StockMarketWire.com - Saudi Arabia-focused KEFI Minerals has completed a placing and raised £1,850,000, before expenses.
The placing of 61,666,667 ordinary shares at 3p apiece was significantly over-subscribed.
The funds raised will be used to progress the next stages of the current exploration programme.
KEFI Minerals said it hadn lodged 18 exploration licences applications and three exploration licences had been granted.
The ELAs are at various stages regulatory processing and a number are expected to be granted this year.
The ELAs are targeting both gold and copper-gold mineralisation, all of the ELA areas contain ancient workings, some have visible gold in quartz veins, and two are within 50kms of two operating gold mines.
At 9:45am: (LON:KEFI) share price was +0.01p at 3.13p
Story provided by StockMarketWire.com
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