Eastern Goldfields returns

AFTER an eight-month suspension and fight for survival, Eastern Goldfields has resumed trading on the ASX.

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Davyhurst

Shares last traded at 23.5c in August 2017, and the company completed a $30.6 million capital raising at 20c to recapitalise.

The raising included a $17.5 million cornerstone investment by Hawke's Point Holdings.

The stock opened 35% lower at 15c and was last trading more than 27% lower at 17c.

Eastern Goldfields executive chairman Mike Fotios partially underwrote and participated in the raising.

Fotios' Investmet remains the largest shareholder with 16.6% (Fotios personally holds another 2.2%), while Hawke's Point has 12.1%.

Eastern Goldfields shares were suspended when one of its creditors applied to have the company wound up over an unpaid debt.

The debt was paid and the order successfully thrown out, but the fledgling gold miner sti...