Great Southern Mining Raises $4.23m Through Share Placement

The latest update is out from Great Southern Mining Limited ( (AU:GSN) ).

Great Southern Mining has completed the issue of 151,324,286 fully paid ordinary shares at $0.028 each under its Listing Rule 7.1 and 7.1A placement capacities, raising $4.23 million before costs from institutional, sophisticated and existing shareholders. A further 14,285,714 shares are planned to be issued to directors and management on the same terms, subject to shareholder approval at a general meeting expected in May 2026, with the company confirming compliance with relevant Corporations Act disclosure and reporting obligations.

The company has stated that the placement securities were issued without a prospectus under the Corporations Act’s cleansing provisions and that there is no excluded information that must be disclosed under sections 708A(7) and 708A(8). The capital raising strengthens Great Southern Mining’s balance sheet and provides additional funding flexibility, while the director and management participation signals internal support for the company’s strategy, though it remains contingent on shareholder approval.

The most recent analyst rating on (AU:GSN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Great Southern Mining Limited stock, see the AU:GSN Stock Forecast page.

More about Great Southern Mining Limited

Great Southern Mining Limited is an ASX-listed resources company focused on mineral exploration and development in Australia. The company raises capital from institutional, sophisticated and existing investors to fund its ongoing projects and corporate activities within the mining sector.

Average Trading Volume: 1,132,405

Technical Sentiment Signal: Sell

Current Market Cap: A$25.92M

See more insights into GSN stock on TipRanks’ Stock Analysis page.