Focused on the Arabian-Nubian Shield
Stock Code:
AIM: KEFI
Company Exposure:
Gold, Copper
Project Locations:
Ethiopia, Saudi Arabia
Our aim is to create wealth for our shareholders by developing into profitable mines the gold and base metal deposits that the Company has discovered or acquired in a cost-effective manner.
KEFI was formed in 2006 as an explorer-developer focused on the Arabian-Nubian Shield, due to its outstanding prospectivity for gold and copper in particular. The Company’s mission is to discover or acquire economic gold and copper mineralization and follow through where justified with cost effective responsible mine development and production in compliance with local laws and international best practice.
KEFI partners with appropriate local organizations of standing, such as ARTAR in the Kingdom of Saudi Arabia for our Gold and Minerals Limited (“G&M”) incorporated joint venture and with the Government in Ethiopia for our jointly owned Ethiopian project company, Tulu Kapi Gold Mines Share Company (“TKGM”).
In Saudi Arabia, our Hawiah Project is a significant copper-gold discovery and follows our earlier gold discovery at Jibal Qutman, for which we have lodged a mining licence application. We have registered applications for exploration of other areas selected from our proprietary database, aggregating more than 1,000km² in Saudi Arabia.
Investment Highlights
- KEFI has a market cap of £30M versus portfolio NPV of £459M (approx.12 pence per share) at 18 April metal prices
- NPV for portfolio (using the same metal prices) increased 3X since H1 2020 due to exploration and permitting success (Saudi) and expected greater interest in Tulu Kapi (Ethiopia)
- Estimated potential Net Operating Cash Flow £137M (c.US$185M) per annum from the 3 development projects
- KEFI targets becoming a mid-tier producer with 3 projects in production by 2026, at a net production rate attributable to KEFI of 187koz gold equivalent (155koz of gold)
