8 January 2010
KEFI Minerals plc
("KEFI Minerals" or the "Company')
KEFI Minerals Raises £515,000 in Equity Placing
KEFI Minerals, the AIM-quoted gold and copper exploration company, is pleased
to announce it has successfully placed 32,187,500 ordinary shares of 1p each
("Ordinary Shares") at a price of 1.6 pence per Ordinary Share (the "Placing
Shares") to raise approximately £515,000 before expenses (the "Placing"),
subject to receipt of the placing funds and admission of the Placing Shares to
trading on AIM.
The purpose of the Placing is to raise additional capital to fund on-going
strategic initiatives and further exploratory work on its highly prospective
exploration areas in Turkey and Saudi Arabia where KEFI Minerals is operator of
exploration joint ventures.
The total number of Ordinary Shares in issue following the issue of the Placing
Shares will be 270,354,259 Ordinary Shares.
Application will be made to admit the Placing Shares to trading on AIM
("Admission") and dealings in the Placing Shares are expected to occur on 13
The Placing Shares will, when issued, rank pari passu in all respects with the
existing Ordinary Shares in issue including the right to receive dividends and
other distributions declared following their issue.
Jeff Rayner, Managing Director of KEFI Minerals, commented "We are pleased with the
support that KEFI Minerals continues to receive from investors. The Placing will allow
us to further advance our exciting projects in both Turkey, where we recently
announced a joint venture agreement with Centerra Gold, and the Kingdom of
Saudi Arabia, where we have a joint venture with local conglomerate ARTAR".
Jeffrey Rayner +90 533 928 19 13
Oliver Stansfield +44 207 936 5220
WH Ireland Limited
Katy Mitchell +44 161 832 2174
Nick Rome +44 20 7562 3350