Gold Road raises cash for exploration
PERTH (miningweekly.com) – ASX-listed Gold Road Resources has raised A$10-million through a share placement to existing and new institutional and sophisticated investors.
The explorer reported on Friday that it had placed 57.1-million shares, at an issue price of A$0.175 a share, to raise the capital. The issue price represented a 12.5% discount to Gold Road’s last trading price, and an 11% discount to the ten-day volume-weighted average price of the company’s shares.
The funds raised, along with existing cash reserves, would be used for an aggressive exploration programme at the Gruyere prospect, in Western Australia, as well as additional regional exploration along the Dorothy Hills trend and other high-priority Gold Camp targets.
Gold Road executive chairperson Ian Murray said that the strong demand for the placement reflected the potential of the Gruyere prospect, and the Yamarna greenstone belt.
He said the company was looking forward to advancing the Gruyere discovery, as well as undertaking the systematic testing of the other high-grade priority Gold Camp targets within the Yamarna belt.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















