GHM – Golden Horse Minerals Limited
@TimeISmoney mentioned the golden horse in a broad sense. … this is a show pony
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A$35 MILLION PLACEMENT TO
ACCELERATE GROWTH AT THE HIGH-GRADE SOUTHERN CROSS GOLD PROJECT
Highlights:
• Firm commitments received to raise A$35.0 million at an Issue price of A$0.66 per New CDI
• Placement strongly supported by new and existing shareholders, including a string of leading offshore and domestic specialist resource focused institutions.
• Emerald Resources NL, the Company’s major shareholder, and Directors of the Company have subscribed for approximately A$6.9 million and A$160,000 respectively, under the Placement, both subject to shareholder approval at the upcoming Annual General Meeting.
• Proceeds will be primarily used to:
>o Expand exploration and resource growth drilling at Hopes Hill and along the +4km Hopes Hill trend, where extensive mineralisation has already been defined;
>o Accelerate drilling at high-priority regional targets across the Southern Cross Gold Project, located in one of the most prospective and underexplored gold belts in Western Australia;
>o Initiate early mining studies, advance metallurgical test work, and complete phase one resource modelling at Hopes Hill; and
>o Support general working capital and corporate development initiatives.
