Business
Update On Licence Applications In Saudi Arabia
Update On Licence Applications In Saudi Arabia.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI 28th January 2011\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n UPDATE ON LICENCE APPLICATIONS IN SAUDI ARABIA \n\nThe Company is pleased to provide an update of the status of its Exploration\nLicence Applications (\"ELAs\"), in the Kingdom of Saudi Arabia.\n\nKEFI Minerals and JV Partner Abdul Rahman Saad Al-Rashid and Sons (\"ARTAR\")\nhave lodged a total of 21 ELAs in Saudi Arabia that cover an area of\napproximately 2,100km2.\n\nThe ELAs continue to advance through the approval process despite a number of\nminor delays. The delays are predominantly due to a number of national holidays\nin Saudi Arabia in the last quarter of 2010 and are also due to a recent\nGovernment request for minor changes to KEFI's Exploration Technical Report.\nThe Technical Report outlines the proposed five year work programme on each ELA\nsubmission. The Company cannot address these changes until a formal request has\nbeen received from the relevant department but the directors understand that\nonce the changes are made and approved the Licence will be issued.\n\nKEFI Minerals has continued to prepare for the remaining ELAs to be granted and\nexpects to be progressing exploration on the ground immediately upon granting\nof the first licence.\n\nJeff Rayner, Managing Director of KEFI Minerals, commented:\n\n\"Our primary target in Saudi Arabia is the discovery and development of +1\nmillion ounce gold and copper equivalent deposits in the under-explored\nPrecambrian Arabian Shield.\n\n\"We now have a number of licence applications at an advanced stage of the\napprovals process and are optimistic we will be able to commence field work\nsoon.\n\n\"Our exploration team is very keen to commence work in Saudi Arabia and quickly\nprogress these exciting prospects to being drilled.\"\n\nFor further information contact:\n\nJeffrey Rayner, KEFI Minerals plc Tel: +90 533 9281913\n\nKaty Mitchell, W.H. Ireland Ltd. Tel: +44 161 832 6644\n\nPhilip Davies, Fox-Davies Capital Tel: +44 (0)203 463 5010\n\nMichael Kinirons, Bishopsgate Communications Tel: +44 20 7562 3395\n\nBackground to the ELAs and Minerals Exploration in Saudi Arabia\n\nSaudi Arabia is a country with a long history of mining that dates back over\n5,000 years and is now set for resurgence under modernised mining laws that\nencourage investment.\n\nThe ELAs l...