New RNS out from Kefi regarding the management team options scheme covering the next three years.
The interesting thing about this update is that why would the management team be bothering to get all of this in place if the funding for the new mine wasn’t looking like it’s falling into place. The Chairman has stated that the confirmation of the funding is due at the end of this month (March) and so let’s see what happens.
One thing to remember, this company is currently valued at around £40m and once the funding is confirmed it will start work on the initial gold mine in Ethiopia. This will then unlock the process to start properly exploring the approx. 1,000 sq km around the new mine that Kefi has been granted mining rights to. Within this region they have already identified at least one promising looking potential (neighbouring) deposit that could easily become a second mine. There is also the huge copper deposit that they are currently busy drilling in Saudi Arabia in order to try to confirm the full extent of it, as well as the 30 other identified sites that they licensing and looking to start drilling over the coming months/years.
And people wonder why I bother spending a lot of my time investigating and analysing the small cap mining space. Let’s see if this can top the FTBaggers list.
DYOR and best of luck out there.