GBM Resources (ASX:GBZ) Raises $7.4m via Placement

Henslow and Taylor Collison acted as Joint Lead Managers to raise $7.4m for GBM Resources. Funds raised will be used to continue GBM’s aggressive exploration and ground acquisition strategy in the highly prospective Drummond Basin. 

GBM Resources is a gold exploration and development company with 1.5Moz gold JORC Resources focused on the discovery of world class gold deposits in Eastern Australia with three core projects: 

• Flagship Drummond Basin assets (100% GBZ) Mt Coolan (330koz @ 1.5 g/t Au), Yandan (521koz @ 0.8 g/t Au), Twin Hills (633koz @ 2.8 g/t Au); 

• Malmsbury Project 50% JV with Novo Resources for highly prospective “Fosterville style” gold target in Victorian goldfield 
• White Dam (100% cashflow generating gold copper heap leach operation)

This is the third capital raise Henslow has advised GBM and we look forward to further strengthening our relationship as they continue to progress drilling activities with assay results for recent drilling at Glen Evan due over the coming months.