Highlights

  • Placement of 165.6 million new shares raises ~$4.6 million before costs
  • Directors and management commit $0.4 million, subject to shareholder approval
  • Funds to accelerate drilling at Duketon and Mon Ami gold projects

Great Southern Mining Limited (ASX:GSN) has secured firm commitments to raise approximately A$4.6 million through the issue of 165.6 million new shares. Directors and management will contribute an additional A$0.4 million, pending shareholder approval at a general meeting in May 2026. The proceeds will fund accelerated exploration across GSN’s 100%-owned Western Australian gold projects, with a primary focus on the Duketon Gold Project, including the Golden Boulder and Amy Clarke prospects. Drilling will also continue at the Mon Ami Gold Project in WA and high-potential JV targets in north Queensland, aiming to define new resources and high-grade mineralisation.

Western Australia Exploration Focus

Funds from the Placement will support a major drilling campaign across GSN’s Duketon Gold Project, targeting the Golden Boulder and Amy Clarke discoveries. The 2025 drilling defined shallow gold mineralisation over a 3.5 km strike at Golden Boulder and 4.7 km at Amy Clarke, with both areas open along strike and at depth. Reverse circulation (RC) and diamond drilling programs will continue in the June 2026 quarter to expand these discoveries and better define the resource. This accelerated program aims to rapidly advance GSN’s gold portfolio, leveraging the strengthened balance sheet to move quickly from exploration to potential resource delineation.

North Queensland and Mon Ami Targets

In addition to Western Australia, GSN will progress high-impact targets in north Queensland through its Joint Venture with Gold Fields Limited, seeking large gold and gold-copper deposits. Drilling will also resume at the Mon Ami Gold Project, located on a granted mining license (M 38/1256), following high-grade intersections including 10m at 2.7 g/t Au from 241m and 5m at 5.2 g/t Au. These programs aim to expand the Company’s resource base, enhance project value, and strengthen shareholder returns. The placement ensures sufficient funding to execute these exploration plans aggressively over the coming 12 months.

FAQs

  1. How much has Great Southern Mining raised in the Placement?

The Company has raised approximately A$4.6 million before costs through the issue of 165.6 million new shares.

  1. Are directors and management participating in the Placement?

Yes, they have committed A$0.4 million, subject to shareholder approval at a general meeting in May 2026.

  1. How will the Placement funds be used?

Proceeds will fund accelerated drilling at Duketon (Golden Boulder and Amy Clarke) and Mon Ami Gold Projects, as well as high-impact targets in north Queensland.