leadf
logo-loader
viewGreat Boulder Resources Ltd

Great Boulder Resources directors demonstrate faith in gold strategy through rights issue participation

Funds raised will be used for an aggressive exploration program focused on the company’s gold projects at Side Well and Whiteheads in Western Australia.

Great Boulder Resources Ltd - Great Boulder Resources directors demonstrate confidence in the company’s gold strategy by participating in rights issue
Great Boulder is a mineral exploration company with projects in the Yilgarn region of Western Australia

Great Boulder Resources Ltd (ASX:GBR) directors have shown their confidence in the company’s gold strategy by participating in the recent rights issue.

The company completed its non-renounceable entitelement offer of 1 share for every 6 shares held by eligible shareholders at an issue price of 4.3 cents per new share on September 11.

Great Boulder received applications for shares valued at more than $1.236 million and received oversubscriptions to the tune of almost $280,000.

Change of director’s interests

Managing director Andrew Paterson acquired 33,227 shares in a direct interest on September 16, increasing the total number of securities held to 232,589.

Non-executive chairman Greg Hall purchased 233,333 shares in an indirect interest, increasing the total number of securities held to more than 1.633 million.

Proceeds to fund exploration

Funds raised will be used for an aggressive exploration program focused on the company’s gold projects at Side Well and Whiteheads, including:

  • An initial 2,000-3,000 metres RC program extending known gold hits at the Mulga Bill prospect;
  • An aircore program to be drilled as soon as possible after the RC, infilling the 400-metre gaps in drill coverage at Mulga Bill;
  • Additional aircore drilling to extend targets at Whiteheads, including the Blue Poles prospect at Arsenal;
  •  A large-scale soil sampling program over Mulga Bill, as well as sub-cropping areas along the east side and northern end of the Side Well project; and
  • Follow-up RC and aircore drilling at Side Well and Whiteheads following results of these initial programs.

Quick facts: Great Boulder Resources Ltd

Price: 0.048 AUD

ASX:GBR
Market: ASX
Market Cap: $9.03 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Great Boulder Resources Ltd named herein, including the promotion by the Company of Great Boulder Resources Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Great Boulder Resources soon to have two active gold programs following...

Great Boulder Resources Ltd's (ASX:GBR) Andrew Paterson speaks to Proactive after receiving strong commitments from investors to raise a total of $2.3mln to fund two gold exploration programs at the Side Well and Whiteheads projects in Western Australia. Gold mineralisation has been confirmed in...

on 10/8/20

2 min read