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Kefi Gold & Copper PLC - gold and copper exploration and development in Ethiopia and Saudi Arabia - Raises £774,245 before expenses from its retail share offer, just short of its £1 million goal. Kefi will issue 59.6 million new shares at 1.3 pence each under the retail offer. As a result, Kefi expects to raise £6.9 million in total from its share placing and retail offer. A further £8.9 million in liabilities have been settled from a share subscription at the same price.
The equity raises accompany the ‘full launch’ of Kefi’s Tulu Kapi gold project in Ethiopia, following the securing of $340 million in capital. Of this, $240 million is in long-term debt funding and $100 million is in equity risk capital. In addition to the $20 million from its equity raise on Monday, Kefi also has raised $20 million from the Ethiopian government, $26 million from Ethiopian investors, $30 million from gold royalty streams, and $10 million from previous equity raises in London in 2025.
Current stock price: 1.33p, down 7.9% in London on Tuesday for a £126.8 million market capitalisation
12-month change: up from 0.50p
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