Great Boulder completes $6 million capital raise following shortfall shares allocation from entitlement

Great Boulder Resources (ASX:GBR) has completed its $6 million capital raising following the allocation of shortfall of shares from its recent entitlement offer.

Just over 7 million new shares have been issued to raise $575,664 under the shortfall offer. A total of $3.534 million has now been received by Great Boulder for the entitlement offer.

The funds being raised will help fund exploration and drilling at its flagship Side Well Gold Project and to execute a maiden exploration program at the Wellington Base Metal Project in the Earaheedy Basin.

Meanwhile, an additional $1 million was raised to accommodate the excess demand from professional and sophisticated investors following completion of the entitlement offer.

In conjunction with the $1.5 million announced on 16 March, the company has now raised $6 million to fund its exploration programs.

Great Boulder Resources is an ASX-listed mineral exploration company with a portfolio of ‘highly prospective’ gold and base metals assets ranging from greenfields through to advanced exploration located in Western Australia.

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.