Far East Gold Placement
Wholesale Opportunity*
This Offer Is Now Closed
Offer Details
Offer Price
TBA
*Offer is at the same price as the institutional placement
Offer Details
Last traded price
$0.30
Offer Price
$0.25^
Reach Wholesale 708 investors have the opportunity to participate in the placement. ^The placement offer price represents a discount of 16.7% per share to the company’s last traded price of $0.30 on 11th August 2023.
We are enthused by a raft of assays flooding in from the Woyla drilling that continue to show extensive high-grade gold and silver mineralisation throughout the system. Investment by a player of ERG’s calibre is a game changer for us. Not only does ERG bring substantial financial capital and operational experience, but this investment also provides a firm seal of approval about the quality of our management team and the remarkable potential that we have in our portfolio of projects.
Paul Walker, Chairman
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By clicking submit, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Corporate provides Corporate Advisory Services to Far East Gold Ltd and has been engaged by them to manage their investor communications including managing this offer and may receive fees for its services.
Company Overview
Far East Gold Ltd (ASX: FEG) commands a portfolio of copper gold exploration projects in Australia and Indonesia at different stages of exploration, with the purpose of providing diversification across jurisdictions, commodities and development stages.
Far East Gold is a junior copper and gold exploration company led by some of the biggest names in Australian mining, including Justin Werner MD of Nickel Industries (ASX: NIC), who is looking to replicate his $2.5 billion success with this golden new venture.
The company’s flagship asset is Woyla, a 24,260 hectare 6th generation Contract of Work in Indonesia, described by the company as ‘one of the most highly prospective undrilled copper gold projects in South East Asia’. Woyla was previously owned by Barrick and Newcrest, but only Far East Gold achieved first-ever drilling in September 2022.
Investment Highlights
- Wholesale opportunity via a Placement to raise up to $6 million (with the ability to take oversubscriptions up to approximately $2 million).
- Placement is cornerstoned by $4 million from strategic investor Eurasian Resources Group.
- Issue price: $0.25 per share
- 16.7% discount to last traded price (COB 11/08/23)
- 13.9% discount to 5 day VWAP ($0.2902)
Latest News
Speak to an Adviser
By clicking submit, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Corporate provides Corporate Advisory Services to Far East Gold Ltd and has been engaged by them to manage their investor communications including managing this offer and may receive fees for its services.
*Wholesale 708 Sophisticated Investors are individuals or entities who generally qualify under Sections 708(8) and s761G(7) of the Corporations Act based on the gross income and/or net assets test verified by a qualified accountant.
- A gross income of $250,000 or more per annum in each of the previous two financial years; or
- Net assets of at least $2.5 million; and
- A verified Qualified Accountant’s certificate given no more than two (2) years ago confirming the Sophisticated Investor status. Please refer to the Corporations Act: Specifically Section 708(08) and Section s761G(7)
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