Green & Gold Minerals Launches $3.2m Rights Issue to Accelerate Queensland Copper and Gold Drilling

Capital Raise Targets High-Impact Copper and Gold Projects

Green & Gold Minerals (ASX:GG1) is seeking to raise approximately $3.2 million before costs through a 1-for-2 renounceable rights issue priced at 10 cents per share, representing a 29-30% discount to recent trading levels. The raise includes free attaching options exercisable at 20 cents over 2.5 years, sweetening the offer for existing shareholders ahead of an extensive drilling campaign across its Queensland portfolio.

The funds will primarily accelerate exploration at the Herberton Conductor Metals Project, where maiden drilling at Copper Hills has revealed exceptional high-grade mineralisation, including an intercept of 5 meters at 131 g/t silver, 1.05% copper, 205 g/t indium, 0.37% tin, and 9.1% zinc from 102 meters depth. This intercept notably exceeds historic drilling grades and confirms the prospect as a compelling resource target.

Expanding Resource Potential at Copper Hills and Beyond

Green & Gold plans to extend the Copper Hills discovery with follow-up drilling targeting extensions below the recent high-grade intercepts. The company also intends to drill priority copper-silver targets at Siberia, Mt Gossan, and Elizabeth Bluffs, where historic underground sampling and recent surface assays have indicated significant copper, silver, and tin mineralisation over a prospective four-kilometre structure.

At Elizabeth Bluffs, rock chip samples have returned up to 684 g/t silver, while historic drilling recorded a gold intercept of 9 meters at 3.0 g/t Au, underscoring the prospect’s multi-metal potential. These targets remain underexplored by modern standards, with planned geophysical surveys including airborne electromagnetic techniques to refine exploration models and identify deeper intrusion-related targets.

Gold Resource Growth and Development at Mt Wandoo

Alongside base metals, the rights issue proceeds will fund a roughly 3,000-meter drilling program at the Mt Wandoo gold deposit within the Chillagoe Gold Project. The program aims to increase the shallow gold resource at open-pit depths and includes metallurgical drilling to support ore sorting and concentrate recovery test work.

Previous drilling at Mt Wandoo has intersected high-grade gold-silver zones, such as 9 meters at 7.9 g/t gold and 51 g/t silver, and 19 meters at 2.9 g/t gold. The company believes a high-grade ore sorter concentrate could be economically transported for toll treatment, providing flexibility in processing options. Results from drilling and metallurgical testing will underpin preliminary mining studies and commercial discussions with mining contractors and processing plants.

Rights Issue Mechanics and Shareholder Participation

The rights issue entitles eligible shareholders to subscribe for one new share for every two shares held as of the record date, with one free attaching option for every two new shares subscribed. The offer is renounceable, allowing shareholders to trade their rights on the ASX from 9 September until 23 September 2026. The offer closes on 30 September 2026, with new shares and options expected to commence trading on 8 October.

All directors have committed to participate, signaling confidence in the company’s growth strategy. The capital raise is not underwritten, and any shortfall will be placed by the lead manager, Mahe Capital Pty Ltd, who will also receive options as part of their fee arrangement.

Shareholder Impact and Risk Considerations

If fully subscribed, the rights issue will increase the total shares on issue by roughly 33%, diluting non-participating shareholders accordingly. Assuming all new options are exercised, dilution could reach approximately 46%. The company has implemented safeguards to prevent any shareholder from exceeding 19.99% voting power post-raise.

Investors should note that exploration and development activities remain inherently risky, with no guarantee of resource definition or economic extraction. The company’s forward-looking statements emphasize these uncertainties, including commodity price volatility and operational risks.

Green & Gold Minerals’ recent drilling success and strategic capital raise position it to capitalise on growing demand for copper and gold, especially metals linked to electrification and data centre infrastructure. The next six months promise multiple catalysts as drilling results from Herberton and Chillagoe begin to flow.