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Mr Fotios said the $30 million placement would allow the gold miner to progress a number of projects

Eastern to raise $30m for Davyhurst and Mt Ida

Eastern Goldfields has announced a conditional deal with an international asset manager to raise up to $30 million, with the proceeds used to maintain operations at the company’s Davyhurst gold operation and undertake feasibility studies on its Mt Ida project.

The Perth-based gold miner will raise $17.5 million from Hawke’s Point Holdings, which is an affiliate of alternative asset management group Tetragon, while the remaining $12.5 million will come through subscribers sourced by Eastern.

The placement has been priced at 20 cents per share, compared with its last trading price of 23.5 cents in mid August.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
564thEastern Goldfields-22%-40%
604thStrike Energy-31%-20%
787thXTD-70%-55%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

28/03/17
$249k Bought
03/02/17
$210k Bought
16/01/17
$84k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

74th↑Zeta Petroleum$4.1m
75th-Strike Energy$3.7m
76th↑Eastern Goldfields$3.4m
77th↑XTD$3.4m
78th↑Citation Resources$3.2m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Eastern Goldfields

60thMichael Fotios$954k
171stCraig Readhead$254k
489thAlan Still$254k
Ranked by total remuneration from all listed WA companies

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