18/12/2006
As foreshadowed here last month, EMED Mining has floated its Balkan-focused KEFI Minerals with a £1.4 million AIM placing.
Australian entrepreneur Harry Anagnostaras-Adams, the boss of AIM-quoted gold and copper hopeful EMED, is chairman of KEFI, where Cyprus-based EMED’s stake has fallen to 39 per cent after the placing at 39p, handled by broker Nabarro Wells. Aussie serial investor Bruce Rowan’s Starvest investment concern has 21 per cent and management 10 per cent of KEFI, which is to be run by Jeff Raynor, EMED’s former head of Eastern European operations.
KEFI has two projects in Turkey, one covering 253 sq km in the Artvin province of north-eastern Turkey and the other covering 68 sq km in eastern Turkey’s Gumushane province, as well as a database of other Turkish prospects. In addition, the company has a 71 sq km exploration project area at Lehovo in Bulgaria.
The appeal is speculative
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