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Renewal of Jibal Qutman Exploration Licence K/144
Renewal of Jibal Qutman Exploration Licence K/144.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \n \n 17 October 2022\n \n \n KEFI Gold and Copper plc\n \n (\"KEFI\" or the \"Company\")\n \n \n Renewal of the Jibal Qutman Exploration Licence K/144\n \n \n KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia is pleased to announce the renewal of the Jibal Qutman Exploration Licence (K/144) in Saudi Arabia. This licence includes the previously announced mineral resource of 733,000 oz which forms the basis of the ongoing Definitive Feasibility Study (\"DFS\") and development plan through Company's Gold and Minerals Limited (\"G&M\") joint venture in Saudi Arabia. This renewal opens the way for the commencement of field programmes and environmental studies, necessary for the award of the Jibal Qutman Mining Licence. G&M is owned 30% by KEFI and 70% by its partner Abdul Rahman Saad Al Rashid and Sons Ltd (\"ARTAR\").\n \n \n \n Highlights\n \n \n \n ·\n 'Jibal Qutman' Exploration Licence (EL K/144) has been renewed on a 5-year term covering 99.68Km2.\n \n \n ·\n Field programmes including the construction of the pioneer's camp, environmental baseline studies and geotechnical and metallurgical diamond drilling, will now commence.\n \n \n ·\n The 2Mtpa CIL (Carbon-In-Leach) DFS remains on target for completion at the end of Q4 2022/early Q1 2023, with environmental permits targeted for Q1 2023.\n \n \n · \n This licence gives the company access to a 270Km2 'Jibal Qutman Exploration Area' which also consists of the recently issued 'Jibal Qutman North' and 'Jibal Qutman Southeast' exploration licences, covering a significant portion of the highly prospective 'Nabitah-Tathlith' gold belt (see Figure 1 in the appendix, accessible here: http://www.rns-pdf.londonstockexchange.com/rns/0175D_1-2022-10-16.pdf).\n \n \n ·\n G&M has at the same time, initiated discussions with the Saudi Investment Development Fund (SIDF) surrounding project funding to be finalised once the mining licence has been awarded.\n \n \n \n \n \n \n Executive Chairman, Mr Harry Anagnostaras-Adams, commented:\n \n \n \n \"The re-issuance of the Jibal Qutman exploration licence is a critical milestone on the Jibal Qutman road to gold production. As previously announced, this licence, which covers the main Jibal Qutma...