Felix Gold raises $7.3M for gold project
Key points
- Felix Gold secures $7.3 million through a two-tranche placement to fund project developments.
- Shares were issued at $0.12 per share, with an additional $1 million sought via a share purchase plan.
- Proceeds will directly advance mine permitting, economic studies, and drilling programmes at Treasure Creek.
· Felix Gold secures $7.3 million through a two-tranche placement to fund project developments.
· Shares were issued at $0.12 per share, with an additional $1 million sought via a share purchase plan.
· Proceeds will directly advance mine permitting, economic studies, and drilling programmes at Treasure Creek.
Felix Gold (ASX:FXG) has secured firm commitments to raise $7.3 million through a two-tranche share placement to advance its mining projects in Alaska.
The placement price of $0.12 per share came as total demand surpassed the company's original $6.5 million target.
"This placement funds the delivery of that work's outcomes," said Felix Gold Executive Director Joseph Webb.
The proceeds will fund mine permitting and economic studies at Treasure Creek, site selection for the Frontier refinery, and updated gold resource estimates.
Following the announcement, the Felix Gold share price was unchanged at $0.14.
Alongside the placement, the company launched a share purchase plan to raise up to an additional $1 million from eligible shareholders in Australia and New Zealand.
Major backer MDF Global committed $2 million to the placement, while company directors pledged $0.3 million, both subject to shareholder approval.
