- GBM Resources (GBZ) has entered back-to-back trading halts ahead of a capital raise and project acquisition
- While the amount the company will raise and which asset it will acquire is not yet known, GBM has described both as ‘material’ to the company
- Currently, GBM is focused on various gold and copper projects across Australia
- Several assets are wholly-owned and two are held in earn-in agreements
- Company shares last traded for 15 cents on Tuesday, October 13
GBM Resources (GBZ) has entered back-to-back trading halts ahead of a capital raise and project acquisition.
The company will remain in the halts until Tuesday, October 20, unless details of the acquisition and capital raise are released sooner.
While the amount the company will raise and which asset it will acquire is not yet known, GBM has described both as ‘material’ to the company.
GBM Resources is an Australian-based explorer with multiple assets. It holds a 100 per cent interest in the Brightlands and Milo, Mayfield, Mount Morgan, Malmsbury, and Mount Coolon projects, each of which is prospective for copper and/or gold.
The company is also earning an initial 50 per cent interest in the White Dam Project with an option to increase its stake to 100 per cent. It also has a 46.2 per cent interest in the Pan Pacific Project.
Company shares last traded for 15 cents on Tuesday, October 13.