Response to Public Enquiry on GMCO
Kefi Gold and Copper PLC announced that its 13%-owned Gold and Minerals SLA (GMCO) is in discussions with Saudi conglomerate AJ Lan Group for a proposed exploration joint venture outside GMCO's current portfolio, which is intended to complement its existing ventures with Hancock Prospecting and its own exploration grounds, reflecting growth in the Saudi minerals sector and GMCO's discovery track record.
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KEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, provides a response to queries regarding the Company's 13% owned Gold and Minerals SLA ("GMCO").
At the conference "Future Minerals Forum" in Riyadh, Saudi Arabia last week, GMCO (13%-owned by KEFI) advertised that it is working with Saudi conglomerate AJ Lan Group on a proposed exploration JV on an area outside the boundaries of GMCO's existing portfolio. Details will be reported when the proposed joint venture is confirmed and formalised.
KEFI Founder and Executive Chairman, Harry Anagnostaras-Adams, commented:
"Whilst not yet confirmed and formalised, the proposed exploration joint venture between GMCO and AJ Lan Group is intended to complement GMCO's recent joint venture with Australian major Hancock Prospecting as well as its own 100%-owned exploration ground.
"Such initiatives are symptomatic of the growth in the Saudi minerals sector and GMCO's successful track-record of discovery, which KEFI was originally responsible for and is now exceptionally proud of."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.