Great Boulder Resources Limited (ASX:GBR)

ALERT: Price-sensitive ASX Announcement for GBR

Current share price for GBR : $0.098 0.01 (11.36%)⁺

Announcement

$40M Placement to Fund Peak Hill Gold Project

Release

5 May 2026 8:54AM

Price at Release

$0.088

Full Release

Summary

Great Boulder Resources Limited (ASX: GBR) announced it has secured $40 million through a two-tranche placement to fund the acquisition of the Peak Hill Gold Project from Westgold Resources Limited. This acquisition is expected to be transformational, enhancing their current Side Well Gold Project and setting them on a pathway to capital light production. The placement attracted strong interest from domestic and international institutional investors, demonstrating significant support for the acquisition and Great Boulder's strategy. The funds will be utilized for drilling campaigns and pre-production activities, with an updated mineral resource estimate for Peak Hill anticipated within six months.

Key Points

Great Boulder to acquire Peak Hill Gold Project from Westgold.
$40M raised via placement to institutional investors.
Placement includes 470.6 million new shares at $0.085 per share.
The acquisition adds significant gold endowment to existing projects.
Funds allocated for aggressive drilling and pre-production activities.
Expected shareholder approval for Tranche 2 in mid-June 2026.
Argonaut Securities and others acted as lead managers for the placement.
Strong financial position post-acquisition with $25 million in cash.

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.