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Golden State Mining Ltd. ( (AU:GSM) ) has provided an announcement.
Golden State Mining has overhauled its leadership and capital structure, appointing a new three-member board with geological, mining and commercial expertise, installing Keith Middleton as managing director and adding Chris Tuckwell as a non-executive director, while completing a $1.5 million two-stage capital raising to stabilise its balance sheet and fund West Australian projects. Against a backdrop of heightened corporate and exploration activity in the Northern Pilbara following major project acquisitions by larger players, the company is refocusing its Yule Project strategy, shifting from previously unsuccessful, limited drilling campaigns to a more data-driven and geology-first desktop review aimed at redefining gold targets and exploration methods, with strict cost discipline and minimal expenditure commitments as it seeks to leverage regional learnings and its board’s networks for new exploration and early-stage mining opportunities.
More about Golden State Mining Ltd.
Golden State Mining Limited is an Australian exploration company focused on gold, lithium and base metals, with its key assets including the Yule Project on the northern edge of the Mallina Basin in Western Australia and the Southern Cross East Project. Listed on the ASX under the code GSM, the company targets intrusive-related and structurally hosted gold as well as LCT pegmatite mineralisation, positioning itself within the active Northern Pilbara exploration district.
Average Trading Volume: 537,569
Technical Sentiment Signal: Buy
Current Market Cap: A$9.9M
Learn more about GSM stock on TipRanks’ Stock Analysis page.