RE: Wow, Baron is in!!!7 Apr 2026 18:15
Regarding the raise, is it not answered on their website?
A: The end of February arrived and KEFI felt it best to close the core financing package.
Having recently triggered the development schedule, timetable discipline is now imperative. The breakout of the Middle East conflict further prompted that we get on with it - not that it will be negative for gold over the longer term, but it simply reinforced the appropriateness of us closing our development funding.
In that context the parent company share issue provided an immediate route to locking down our fully funded position including extra for cost overrun reserves.
The banks and contractors were also keen to see this formally closed out. They are putting up 70% of the project development funding andare also listened to carefully and respectfully by the Board.
The share capital raised therefore reflects a decision to ensure the project is comprehensively funded, including appropriate contingency and working capital rather than continuing to rely on multiple yet-to-close conditional or sequential funding sources for the last pieces