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Gorilla Gold Mines Ltd (ASX:GG8)

ALERT: Price-sensitive ASX Announcement for GG8
Current share price for GG8 : $0.205 -0.085 (-29.31%)+
Announcement
Release
31 Jul 2026 4:34PM
Price at Release
$0.290
Full Release
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Summary
Gorilla Gold Mines Ltd reported that no substantive mining production and development activities were undertaken in the quarter ending June 2026. Key financial highlights included a cash balance of $19.7 million, largely consumed by $9.6 million in operating and investing cash outflows, primarily directed towards exploration and development. The company detailed payments to related parties and received funding support from EIS for its Vivien drilling campaign. Capital structure remained stable, with significant exploration success at the Comet Vale Gold Project, including four new high-grade gold discoveries. Additionally, the Labyrinth Project's historical data review indicated potential tungsten mineralization.
Key Points
  • Gorilla Gold Mines Ltd did not undertake substantive mining production and development activities during the quarter.
  • Payments to related parties included Directors’ Fees of $67.2k, legal fees to a firm partly owned by a related party, and software subscription fees with an entity associated with a Director.
  • Cash on hand at the end of the quarter was $19.7 million.
  • Operating and investing cash outflows for the quarter totaled $9.6 million, primarily for exploration and development activities.
  • The company received $144k from EIS funding relating to the Vivien drilling campaign.
  • The current capital structure includes 732,653,065 ordinary shares and 9,000,000 unlisted options.
  • Four new high-grade gold discoveries were made at the Comet Vale Gold Project.
  • The Labyrinth Project's potential for tungsten as a secondary by-product is under review.
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.