Great Boulder Resources prepares gold development path
November 23, 2023 at 07:51 pm
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Great Boulder Resources Ltd (ASX:GBR) MD Andrew Paterson speaks with Proactive after announcing the company has received binding commitments to raise $4.5 million before costs in a placement offering shares at $0.05 per share. The placement received strong support from existing major shareholders Zebina Minerals and Lion Selection Group, and was cornerstoned by institutional investor Collins St Asset Management, which subscribed for 41 million new shares in return for $2.05 million.
Paterson said: “This successful capital raise in difficult market conditions is a strong validation of the Side Well Project, the Great Boulder team and the current strategy in place to maximise shareholder value.
“Following our first drilling program in August 2020, Side Well now has a high-grade resource of 668,000 ounces, providing a strong growth platform to prove up the project’s multi-million-ounce potential."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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Great Boulder Resources Limited is a mineral exploration company with gold and base metal projects in Western Australia. The Companyâs key focus is exploration and development of the high-grade Side Well Gold Project near the historic gold camp of Meekatharra in the Murchison region. The Side Well Project is a group of 12 prospecting leases and one exploration license covering more than 150 square kilometers around the town of Meekatharra in the Murchison region. The Side Well Gold Project is a high-grade gold project in the heart of a multi-million-ounce field. It is located adjacent to Meekatharra in Western Australia. The Side Well project covers a 28 kilometers (km) strike extent of prospective, under-explored greenstone stratigraphy at Meekatharra. Its Whiteheads project is located approximately 40 km north of Kalgoorlie in Western Australia, and north of the Kanowna Belle gold mine. Its Wellington project is located 150 km east of Wiluna in the Earaheedy Basin in central Western.