Kefi Gold and Copper Secures £34m in Oversubscribed Placing to Fund Tulu Kapi

KEFI Minerals ( (GB:KEFI) ) has provided an update.

Kefi Gold and Copper has raised £34 million via an oversubscribed placing of 2.81 billion new shares at 1.2 pence each, a 15% discount to the prior close, and is running a retail offer of up to £1 million alongside a share-based subscription to settle about £853,000 of fees with service providers. Management says the enlarged equity raise fully funds development of the Tulu Kapi project, allows replacement of higher-cost capital, supports accelerated exploration across its portfolio, and strengthens institutional backing ahead of a planned move to the London Stock Exchange’s Main Market, though the additional shares will significantly expand the company’s issued capital and voting base.

The most recent analyst rating on (GB:KEFI) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on KEFI Minerals stock, see the GB:KEFI Stock Forecast page.

Spark’s Take on KEFI Stock

According to Spark, TipRanks’ AI Analyst, KEFI is a Neutral.

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn). Technical indicators are a relative positive with price above key moving averages and a positive MACD, but valuation remains challenged due to negative earnings and no stated dividend yield.

To see Spark’s full report on KEFI stock, click here.

More about KEFI Minerals

Kefi Gold and Copper plc is a gold and copper exploration and development company focused on the Arabian-Nubian Shield, with a project pipeline in Ethiopia and Saudi Arabia. Its flagship asset is the Tulu Kapi gold project in Ethiopia, which underpins the company’s growth plans and its efforts to attract a broader institutional investor base in London.

Average Trading Volume: 107,413,704

Technical Sentiment Signal: Buy

Current Market Cap: £150M

See more data about KEFI stock on TipRanks’ Stock Analysis page.