JOHANNESBURG (miningweekly.com) – ASX-listed GBM Resources has completed a A$2.6-million capital raising to advance its Mt Coolon gold project, in Queensland, and for working capital purposes.
The funds were raised through the placement of 160.5-million shares at 1.6c apiece to professional and sophisticated investors.
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GBM believes the targeted deposits at Mt Coolon have the potential to produce gold in the short to medium term.
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Edited by: Creamer Media Reporter
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