Golden Cross Resources AGM highlights

Golden Cross Resources (ASX:GCR) held its 2024 Annual General Meeting, discussing crucial challenges and strategies. The company maintains its strategic plan from last year but faces financing hurdles due to economic conditions. The Copper Hill project remains a focal point amid high demand for copper and gold.

Golden Cross Resources strategic outlook

Golden Cross Resources Ltd (ASX:GCR) focuses on overcoming financing difficulties to capitalize on its Copper Hill project amidst strong demand for copper and gold. The company considers partial divestment to secure necessary funds, while also ensuring compliance with ASX rules to avoid suspension. GCR aims to raise equity capital to advance exploration, acknowledging potential shareholder dilution. Additionally, the Burra and phosphate projects hold promise, with further exploration and surveys planned. GCR remains committed to keeping shareholders informed as it navigates these strategic initiatives.

Executive commentary from AGM

The economic environment in 2023 and 2024 has made financing junior mineral exploration entities difficult as investors prefer more advanced projects and higher return securities. Gold and copper are in high demand due to global geopolitical tensions and expected copper supply shortages. GCR seeks financing to enhance the project's value and continue exploration activities. Discussions for partial divestment of interests in Copper Hill are ongoing to raise funds. GCR must demonstrate compliance with ASX Listing Rule 12.1 by December 24, 2024, or face suspension. The company prioritizes field exploration activities to meet these requirements.