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Shefa Yamim raises £250,000 to fund advancement of Kishon Mid-Reach project

The proceeds would be used to advance a project in Zone 1 of the Kishon Mid-Reach area towards trial mining as well as progressing with bulk sampling at Zone 2
Cash
312,500 new shares were subscribed at a placing price of 80p each

Shefa Yamim (ATM) Ltd (LON:SEFA) has raised £250,000 through a subscription of new shares to fund the advancement of its activities at the Kishon Mid-Reach project in Israel.

The precious stones miner said 312,500 new shares had been subscribed at a placing price of 80p each, a 13.5% discount on its last close price of 92.5p.

WATCH: Jewellery designer Yossi Harari delighted to be working with Shefa Yamim

The proceeds of the subscription would be used to advance a project in Zone 1 of the Kishon Mid-Reach area towards trial mining as well as progressing with bulk sampling at Zone 2 of the same area.

Shefa added that a Technical Economic Evaluation (TEE) of its Kishon Mid-Reach Zone 1 exploration target, was progressing and the company was at an “advanced stage” of building the economic profile as it progressed towards trial mining.

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Shefa Yamim (ATM) Timeline

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