Great Southern Copper PLC (LSE:GSCU) earlier this week announced the successful raising of £780,000, attracting new investors alongside the company’s cornerstone shareholder.
CEO Sam Garrett described this investment as a crucial show of confidence in the company’s potential, especially notable during a difficult period for securing mining finance.
He stated that “there are people out there who are looking for good opportunities and opportunities that show the potential for growth.”
The company plans to deploy these funds to support its drilling pipeline at the Especularita project in Chile, where it has identified seven targets, including the Mostaza and Viuda prospects.
Here’s the Q&A transcript of the interview.
Proactive: Sam, very good to speak with you. You’ve brought a couple of new investors on board, raising £780,000 from them, as well as your existing major shareholder. So, another vote of confidence on your prospects in Chile?
Sam Garrett: That’s right, Stephen. Yes, this is exciting news today. It is nice to bring in new shareholders, and those new shareholders came to us.
Their funding has been matched by our cornerstone investor.
So, it’s a significant endorsement of our team and the projects in Chile.
Proactive: And particularly at a time when it’s quite difficult to raise mining finance.
Sam Garrett: Yeah, it has been very difficult for quite a long time now. So, again, that emphasises that there are people out there who are looking for good opportunities and opportunities that show the potential for growth.
We plan to achieve that through discovery. It’s a very good story for us, and it’s nice to have these two new shareholders on board.
Proactive: Sam, can you tell us how you’re going to deploy this additional funding?
Sam Garrett: Well, we’ve got a team in Chile working very hard. We’ve been talking about our drilling pipeline at the Especularita project in particular.
We have seven drill targets ready to go, and we’re specifically working on the Mostaza and Viuda prospects.
This new funding provides an excellent runway for us to potentially increase our drilling capacity and add new programs, such as magnetic or geophysics surveys, if necessary.
Proactive: Sam, so what’s next? What should investors be watching out for?
Sam Garrett: We’re getting ready to drill. We’ve been saying that for a while now, but the plan is to be drilling within the fourth quarter of the year.
We’re close, waiting on confirmation from local communities, environmental groups, and, the local mines department.
We have our drilling company lined up and our rig organized, so hopefully, it won’t be too long now.
Proactive: I hope you’ll keep us posted on any progress. Thank you very much for the update.