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GBM RESOURCES LIMITED. — Capital/Financing Update 2016
Dec 6, 2016
64966_rns_2016-12-06_a8099f06-0e3b-4ceb-851b-9a017fe4abdd.pdf
Capital/Financing Update
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ABN 91 124 752 745
ASX Announcement
ASX Code: GBZ
7 December 2016
COMPANY DIRECTORS
AUD$ 10 Million Loan Agreement Update
The Board of GBM Resources Limited (‘GBM’ or ‘the Company’) is pleased to advise that AUD$1.5 million has been received pursuant to Tranche 1 of the loan agreement announced to ASX on 18 October 2016, with the balance of Tranche 1, being AUD$3.5 million, now scheduled to be received by the end of December 2016.
Funds received pursuant to the loan agreement will be used to accelerate the redevelopment of the Mt Coolon Gold Project in Queensland.
Settlement of Tranche 2 of AUD$5 million remains unchanged and is to be completed by 28 February 2017.
The key objective of the Company is to become a gold producer in the near-term and securing this funding level supports the redevelopment of the Company’s 100% owned flagship Mount Coolon Gold Project.
Peter Thompson Managing Director/ Executive Chairman
Neil Norris Exploration Director – Executive
Hun Seng Tan Non-Executive Director
CONTACT DETAILS
Principal & Registered Office Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153
Exploration Office 10 Parker Street, Castlemaine, Victoria 3450
Website www.gbmr.com.au
Email [email protected]
Phone +61 (8) 9316 9100
Fax +61 (8) 9315 5475
Phone (Exploration Office) +61 (3) 5470 5033
For further information please visit www.gbmr.com.au or contact:
Investors: Peter Thompson Managing Director GBM Resources Tel: +61 8 9316 9100
Media: Karen Oswald Marko Communications Tel: + 0423 602 353 [email protected]
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