GBM Resources Raises AU$40 million to Advance Drummond Basin Gold Projects

GBM Resources Limited (ASX: GBZ) announced that at the time of writing it has successfully raised AU$39.85 million through a placement to institutional and sophisticated investors, strengthening its position to accelerate exploration and development across its Drummond Basin gold portfolio in Queensland.

The placement, priced at AU$0.053 per share, received strong backing from both new and existing investors, including major shareholder Wise Walkers Limited, which subscribed for AU$8.05 million, subject to shareholder approval. Funds will support drilling at the Twin Hills and Yandan deposits, regional exploration, and business development initiatives.

The company’s Drummond Basin projects collectively host 1.84 million ounces of gold, with key deposits including Twin Hills, Yandan, and Mt Coolon. GBM said the capital raise will provide a robust platform to grow its resource base and advance toward production planning within one of Queensland’s most prospective gold belts.

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