Far East Gold Completes AU$1.8 Million Share Purchase Plan; Shares Fall 6%

Far East Gold (ASX:FEG) raised approximately AU$1.8 million through a share purchase plan comprising the issue of around 12.9 million shares at AU$0.136 each, according to a Tuesday filing with the Australian bourse.

Shares will be allotted today and will rank equally with the company's ordinary shares in circulation. The share purchase plan follows the AU$2.3 million capital raise via an institutional placement.

Funds will be used to advance exploration activities at the Trenggalek, Idenburg, and Woyla projects, the filing stated.

The ASX-listed gold explorer's shares were down 6% in recent trade.

Price (AUD): $0.15, Change: $-0.010, Percent Change: -6.25%