- KEFI Minerals has conditionally raised approximately GBP1.75 million, before expenses, through the issue of 499,359,791 new ordinary shares at 0.35p by way of a placing through Brandon Hill Capital Limited together with a subscription direct with the company by Ausdrill International Pty.

The proceeds are budgeted to cover further expenditures pending initial drawdown of project finance and to cater for activities across the company, principally development preparations for Tulu Kapi in Ethiopia and notably the project financing, but also refinement of the mining licence application for Jibal Qutman in Saudi Arabia, exploration activities and corporate costs.

Story provided by