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Golden State Mining Limited (ASX:GSM)

ALERT: Price-sensitive ASX Announcement for GSM
Current share price for GSM : $0.012 -0.004 (-25%)+
Announcement
Release
21 Nov 2025 8:19AM
Price at Release
$0.016
Full Release
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Summary
Golden State Mining Limited has completed a $1.5 million capital raising through share placement at 0.8 cents per share, inclusive of options, following shareholder approval. Keith Middleton has been appointed as the new Managing Director, marking a significant change in the board. The company is conducting a strategic review of its existing gold projects and exploring new opportunities. The completed Tranche 2, which raised $1 million through the issuance of 125 million shares and options, was well-supported by investors. The funds will be used for ongoing gold exploration in Western Australia and evaluating new projects. Middleton's participation in Tranche 2 awaits further shareholder approval. The board is actively reviewing the company's project portfolio to align with future strategic initiatives.
Key Points
  • $1.5M Placement completed at 0.8 cents per share with attaching options after shareholder approval.
  • Keith Middleton appointed as Managing Director.
  • Strategic review is underway to assess existing gold projects and new opportunities.
  • Tranche 2 involves 125 million shares and options, raising $1 million, with strong investor support.
  • Funds raised are allocated for gold exploration in Western Australia and potential new project acquisitions.
  • Keith Middleton's participation in Tranche 2 is pending shareholder approval.
  • Company is reviewing its project portfolio and developing a forward-looking strategy.
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.