https://www.engineeringnews.co.za

Eastern Goldfields raises A$25m

Eastern Goldfields raises A$25m

Photo by Bloombeg

1st March 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Eastern Goldfields has raised A$25-million through a share placement, paving the way for a restart of gold production at the Davyhurst project, in Western Australia.

The company on Tuesday noted that it had received applications for more than 166.6-million shares, at a price of 15c each, after its initial share placement was oversubscribed.

“This is a tremendous result for the company and will provide great impetus in Eastern Goldfields’ application to have its shares successfully requited on the ASX in the coming weeks, after a number of years in suspension,” said executive chairperson Michael Fotios.

“The capital raising is also a significant milestone towards recommencing gold production at the Davyhurst project, and is a strong signal of support for both the asset and the Eastern Goldfields team.”

The Davyhurst project produced some 152 690 oz of gold between 2000 and 2008, and was estimated to host a total resource of 5.4-million tonnes, grading 2.28 g/t gold for 402 000 oz of gold.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 0.088s - 140pq - 2rq
Subscribe Now