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The latest announcement is out from Global Petroleum ( (GB:GEO) ).
GEO Exploration Limited has completed the acquisition of the Gorge Project in Western Australia, finalising ministerial consents, paying A$100,000 in cash and issuing 48.13 million consideration shares, alongside 18.47 million shares to a consultant for technical and commercial support on the deal. The licence, which covers 81 sq km in the Capricorn Orogen, has shown historic high-grade gold mineralisation and multiple near-surface nuggets, and the company plans modern, systematic exploration to refine targets ahead of initial drilling, while in parallel pursuing a farm-out of its Namibian offshore licence PEL0094 amid renewed industry interest and preparing for admission of the new shares to trading on AIM, increasing its issued share capital to 5.66 billion shares.
More about Global Petroleum
GEO Exploration Limited (AIM: GEO) is a junior exploration company focused on gold and petroleum assets, with key projects including the Gorge gold exploration licence in Western Australia and a 78% interest in offshore Petroleum Exploration Licence 0094 in Namibia’s Walvis Basin.
Average Trading Volume: 80,502,411
Technical Sentiment Signal: Strong Sell
Current Market Cap: £7.7M
For an in-depth examination of GEO stock, go to TipRanks’ Overview page.