Eastern Goldfields has announced a conditional deal with an international asset manager to raise up to $30 million, with the proceeds used to maintain operations at the company’s Davyhurst gold operation and undertake feasibility studies on its Mt Ida project.

The Perth-based gold miner will raise $17.5 million from Hawke’s Point Holdings, who are an affiliate of alternative asset management group Tetragon, while the remaining $12.5 million will come through subscribers sourced by Eastern.

The placement has been priced at 20 cents per share, compared to its last trading price of 23.5 cents in mid August.

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