Great Southern Mining Receives Firm Commitments for $3,150,000 Placement

May 08, 2020 12:21 PM AEST
Team Kalkine

A shot in the arm for Great Southern Mining Limited (ASX:GSN) as it received firm commitments to raise $3,150,000 comprising of 70,000,000 Fully Paid Ordinary Shares at $0.045 per Share, 1 free attaching Listed Option for every 4 Placement Shares issued, and 2,500,000 GSNOA Listed Options and 10,000,000 unlisted options to be issued for corporate services to the Lead Manager.

The proceeds from the capital raising shall be utilised to finance an accelerated exploration program at its 100% owned Cox’s Find Gold Project located in Western Australia.

With two brownfields drill out opportunities in highly endowed gold districts, GSN is said to be in a strong position to unlock value for shareholders and is well funded to undertake aggressive exploration programs across all three projects during 2020.

Stock skyrockets on ASX, up 25% and trading at $0.06 with a market cap of $16.03 million (as on 08 May 2020, AEST: 11:35AM)

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.