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Savannah Goldfields Limited (ASX: SVG) has completed a AU$2 million placement at AU$0.03 per share, supported by institutional and sophisticated investors. The funds will provide working capital to expand gold production and exploration activities across Savannah’s Queensland assets.
The placement, led by Shaw and Partners Limited, was issued at a 9.1% discount to the company’s previous closing price, with one free attaching option for every two shares, exercisable at AU$0.045 on or before 31 October 2027.
Proceeds will be used to strengthen mine development and processing infrastructure, support RC drilling programs, and progress resource growth initiatives. Managing Director Jason Peterson said the raise demonstrates continued investor confidence in Savannah’s production strategy and its goal to expand sustainable gold output across its highly prospective Ravenswood–Charters Towers region in Queensland.
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