trending Market Intelligence /marketintelligence/en/news-insights/trending/M9I9RmA9cnzqxIpmLo1-mQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

KEFI Minerals raises £3.8M for Tulu Kapi gold project

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


KEFI Minerals raises £3.8M for Tulu Kapi gold project

KEFI MineralsPlc has raised gross proceeds of about £3.8 million to continuedevelopment at its TuluKapi gold project in Ethiopia, it said July 26.

The company will use the £3.6 million net proceeds, and its£2.2 million existing working capital, to resettle the Tulu Kapi community andcover the project finance syndication closure costs.

In addition, exploration field work is budgeted to restarton the satellite deposits located within trucking distance of Tulu Kapi and atthe company's projects in Saudi Arabia.

Following the placement, Odey Asset Management LLP will havea beneficial interest in about 29.5% of KEFI's issued share capital.

Ausdrill International Pty. Ltd., which owns 7.31% of KEFI,also participated in the placing to keep its pro rata shareholding in thecompany.

Previously in July, KEFI announced a of its board as ittransitions toward gold production at Tulu Kapi.