KEFI Minerals

KEFI: 4.50 0.03 (▲0.56%)

Delayed:2017-09-26 10:13:30
Bid Price 4.25 High Price 4.52
Ask Price 4.75 Low Price 4.25
Open Price 0.00 Spread 11.11%
Prev Close 4.48 Volume 250,983.00

KEFI Minerals Share Price Chart


Historic - 1 year

KEFI Minerals Share Price Information

Name KEFI Minerals Epic KEFI
Sector Mining ISIN GB00BD8GP619
Activites KEFI Minerals commenced trading on AIM in December 2006 and was formed with the aim of creating shareholder value through the discovery and exploitation of gold and copper deposits. In the Kingdom of Saudi Arabia, KEFI Minerals has a 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% interest and the joint venture's primary target is the discovery and development of a >1 million ounce gold deposit in the under-explored Precambrian Shield in Saudi Arabia. In Turkey, KEFI Minerals continues to explore its current portfolio of properties prospective for copper and gold deposits as well as evaluating further opportunities. Security Type Equity

Key numbers

Latest Share Price (p) 4.50 Net Gearing (%) 9.41
Market Cap (£m) 14.91 Gross Gearing (%) 11.74
Shares in issue (m) 332.70 Debt Ratio 0.00
P/E Ratio -121.08 Debt-to-Equity Ratio 0.00
Divs per share (p) 0.00 Assets / Equity Ratio 1.13
Dividend Yield (%) 0.00 Price to book value 0.96
Dividend Cover 0.00 SROCE (%) -7.92
Earning per share (p) -0.04 EPS Growth (%) 80.00
52-week high / low (p) 6.00 / 0.24 DPS Growth (%)

KEFI Minerals Broker Views

Date Broker Rec. Price Old target price New target price Notes
29 Aug Beaufort Securities Speculative Buy 4.50 Reiterates
16 Aug Cantor Fitzgerald Buy 4.50 26.00 23.00 Reiterates
10 Aug Beaufort Securities Speculative Buy 4.50 Reiterates
17 Jul RFC Ambrian Buy 4.50 8.80 9.00 Reiterates
17 Jul Beaufort Securities Speculative Buy 4.50 Reiterates

KEFI Minerals Director Deals

KEFI Minerals Company News

KEFI pleased with progress at Tulu Kapi

KEFI Minerals is very pleased with the progress being made at Tulu Kapi gold project in Ethiopia having agreed with its partners both the execution plan to close the required financing and the project works schedule.

It said all VAT refunds had now been received in full (equivalent of c. £2.5 million, and KEFI and Oryx Management Limited, the mandated project financier for the project, had agreed the finance execution plan and assembling documentation across all the fronts for finance closing later in 2017.

Other highlights:

- Approved that selected preliminary field works start as soon as the wet season ends in September 2017, such as geotechnical drilling of the planned sites for the plant and dams, to keep to fastest Project works schedule for production commencing late 2019.

- KEFI (via its wholly-owned subsidiary KEFI Minerals (Ethiopia) Limited and the Federal Government of the Federal Democratic Republic of Ethiopia have launched the new company to hold the project, Tulu Kapi Gold Mines Share Company Limited.

- Based on current estimates of capital spending and capital contributions, respective shareholdings will be 75-80% KEFI and 20-25% Government.

- The Board of TKGM includes two representatives from the Government and four from KEFI. Of the KEFI appointees Harry Anagnostaras-Adams (KEFI executive chairman) has been appointed chairman and Wayne Nicoletto (KEFI chief operating officer) has been appointed Managing Director.

- TKGM is now implementing the agreed project plan, including:

* Transferring the project mining licence (the minerals rights and the overarching permit to develop and operate) from KME to TKGM.

* Ancillary consents from local and regional authorities for the detailed Project construction activities such as road widening, power connections and waste management.

* Resolving with local authorities as regards infrastructure for the resettlement sites.

* Calculating the final compensation payable for displaced landholders in light of the now completed updates of property surveys and the collected independent data for landholders' product yield and market prices.

Anagnostaras-Adams said: "We are very pleased with the progress being made at Tulu Kapi. We have agreed with our partners both the execution plan to close the required financing and the Project works schedule.

"The launch of project company TKGM has cemented our relationship with the Government and everyone is pushing to complete the financing and get into development and production.

"We look forward to providing further updates as matters progress in the coming weeks and months."

At 8:11am: (LON:KEFI) KEFI Minerals PLC share price was +0.13p at 5.38p

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FLASH: KEFI pleased with progress at Tulu Kapi

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Broker Forecast - Cantor Fitzgerald issues a broker note on KEFI Minerals PLC

Cantor Fitzgerald today reaffirms its buy investment rating on KEFI Minerals PLC (LON:KEFI) and cut its price target to 23p (from 26p).

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KEFI welcomes lifting of Ethiopia state of emergency

KEFI Minerals said it was pleased to note that the government of Ethiopia had announced the lifting of the state of emergency implemented in October 2016, following a vote in the country's parliament.

KEFI said it continued to progress its Tulu Kapi gold project in western Ethiopia towards development, with support from the Ethiopian government.

It added thatthe World Bank forecast Ethiopia to be the world's fastest growing economy in 2017 in its latest edition of 'Global Economic Prospects' published in June 2017.

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FLASH: KEFI welcomes lifting of state of emergency in Ethiopia

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