GBM Resources (ASX:GBZ)

GBM Resources (ASX:GBZ) successfully raises $6.5m

Henslow and Bell Potter acted as Joint Lead Managers to raise a total of $6.5m. Funds raised will be used to continue GBM’s strategy and consolidation of assets in the Drummond Basin along with the further expansion of drilling activities at the Mount Coolon Gold Project. The placement was strongly supported by a range of institutional and existing professional investors. Following the raise, GBM will be in a strong position with cash and marketable securities (i.e. shares in Novo Resources Corp. following the completion of the Malmsbury JV agreements in the coming weeks) of over $17.5m.

A key player with a focus on delivering significant gold resources.

GBM Resources is a mineral exploration and development company focused on the discovery of world-class gold and copper deposits in Eastern Australia. The company has a high calibre project portfolio, hosting district-scale mineral systems, located in a number of premier metallogenic terrains including the Drummond Basin, Mt Morgan district and the Mt Isa Inlier in Queensland, and the Malmsbury Project in the prolific Victorian Goldfields.

The Highlights

  • $6.5m

    recently raised

  • $12.2m

    raised to date

Unearthing discoveries through increased capital

This is the second capital raise that Henslow has advised GBM on and we look forward to working with them as they continue to progress drilling activities in the highly prospective Drummond Basin.


July 2020

$5.7m Entitlement Offer & Placement

October 2020

$6.5m Capital Raise

We are pleased with the level of support from our existing shareholders for the Offer and also for the strong interest shown by new investors to our investment proposition and our progress to date. These placements along with earlier placements in 2020, will result in GBM having an excess of $7.5 million (in cash and marketable securities on completion of the Offers and Placement) and will support our strategy to accelerate development and exploration activities across our portfolio.

Peter Rohner, MD and Ceo of GBM Resources