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Great Boulder Resources Ltd ( (AU:GBR) ) has shared an update.
Great Boulder Resources has secured firm commitments to raise $40 million through a two-tranche placement at $0.085 per share to fund the acquisition of Westgold Resources’ Peak Hill Gold Project in Western Australia. The project lies close to Westgold’s Bluebird, Fortnum and Tuckabianna mills and about 100km from Great Boulder’s existing Side Well Gold Project, enhancing the company’s regional footprint.
Post-transaction, the company expects to hold a pro-forma net cash balance of about $25 million, enabling aggressive drilling programs of around 60,000m across Peak Hill and Side Well and progression of pre-production and engineering activities. Management says the deal, backed by strong support from domestic and global institutional investors, is transformational and underpins a fast-track, capital-light production strategy including an updated mineral resource estimate for Peak Hill within six months.
More about Great Boulder Resources Ltd
Great Boulder Resources Ltd is an Australian gold exploration and development company focused on Western Australia. Its core assets include the Side Well Gold Project and the newly acquired Peak Hill Gold Project, located near established processing infrastructure owned by Westgold Resources, positioning the company to pursue a capital-light pathway to gold production.
Average Trading Volume: 5,521,248
Technical Sentiment Signal: Hold
Current Market Cap: A$96.73M
For an in-depth examination of GBR stock, go to TipRanks’ Overview page.