Great Boulder Resources (ASX:GBR) secures $12.5M to accelerate Side Well gold growth and advance Ironbark development

Following the announcement of a $12.5 million placement to accelerate exploration at the Side Well Gold Project, Great Boulder Resources (ASX:GBR) is now well positioned to enter a period of aggressive growth and consistent news flow.

The raise was supported by institutional and sophisticated investors, including new North American funds, providing the company with approximately $15 million in cash to fast track drilling, technical studies and project approvals.

In this Q&A, Managing Director Andrew Paterson addresses the strategic significance of the raise, how funds will be allocated, the company’s near term priorities, and what investors can expect as Great Boulder works towards its target of one million ounces of gold at Side Well.

What is the strategic importance of this $12.5 million placement?

This placement is a major turning point for Great Boulder, it gives us the financial strength to really accelerate our exploration and resource growth strategy.

With around $15 million in total cash after the raise, we now have the capacity to fund aggressive drilling programs, complete technical studies and pursue early stage development work at Ironbark.

What is especially important here is that the raise was strongly supported by institutional investors, including new North American long only funds.

This type of support not only brings capital but also validation, and it shows that experienced resource investors see real upside in what we are doing at Side Well.

This capital enables us to progress both exploration and development in parallel.

That puts us in a unique position to rapidly increase our gold resource while also working on potential pathways to production.

“This is a transformational funding event for Great Boulder, as it will allow us to rapidly accelerate progress at our flagship Side Well Gold Project and push it aggressively towards the dual goals of defining one million ounces of gold at the Project and an early mining opportunity at Ironbark.”

How will the funds be allocated across the Side Well project?

The majority of the funds raised will go directly into exploration at Side Well.

This includes resource definition drilling to expand the known mineral resource, as well as discovery focused drilling across new and underexplored targets like Side Well South.

To achieve that we’ll be mobilising an extra rig in the second half of the year, which will likely see an RC rig operating full time and the second rig being either an AC or a diamond rig drilling campaigns as required.
We will also be investing in geophysical and geochemical surveys to generate new drill targets, which helps ensure we keep building a pipeline of exploration opportunities.

Importantly, some of the funds are earmarked for studies and permitting work at Ironbark.

Ironbark has strong potential as a near term development project, and this raise allows us to advance the approvals process while completing the scoping study, which is due in early July.

The balance of the funds will go toward general working capital, which supports ongoing operations across the board.

“Funds from the Placement will be used for resource definition and discovery drilling, geochemical and geophysical surveys generating new exploration targets, studies pursuant to mining approvals for the Ironbark deposit and general working capital.”

Why is the Ironbark deposit a priority for development?

Ironbark is shaping up as a key part of our strategy because it ticks several important boxes.

It already has a defined resource, it sits within our broader Side Well Project, and it has returned very strong drilling results that point to high grade gold potential close to surface.

In recent extensional drilling south of the known resource, we intersected 8 metres at 9.07 grams per tonne and 8 metres at 8.57 grams per tonne.

These are exciting numbers that suggest the system continues and remains open, and with a scoping study due for release in early July, we are aiming to assess Ironbark’s potential for early stage development while we continue to grow the broader project.

It gives us the opportunity to progress a standalone operation or integrate it into a future larger mining scenario at Side Well.

“The next milestone for the project is delivery of the Ironbark scoping study, which is due to be completed in early July. We are also planning follow up drilling programs at Ironbark where recent extensional drilling intersected 8m at 9.07g/t Au and 8m at 8.57g/t Au south of the resource, followed by our other advanced targets in order to bring them all into a global resource update as soon as possible.”

What does the involvement of North American institutions mean for GBR?

Having North American long only funds come onto the register is a big milestone for us.

These are investors who typically take a longer term view and are focused on backing companies with high quality assets and a clear strategy for growth.

Their support tells us that Side Well is being recognised on the global stage as a serious gold project with significant upside.

This is the first time we have had institutional backing from North America, and it helps diversify our shareholder base with experienced capital that understands the exploration and development process.

It also opens up opportunities for future engagement and growth beyond Australia, which is a strong signal for the market and for other potential investors watching our progress.

“I’m also extremely pleased to have North American institutional investment on the register for the first time. The Placement is a big vote of confidence in the quality of the Side Well Project and the inherent value proposition GBR represents.”

What can investors expect in terms of news flow over the coming months?

We are entering a very active period, and shareholders can expect consistent news flow over the coming months.

First up is the release of the Ironbark scoping study in early July, which will provide clarity on development potential and help inform our strategy going forward.

Alongside that, we are preparing to resume drilling at Ironbark and Side Well South.

These programs are designed to extend known mineralisation and test new areas, and they will generate regular updates as results come in.

As we work through the approvals process and continue exploration, the broader goal remains delivering a global resource update as soon as possible.

That update will reflect the full scale of the project and bring us closer to our longer-term target of defining one million ounces of gold.

It is going to be a busy second half of 2025 with a lot of activity across exploration, studies and approvals, all aimed at unlocking value for shareholders.

Looking Ahead: Building Momentum into 2026

With the Ironbark scoping study due in early July and drilling about to ramp up across multiple targets, Great Boulder Resources is entering a high activity phase.

The placement provides the financial flexibility to pursue resource growth and early development options in parallel, backed by a strong technical team and growing institutional support.

Investors can expect regular updates as the company advances toward its next major milestone, a global resource update for the Side Well Gold Project.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.