Currently viewing Global edition

Shefa Yamim renews two permits

Shefa Yamim (LSE:SEFA) has had two of its prospecting permits in Israel renewed by the country’s ministry of energy and natural resources administrations.
Shefa Yamim renews two permits Shefa Yamim renews two permits Shefa Yamim renews two permits Shefa Yamim renews two permits Shefa Yamim renews two permits

Shefa Yamim is working towards trial mining at the Kishon Mid-Reach project's Zone 1

Staff reporter

The year-long permits cover diamond, gold and precious stones exploration over the 32,755-hectare Carmel site and the 11,290-hectare Ramot Menashe site.

Overall, Shefa has four prospecting permits in Israel, covering over 60,000 hectares, with CEO Avi Taub saying the renewals were a step towards advanced exploration in the permitted areas.

He said the magmatic bodies on Mount Carmel and Ramot Menashe were "the primary sources of the unique and rare gemstones" discovered by the company at the Kishon Mid-Reach project where it continued to progress towards trial mining in Zone 1.

The news did not impress the market, with Shefa's shares down 1.42% Tuesday to 34.6p (US44.63c).