Golden Rim Resources (ASX: GMR) Completes Placement to Progress Work at Balogo – SLM acts as Financial Advisor
We are pleased to advise that Golden Rim Resources Ltd (ASX:GMR) successfully completed a placement of 85 million ordinary shares at an issue price of 2.2 cents per share to raise $1.87 million before costs.
The funds raised will enable Golden Rim to undertake further work at the Balago Project where Golden Rim has outlined a high grade Inferred Resource at the Netiana Lodes of 850,000 tonnes at 6.8 g/t gold for 185,000 ounces of gold. Golden Rim has also completed a scoping study on the Netiana Lodes which indicates that the resource can support a robust, high margin, low capital cost, open pit mine development.
SLM Corporate is acting as financial advisor to the Company in assessing funding options for its Definitive Feasibility Study and mine development.
For further information, please contact Barry Lewin (Managing Director, SLM Corporate) +61 3 9244 9644