2012-02-19 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: UK-based KEFI Minerals gold and copper explorer with projects in Saudi Arabia has raised £1.85m before expenses through a 'significantly over-subscribed' placing, the Saudi Gazette has reported. The funds will allow the firm to continue the exploration programme on its three licenses in the kingdom, said KEFI. The drilling programme is currently in the planning stages and will combine reverse circulation and diamond drilling. "We estimate, that after all placing expenses are taken out, this raising will leave KEFI with about £2m to play with, which should fund the company for another 12 months and pay for at least 10,000 meters of drilling this year," FD Capital analyst Juan Alvarez said.  

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