Great Western Exploration Limited (ASX: $GTE) Capital Raising and Drilling Announcement

Great Western Exploration Limited (ASX: $GTE) has secured binding commitments from professional and sophisticated investors to raise $3.5 million. The capital raising will fully fund the company's high-impact exploration programs, including the drilling of the giant Oval and the Oval South Winu Style intrusive related copper-gold targets within the Yerrida North Copper-Gold Project, with drilling set to commence in September 2024.

Executive Commentary on Capital Raising and Drilling Plans

Great Western's Managing Director, Mr Shane Pike, expressed his enthusiasm, stating 'We will soon have the drill rig turning on the giant Oval target at our 100% Yerrida North Project, where the Company will endeavor to make a very significant discovery. We thank our shareholders for their support of our forthcoming exploration programs, and also welcome new shareholders to the Company'.

Summary of Great Western Exploration's Capital Raising and Drilling Announcement

Great Western Exploration Limited (ASX: $GTE) has successfully raised $3.5 million through binding commitments from professional and sophisticated investors. The raised capital will fully fund the company's high-impact exploration programs, which will include the drilling of the giant Oval and the Oval South Winu Style intrusive related copper-gold targets within the Yerrida North Copper-Gold Project, with drilling set to commence in September 2024. The company's Managing Director, Mr Shane Pike, expressed confidence in the upcoming exploration, aiming for a significant discovery. The placement comprises approximately 134.6 million new fully paid ordinary shares in the company, with additional unlisted options to be issued subject to shareholder approval. Great Western directors have also committed to subscribe for a portion of the placement. Euroz Hartleys Limited and Peloton Capital acted as Joint Lead Managers in respect of the Placement.