Felix Gold (ASX:FXG) has raised $18 million through a single tranche placement to fund exploration, feasibility studies, and an operational expansion across the company’s portfolio of assets.
The company will issue 50 million shares at $0.36 per share, representing a 12.1% discount to the five-day volume weighted average price on 3 December.
Petra Capital acted as the lead manager and bookrunner for this placement.
The placement is expected to settle on 11 December, before shares are issued on or around 12 December.
Executive Director Joe Webb says the placement was conducted at an “inflection point for the company” as it advances activities towards production from bulk sampling.
“Given the scale of work completed and the strategic developments underway, we felt it important to provide the market with a detailed update,” Webb says.
“Felix Gold remains the only Western company advancing the full environmental, geological, metallurgical and engineering programs required to support near-term potential military-grade antimony production.
“Our 2025 drilling program has concluded, and we have a substantial pipeline of results still to come, including more than 100 gold assays and 80 antimony assays from the same drillholes, expected through to February 2026.”
The company is focused on advancing its near-term production pathway, after recently achieving 89.2% antimony-bearing minerals in samples from the Treasure Creek Antimony Project in Alaska, with flotation concentrates exceeding grades required for the US military, as reported by Mining.com.au.
Felix Gold is a gold and critical minerals explorer focused on developing the Tintina gold province of Alaska in the US.
Write to Maddison Elliott at Mining.com.au
Images: Felix Gold
