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Gascoyne Resources has raised funds for the development of its Dalgaranga gold project in the Murchison region.

Gascoyne raises $55m for gold project

Perth-based explorer Gascoyne Resources has confirmed a $55 million capital raising to fund development of its Dalgaranga gold project in the Murchison region.

Gascoyne told the market this morning it would raise $50 million from investors through the placement of shares at a price of 50 cents each, and would raise a further $5 million by way of a share purchase plan at the same price.

The proceeds of the raising will be put towards the company’s Dalgaranga project, which has a development capex estimate of $86 million, according to a feasibility study completed in November.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/11/17

1 year TSR5 year TSR
173rdApollo Minerals72%-27%
464thVictory Mines0%-81%
595thGascoyne Resources-21%7%
782ndVolt Resources-66%-2%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

30/11/17
$40k Bought
22/03/17
$15k Bought
22/03/17
$5k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

312th↓Apollo Minerals$17k
313th↓Gascoyne Resources$17k
315th-Volt Resources$15k
316th↑Victory Mines$15k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Gascoyne Resources

339thMichael Dunbar$396k
1210thEva O'Malley$69k
1242ndMike Joyce$25k
Ranked by total remuneration from all listed WA companies

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