KEFI Gold and Copper (KEFI ) has conditionally raised approximately £941,574 in the previously announced RetailBook offer, that ran concurrently to its £34 million institutional placing last week.
The company issued 78,464,474 shares under the RetailBook offer at 1.2p.
Following the close of the RetailBook offer, KEFI has conditionally raised gross proceeds of approximately £35.6 million at the issue price. The money raised will be used for the construction of the Tulu Kapi gold mine in Ethiopia, which is now fully funded.
The RetailBook offer is conditional upon the fundraising resolutions being duly passed without amendment at a General Meeting to be held on or around 14 April 2026.
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The gold price has been volatile in recent weeks, but it remains at historically high levels, so it’s not hard to see why the RetailBook offer turned out to be so popular. KEFI’s latest funding allows it room for manoeuvre inside Ethiopia, given that the funding process for the Tulu Kapi mine is now complete. The company can now look up and around for other opportunities, even as construction at the mine itself accelerates.