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Mineral exploration company, Great Boulder Resources Limited (ASX:GBR) has changed its provider for shareholder registry services from Security Transfer Australia to Automic which is located in Level 2, 267 St Georges Terrace Perth Western Australia (WA). Following the release, GBRâs shares uplifted by 3.571 percent on ASX as on 4 January 2019 (AEST 2:31 PM).Â
The shareholders of the company can easily and efficiently manage their holdings through Automicâs secure and highly accessible online Investor portal. Through the investor portal, the shareholders can update and maintain their details and view balances and transaction history.
Recently, the company announced that it had completed its revised geological interpretation of Eastern Mafic which was based on the latest drilling and geophysical results. After the interpretation, the company announced that it would embark on a deep drilling program to test high-grade nickel targets in the core of Eastern Mafic intrusion.
The latest drilling and geophysical results have interpreted high-grade nickel sulfide at the Eastern Magic. Further, the results have defined the shape and geometry of the Eastern Mafic, and they are also used in mapping discrete magma pulses hosting nickel sulfide.
The company also announced that it would undertake a diamond drill program beneath Zermatt, ML13 and Ben Lomond, for the identification of massive accumulations of nickel sulfide and magma pulses that could have higher nickel tenor and grade.
In July 2018, the company issued 250,000 fully paid ordinary shares as a result of unlisted options being exercised. Further in September 2018, the company confirmed that it had earned a 75 percent interest in the Yamarna Joint Venture. During the year, the company withdrew its stake from the Balagundi and Broadwood Joint Ventures with Eastern Goldfields Mining Company Pty Ltd. In September 2018, the company entered into a term sheet with Gold Road (South Yamarna) Pty Ltd where the company has acquired an option to acquire 100 percent of Exploration License 38/2902.
In October 2018, the company entered into a binding option agreement with Ausgold Limited to form a Joint Venture over Ausgoldâs Yamarna nickel project in Western Australia which is a major step forward for the company to become a significant copper-nickel-cobalt explorer.
In FY 2018, the company reported a loss of $1,372,170 (2017: loss $697,578) and declared no dividend. As at 30 June 2018, the company was having total current assets $3.83 million and total current liabilities $0.32 million. As at 30 September 2018, the company was net cash from used in operating activities of $1.24 million, net cash used in investing activities of $125k and net cash from financing activities of $48k. At the end of the September quarter, the company was having Cash and cash equivalents of $2.3 million.
In the last six months, the share price of the company decreased by 68.89 percent as on 2 January 2019. GBRâs shares traded at $0.145 with a market capitalization of circa $11.22 million as on 4 January 2019 (AEST 3:48 PM).
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