• Miner focused on precious stones
• Projects focused in Northern Israel
• Internationally recognised new mineral, Carmeltazite, discovered by the company
What Shefa Yamim does
Shefa Yamim (ATM) Ltd (LON:SEFA) is an Israel-based exploration mining company with its operations orientated to the north of the country.
The firm is primarily a precious stones miner, with its drilling and sampling programmes having discovered rubies, sapphires, Carmel sapphires, and diamonds.
Shefa says its main strategy is to focus on exploration targets that it deems to have the highest upside and can be brought into production at a relatively low cost.
What Shefa Yamim owns
The company owns two prospecting and one exploration permit in northern Israel, covering a total area of 614 square kilometres.
The principal exploration targets are the primary volcanic sources on Mount Carmel and the secondary sources of valley-filled sediment deposits throughout the Kishon River.
At Mount Carmel, the company has identified four sources in its exploration permit: Rakefet Magmatic Complex (RMC), Muhraka, Har Alon and Beit Oren.
To date, most of the exploration work has been carried out on the RMC, which lies on the southern portion of Mount Carmel. The company has completed geological mapping as well as rock and soil sampling, which has led to the identification of gem and industrial minerals within its target mineral assemblage.
At Kishon, the primary exploration target is the Kishon Mid-Reach placer where the company’s most advanced exploration project and ongoing exploration activities are being undertaken with the aim of defining a SAMREC compliant Mineral Resource.
The company has delineated the Kishon Mid Reach placer in three zones; Zone 1, Zone 2 and Zone 3, all of which are at different stages of development.
Zones 1 and 2, which cover around 3.5km of the total length of the placer, are believed to contain some 1.1mln tonnes of gemstone bearing gravel. These two zones have been the focus of the company’s drilling and a bulk sampling programme.
Out of roughly 186 boreholes drilled, a total of 137 boreholes were drilled specifically in Zone 1 + 15 bulk sampling and 23 boreholes in Zone 2 + 26 bulk and mini bulk sampling, whilst approximately over 6 kilotonnes in bulk sampling has been completed in these two zones.
• In an update ahead of its AGM in May, Shefa said it expected to continue planning and regulatory procedures to begin mining at the Kishon Mid-Reach Zone 1 area by 2020
• In mid-May, the company raised £1mln from new shareholders through a subscription and placing of shares
• In April the group said it was planning to change its name to Shefa Gems and had appointed a new chairman, Michael Rosenberg
In late May Shefa said it would become revenue generating once mining began at the Kishon Mid-Reach Zone 1 area.
It also said it was looking to begin further exploration at Zone 2 in the second quarter of 2019, while there would also be expanded exploration efforts at Zone 3 of the site.
The company is also aiming to build on the launch of the "Heaven on Earth" jewellery collection, which was designed using gems recovered from its projects, in order to develop its “Mine to Market” strategy.
Rosenberg added that over the rest of 2019 the firm would engage with London-based advisors to help expand understanding of Shefa’s investment proposition in the City, adding that the company had “never been in a stronger position”.
With shares trading at around 4.8p as of 7 June, Shefa Yamim has a market cap of £8mln.
Chairman interview - Michael Rosenberg