# KEFI Minerals plc Appoints SP Angel Corporate Finance LLP as Joint Broker

- Link: https://www.directorstalkinterviews.com/kefi-minerals-plc-appoints-sp-angel-corporate-finance-llp-as-joint-broker/412758813
- Published: 2018-09-21T07:12:13+01:00
- Author: Giles Arbor

**KEFI Minerals Plc** ([LON:KEFI](https://www.directorstalkinterviews.com/company/kefi-gold-and-copper/kefi.l)),
the gold exploration and development company with projects in the Democratic Republic
of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce that SP Angel
Corporate Finance LLP has been appointed joint broker to the Company, alongside 
Brandon Hill Capital Ltd.

SP Angel has today been granted a warrant over 2 million ordinary shares of the 
Company exercisable at 2.5p up until 30 September 2023.

KEFI Minerals plc also use [IFC Advisory Ltd](https://www.investor-focus.co.uk/)
for financial PR and IR.

KEFI is focused primarily on the advanced Tulu Kapi Gold Project development project
in Ethiopia, along with its pipeline of other projects within the highly prospective
Arabian-Nubian Shield. KEFI targets that production at Tulu Kapi generates cash 
flows for capital repayments, further exploration and expansion as warranted and,
when appropriate, dividends to shareholders.

**KEFI Minerals in Ethiopia**

Ethiopia is currently undergoing a remarkable transformation both politically and
economically.

The Tulu Kapi gold project in western Ethiopia is being progressed towards development,
following a grant of a Mining Licence in April 2015.

The Company has now refined contractual terms for project construction and operation.
Estimates include open pit gold production of c. 140,000oz pa for a 7-year period.
All-in Sustaining Costs (including operating, sustaining capital and closure but
not including leasing and other financing charges) remain c. US$800/oz. Tulu Kapi’s
Ore Reserve estimate totals 15.4Mt at 2.1g/t gold, containing 1.1Moz.

All aspects of the Tulu Kapi (open pit) gold project have been reported in compliance
with the JORC Code (2012) and subjected to reviews by appropriate independent experts.

A Preliminary Economic Assessment has been published that indicates the economic
attractiveness of mining the underground deposit adjacent to the Tulu Kapi open 
pit, after the start-up of the open pit and after positive cash flows have begun
to repay project debts. An area of over 1,000 square kilometres adjacent to Tulu
Kapi has been reserved for exploration by KEFI upon commencement of development,
with a view to adding satellite deposits to development and production plans.

**KEFI Minerals in the Kingdom of Saudi Arabia**

In 2009, KEFI formed G&M in Saudi Arabia with local Saudi partner, Abdul Rahman 
Saad Al Rashid & Sons Company Limited (“ARTAR”), to explore for gold and associated
metals in the Arabian-Nubian Shield. KEFI has a 40% interest in G&M and is the operating
partner.

ARTAR, on behalf of G&M, holds over 20 EL applications. ELs are renewable for up
to three years and bestow the exclusive right to explore and to obtain a 30-year
exploitation (mining) lease within the area.

The Kingdom of Saudi Arabia has announced policies to encourage minerals exploration
and development, and KEFI Minerals supports this priority by serving as the technical
partner within G&M. ARTAR also serves this government policy as the major partner
in G&M, which is one of the early movers in the modern resurgence of the Kingdom’s
minerals sector.

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