Great Western Mining Raises £1.25M for Exploration Programme
Why we think this is neutral
This RNS announcement provides an update on Great Western Mining's exploration plans and portfolio management, including details of a £1.25 million placing. While the company is taking steps to advance its projects, the announcement does not contain any of the mandatory news types that would warrant a more positive or negative sentiment score.
Key Points
- Placing of 125 million new ordinary shares at 1p to raise £1.25 million
- Drilling planned at West Huntoon copper porphyry prospect and Rhyolite Dome gold prospect
- Ongoing work at Defender & Pine Crow tungsten prospects
- Seeking larger mining companies for participation in Eastside Mine/Tango copper porphyry prospect
- Claims portfolio management, including adding and relinquishing acreage
Summary
The mining company has raised £1.25 million through a placing to fund exploration activities, including drilling at its copper and gold prospects in Nevada.
Great Western Mining Corporation PLC has successfully completed a placing to raise £1.25 million before expenses. The funds will be used to advance the company's exploration plans, including drilling at the West Huntoon copper porphyry prospect and the Rhyolite Dome gold prospect. The company also plans to focus on its tungsten prospects and continue managing its claims portfolio in Nevada.
GENERAL UPDATE