REG - Great Southrn.Copper - GSC Secures £0.8m to Expand Exploration in Chile

Great Southern CopperAnnouncement

07/11/2024 07:00

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RNS Number : 2713L  Great Southern Copper PLC  07 November 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

7 November 2024

 

Great Southern Copper plc

("GSC" or the "Company")

 

GSC Secures £0.8m Funding to Expand Exploration Work in Chile

 

Great Southern Copper plc (LSE: GSCU), the Company focused on copper-gold
exploration in Chile, is pleased to announce that it has received an
investment of £780,000, before expenses, from two new private investors and
the existing majority shareholder.

 

The proceeds provide GSC with additional funding to expand its ongoing
exploration programme in Chile, supporting drilling programmes across multiple
high-potential targets within the Company's large-scale copper-gold
Especularita project.

 

The investment has been raised through the placing of 62,400,000 new ordinary
shares of 1p each in the Company at a price of 1.25p, which represents a 5%
discount to the 30 day VWAP and a 9% discount to the 10 day VWAP.  Each share
will have one warrant, exercisable at £0.025 for a period of 24 months from
the date of admission to trading of the Placing shares.

 

The investment comes from a highly experienced investor and a corporate
institution, matched by GSC's cornerstone founding investor, Foreign
Dimensions PTY Limited.

 

Sam Garrett, Chief Executive Officer of Great Southern Copper plc, said: "We
are very pleased to have been approached by new investors who have chosen to
provide additional support to the Company at this crucial stage of
exploration, alongside our extremely supportive majority shareholder.

 

"Whilst the equity markets continue to be starved of capital for early stage
exploration, this investment reflects the increasing confidence and excitement
around the Company's prospects. The funds will be deployed to advance our
drilling programmes and other exploration activities over the next 6-12
months, and we look forward to updating the market on our progress."

 

Admission and Total Voting Rights

Application will be made for the 62,400,000 Placing and Subscription Shares,
which will rank pari passu in all respects with the existing ordinary shares
in the Company, to be admitted to listing on the standard listing segment of
the Official List of the FCA and to trading on the London Stock Exchange plc's
("London Stock Exchange") main market for listed securities ("Main Market"),
which is expected to occur at 8.00 a.m. on or around 11 November 2024.

 

Following Admission of the Placing and Subscription Shares, the total number
of ordinary shares and voting rights in the Company will be 510,005,878 The
above figure may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.

 

Enquiries:

 

 Great Southern Copper plc
 Sam Garrett, Chief Executive Officer      +44 (0) 20 4582 3500

 SI Capital Limited
 Nick Emerson                              +44 (0) 1483 413500

 Capital Plus Partners
 Keith Swann                               +44 (0) 203 8216167

 Gracechurch Group
 Harry Chathli, Alexis Gore, Henry Gamble  +44 (0) 20 4582 3500

 

Notes for Editors:

 

About Great Southern Copper

 

Great Southern Copper PLC is a UK-listed mineral exploration Company focused
on the discovery of copper-gold and lithium deposits in Chile. The Company has
the option to acquire rights to 100% of two projects in the under-explored
coastal belt of Chile that are prospective for large scale copper-gold
deposits. In addition, the Company has the option to acquire rights to 100% of
a lithium project located in the Salar de Atacama district of Chile. Chile is
a globally significant mining jurisdiction being the world's largest copper
producer and the second-largest producer of lithium.

 

The two, early-stage Cu-Au projects comprise the Especularita Projects and San
Lorenzo, both located in the coastal metallogenic belt of Chile which hosts
significant copper mines and deposits, including Teck's Carmen de Andacollo
copper mine, and boasts excellent access to infrastructure such as roads,
power and ports. Significant historical small-scale and artisanal workings for
both copper and gold are readily evident in both exploration project areas.

 

The Company's Monti Lithium project is strategically located in the pre-Andean
region of Salar de Atacama which is Chile's premier lithium-producing region
with well-established lithium mining operations and infrastructure.

 

Great Southern Copper is strategically positioned to support the global market
for copper and lithium - both critical battery metals in the clean energy
transition around the world. The Company is actively engaged in exploration
and evaluation work programmes targeting both large tonnage, low to medium
grade Cu-Au and Li deposits as well as high-grade Cu-Au deposits.

 

Further information on the Company is available on the Company's website:
https://gscplc.com (https://gscplc.com)

 

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