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GBM Resources Limited (ASX:GBZ)

ALERT: Price-sensitive ASX Announcement for GBZ
Current share price for GBZ : $0.029 -0.026 (-47.27%)+
Announcement
Release
9 Oct 2025 9:42AM
Price at Release
$0.055
Full Release
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Summary
GBM Resources Limited (ASX: GBZ), based in Queensland, Australia, has announced a successful institutional placement to raise approximately A$40 million. This capital raise, led by Wise Walkers Limited and supported by both existing and new institutional investors, aims to strengthen the company's efforts in advancing exploration and development activities at its Drummond Basin portfolio. The placement involves issuing approximately 752 million new shares, with an issue price set at A$0.053 per share, which represents a slight discount to the current market price. The funds will be utilized to grow the existing resource base at the key Twin Hills and Yandan deposits, and to undertake systematic exploration of new regional targets. This initiative underscores GBM's strategy to unlock the full potential of its assets in the Drummond Basin, which currently holds approximately 1.84 million ounces of gold in JORC resources.
Key Points
  • GBM Resources Limited announces a $40 million institutional placement.
  • Wise Walkers Limited leads the placement, committing A$8.05 million.
  • The placement is aimed at advancing the Drummond Basin projects.
  • Approximately 752 million new shares to be issued at A$0.053 each.
  • Funds to support exploration and development in the Drummond Basin.
  • GBM's Drummond Basin assets hold ~1.84 million ounces of gold.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.