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KEFI Minerals PLC

Appointment of Non-Executive Director

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RNS Number : 8311J
KEFI Minerals plc
22 August 2019
 

22 August 2019

KEFI Minerals plc

("KEFI" or the "Company") 

Appointment of Non-Executive Director

KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce the appointment of Mr. Richard Robinson to the Company's Board as a Non-Executive Director with immediate effect.

 

Richard Robinson, a resident of France and Belgium over the past twenty years, has been involved for over 40 years in the international gold, platinum, base metal and coal industries.  He spent over 20 years at Gold Fields of South Africa Ltd ("GFSA") where he had executive responsibility for gold operations, gold exploration, international operations, the base metals and coal operations, and all the group commercial activities.  He chaired the strategic committee leading to the successful merging of GFSA's and Gencor's gold assets to form Gold Fields Limited.

 

Having left GSFA in 1997, Richard has been a director of a number of public and private companies in the natural resources sector.  Previous roles include Managing Director of Normandy LaSource SAS, a joint venture between Normandy Mining Limited of Australia and the French State (Bureau de Recherches Géologiques et Minières, or BRGM); Non-Executive Chairman of the private Swiss multinational, Metalor Technologies International SA, one of the world's leading precious metals refining and fabrication companies where he led the sale of the group to private equity; and Non-Executive Director of Recylex SA, a Euronext listed company involved in base metal recycling, refining and high purity special metals.

 

Harry Anagnostaras-Adams, Executive Chairman, commented: "We are very pleased to welcome Richard to the Board of KEFI.  He brings with him a wealth of relevant experience.  In particular, his work in the international gold sector and in major international project development will be highly beneficial to KEFI, as we prepare for start-up at the Company's Tulu Kapi Gold Project in Ethiopia and the restart of exploration in Saudi Arabia."

 

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Richard Lewin Robinson, aged 66:

 

 

Current Directorships

Directorships held over the past 5 years

Belgium for Success

 

None

 

Richard Robinson holds no ordinary shares in the capital of the Company

 

Save as disclosed above, there are no other matters which are required to be disclosed with regards to the appointment of Richard Robinson in accordance Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

 

 Enquiries

KEFI Minerals plc

 

Harry Anagnostaras-Adams (Managing Director)

+357 99457843

John Leach (Finance Director)

+357 99208130

 

 

SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)

+44 (0) 20 3470 0470

Jeff Keating, Soltan Tagiev

 

 

 

Brandon Hill Capital Ltd (Joint Broker)

+44 (0) 20 7936 5200

Oliver Stansfield, Jonathan Evans

 

 

 

IFC Advisory Ltd (Financial PR and IR)

+44 (0) 20 3934 6630

Tim Metcalfe, Florence Chandler

 

 

Notes to Editor

KEFI Minerals plc

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 seven-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, 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.

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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