What is the story about?
What's Happening?
Great Boulder Resources has obtained commitments to raise $5 million through a placement to fund exploration at the Side Well Gold Project in Western Australia. The company will issue 74 million shares at a price of $0.068 per share, with Canaccord Genuity acting as the lead manager. The placement is led by Tribeca Investment Partners and other institutional investors. Proceeds will support exploration activities, including the arrival of a fourth drill rig, as the company aims to define one million ounces of gold.
Why It's Important?
The funding secured by Great Boulder Resources highlights the company's growth potential and commitment to advancing its gold exploration projects. The investment reflects confidence in the Side Well Gold Project's prospects, potentially leading to significant resource discoveries. The involvement of institutional investors underscores the project's attractiveness and potential impact on the gold mining industry. This development may enhance Great Boulder Resources' market position and contribute to regional economic growth.
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