Aim-listed Kefi Gold and Copper is pursuing a dual listing of its shares in Saudi Arabia.
The Saudi Exchange is currently the eleventh-largest stock exchange globally, with 223 listed companies and a market capitalisation of $2.63-trillion.
Kefi says the Saudi Arabian government’s drive to expand the domestic mining and metals sectors has led to heightened interest from both domestic and regional investors looking for suitable Saudi-focused companies to invest in.
Accordingly, the company believes this dual listing may be complementary to its existing listing in London.
Kefi may consider another listing of its shares in Canada or Australia, however, the focus for now is on Saudi Arabia.
Kefi holds 15 exploration licences in Saudi Arabia, particularly in the prospective Arabia Nubian Shield, covering more than 1 000 km2.
With the company’s Jibal Qutman gold project in the definitive feasibility stage and the Hawiah copper/gold project in the prefeasibility stage, Kefi believes the time is ideal for a dual listing and expects a positive reception for what would be the first pre-production mining company on the exchange, as well as the third mining company on the exchange.
Kefi is also developing the Tulu Kapi mine in Ethiopia.