Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Riversgold Raises AU$1.55 Million to Expand Kalgoorlie Gold Project
Highlights
Riversgold Secures AU$1.55 Million Through Share Placement
Riversgold Limited (ASX: RGL) announced on 6 November 2026 that it had received firm commitments to raise AU$1.55 million before costs through a share placement. The fundraising involves approximately 258.3 million fully paid ordinary shares at AU$0.006 per share, to be issued across two tranches. The placement attracted strong interest from existing shareholders and new investors. Riversgold's current market price stands at AU$0.007, with the share price gaining 7.142%.
How the Placement Is Structured
Under the placement, Riversgold will issue 214,348,286 new shares through the first tranche. This includes 204,164,527 shares under Listing Rule 7.1 and 10,183,759 shares under Listing Rule 7.1A.
The second tranche comprises 43,985,047 shares and is subject to shareholder approval. This tranche includes 8,333,333 shares subscribed for by Executive Chairman David Lenigas.
The new shares will rank equally with the company's existing shares. Riversgold has appointed 708 Capital Pty Ltd as the lead manager for the placement. The company will also seek shareholder approval to issue 30 million unquoted options, exercisable at AU$0.012 each, with a two-year term.
Allocation of Funds and Strategic Priorities
Riversgold intends to allocate the funds towards securing exploration licence E25/594, which is currently held by a subsidiary of Black Cat Syndicate Limited.
The acquisition is expected to increase the Kalgoorlie-Northern Zone Project area from 0.82km² to 12.82km². This expansion will provide the company with a significantly larger exploration footprint and additional opportunities to advance its gold asset in the Kalgoorlie region. Executive Chairman David Lenigas stated that the funding would provide financial flexibility to accelerate the acquisition and commence activities across the expanded project area.
What Investors Can Watch Next
Riversgold expects settlement of the first tranche placement on 11 November 2026, with the corresponding shares scheduled for issue on 12 November 2026. Shareholder approval for the second tranche is anticipated in late 2026.
The company's immediate focus is on completing the acquisition and advancing exploration activities across the enlarged Northern Zone Project. The expanded project area is expected to provide greater scope for exploration as Riversgold continues to progress its Kalgoorlie gold asset.
Note- All data presented is based on information available at the time of writing.
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