KEFI Gold & Copper (KEFI) has released further details regarding the participation of institutional investors in the company's recent £7.6 million placing.
Institutional investors that participated in the placing and which have permitted the company to disclose their involvement are Konwave Gold Equity Fund, Phoenix Gold Fund, Premier Miton, RAB Capital and Ruffer Gold Fund.
These specialist institutional investors complement the strategic shareholders at the in-country subsidiary level, such as the Ethiopian government and a leading Saudi family office.
The money raised will be used to advance the Tulu Kapi gold project in Ethiopia.
View from Vox
KEFI has been one of the few smaller mining companies capable of raising decent money in the current market, but it’s not hard to see why. Construction at Tulu Kapi is about to start, the gold price is riding high, and the Ethiopian government is urging the company on. Good to see familiar institutions back in the market. Now, we await construction in earnest.