Australia's Far East Gold gains on placement at a premium

Far East Gold

05/09/2024 04:04

** Shares of Far East Gold  FEG.AX  rise as much as 15.2% to
A$0.19, their highest levels since July 19
    ** Copper and gold explorer signs share placement agreement
with Hsing Yip Gold (Hong Kong) Mine for over A$14 mln ($9.42
mln)
    ** Says the three-tranche placement is at A$0.20/shr, ~21%
premium to stock's last close
    ** Stock posts its biggest intraday pct gain since July 17
    ** About 1 mln shares traded vs 30-day avg of 400,579 shares
    ** FEG has risen ~27% so far this year, as of last close

($1 = 1.4861 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))