L1 Gold Fund Announces Placement and Entitlement Offer
Key points
- Institutional placement of up to $160 million
- Entitlement offer at A$2.25 per share
- Proceeds to be invested in gold and precious metals
Full summary
L1 Gold Fund Limited (ASX: LGF) announced an institutional placement of up to $160 million and a non-renounceable entitlement offer to raise additional capital. The offer price is set at A$2.25 per share, and eligible shareholders can participate in both the institutional and retail components. The company intends to use the proceeds to invest in gold and precious metals, driven by the current macroeconomic environment and attractive valuations in the sector.
Outlook
The company expects the current market conditions to continue supporting the investment outlook for gold and precious metals.
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