Great Boulder Resources Ltd (ASX:GBR) managing director Andrew Paterson and non-executive chairman Greg Hall have demonstrated their confidence in the company’s gold strategy through participating in a rights issue.
On March 22 the company announced the completion of a non-renounceable entitlement offer of two shares for every nine shares held by eligible shareholders at an issue price of 3.5 cents per share to raise a further $1.45 million.
This was in addition to the $1.65 million placement.
The placement and entitlement offer position the company with a strong cash balance of up to around $4.3 million to execute high-impact drill campaigns at the Side Well and Whiteheads gold projects in Western Australia.
Change of director's interest
Paterson acquired 51,686 shares in a direct interest, increasing the total number of securities held in the interest to 284,275 shares.
Hall purchased 362,963 shares valued at more than $12,700 in an indirect interest and now holds more than 1.996 million shares in that interest.