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

  • May 08, 2020 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)


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