GSM - Golden State Mining

[System]

Golden State Mining is a Perth-based mineral exploration company established with the purpose of exploring for gold and lithium mineralisation on a prospective package of mineral tenements in Western Australia.

The Company's current projects are located at Cue – a premier gold mining district in the Murchison region – Yule in the Pilbara and Four Mile Well near Laverton in the Eastern Goldfields. The Company secured these projects due to their prospective geological settings within proven mineralised areas, and their lack of previous systematic and dedicated modern exploration despite their significant potential.

The purpose of the IPO is to provide funds for the Company to undertake targeted exploration over the tenement portfolio along with general working capital. The Company's initial focus will be on the exploration of recognised priority gold targets identified within the Cue tenement area with prepared drill programs designed to target new discoveries of gold mineralisation. In conjunction, the Company will continue to evaluate its tenement portfolio at Yule and Four Mile Well to identify or upgrade priority targets for exploration.

It is anticipated that GSM will list on the ASX during October 2018.

https://goldenstatemining.com.au

 

[greggles]

GSM doing great in the last couple of months, up from 10c to 30c.

They raised $2.2 million in May in an oversubscribed placement. Most of the funds were earmarked for a major drilling program at the company's Yule South Gold Project in the Mallina Basin in WA.

Drilling is scheduled to commence later this month with assay results expected in August.