Turkey-focused KEFI Minerals has agreed a joint venture to develop its Artvin gold and copper project with Canada’s Centerra Gold.

Under the agreement, Centerra must spend £1.8 million over three years, with a minimum of £310,000 in the first year, to earn a half share in the project in north east Turkey. The US group can then take its holding to 70 per cent by spending another £1.8 million.

At 2.75p, down from 4.63p last November, KEFI’s AIM-quoted shares value the company at £3.6 million.

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KEFI Minerals	AIM	£1.94m	1.50p	0.00p
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