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Golden State Mining Limited (ASX:GSM)

ALERT: Price-sensitive ASX Announcement for GSM
Current share price for GSM : $0.012 0.001 (9.09%)+
Announcement
Release
1 Sep 2025 11:17AM
Price at Release
$0.011
Full Release
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Summary
Golden State Mining Limited (ASX code: GSM) announced a successful $1.5 million placement to sophisticated and professional investors through the issuance of 187,500,000 new shares at $0.008 each, with one free option for each share issued. The funds are intended to support ongoing gold exploration projects in Western Australia and potential acquisition opportunities. The placement was structured in two tranches, with Tranche 1 being unconditional and raising $500,000, and Tranche 2 conditional upon shareholder approval to raise $1,000,000. The appointment of Alex Tunnadine as a Non-Executive Director and the resignation of Brenton Siggs were also announced.
Key Points
  • Successful $1.5 million placement to support gold exploration.
  • Issue of 187,500,000 new shares at $0.008 each.
  • One free option per share, exercisable at 1.5 cents.
  • Funds to be used for Western Australia exploration projects.
  • Tranche 1 raised $500,000 unconditionally.
  • Tranche 2 to raise $1,000,000, subject to shareholder approval.
  • Appointment of Alex Tunnadine as Non-Executive Director.
  • Resignation of Brenton Siggs from the board.
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.