London Stock Exchange welcomes Shefa Yamim (A.T.M) Ltd to the Main Market
Shefa Yamim (A.T.M.) Ltd (“Shefa Yamim” or the “Company”), TIDM: SEFA, a minerals company focused on the exploration for precious stones in Northern Israel, was today welcomed to the Main Market of the London Stock Exchange. Founded in 1999, Shefa is the only gemstone explorer in Israel, operating in exploration and prospecting licenses covering 60,000 hectares centred on the Mount Carmel and the Kishon River catchments.
The Company successfully raised gross proceeds of £4.15 million. The funds will be used to advance the Company’s mining project, including the completion of a pre-feasibility study, at the Kishon Mid-Reach multi deposit placer and advance its strategy to grow the business organically with a view to generating value for Shareholders through the development of the Kishon Mid Reach project, as well as potentially through the development of additional projects.
To date, the Company has identified three zones in the Kishon Mid-Reach where it is focusing on mapping, drilling of boreholes and taking bulk samples. Shefa Yamim intends to continue its exploration programme with the aim of delineating a mineral resource that is compliant with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the “SAMREC”).
Shefa Yamim aims to capitalise on the increased demand in the coloured gemstone market, driven primarily by coloured gemstones becoming more fashionable, with record prices being paid for jewellery at top auction houses. Emerging markets account for a significant portion of this demand, notably from China and India, which are experiencing growth in the middle classes and greater disposable income.
Shefa Yamim’s experienced Board and management team believe that they are well positioned to take advantage of the increased demand for gemstones by leveraging their expertise in the marketing of precious stones and unique nature and diversity of the gemstones found at the Company’s property, to grow the Company further.
Abraham ‘Avi’ Taub, CEO of Shefa Yamim (A.T.M.) Ltd, commented:
"We are delighted to be here today at the London Stock Exchange to celebrate our entry to the Main Market. This milestone marks a significant step in Shefa Yamim’s development. The Kishon Mid-Reach project is unique in terms of its multi-commodity assemblage, which include Sapphires, Rubies as well as natural moissanite, brighter than diamonds and currently only produced artificially, and the Carmel Sapphire™, found only in Mount Carmel. Our focus is to advance the Kishon Mid-Reach project to pre-feasibility study with the goal of commencing production by 2020.”
VSA Capital Limited are acting as the Company’s financial adviser, brokers and placing agent. The Company’s legal adviser as to English law is Charles Russel Speechlys LLP and the financial PR adviser is Luther Pendragon Limited.