Member Info for ericnat17

A lot of big chunky buys going thru 1 million plus each time

Result of RetailBook Offer

KEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, announced on 19 March 2026 the launch of a fundraising comprising a Firm Placing, a Conditional Placing and a Conditional Subscription in conjunction with a RetailBook Offer.

The Company is pleased to announce that the RetailBook Offer successfully completed and closed at 4.30 p.m. on 23 March 2026 and that it has conditionally raised approximately £941,574 in the RetailBook Offer through the issue of 78,464,474 new Ordinary Shares at the Issue Price of 1.2 pence per share.

Following the close of the RetailBook Offer, the Company has conditionally raised gross proceeds of approximately £35.6 million at the Issue Price via the Fundraising. The Company will therefore be required to issue and allot a total of 2,964,194,769 new Ordinary Shares to satisfy the Fundraising.

The RetailBook Offer is conditional upon the fundraising resolutions being duly passed without amendment at the Company's General Meeting to be held on or around 14 April 2026 and Admission becoming effective at 8:00 am on 16 April 2026 (or such later date as the Company and its advisers may agree, but not later than 8:00 am on 30 April 2026).

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the launch announcement.

Results of Placing

KEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia ("Ethiopia"), and the Kingdom of Saudi Arabia, is pleased to announce that is has successfully raised gross proceeds of £34 million, (approximately US$45 million) before expenses, via the issue of 2,814,681,378 new Ordinary Shares (the "Placing Shares") at a price of 1.2 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 15 per cent. to the closing price per existing Ordinary Share as of 19 March 2026 (the latest practicable date prior to this Announcement).

The Placing was oversubscribed, receiving strong support from existing and new investors, allowing the Company to broaden its institutional following and market support. KEFI's management team actively participated in the structuring and allocation of the Placing.

Concurrent with the Placing, the Company is undertaking a retail offering to eligible retail investors (the "Retail Offering") for up to £1 million (approximately US$1.3 million). The results of the Retail Offering will be announced in due course.

The Company also intends to issue up to 71,048,917 new Ordinary Shares (the "Subscription Shares" and, together with the Placing Shares and the Retail Shares, the "New Shares") at the Placing Price to certain service providers of the Company to settle outstanding fees totalling approximately £853,000 (the "Subscription").

KEFI Founder and Executive Chairman, Harry Anagnostaras-Adams, commented:

"This strong and oversubscribed equity raise, driven by significant institutional demand, is a clear endorsement of KEFI's strategy and the quality of the Tulu Kapi project. The increased scale of the fundraising ensures that Tulu Kapi is now fully funded through development, replacing some higher cost capital and positioning us to move forward with confidence. Importantly, it also provides the funding to accelerate our substantial broader growth opportunities by advancing our highly prospective strategic exploration portfolio, both underground at Tulu Kapi and more widely. We believe this marks a pivotal step in unlocking substantial value for KEFI shareholders, both at Tulu Kapi and in the longer-term across a wider asset base. In addition, the institutional investor support we have received positions the Company well for its intended transition to the Main Market of the London Stock Exchange in due course."

Gone into auction

Some people might say that we already peddle a certain type of fertilizer

FA

Dangote signs US$4.2B gas deal for Ethiopia fertilizer plant - https://millingmea.com/dangote-signs-us4-2b-gas-deal-for-ethiopia-fertilizer-plant/

Totally agree Cat.

Landstead don’t lose out due to the 8p benchmark.

They make more if the SP positively re rates. But they still make money with the SP at 4p.

If Lanstead are making money someone is losing…..guess who that is

“PE going to 100”

Now that a great prediction

Iceberg buyer at 1.7

Let’s not forget the messages from Chancery that they are unique in the royalty arena….. because they are very agile and aggressive when they see the right deal. It’s pretty obvious now this second royalty deal is by an old school company that is certainly not as agile as chancery.

But imho nothing to worry about

I would not be bother if they did a placing for the last 20 Million....certainly will increase the size of are already massive potential dividends. I do not think for a second it will come to that as they have competition for investments.

Gold at $5000 is now a reality and not a fluke.

Subtle as a brick

Underground production as soon as practically possible.……Nice

KEFI (AIM: KEFI), notes today's public announcement by contractor Lycopodium Limited ("Lycopodium") as regards its involvement in the Tulu Kapi Gold Project in Ethiopia ("Tulu Kapi" or the "Project") owned by KEFI subsidiary Tulu Kapi Gold Mines S.C. ("TKGM"). Lycopodium's announcement detailing their award of an engineering, supply and labour hire contract for the development of the Project reflects that all the Project physical activities and associated financing arrangements are flowing in accordance with the schedule for first gold pour in early 2028 and full production by mid-2028.

KEFI are pleased with the progress being made by the recently mobilised leadership teams of TKGM and all major Project contractors: Ethiopian Electric Power Company (electricity connection), Ethiopian Roads Authority (new access roads), Lycopodium (process plant and on-site infrastructure), Dashen (house construction for the resettled community) and BCM (bulk earthworks and mining).

We are also pleased that the full package of interdependent Project agreements has been finalised and many of the agreements have been executed, including the loan facilities. The remainder are expected to be executed in the next few weeks as the broader Project syndicate members' respective compliance procedures are completed, including tasks such as notarisation where required in the various international jurisdictions.

As regards the full Project financing package, it remains the case that the Company has more than enough capital on offer for the Project development for which commitments have been received for US$310 million of the US$330 million approved budget as at 1 January 2026. The Company is making good progress finalising the remaining finance components.

Good find Nigel..thanks

Lycopodium Gets A$118 Mln ESLH Contract For Tulu Kapi Gold Project In Ethiopia

https://proinvestor.com/investornyt/1419131/lycopodium-gets-a118-mln-eslh-contract-for-tulu-kapi-gold-project-in-ethiopia

I am not pished

The final 20 million just requires sign off by the Banks and Partners.

It is under the same terms as the chancery Royal 20 Million so they have zero reason not to sign it off.

It appears to be just a formality

Could be just a reaction to the small attacks occurring in Saud Arabia.

Who would have thought that all the talk about war in Ethiopia and it SA that is the more dangerous place to be in....that's SODS law certainly not serendipity