Great Southern Copper PLC has secured £2.5 million through a placing of new ordinary shares at 2.5 pence each, representing around 16% of its existing issued share capital. It marks the company’s largest fundraise since its December 2021 listing.
The fresh capital will be used to expand exploration activity across its Chilean portfolio, with a particular focus on the Especularita Project. This includes advancing work at the high-grade copper-silver discovery at Mostaza, as well as targeting porphyry gold systems at Viuda and other highly prospective areas.
The newly issued shares are expected to be admitted to trading on the London Stock Exchange on or around 1 December 2025, at which point Great Southern Copper’s total voting rights will rise to 688,739,755.
Rationale for Fundraising and Use of Proceeds
The last 12 months has seen significant progress for the Company with its discovery of a high grade copper-silver target at Mostaza, within the Cerro Negro prospect. In addition, the team in Chile has identified a number of highly prospective targets across its concessions, including a gold porphyry target at Viuda and copper porphyry targets associated with the Colorada lithocap.
This funding, being the largest raise by the Company since its admission to listing in December 2021, is required to enable the expansion of these exploration programmes on those targets which the Board considers to be the most prospective.
Sam Garrett, Chief Executive Officer of Great Southern Copper plc, said: “This raise is a major milestone for Great Southern Copper, highlighting both new institutional and long-term shareholder support for the Company’s exploration strategy and rewarding our successes with the drill bit this year. This is a real show of confidence in the direction of the company, its project’s and the management team.
“The Company currently has three drill rigs in operation at the Cerro Negro prospect carrying out our Phase III exploration drilling programme, and we look forward to updating the market on the results here. This new funding allows Great Southern Copper to advance its exploration efforts at Especularita, focusing on our high-grade copper-silver discovery at Mostaza. In addition, the funds will be used to expand its exploration and drilling programmes at Viuda, targeting porphyry gold mineralisation as well as testing new prospects across the wider project area.
“We greatly appreciate the on-going backing of our long-term holders and welcome the support shown by our new investors.”
