An Israeli company inspired by a ‘prophecy’ from a Lubavitch rabbi has been listed on the London Stock Exchange (LSE).
Avi Taub is a Strictly Orthodox Jew who is a scholar of gemology and mineralogy. Both his faith and his expertise led him to set up Shefa Yamim, which this week became the first Israeli mining company quoted on the LSE.
The idea came about after Mr Taub was shown a video of a meeting conducted 29 years ago between the then-mayor of Haifa, Aryeh Gurel, and the Lubavitcher Rebbe, Rabbi Menachem Mendel Schneerson, in Brooklyn.
It is claimed the rebbe told Mr Gurel of “hidden stones” in the valley near Haifa.
Whether or not it was divine inspiration, some initial digging soon reaped rewards. Mr Taub successfully raised the backing for his firm which this week became the 100th - and final - new company to be listed on the LSE in 2017.
Representatives of the company were joined by Israeli ambassador Mark Regev at a special launch, which featured the exchange’s first ever menorah lighting ceremony.
Shefa Yamim has already embarked on an extensive exploration programme around the Kishon River and Carmel mountain range and they have found multi-commodity precious stones including rubies, diamonds, and its already trade-marked Carmel sapphire.
Shefa Yamim raised gross proceeds of £4.15 million and will use the net proceeds to advance exploration in the Kishon Mid Reach project.
Mr Taub said: “We are delighted to be listing in the London market. We believe that Shefa Yamim’s diverse assemblage of gemstones makes it unique. The monies raised will allow the company to accelerate exploration on its priority target, the Kishon-Mid Reach, with the view of commencing production by 2020.
“We would like to take the opportunity to thank our existing shareholders for their continued support and welcome our new London investors, and we look forward to updating the market on our progress.”
Ambassador Regev said: “Shefa Yamim’s listing as the 29th Israeli company on the London Stock Exchange serves as further proof that the robust economic ties between Israel and the United Kingdom are growing even stronger. I believe we will see more Israeli companies join the LSE in the year ahead.”