KEFI is now an explorer, developer and hands-on operator of mining joint ventures for influential and financially strong local partners in the Arabian Nubian Shield, both in Ethiopia and in Saudi Arabia. KEFI’s beneficial interest in the asset being developed has NPV US$164 million (approximately £103 million), about six times the current market capitalisation.
This does not include further potential upside offered by exploration underground where extensions of the 5.6 g/t Indicated Resource remain untested, in the adjacent Tulu Kapi district, where several areas of drill-intercepted preresource mineralisation require follow-up and in Saudi Arabia where drilling is currently intercepting massive sulphides in a large VMS occurrence. Senior operations management and contractors have decades of successful track record in Africa
Primary ticker: AIM:KEFI
Stage of development: Exploration, Development
Primary minerals: Gold