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Greatland Gold to "aggressively pursue" exploration options as cash pile mounts

Warrants have recently been converted, bringing in a very welcome £2.5mln
Wad of bank notes
As of last Friday, net cash stood at roughly £4mln

Shares in Greatland Gold plc (LON:GGP) headed higher on Monday morning as the explorer revealed its cash pile has grown recently.

As of last Friday, net cash stood at roughly £4mln, helped by last month’s placing of shares, which raised £750,000, and by the recent conversion of warrants into Greatland shares, which brought in about £2.5mln.

WATCH: 'We're on the cusp of an exploration wave' - Mining Capital's Alastair Ford

Management believes that these funds will facilitate a step change in the scale of the exploration campaigns at the company's key projects. 

"The encouraging results from our recent exploration work give us great confidence in our strategy of targeting under-explored areas with significant potential to host sizeable, high quality mineral deposits,” said chief executive officer, Gervaise Heddle, 

"Our strengthened cash position means we can aggressively pursue comprehensive and sustained exploration campaigns across all of our key projects over the next two years," he added.

READ: Greatland Gold confirms significant additional gold potential at Panorama

Shares in Greatland were up 4.4% at 2p in mid-morning trading.

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