🕐28.09.10 - 11:54 Uhr
KEFI Minerals: Interims reveal continuing focus on fast-tracking gold and copper discoveries
Good morning,
KEFI Minerals, the AIM-quoted gold and copper exploration company, with
projects in Turkey and Saudi Arabia, is pleased to announce its unaudited
interim results for the half-year ended 30 June 2010.
*Highlights*
- Progress of exploration of several projects in Turkey.
- Gold and Minerals (“G&M”) Joint Venture in Saudi Arabia has lodged 21
Exploration Licence Applications (“ELAs”) covering approximately 2,100km2
.
- Saudi Arabia’s Deputy Ministry for Mineral Resources (“DMMR”) has
visited six of 21 ELAs to date.
- Several applications lodged by G&M Joint Venture at advanced stage;
expected to be granted in the near future.
- Yatik Project in Turkey sold for net cash consideration of US$150,000
and 2.5% Net Smelter Return royalty.
- Full ownership of Artvin Project in Turkey will revert to KEFI Minerals
following withdrawal of Centerra Gold Inc.
(“Centerra”) from the Artvin
Joint Venture.
- Loss for half-year period totalled £369,000 (cf.
£692,000 for half-year
2009).
KEFI Minerals’ Managing Director, Jeff Rayner, commented:
“KEFI Minerals continues to progress effective exploration programmes that
aim to fast-track gold and copper discoveries and the eventual development
of new mines.
“These prospects, combined with strengthening gold and copper prices,
provide an exciting opportunity to create exceptional value for
shareholders.
The Company will continue to maintain its tight focus and risk
management.
“KEFI Minerals is now established in two countries within a great
metallogenic region.
We will continue to explore in a cost-effective manner
with the intention of making significant discoveries.”
Kind regards,
Tom
*Tom Walker│ Account Executive*│ Bishopsgate Communications Ltd
DDI 0207 562 3369 │ Mobile 07919145838
3rd Floor, 3 London Wall Buildings, London Wall, London, EC2M 5SY
Website www.bishopsgatecommunications.com
Follow us on Twitter www.twitter.com/bgatecomms
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