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Global Petroleum ( (GB:GEO) ) has issued an announcement.
GEO Exploration Limited has successfully raised £1.25 million through a share placement to fund its exploration activities, including the Juno and Gorge Projects in Australia and potential developments in Namibia. This capital raise, completed at a 21.7% discount to the previous closing price, reflects strong investor confidence in GEO’s strategic direction and technical progress. The funds will support ongoing and planned exploration, provide working capital, and enable the company to pursue opportunities in Namibia’s Walvis Basin, positioning GEO to deliver long-term value for shareholders.
More about Global Petroleum
GEO Exploration Limited operates in the exploration industry, focusing on the discovery and development of mineral resources. The company is primarily involved in projects across Australia and Namibia, with a market focus on advancing exploration activities and capitalizing on emerging opportunities in these regions.
Average Trading Volume: 63,735,349
Technical Sentiment Signal: Sell
Current Market Cap: £12.01M
Learn more about GEO stock on TipRanks’ Stock Analysis page.