InvestSMART

Golden Dragon Mining Ltd (ASX:GDR)

ALERT: Price-sensitive ASX Announcement for GDR
Current share price for GDR : $0.185 0.015 (8.82%)+
Announcement
Release
29 Jul 2026 9:56AM
Price at Release
$0.170
Full Release
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Summary
Golden Dragon Mining Ltd has entered into a Subscription Agreement with Chengtun Gold (Hong Kong) Limited for an investment of A$2.2 million. Chengtun Gold will acquire 11,000,000 fully paid ordinary shares at A$0.20 per share, representing a 19.89% equity interest and a 17.65% premium to the last closing price. This investment will be used to accelerate exploration activities at Golden Dragon's Cue Gold Project, focusing on the Coodardy Prospect and broader project area. Chengtun Gold will have the right to nominate a director to Golden Dragon's board, contingent on maintaining at least a 15% shareholding. The agreement includes a two-year standstill on acquiring additional shares without board approval and a redemption right if compelled by a Government Agency to divest shares. This strategic partnership aligns with Chengtun Mining's focus on expanding its footprint in the gold and precious metals sector and provides Golden Dragon with a strong financial platform for exploration advancement.
Key Points
  • Chengtun Gold to invest A$2.2 million in Golden Dragon Mining Ltd.
  • Investment involves acquiring 11,000,000 shares at A$0.20 each, a 19.89% stake.
  • Funds to accelerate exploration at the Cue Gold Project.
  • Chengtun Gold gains board nomination rights with a maintained 15% shareholding.
  • Agreement includes a two-year standstill and a redemption right if required by law.
  • Partnership supports strategic growth in gold and precious metal sectors.
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.