Monday, Sep 10, 2012
LONDON--Kefi Minerals PLC (KEFI.LN), an AIM-quoted gold and copper exploration company with projects in the Kingdom of Saudi Arabia, Monday reported a slightly widened first-half pretax loss but said it is well funded to continue with the 12,000 meter drilling program planned on the granted exploration licenses and those expected in the second half of 2012.
MAIN FACTS:
-Loss before tax for half year ended June 30 GBP755,000 (2011: loss GBP651,000)
-loss per share 0.19 pence (2011: loss 0.18 pence)
-Exploration work has led to new gold discoveries and early drill target definition.
-Diamond drilling has started at the Selib North prospect and is due to start at the Jibal Qutman prospect in early September.
-Company's strategy is very cost-effective with all full-time personnel focused on activities in the field.
-Kefi Minerals will continue its current exploration efforts in a very cost-effective manner while evaluating further opportunities in the region.
-Board fully focused on expanding G&M's presence in the Kingdom of Saudi Arabia.
-Shares at 0800 GMT unchanged at 4 pence valuing the company at GBP17.11 million.
-Write to Ian Walker at ian.walker@dowjones.com
(END) Dow Jones Newswires
10-09-12 0811GMT
