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GOLD MOUNTAIN LIMITED (GMN)

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ASX, Legal & CGT Status

Former (or subsequent) names

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Our website ranking of GMN: rating 2
(2 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Boardroom Pty Ltd
Level 8, 210 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000GMN8
Address: C/- Erasmus Consulting Pty Ltd 24/589 Stirling Highway Cottesloe WA 6011
Tel:  +61 (08) 9486 4036Fax: +61 2 9247 4844

Date first listed: 02/09/2011
Company Secretary: Rhys Davies
Sector: Materials Industry Group: XMJ
Activities: Mineral exploration for gold in New South Wales

News & Events

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The suspension of trading in the securities of Gold Mountain Limited will be lifted immediately following the release by GMN of an announcement regarding reconnaissance rock chip sampling results from GMN's lithium projects in Brazil.

06/01/2023

Gold Mountain has committed to the earn in stage of the JV whereby GMN can earn an additional 55% interest in the projects through an expenditure commitment of $2.75m over a two-year period. Additional rock chip results from the October 2022 reconnaissance due diligence program further confirms the prospectivity of the Juremal, Custodia and Porta D'Agua projects to host LCT bearing pegmatites. Assay results have been received and interpreted for twenty-eight (28) rock chip samples from the Juremal, Custodia, Cerro Cora and Porta D'Agua project areas. Ten rock chip samples assayed over 100 ppm Li2O, which due to leaching and weathering of outcropping rocks is considered anomalous and warrants follow up sampling. Results are encouraging and indicate that LCT pegmatites are present in the Juremal, Custodia and Porta D'Agua project areas. The results also show that trace elements related to LCT pegmatites vary in abundance between project areas and within project areas. This is partially a function of pegmatite field zoning and the differences between pegmatite fields. In light of these results Gold Mountain and Mars believe that LCT pegmatite bodies can be readily defined on these tenements and that with a concentrated mapping and sampling program, drill targets can be rapidly identified.

06/01/2023

The securities of Gold Mountain Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GMN, pending the release of an announcement regarding reconnaissance rock chip sampling results from GMN's lithium projects in Brazil.

05/01/2023

The suspension of trading in the securities of Gold Mountain Limited will be lifted immediately, following the release by GMN of an announcement regarding a capital raising.

14/07/2021

The company releases a prospectus for a renounceable pro rata offer to Eligible Shareholders of approximately 256 million New Shares at an issue price of $0.02 per New Share on the basis of one New Share for every 3 Existing Shares held, together with one attaching New Option for every 3 two New Shares issued, to raise up to approximately $5.12 million before issue costs.

14/07/2021

1 for 3 Renounceable Rights Issue to raise up to $5.1 million. Attractively priced at 2 cents per share,adiscount of 37% to the last price of 3.2 cents and 49% to the 90-day VWAP of 3.9 cents. With every 3 New Shares, shareholders receive 1 free attaching New Option, with an Exercise Price of 4 cents, term of 18 months. Shareholders can trade their rights and apply for additional shares and options. Rights to start trading from 16 July 2021. Partially underwritten by Mahe Capital for $2.05 million, inclusive of Directors' commitments of $643,003. Funds to be used to fund exploration of its Wabag project, repay debt, working capital and to meet the costs of the offer. "¢ On completion, the Company to be debt free, with around $1 million of loans and creditors being repaid through subscribing under the Offer.

14/07/2021

On 13 July 2021 the Honourable Justice Jackson made orders validating the sale of Tainted Shares issued before July 2014. The company releases a prospectus that contains an offer that satisfies section 708A(11) of the Corporations Act, and as a result there are no restrictions on offering Tainted Shares for sale.

14/07/2021

Whilst undertaking due diligence for a proposed capital raising, the Company became aware that certain Shares issued without disclosure since 2013 had not been "cleansed" through the giving of a cleansing notice. On 2 July 2021 the Honourable Justice Jackson of the Federal Court made orders validating the sales of Tainted Shares issued after July 2014. The proceedings have been listed for hearing on 19 July 2021 for an application to validate Tainted Shares issued prior to July 2014.

05/07/2021

The company releases a notification of cessation of securities - GMN.

05/07/2021

The Company advises that the securities shall remain in voluntary suspension until an announcement is made, which is expected on Monday 5 July 2021.

01/07/2021

The Company shall remain in voluntary suspension of its securities and reinstatement of trading in the securities shall be pending: a court order application made for "uncleansed shares" in relation to s.708A(5) of the Corporations Act; and the completion of the proposed capital raising. The Company expects that the voluntary suspension shall end on Thursday 1 July 2021.

28/06/2021

The company issues a response to Appendix 3Z Query.

24/06/2021

The extension of voluntary suspension is requested to allow the Board the required time to undertake an accelerated capital raising that involves a pro rata issue of securities to all shareholders. The voluntary trading suspension shall remain in place until the release of an announcement with detailed disclosure of the pro rata issue, expected at commencement of normal trading on Monday 28 June 2021.

23/06/2021

The securities of Gold Mountain Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GMN, pending the release of an announcement regarding a capital raising.

21/06/2021

The suspension of trading in the securities of Gold Mountain Limited will be lifted immediately, following the release by GMN of an announcement regarding the appointment of a director in order to comply with section 201A(2) of the Corporations Act 2001 (Cth).

03/09/2019

21,733,333 new fully paid ordinary shares in the company along with 19,733,338 options are issued for the placement of shares at a price of $0.06 per share. The sum of $1,314,000 raised represents part of the proposed share placement. The funds raised are to be used for the purposes of meeting general working capital requirements and supporting its next stage planned exploration programs of the Wabag Project located in Papua New Guinea.

30/08/2019

The securities of Gold Mountain Limited will be suspended from quotation immediately, at the request of GMN under Listing Rule 17.2, pending GMN's appointment of sufficient directors to comply with section 201A(2) of the Corporations Act 2001 (Cth)

28/08/2019

name changed from Commissioners Gold Limited

22/12/2014

 

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Loading comments....  Most recent comments

Sorry WIison from Tsikiro Catholic Mission, Ambum Valley, Kompiam Ambum, Enga Province Papua New Guinea...

nn

14/03/2017 19:00:03

When will the exploration start at Walimand (Wali Stone) im from Tsikiro Catholic Mission and Im still waiting for the Exploration to begin in my Land (forest and stone)..thanks wilson

14/03/2017 18:58:05

Company Updates

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    13/01/2023Steven Larkins550,000$0.006$3,097
    05/04/2022Steven Larkins433,334$0.003$1,316
    30/03/2022Steven Larkins2,000,000$0.008$16,017
    28/03/2022Steven Larkins700,001$0.005$3,332
    09/01/2019Tony Teng100,000$0.075$7,537

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Rhys DaviesCFO30/06/2023
    Syed AlsagoffNon Exec Director02/09/2019
    Aharon ZaetzNon Exec Director16/03/2023
    David EvansExecutive Director16/03/2023

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Tim CameronCEO25/10/201901/05/2023
    Paul LimNon Exec Director14/10/201921/04/2023
    Steven LarkinsNon Exec Director12/07/202114/03/2023
    Tony TengExecutive Director09/07/201417/05/2021
    David ClarkCFO09/07/201430/06/2020
    Graham KavanaghNon Exec Director05/06/201414/10/2019
    Douglas SmithDirector29/12/201626/08/2019
    Matthew MorganDirector30/12/2016
    Bill Richie YangNon Exec Director02/06/201418/07/2014
    Eric KamNon Exec Director05/06/201418/07/2014
    Robert WaringNon Exec Director29/11/201011/07/2014
    Christopher BattyeExecutive Chairman19/08/200505/06/2014
    Wesley HarderNon Exec Director18/02/201005/06/2014
    Jason NeedhamCOO01/03/201231/12/2013
    Robert McCauleyManaging Director10/02/201112/12/2011

    Date of first appointment, title may have changed.