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KEFI Gold & Copper PLC - gold and copper explorer and developer in Ethiopia and Saudi Arabia - Places 1.0 billion in new shares at 0.8 pence each, raising £8.0 million. Of this, £3.6 million is conditional on shareholder approval. The fresh cash will fund the Tulu Kapi gold project in Ethiopia, exploration works at satellite deposits in the Tulu Kapi district, and the company's share of exploration at the Hawiah gold and copper project in Saudi Arabia. ‘The placing is to reinforce the rapid advancement of our three advanced projects in Ethiopia and Saudi Arabia,’ says Chair Harry Anagnostaras Adams.
Current stock price: 0.84p, down 30% on Wednesday
12-month change: down 57%
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