Flynn Gold secures A$1.5 million through rights issue

Flynn Gold Limited has successfully completed a renounceable rights issue, raising A$1.5 million before costs. The capital raising, which closed on 28 October 2026, will result in the issuance of 99,999,998 new fully paid ordinary shares and approximately 50 million new options.

The Australian mineral exploration company intends to use the net proceeds to advance its projects in Northeast Tasmania. Specifically, funds are earmarked for progressing the mineral resource estimate for the Firetower Gold-Tungsten Project and continuing resource definition activities at the Golden Ridge Project.

Mahe Capital Pty Ltd acted as the Lead Manager and Underwriter for the transaction. The company noted that its directors participated in the rights issue, signaling confidence in the firm's future prospects despite challenging market conditions.