Green & Gold Minerals (ASX:GG1) has launched a one-for-two renounceable rights issue at $0.10 per share to raise $3.2 million before costs for copper exploration at Herberton and gold resource growth at Chillagoe.
The rights issue price represents a 29% discount to the company’s last close of $0.14 and a 30% discount to the 30-day volume-weighted average price of $0.1435.
Rights trading commences on 9 September 2026, with the offer closing on 30 September 2026.
Eligible shareholders receive one free attaching option for every two new shares, with the options exercisable at $0.20 and expiring in 2.5 years. The company will apply for quotation of new shares and options on the ASX.
Chairman Tony Bellas says the offer enables existing shareholders to support the company’s growth strategy at an ‘attractive’ price.
“Green & Gold Minerals is well positioned to benefit from the powerful long-term market themes supporting both copper and gold,” Bellas notes.
“Funds raised will advance the company’s two principal value drivers: continued exploration of the suite of compelling copper-silver-tin targets at the Herberton Conductor Metals Project, with the objective of making a significant new resource discovery; and development drilling and test work at Mt Wandoo.”
Green & Gold notes all directors intend to participate in the rights issue, which is being managed by Mahe Capital.
Copper exploration at Herberton
Green & Gold aims to extend the Copper Hills discovery within the Herberton Project, which recently returned 5m @ 131 grams per tonne silver (Ag), 1.05% copper (Cu), 205g/t indium, 0.37% tin (Sn), 9.1% zinc, and 1.1% lead from 102m.
Green & Gold notes additional drilling will target priority copper-silver prospects at Siberia-Mt Gossan and Elizabeth Bluffs. At Siberia-Mt Gossan, the company will test down dip of historic drill holes including SPH15, which returned 8m @ 2.59% Cu, 39g/t Ag, and 0.32% Sn.
Meanwhile, sampling along an adit at Elizabeth Bluffs returned 8.5m @ 1.08% Cu and 0.44% Sn. Rock chip samples from the area have returned silver values up to 684g/t in fresh rock.
Gold resource growth at Chillagoe
At the Chillagoe Gold Project, the company intends to focus on resource growth drilling at Mt Wandoo and metallurgical testwork for ore sorter evaluation.
Mt Wandoo currently hosts an inferred mineral resource estimate of 32,000 ounces of gold and 387,000 ounces of silver at 1.1g/t Au and 13g/t Ag.
Drilling at Mt Wandoo will target North Wandoo and Little Wandoo, testing up-dip extensions of mineralisation and continuity beyond the existing resource boundary, where recent drilling returned 19m @ 2.9g/t Au and 8m @ 3.9g/t Au.
Follow-up drilling will also take place at Sentinel, where recent work intersected four narrow mineralised zones including 3g/t Au.
Drilling at Mt Wandoo is scheduled to commence this month, September 2026, followed by drilling at Herberton.
Green & Gold Minerals is an Australian mineral explorer focused on discovering and developing gold, silver, copper, and critical energy metals.
Write to Paula Fabe at Mining.com.au
Images: Green & Gold Minerals
