Great Divide Mining Ltd (ASX:GDM) is pleased to announce the successful completion of its convertible note raising, which received strong support from both new and existing shareholders.
The raising closed well above the $1.0 million target, highlighting investor confidence in GDM’s rapid progress from explorer to gold producer.
The majority of funds will be invested to further upgrades of the Challenger Gold Mine at Adelong, NSW, accelerating the transition toward sustainable, continuous operations.
A key focus will include the expansion of the site’s processing plant, including the introduction of spiral separation technology designed to deliver continuous gold recovery
“This funding positions GDM to meet its commitments at Challenger to steadily increase throughput and to support near-term annualised production targeting over 20,000 oz of gold,” said Justin Haines, GDM’s CEO.
“GDM welcomes our new investors and sincerely thanks our existing shareholders for their strong endorsement,” said Haines.
“With strong investor backing, GDM remains focused on advancing Challenger to commercial gold production, while building long-term, sustainable cash flow,” said Haines.
“The funds raised exceeded our $1.0m target. We must be doing something right,” smiles Haines.
For further information:
Justin Haines, CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
Great Divide Mining Ltd (ASX: GDM)
Great Divide Mining is an Australian Gold, Antimony and critical metals miner, explorer and developer with five projects across 17 tenements (including two in application). GDM’s focus is on operating producing assets within areas of historical mining and past exploration with nearby infrastructure, thus enabling rapid development. Through a staged exploration and development programme, GDM intends to generate cash flow from its initial projects to support further exploration across its portfolio of highly prospective tenements.
