Greatland Gold (GB:GGP) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Greatland Gold plc has conditionally placed over five billion new shares to raise approximately £248.6 million for the acquisition of the Havieron gold-copper project and the Telfer gold-copper mine, aiming to become a significant producer of gold and copper. The Placing was oversubscribed, indicating strong investor support, and the funds will cover the cash consideration for the acquisition, debt repayment, and other related costs. The deal is a reverse takeover under AIM rules, requiring shareholder approval, with a General Meeting scheduled for the end of September 2024.
For further insights into GB:GGP stock, check out TipRanks’ Stock Analysis page.