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Great Western Exploration Limited ( (AU:GTE) ) has issued an update.
Great Western Exploration has secured approximately A$3.75 million through a placement of about 208 million new shares at A$0.018 each, fully funding a suite of copper-gold drilling programmes at its Yerrida North project in Western Australia. The capital raise underpins imminent drilling at the Oval target, to be followed by campaigns at Diorama, Juggernaut and Baroo, all located near Sandfire’s DeGrussa copper-gold deposit, and signals a concerted push to make a major discovery that could materially enhance the company’s exploration pipeline and value proposition for shareholders, with board members also participating in the placement subject to approval.
The most recent analyst rating on (AU:GTE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Great Western Exploration Limited stock, see the AU:GTE Stock Forecast page.
More about Great Western Exploration Limited
Great Western Exploration Limited is an Australian mineral exploration company focused on copper-gold volcanogenic massive sulphide (VHMS) targets, particularly within its 100%-owned Yerrida North Copper-Gold Project in Western Australia near the DeGrussa copper-gold deposit. The company is advancing multiple prospects, including Oval, Juggernaut, Diorama and Baroo, as part of its strategy to discover significant DeGrussa-style copper-gold deposits in a highly prospective mining region.
Average Trading Volume: 831,872
Technical Sentiment Signal: Sell
Current Market Cap: A$10.22M
See more data about GTE stock on TipRanks’ Stock Analysis page.