Kefi Minerals, an AIM-listed gold and copper exploration company, has been awarded two mineral exploration licences in Saudi Arabia.
The licences, which are for a period of five years, are located in the Central Arabian Gold Region, and have been awarded to a joint venture company in which
Kefi Minerals has a 40% interest. Kefi is the operating partner in the joint venture.
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Jeff Rayner, Managing Director of Kefi Minerals said: "Our geologists will commence field work immediately at Hikyrin and Hikyrin South, and continue to progress exploration work at the new gold finds at Selib North."
The share price rose 7.41% to 4.35p by 08:26.
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