Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This morning, Kefi Minerals (KEFI) announced a £2.125million placement to fund its final takeover of the Tulu Kapi gold project, from Nyota Minerals (NYO). The company then followed this with an update concerning director purchases of 4.8million shares, worth roughly £72,000. With a clearly defined plan for the rest of 2014, which incorporates Kefi’s existing cash balance of £2million, does this presenting a buying opportunity for resource speculators on AIM?
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