Business
Potential Strategic Partnerships
Potential Strategic Partnerships.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \n19 February 2009\n\n KEFI Minerals plc \n\n (\"KEFI\" or the \"Company\") \n\n Potential Strategic Partnerships \n\nIn 2008, the Company expanded on its strategy of forming strategic alliances in\nthe key regions in which it operates. This began with its strategic alliance\nwith EMED Mining Public Limited (\"EMED\") which has provided management,\ntechnical and financial support to the Company and also led to the formation in\nTurkey of the Artvin Joint Venture at the Artvin project with partner Centerra\nGold Inc. of Canada. As announced on 28 October 2008, under the terms of the\njoint venture, which is managed by the Company, Centerra has the opportunity to\nearn an interest in the Artvin project in return for funding exploration costs\nup to a specified amount. This arrangement not only accelerated the work at\nArtvin but, at the same time, conserved the Company's resources.\n\nIn 2009, this approach is set to continue. The potential for gold and other\nmineral exploration in Saudi Arabia is of interest to the Company and a\nstrategic alliance or joint venture with an appropriate local partner could be\nsignificant in any future success of the Company in this region. The Company is\nalready in advanced discussions with possible additional strategic partners in\nTurkey and in the Kingdom of Saudi Arabia.\n\nFurthermore, as shareholders are aware, in November 2006, KEFI executed a\nnon-compete agreement with EMED pursuant to which KEFI agreed not to explore\nfor natural resources in certain countries in which EMED is interested (the\n\"Agreement\"). The Kingdom of Saudi Arabia is one country governed by the\nAgreement. However, KEFI and EMED have today entered into an agreement pursuant\nto which EMED has agreed to waive its rights under the Agreement in respect of\nthe Kingdom of Saudi Arabia only, in return for KEFI granting to EMED a right\nof first refusal on any projects that may develop in Saudi Arabia in which the\nCompany may not wish to participate.\n\nFor further information contact:\n\nJeffrey Rayner,\n\nKEFI Minerals plc Tel: +90 533 928 1913\n\nDavid Youngman/Katy Mitchell\n\nW.H. Ireland Ltd. Tel: +44 (0) 161 832 6644\n\nNick Rome\n\nBishopsgate Communications Tel: +44 (0) 20 7562 3350\n\n\n \n ","length":2528,"tagName":"div"}]