Labyrinth Resources Limited ( (AU:GG8) ) has provided an update.
Gorilla Gold Mines Ltd announced a successful institutional placement raising A$25 million to accelerate its high-grade gold exploration strategy. The funds will enhance exploration at the Lakeview discovery and maintain momentum at other projects, positioning the company with a strong cash balance of approximately A$39 million, thus reinforcing its industry positioning and potential growth, benefiting stakeholders.
More about Labyrinth Resources Limited
Gorilla Gold Mines Ltd is a company operating in the mining industry, focusing on the exploration and development of high-grade gold projects. The company is actively engaged in exploration activities at its Lakeview discovery and other projects such as Comet Vale, Mulwarrie, and Vivien, primarily targeting resource investors in the domestic and international markets.
YTD Price Performance: 53.85%
Average Trading Volume: 906,556
Technical Sentiment Signal: Hold
Current Market Cap: A$224.5M
For a thorough assessment of GG8 stock, go to TipRanks’ Stock Analysis page.