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Gold Mountain Limited (ASX:GMN)

ALERT: Price-sensitive ASX Announcement for GMN
Current share price for GMN : $0.076 -0.029 (-27.62%)+
Announcement
Release
29 Apr 2026 3:10PM
Price at Release
$0.105
Full Release
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Summary
Gold Mountain Limited (ASX: GMN) reported on its quarterly activities and cash flow, highlighting a $5.5 million placement from its substantial shareholders to be completed in two tranches. The company continues its focus on mineral exploration, particularly rare earth elements and niobium in Brazil, and is also engaging in exploring lithium, nickel, copper, and gold. During the quarter, exploration expenditure amounted to $962k, with no production or development activities taking place. The company holds several mining tenements across Brazil and Papua New Guinea and is committed to advancing its projects in these regions.
Key Points
  • The company announced a $5.5 million placement from substantial shareholders.
  • The placement will be completed in two tranches, with Tranche 1 being $1.0 million and Tranche 2 being $4.5 million.
  • Tranche 1 will be issued without shareholder approval under existing placement capacity.
  • Tranche 2 is subject to shareholder approval.
  • Gold Mountain Limited focuses on mineral exploration, particularly rare earth elements and niobium in Brazil.
  • The company also explores lithium, nickel, copper, and gold.
  • Exploration and evaluation expenditure for the quarter was $962k.
  • No production or development activities were reported for the quarter.
  • The company holds various mining tenements in Brazil and Papua New Guinea.
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.