Great Divide Mining Raises AU$1.34 million to Advance Challenger Gold Mine JV

Great Divide Mining Limited (ASX: GDM) has secured AU$1.335 million through the issue of unsecured and unquoted converting loan notes, strongly supported by both new and existing sophisticated investors. Directors will participate with AU$105,000, subject to shareholder approval at the upcoming AGM. The notes, issued at a face value of AU$1.00, can convert into fully paid ordinary shares and one-for-one unlisted options, with conversion set at the higher of AU$0.25/share or a 20% discount to the 15-day VWAP. Proceeds will fund milestone payments for the Challenger Gold Mine joint venture, alongside working capital and transaction costs. The settlement of notes is expected on 8 September 2025, with options exercisable at AU$0.50 and a three-year expiry. CEO Justin Haines highlighted investor confidence in GDM’s transition from explorer to gold producer, underpinned by the company’s staged development approach.

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