Kefi Gold & Copper Share News (KEFI)

Exploration and development group KEFI Minerals has raised £666,106 through a conditional share placing.The London-listed company said it had placed 66.6m new shares at 1p each, after opting against proceeding with a placing it had previously agreed with Goldfields Resources Fund.The deadline for the placing was extended to 8 May to allow Goldfields the time required to settle its £3m subscription on the terms it had previously agreed.KEFI stated it will seek permission from shareholders to issue shares after reaching its current limit, adding its directors intend to subscribe for £250,000 of shares once the firm gets the green light to issue them."The directors of Goldfields have re-affirmed their desire to make KEFI their maiden investment, but will now only be in a position to do so should Goldfields successfully close its subscription, which it expects to have completed by 2 June," the group said in a statement.KEFI shares were down 7.79% to 0.876p at 15:25 on Monday.