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.

Gold MTF non-AMP

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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