Business
Gold Mountain Limited - ISSUE OF ENTITLEMENT OFFER SHORTFALL SHARES
Gold Mountain Limited - ISSUE OF ENTITLEMENT OFFER SHORTFALL
About this update from Gold Mountain Limited
[{"type":"text","content":"Gold Mountain Limited (ASX: GMN) refers to its announcements on 29 May 2025 and 11 June 2025 regarding the issue of underwritten shortfall shares from its rights issue announced on 3 April 2025.\nASIC has made a declaration that in effect allows GMN to keep offers under the prospectus lodged with ASIC on 3 April 2025 (and announced to ASX that day) open. This will allow Magnus Capital (SA), who will have a voting power of 21.53% in GMN once all shortfall shares are issued, to rely upon item 13 of section 611 of the Corporations Act to take up its shortfall. Shareholder approval is being sought for this at a shareholder meeting to be held on 14 July 2025\nContact:David Evans\nExecutive Director\nTel: +61 421 903 222\nEmail: [email protected]\nAbout Us\nGold Mountain (ASX:GMN) is a mineral exploration company focused on rare earth elements (REE) with projects in Brazil and Papua New Guinea (PNG). While its assets are primarily centred around REE and niobium, the company is also exploring a diverse range of tenements for lithium, nickel, copper, and gold. Gold Mountain has expanded its portfolio in Brazil, holding large areas of highly prospective REE and REE-niobium licenses in Bahia and in Minas Gerais. Additional tenement areas include lithium projects in the eastern Brazilian lithium belt, particularly in Salinas, Minas Gerais, and parts of the Borborema Province and Sao Francisco Craton in northeastern Brazil, as well as copper and copper-nickel projects in the northeast of Brazil. In PNG, Gold Mountain is advancing the Green River Project, covering 1,048 km-2 across two exploration licenses. This project has shown promise with high-grade Cu-Au and Pb-Zn float samples, and previous exploration identified porphyry-style mineralization. Intrusive float, believed to be similar to the hosts of many Cu and Au deposits in mainland PNG, has also been discovered.(C) 2025 Electronic News Publishing, source ENP Newswire","length":2787,"tagName":"div"}]