KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) rose another 5% as it formerly launched its Tulu Kapi mine in Ethiopia just as the gold price climbed to a new high of just short of US$2,500.
Traders suggested the spike in gold today is linked to concerns following the death of Iran's president in a helicopter crash and the possibility of US rate rises.
KEFI meanwhile, said it has started building the new gold mine at Tulu Kapi, with financing close to being agreed and foundation works starting.
Shares rose 11% to 0.8p, marking a near 50% rise since the end of April.