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G50 Corp Limited (ASX:G50)

ALERT: Price-sensitive ASX Announcement for G50
Current share price for G50 : $0.520 -0.14 (-21.21%)+
Announcement
Release
29 Jul 2026 9:59AM
Price at Release
$0.660
Full Release
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Summary
G50 Corp Limited has successfully raised approximately A$26.25 million through a single tranche institutional placement to fund exploration activities. The funds will be utilized for accelerated drilling and other exploration activities at the Golconda Project in Arizona and the White Caps Project in Nevada. The placement was well-supported by existing shareholders and new institutional investors, including a significant A$7.95 million commitment from Hancock Prospecting Pty Ltd. This financial backing is a testament to the confidence in G50's strategy to advance its U.S. portfolio of mineral assets, focusing on both precious and critical minerals.
Key Points
  • G50 Corp Limited raised A$26.25 million through an institutional placement.
  • The placement was conducted at A$0.595 per new share.
  • Funds will accelerate exploration at Golconda and White Caps projects.
  • Hancock Prospecting committed A$7.95 million, holding 5.4% of G50's issued capital post-placement.
  • Funds support drilling, geological studies, and gallium test work.
  • Bell Potter Securities and Morgans Corporate were lead managers for the placement.
  • The placement price was a 9.8% discount to G50's last closing price.
  • The placement received strong support from both existing and new investors.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.