RSS UpdatesCompany Information for Kefi Minerals Plc
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 AIM; KEFI
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Company Statement
KEFI Minerals has established itself as an innovative gold and copper exploration company.
Our strategy is to concentrate initially on exploring the prolific minerals endowment of Turkey and Saudi Arabia. We are primarily targeting large epithermal gold or porphyry gold-copper systems analogous to several +1 million ounce deposits recently discovered and developed in the Western Anatolia Region of Turkey.
KEFI Minerals’ exploration strategy is based on the following concepts:
- Combining strong international and local knowledge in exploration models and techniques;
- Selecting areas within prospective stratigraphic and structural settings with a high potential for gold mineralisation in particular;
- Exploring projects as a package rather than individual isolated prospects;
- Rapidly identifying, prioritising and assessing targets; and
Creating effective working relationships and further developing knowledge using an established local team.
KEFI Minerals commenced trading on AIM (Code “KEFI”) in December 2006. EMED Mining contributed initial assets and retains a 24% shareholding.
Current Operations
KEFI Minerals has the following projects in Turkey:
- Artvin and Gumushane in in northeastern Turkey;
- Derinin Tepe and Muratdag in western Turkey; and
- Bakir Tepe in southwestern Turkey.
All of these projects are 100% owned by KEFI Minerals, except for Artvin. KEFI Minerals also owns an extensive exploration database which contains information about approximately 100 further prospective sites in Turkey. This database provides the Company with a competitive advantage to identify prospective areas for project generation in Turkey.
Eastern Pontides Projects
KEFI Minerals’ Artvin and Gumushane Projects are in the Eastern Pontides volcanic province in northeastern Turkey, which forms part of the Tethyan metallogenic province with numerous historically mined deposits and mines now being developed.
The Eastern Pontides belt has a high level of geological prospectivity for finding three major styles of mineralisation - porphyry copper-gold deposits, volcanic-hosted massive sulphides (“VHMS”) base metal deposits, and epithermal gold-silver deposits.
VHMS deposits hosted in the region include Cayeli with reserves of 11.6 million tonnes at 3.6% copper, 5.9% zinc, 0.6g/t gold and 49g/t silver; Murgul with reserves of 80 million tonnes at 1.1% copper; and Cerateppe with reserves of 1.6 million tonnes at 8.8% copper, 1.1% zinc, 1.4g/t gold and 33g/t silver.
The Artvin Project comprises fifteen exploration licences covering an area of 253 square kilometres on predominantly state forestry land. KEFI Minerals is the first company to utilise modern exploration methods to systematically explore the Artvin Project area.
The Gumushane Project comprises four exploration licences covering an area of 68 square kilometres on predominantly farming land in the Gumushane province of northeastern Turkey. KEFI Minerals has evidence of gold anomalies identified by stream geochemical surveys and zones of extensive hydrothermal alteration have been recognised in the project area, as well as coincident areas of interest identified in the Aster data interpretation.
The Gumushane Project is located within a geologically favourable Jurassic volcanic-sedimentary sequence. The area is conducive for potential bulk tonnage replacement and epithermal style mineralisation. Very little previous exploration has taken place in this area and it should be regarded as grassroots type exploration.
Western Anatolia Projects
KEFI Minerals has the Derinin Tepe and MuratdagProjects in the Western Anatolia region of Turkey.
Surface exploration undertaken by KEFI Minerals at the Derinin Tepe Project during 2007 identified gold-silver mineralisation in low-sulphidation epithermal quartz veins with cumulative strike lengths of over 2km and widths of up to 8m at surface. Extensive ancient workings were exposed by trenching, revealing 100-200m strike lengths of underground workings in the West, Central and East veins. Previous assays from channel-chip sampling and grab sampling undertaken by KEFI Minerals had returned up to 152g/t gold and 1,320g/t silver from these outcropping veins.
The Bakir Tepe Project in southwestern Turkey was acquired in mid-2008 and is considered prospective for Cyprus–type volcanogenic massive sulphide (VMS) style of mineralisation.
Saudi Arabia
The KEFI Minerals team has been evaluating potential joint ventures and prospects in The Kingdom of Saudi Arabia since 2008.
The Company’s geologists have compiled a large database of mineral occurrences and historic workings, geological maps, aeromagnetic surveys and remote sensing data for this region. This database has allowed for rapid identification and quality assessment of extensive ancient workings and selective targetting for potentially major mineral deposits.
In May 2009, KEFI Minerals announced the formation of a new minerals exploration joint venture with leading Saudi construction and investment group Abdul Rahman Saad Al-Rashid & Sons Company Limited (“ARTAR”). KEFI Minerals is the operating partner with a 40% shareholding of Gold & Minerals ("G&M") Joint Venture with ARTAR holding the other 60%.
KEFI Minerals will provide to G&M Joint Venture technical advice and assistance, including personnel to manage and supervise all exploration and technical studies. ARTAR will provide and administrative advice and assistance to ensure compliance with all governmental and other procedures.
G&M Joint Venture Prospects
The G&M Joint Venture's primary target will be the discovery and development of a >1 million ounce gold deposit in Saudi Arabia’s under-explored Precambrian Shield.
KEFI Minerals and ARTAR have lodged 21 Exploration Licence Applications (“ELA”) with each ELA covering an area of approximately 100km2. Exploration Licences are granted for a period of 5 years and can be renewed for a further 5 years.
All of the ELA areas contain ancient workings and some have visible gold in quartz veins. The ELA’s are targeting both gold and copper-gold mineralisation
KEFI Minerals plans rapidly progress these prospects to the drilling stage as well as continuing project generation work in Saudi Arabia and apply for further Exploration Licences.
About ARTAR
ARTAR is a Saudi Arabian conglomerate investing in different sectors such as construction, real-estate, agriculture and health care in The Kingdom of Saudi Arabia and abroad.
ARTAR is engaged in engineering, construction of large shopping mall complexes, hospitals and high rise and employs more than 17,000 people.
The minerals sector has recently been added to ARTAR’s business expansion plans.
Geographical Spread
Turkey , Saudi Arabia
Board of Directors and Key Management
| Harry Anagnostaras-Adams, Non-Executive Chairman |
| Jeff Rayner, Managing Director |
| Ian Plimer, Non-Executive Deputy Chairman |
| John Leach, Finance Director (part-time) |
Company AddressCemal Gursel Caddesi Yali Apt., No.304 Kat:4 D.9
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Additional Address/Key ContactJeff Rayner, Managing Director |
CapitalAs at 13 July 2010, KEFI Minerals had on issue:
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Annual General MeetingTBA | Year End31 December |
Nominated BrokersFox-Davies Capital | Nominated AdvisorsWH Ireland |
Major Shareholders
| EMED Mining | 24% |
| Starvest Plc | 7% |
| Prism Nominees Limited | 6% |
| Share Nominees Ltd | 4% |
| TD Waterhouse Nominees (Europe) Limited | 3% |
| Directors, Management and their families | 2% |
Related News
27/05/10 - Kefi Minerals Begins To Get A Grip On The Bureaucratic Machine In Saudi Arabia06/01/10 - Kefi Minerals Rolls Onwards, With Drilling In Turkey And Progress On Permits In Saudi Arabia
07/07/09 - Kefi Minerals Makes Steady Progress In Turkey, And Continues To Investigate The Vast Potential Of Saudi Arabia
28/05/09 - Kefi Teams Up With A Major Partner To Scoop Up Scores Of Pre-Cambrian Gold Exploration Licences In Saudi Arabia
Most Recent Statement
27/07/10 - Directors Dealings25/05/10 - Result of AGM
30/04/10 - Results of drilling at Bakir Tepe Project
28/04/10 - Final Results
15/04/10 - Sale of Yatik Gold Project
14/04/10 - Update on activities in Saudi Arabia