Edison initiates coverage on KEFI Minerals
KEFI Minerals is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield - principally the 95%-owned Tulu Kapi project in Ethiopia and, to a lesser extent, the 40%-owned Jibal Qutman project in Saudi Arabia.
KEFI acquired Tulu Kapi in western Ethiopia for US$9.7m, or an average of US$5.14 per contemporary resource ounce. By subsequently reinterpreting the ore body in the light of new data, it has been able to devise a mine plan that extracts essentially the same quantity of metal by mining only half the tonnage of rock. As a consequence, upfront capital expenditure has been halved and the economics of the project transformed.About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority .
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.