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Great Divide Mining Ltd ( (AU:GDM) ) just unveiled an announcement.
Great Divide Mining Ltd has successfully raised approximately A$2.05 million through a placement of new shares to sophisticated and professional investors. The funds will be used to progress gold production and expansion activities at the Challenger Gold Mine and the Adelong Project, as well as to support exploration efforts in Queensland. This capital injection is pivotal for GDM as it transitions from a pure explorer to a producer/explorer, enabling the recommissioning and expansion of the Challenger plant, which is expected to unlock its full potential and generate cash flow.
More about Great Divide Mining Ltd
Great Divide Mining Ltd (ASX: GDM) is a gold, antimony, and critical metals miner, explorer, and developer with five projects across 17 tenements. The company focuses on operating producing assets within historically mined areas with existing infrastructure, facilitating rapid development. GDM aims to generate cash flow from initial projects to support further exploration across its portfolio of highly prospective tenements.
YTD Price Performance: 108.70%
Average Trading Volume: 50,268
Technical Sentiment Signal: Sell
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