Completion of institutional entitlement offer and placement

Key points

• L1 Gold Fund Ltd completed its institutional placement and entitlement offer, raising A$254.9 million
• Founders Mark Landau and Raphael Lamm invested A$52.5 million
• Placement raised A$160.3 million, the maximum allowed under ASX Listing Rule 7.1
• New shares to commence trading on ASX on September 3, 2026

Full summary

L1 Gold Fund Ltd announced the successful completion of its institutional placement, institutional entitlement offer, and shortfall offer, raising approximately A$254.9 million. The placement raised A$160.3 million, while the institutional entitlement offer and shortfall offer raised A$52.5 million and A$42.0 million, respectively. Founders Mark Landau and Raphael Lamm invested A$52.5 million, reflecting their confidence in the company and the gold sector. The new shares will settle on September 1, 2026, be allotted on September 2, 2026, and start trading on September 3, 2026. The retail entitlement offer will open on September 3, 2026, and close on September 9, 2026, aiming to raise up to A$261.7 million.

Guidance

Raised A$254.9 million through institutional placement, entitlement offer, and shortfall offer

Outlook

L1 Gold Fund Ltd remains optimistic about the outlook for gold and precious metals, with continued support from institutional and retail shareholders.