountered, for further follow-up
· Expected average copper equivalent grade of c. 2% copper, representing c. 400,000 tonnes of contained metal, with an in situ value in excess of US$2.5bn at current market prices
· Saudi Cabinet recently approved new mining investment law, which should help unlock value at KEFI's additional Saudi projects, including the Jibal Qutman Gold Project
Plus TK were gold is looking to break the historic highs. 30milmcap is tiny at this point and the Saudi JORC resource will add 200mil+ to the KEFIs NPV, adding to TKs giving us a 400mil+ npv