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Golden State Mining Limited (ASX:GSM)

ALERT: Price-sensitive ASX Announcement for GSM
Current share price for GSM : $0.011 -0.008 (-42.11%)+
Announcement
Release
27 Oct 2025 8:16AM
Price at Release
$0.019
Full Release
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Summary
Golden State Mining Limited (GSM) has released its September 2025 Quarterly Report, detailing financial activities and project developments. The company raised $1.5 million through a placement of shares and options to investors, aiming to fund ongoing and new exploration projects in Western Australia. The report highlights that GSM had a net cash usage in operating activities amounting to $381,000, balanced by a $500,000 inflow from financing activities, resulting in cash and cash equivalents at the end of the quarter totaling $839,000. The funds are earmarked for current gold-focused exploration and potential new project acquisitions. Additionally, changes in the board were noted, with Alex Tunnadine joining as a Non-Executive Director and Brenton Siggs resigning. The report also outlines exploration expenditures and confirms no material mining production or development expenditures occurred during the quarter.
Key Points
  • Raised $1.5 million through share placement.
  • Net cash used in operating activities was $381,000.
  • Cash and equivalents at quarter-end were $839,000.
  • Funds to support ongoing and new exploration projects.
  • Board changes: Alex Tunnadine joins, Brenton Siggs resigns.
  • No material mining production or development expenditures in the quarter.
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.