G50 Corp Secures $10 million to Accelerate Golconda Drilling

Highlights:

• G50 Corp (ASX: G50) secures AU$10 million via oversubscribed placement at AU$0.25 per share.
• Funds to drive drilling, metallurgical studies, and permitting at Golconda Project in Arizona.
• Strong investor demand reflects growing interest in U.S. gallium and precious metals supply.

Successful Capital Raise

G50 Corp Limited (ASX: G50) has completed an institutional placement to raise AU$10 million at an issue price of AU$0.25 per new share at the time of writing. The placement, which was well oversubscribed, attracted strong participation from both existing shareholders and new institutional investors, including significant offshore interest. The price represents a 10.4% discount to the company’s recent five-day VWAP. Following the raise, G50 will issue approximately 40 million shares, bringing its total on issue to around 200 million.

Funding to Drive Golconda Expansion

The fresh capital provides G50 with the resources to advance its Golconda Project in north-west Arizona, where the company recently announced a district-scale discovery of gold, silver, and gallium mineralisation. Upcoming work programs include core drilling to expand high-grade gold-silver-zinc intersections, RC drilling to test strike extensions, and metallurgical test work on gallium and other metals. Early-stage permitting processes, including baseline studies, will also be funded.

Strategic Importance of Gallium

Golconda’s potential as a U.S. source of gallium has attracted growing attention, particularly given the strategic importance of this critical mineral to the defense and semiconductor industries. The U.S. government has signalled support for domestic supply through initiatives linked to the CHIPS Act, creating a favourable backdrop for projects like Golconda.

Market Support and Outlook

Bell Potter Securities Limited and Morgans Corporate Limited acted as joint lead managers for the placement. G50’s Managing Director, Mark Wallace, said the strong demand highlights investor confidence in the company’s strategy and the significance of the Golconda discovery. With rigs scheduled to mobilise in the coming months, G50 is well positioned to progress exploration, advance metallurgical studies, and pursue discussions with potential partners.

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