Felix Gold Limited (ASX:FXG) has received firm commitments for a two-tranche placement of new fully paid ordinary shares to raise approximately $7.25 million before costs at an issue price of $0.12 per share, with demand exceeding the company's initial target of $6.5 million, and has simultaneously launched a Share Purchase Plan targeting up to $1 million.

Key Points

  • Two-tranche placement to raise approximately $7.25 million before costs at $0.12 per share, representing a 14.3% discount to the last closing price and 5-day VWAP of $0.14
  • Tranche 1 comprises 41,250,000 new shares to raise approximately $4.95 million, to be issued within existing placement capacity without shareholder approval
  • Tranche 2 comprises 19,166,667 new shares to raise approximately $2.3 million, allocated to largest shareholder MDF Global Ltd ($2.0 million) and directors ($0.3 million), subject to shareholder approval
  • Share Purchase Plan open to eligible shareholders in Australia and New Zealand as at 3 November 2026, with each eligible shareholder able to apply for up to $30,000 of new shares at $0.12 per share
  • Proceeds, together with existing cash, will fund Treasure Creek mine permitting and economic study, Frontier refinery site selection and permitting, 2026 drilling results, an updated gold Mineral Resource estimate, antimony resource definition, and corporate costs

Placement Structure and Pricing

The placement issue price of $0.12 per new share represents a 14.3% discount to the last closing price and 5-day VWAP of $0.14. Tranche 1, comprising 41,250,000 new shares to raise approximately $4.95 million, will be issued under the company's existing placement capacity under ASX Listing Rule 7.1 without shareholder approval, with settlement scheduled for 11 November 2026 and issue of shares on 12 November 2026. Tranche 2, comprising 19,166,667 new shares to raise approximately $2.3 million, is subject to shareholder approval under Listing Rule 10.11 at a meeting to be called shortly. Morgans Corporate Limited and GBA Capital Pty Ltd acted as Joint Lead Managers to the placement.

Share Purchase Plan Terms and Timetable

The SPP is open to eligible shareholders with a registered address in Australia or New Zealand as at 7:00pm AEDT on 3 November 2026. Each eligible shareholder may apply for up to $30,000 of new shares at $0.12 per share, the same price as the placement, without brokerage or other transaction costs. The SPP Booklet is scheduled to be dispatched to eligible shareholders on or about Friday, 13 November 2026, with the SPP opening that same date and closing Friday, 4 December 2026. The SPP is not underwritten, and the board may accept oversubscriptions or scale back applications at its absolute discretion.

Allocation of Placement Proceeds

According to the filing, proceeds from the placement combined with existing cash, stated as $1.3 million at 30 September 2026 (unaudited), total $8.55 million and will be allocated as follows: $1.80 million for Treasure Creek mine permitting and economic study; $1.30 million for Frontier refinery site selection, permitting, economic study and DOE award negotiation; $1.80 million for 2026 drilling results, an updated gold Mineral Resource estimate and antimony resource definition; and $3.65 million for corporate costs, placement and SPP costs, and a cash buffer. Shares issued under the placement and SPP will rank equally in all respects with existing fully paid ordinary shares from their date of issue.