KEFI Minerals

KEFI: 3.33 -0.03 (▼0.75%)

Delayed:2018-02-20 16:35:45
Bid Price 3.15 High Price 3.33
Ask Price 3.45 Low Price 3.15
Open Price 3.15 Spread 9.09%
Prev Close 3.30 Volume 31,833.00

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 plc is the operator of two advanced gold development projects within the highly prospective Arabian-Nubian Shield, with an attributable 1.93Moz (100% of Tulu Kapi's 1.72Moz and 40% of Jibal Qutman's 0.73Moz) gold Mineral Resources (JORC 2012) plus significant resource growth potential. KEFI targets that production at these projects generates cash flows for further exploration and expansion as warranted, recoupment of development costs and, when appropriate, dividends to shareholders. Security Type Equity

Key numbers

Latest Share Price (p) 3.30 Net Gearing (%) 9.41
Market Cap (£m) 11.08 Gross Gearing (%) 11.74
Shares in issue (m) 332.70 Debt Ratio 0.00
P/E Ratio -90.00 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 0.71
Dividend Cover 0.00 SROCE (%) -7.92
Earning per share (p) -0.04 EPS Growth (%) 80.00
52-week high / low (p) 6.00 / 0.33 DPS Growth (%)

KEFI Minerals Broker Views

Date Broker Rec. Price Old target price New target price Notes
27 Nov Beaufort Securities Speculative Buy 3.33 Reiterates
31 Oct Beaufort Securities Speculative Buy 3.33 Reiterates
09 Oct Beaufort Securities Speculative Buy 3.33 Reiterates
29 Aug Beaufort Securities Speculative Buy 3.33 Reiterates
16 Aug Cantor Fitzgerald Buy 3.33 26.00 23.00 Reiterates

KEFI Minerals Director Deals

KEFI Minerals Company News

Kefi Minerals applies for exploration approvals in Ethiopia, Saudi Arabia

Kefi Minerals said it had assembled and submitted applications for over 1,000 square kilometers of copper and gold tenements near the company's Tulu Kapi development project in Ethiopia.

It had also lodged applications for a similar-sized area near its Hawiah exploration project in Saudi Arabia.

At 2:24pm: (LON:KEFI) KEFI Minerals PLC share price was 0p at 3.69p

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KEFI gives operational update

KEFI Minerals said the focus in the quarter to the end of December had been preparing project funding and development of the Tulu Kapi gold project in Ethiopia with its partner the government of Ethiopia, contractors Lycopodium and Ausdrill/African Mining Services and preferred project financiers.

KEFI's executive chairman, Harry Anagnostaras-Adams, said: 'The Saudi Arabian government's new pro-mining policy has now been announced.

'KEFI looks forward to exploring its upgraded portfolio of targets with partner ARTAR, a leading Saudi conglomerate.

'The final Tulu Kapi project models were agreed within the consortium and uploaded into the formal financing data rooms.

'They show some improvements for shareholders, as compared with recent company guidance.

'During the next two years Tulu Kapi is to be built as a 140,000 oz pa gold producer and, at the current gold price of $1,300/oz combined with any of the contemplated financing scenarios, KEFI shareholders' beneficial interest in the net free cash flow per annum (after debt service and tax) exceeds the company's current market capitalisation.

'Our existing project pipeline in Ethiopia and Saudi Arabia provides the opportunity to build a production base of c. 200,000 oz pa of gold during Tulu Kapi's first three production years.'

KEFI also announced that it and Oryx Management Limited had mutually agreed to terminate their relationship.

It said the structure for the development of the company's Tulu Kapi project will otherwise remain the same with the other existing consortium members performing the various required roles as previously outlined.

At 8:24am: (LON:KEFI) KEFI Minerals PLC share price was -0.58p at 2.65p

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Ethiopia court dismisses all claims against KEFI

The Federal Supreme Court of Ethiopia has eliminated KEFI's potential liability regarding an inherited claim for damages.

This follows a judgement earlier this year that reduced the company's liability from US$12m to US$0.6m, which was announced on 2 May.

As previously announced and reported in the company's statutory accounts, the original claim for damages of US$12 million (approximately ETB240 million) had been lodged against KEFI in 2014.

The claim was based on the impact of exploration field activities conducted between 1998 and 2006, a period which pre-dated KEFI's involvement in the Tulu Kapi Gold Project.

At 8:40am: (LON:KEFI) KEFI Minerals PLC share price was -0.46p at 3.14p

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KEFI sees progress on Tulu Kapi financing

KEFI Minerals has confirmed that it has made considerable progress towards finalising the US$140 million infrastructure finance lease facility for the development of the Tulu Kapi gold project.

It said: 'Major milestones achieved included the documentation having been lodged with the Ethiopian government for approval and the Ethiopian minister of finance and economic development has formalised budget approval for the government to proceed with their construction and investment roles for the project.' It said the proposed financing structure had been refined in response to soundings with potential investors in the listed bonds and the placing of the bonds was now expected to start during Q1 2018, with drawdown expected soon thereafter conditional on equity capital subscription.

It said the c. US$20 million residual equity requirement would then be triggered and may comprise, in order of preference, equity issues at one or more of the intermediate, project, or parent company levels. It said project construction was expected to take place over 2018-19 and production commissioning at the end of 2019.

At 8:00am: (LON:KEFI) KEFI Minerals PLC share price was +0.01p at 4.13p

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KEFI updates financial projections

KEFI Minerals has announced updated financial projections reflecting plans to expand production.

It said that in the meantime, it continued to prepare for finance closing with mandated financier Oryx Management and the other consortium members the government of Ethiopia, Ausdrill and Lycopodium.

It said production plans had been re-cast and the average annual gold production in years 1-3 was estimated to expand from c. 115,000 ounces to c. 145,000 ounces per annum.

It said: 'At a flat $1,250/oz gold price, the payback period is about 3 years.

'This forecast is derived by management in consultation with its advisers and will continue to be refined as we approach start-up, during the 2018 operational readiness phase along with detailed engineering and procurement.'

Executive chairman Harry Anagnostaras-Adams said: 'The Tulu Kapi gold project consortium is implementing its finance closing procedures and the refined financial projections announced today reflect recently resolved expansion plans.

'Projected annual gold production has been expanded from approximately 115,000 ounces to 144,000 ounces per annum for the first three years. Measures of return have improved accordingly and indicate significant targeted value up-lift for shareholders under any modelled scenario.'

At 9:12am: (LON:KEFI) KEFI Minerals PLC share price was +0.03p at 4.5p

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