Shefa Yamim (A.T.M.) Ltd Kishon Mid-Reach Project Operational Update (1556G)
28 February 2018 - 6:01PM
UK Regulatory
TIDMSEFA
RNS Number : 1556G
Shefa Yamim (A.T.M.) Ltd
28 February 2018
B"H
28 February 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
Kishon Mid-Reach Project Operational Update
Shefa Yamim (LSE: SEFA), a precious stones exploration company
in Northern Israel, today announces an operational update with
respect to improvements made at its operational site in Akko,
Israel.
The Company is on track to increase processing capacity from 30
tonnes per day to 50 tonnes per day following a number of
successful upgrades at its site in Akko. Three new pumps to
maximise the volume of water entering the machine and two new
plants to dry the material have been ordered and will be placed in
the scrubber. The scrubber will reduce the time it takes to wash
the material gathered from the bulk sample significantly and will
increase productivity.
In addition, a new upgraded jigging system which can separate
fractions of gravel at 8-25 mm is in place. Shefa Yamim now has two
lines of jigging at its operational site, one for fractions 8-25mm
and one for fractions 0-8mm.
These jigging lines can operate simultaneously and sift the bulk
sampling automatically to produce concentrate with more specific
dimensions. As a result, the pickers, when presented with the
jigged material, can search the fraction for gemstones visually
rather than manually. This upgrade will save both time and costs
for the Company, while also increasing efficiency.
Avi Taub, CEO of Shefa Yamim, said: "Shefa Yamim used the
proceeds of the funds raised at the IPO to implement significant
upgrades across all its operations. The changes have allowed us to
automate some of the functions we were previously doing manually,
making us more efficient and ensuring that we advance the Kishon
Mid-Reach project in a timely fashion. We look forward to updating
the market in due course."
Enquiries
Shefa Yamim (A.T. M.) Ltd
--------------------------------- -----------------
Avi Taub, Chief Executive
Officer +44 20 7618 9100
--------------------------------- -----------------
VSA Capital Limited - Financial
Adviser and Broker
--------------------------------- -----------------
Andrew Raca, Stephanie Jury +44 20 3005 5000
--------------------------------- -----------------
Luther Pendragon
--------------------------------- -----------------
Harry Chathli, Ana Ribeiro,
Alexis Gore +44 20 7618 9100
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This information is provided by RNS
The company news service from the London Stock Exchange
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