KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it had raised £469,000 gross from a retail offer at 0.55p per share.
Over 90% of the subscribers were existing shareholders, KEFI added, with an average order size of approximately £2,500.
Combined, a firm placing, conditional placing, conditional subscription and the retail offer have raised £6 million in total, said KEFI, of which £4.6 million will be used to settle outstanding liabilities.
The completion of the conditional placing, the conditional subscription and the conditional remuneration issue remain subject to shareholder approval at a general meeting on 2 January 2025.