News

May 28, 2009

Kefi Teams Up With A Major Partner To Scoop Up Scores Of Pre-Cambrian Gold Exploration Licences In Saudi Arabia

By Alastair Ford

There are very few companies that have been well served by a policy of silence over the last 12 months, no matter how bad the news or how dark the hour. But spare a thought for Kefi Minerals. Kefi’s recent silence has not been the result of any fear or loathing in the market place, nor have its directors turned gun shy. Indeed Harry Anagnostaras-Adams, one of the key figures in the background, as non-executive chairman and the man in charge of 32 per cent Kefi shareholder EMED Mining, has very much been banging the drum for Kefi in his spare moments, talking up the company’s new strategy of pursuing a first mover advantage in exploration in Saudi Arabia. Non executive deputy chairman Ian Plimer has also been fairly visible too, lately, not least because he’s promoting a new book. But he’s also a promoter of Kefi, and does so happily and with gusto. And the man really at the helm, Jeff Rayner, Kefi’s managing director, has also remained very visible throughout all the recent market turmoil. The trouble is, Kefi has till now been fairly limited as to what it could actually say. You could almost sense Jeff’s frustration running into him at Minesite forums or other trade shows, because it was clear he had something juicy that he wanted to talk about, but for regulatory or commercial reasons was prevented from doing so. But at last it’s all out in the open.

Yes, it’s almost a palpable relief to be able to talk to Jeff about substantive developments inside Kefi, when Minesite rings him up after a particularly useful looking announcement was issued on the morning of Thursday 28th May. “We’ve been working quietly in the background for the last 12 months”, Jeff concedes. But as far as positioning a relative minnow like Kefi is concerned the reticence now looks well worth it. The company has teamed up Abdul Rahman Saad Al-Rashid & Sons Limited, a...