GBM Resources (ASX:GBZ) has raised US$1.0 million via a placement

GBM Resources has completed a fundraising. Funds raised will be used to accelerate exploration and drilling on the highly prospective Drummond Basin, specifically at Twin Hills and Yandan, over the next 12 months.

GBM Resources is a mineral exploration and development company focused on the discovery of world-class gold and copper deposits in Eastern Australia. The company has a high caliber project portfolio, hosting district-scale mineral systems, located in several premier metallogenic terrains, including the Drummond Basin, Mt Morgan district and the Mt Isa Inlier in Queensland, and the Malmsbury project in the prolific Victorian goldfields.

Oaklins’ team in Australia acted as lead manager on a AU$1.5m (US$1 million) share placement for GBM Resources that was strongly supported by two institutional cornerstone investors. This is the fifth capital raise where Oaklins has advised GBM Resources, and we look forward to further strengthening our relationship as they continue to progress exploration and drilling activities.