Highlights

  • Felix Gold raises AUD 18 million through a placement of 50 million shares at AUD 0.36 each.
  • Funds will be used for exploration, feasibility studies, operational expansion, and working capital.
  • Placement supported by Australian and offshore institutional investors, adding new participants to the register.

Felix Gold Limited (ASX:FXG) has received firm commitments for a single-tranche placement, issuing 50 million fully paid ordinary shares at AUD 0.36 per share to raise AUD 18 million. The placement was supported by a number of institutional investors from Australia and offshore. Petra Capital Pty Limited acted as Sole Lead Manager and Sole Bookrunner.

The placement involves 5,803,895 new shares issued under ASX Listing Rule 7.1 and 44,196,105 new shares under ASX Listing Rule 7.1A. The issue price represents a 12.1% discount to the five-day volume-weighted average trading price to 3 December 2025. Settlement of the placement is expected on 11 December 2025, with the new shares to be issued on or around 12 December 2025.

Allocation of Funds
Proceeds from the placement will be applied to exploration, feasibility studies, operational expansion, and working capital, including placement costs. The funding will support the company’s bulk sample program, updated resource and economic studies, and ongoing engineering and permitting activities through 2026.

Project Developments
Recent technical work has confirmed high-purity, near-surface stibnite capable of meeting military-grade antimony specifications. Felix Gold has defined stibnite veins extending more than 250 metres at surface, remaining open in both directions and at depth. Multiple other veins, three past-producing mines, and key antimony soil anomalies remain untested.

The 2025 drilling program has concluded, with over 100 gold assays and approximately 80 antimony assays pending from the same drillholes, expected through February 2026. These results will contribute to metallurgical programs, resource modelling, and commercial and permitting workstreams.

Permitting Progress
The bulk sample application has been fully submitted and has received no substantive objections. It continues to receive support from the State of Alaska. Minor delays occurred due to U.S. federal government shutdowns and the appointment of a new Alaska DNR Commissioner. The permit is expected to be granted in late December 2025 or early 2026.

Operational Position
With major on-ground programs completed for the season and baseline environmental studies largely finished, cash outflows are expected to reduce through the first half of 2026. The placement provides funding to execute operational programs and maintain flexibility for bulk sample sales, stockpiling, strategic arrangements, or downstream processing pathways.

Share Price Snapshot
FXG was trading 9.63% lower at AUD 0.375 per share as of 08 December 2025.