Flynn Gold launches $3.04 million rights issue for exploration

Flynn Gold Limited has announced a renounceable pro-rata rights issue to raise approximately $3.04 million before costs. The capital is intended to support exploration and development initiatives for the company’s gold projects in Tasmania.

Eligible shareholders in Australia or New Zealand as of 30 September 2026 can subscribe for one new fully paid ordinary share for every three existing shares held, priced at $0.015 per share. The offer includes one free-attaching option for every two new shares issued, with an exercise price of $0.03.

Mahe Capital Pty Ltd is partially underwriting the issue for $1.5 million. Additionally, the Lowell Resources Fund has committed $200,000, and company directors have expressed intent to participate in all or most of their entitlements.

The funds will be used for resource definition drilling at the Golden Ridge project and completing the maiden Mineral Resource estimate for the Firetower project, alongside general working capital requirements. The application period is scheduled to close on 16 October 2026.