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GBM GOLD LTD (GBM)

Delisted from ASX 13/10/2020

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(updated at weekends)

Former (or subsequent) names

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Our website ranking of GBM: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000GBM3
Address: 66 Ham Street Kangaroo Flat VIC 3555
Tel:  +61 3 5445 2300 Fax: (03) 5444 0036

Date first listed: 05/03/2007
Company Secretary: Andrew Chan
Sector: Materials
Industry Group: XMJ
Activities: Gold production and exploration
OFX Transferring Money Internationally to Free

delisted from the commencement of trading on Tuesday, 13 October 2020, pursuant to Listing rule 17.12.

13/10/2020

we understand this company failed and ASX removed the company from listing because its securities have been suspended from trading for a period of two years

13/10/2020

The company releases a letter to its shareholders regarding its removal from official list. The Board of Directors had been in discussion with V-infinity with a view to commence the drawdown of its financing facility. The directors have also been in negotiation to finalise a $10 million investment into the company. The company has earlier secured the $10 million investment through a binding term sheet with proof of fund $6.7m of the investment would be used to underwrite a 1:1 rights issue to be undertaken by the company while the balance would be in the form of a convertible loan to the company. The company was not able to secure from ASX an extension of its listing status beyond the second anniversary of the suspension of trading of its shares to complete the capital raising.

12/10/2020

The company lodges its Annual Report to shareholders.

04/09/2020

The company lodges its Quarterly Cashflow Report.

01/09/2020

The following entity has not paid their annual listing fees in respect of the year ending 30 June 2021 but their securities are already suspended from official quotation.

24/08/2020

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

The rights issue has been withdrawn as the deadline to reinstate trading by 14 November 2019 could not be met. The underwriting funds of A$4,665,260.00 from the Underwriter Metropolis Enterprises Group Limited did not arrive before the deadline of 12:00 noon on 13 November 2019 in time for the issuance of shares and for the shares to reinstate trading within the 3 month period for quotation. The board is considering other means besides a rights issue to enable shareholders and investors who had indicated their intention to invest in the company to realize their investment objectives.

15/11/2019

The company issues a supplementary prospectus which shall be read with the 14 August 2019 prospectus.

15/11/2019

The company issues a response to ASX Query.

11/11/2019

ASX has determined that the variations to the Harvest Home joint venture appear, as shareholder approval was not obtained, to be in breach of Listing Rule 10.1. ASX has required GBM to take corrective action in accordance with Listing Rule 10.9. GBM has elected to comply with Listing Rule 10.9.1 and cancel the variations to the Harvest Home joint venture agreement. GBM and Truelight have entered into a deed of cancellation. The parties have appointed RSM Australia to complete the determination. This process is expected to be completed by 12 November 2019 and so that GBM's shares are reinstated for trading on 14 November 2019.

11/11/2019

The company lodges its Quarterly Activities Report.

01/11/2019

The rights issue has closed with total applications received as follows: Applications for entitlement shares 18,163,211 - $108,979.27; Applications for shortfall shares (including from the Directors) 322,613,012 - $1,935,678.07; Shortfall to be subscribed for by Metropolis Enterprises Group Limited or nominees 777,543,333 - $4,665,260.00. The company has notified Metropolis Enterprises Group Limited of the shortfall amount and are working with ASX to ensure that the company's securities can be reinstated to trading as soon as possible.

12/09/2019

GBM Gold announces that it has completed the mail-out of the prospectus and personalised entitlement and acceptance form for the rights issue. Person/s should consider the prospectus in deciding whether to acquire the securities under the rights issue.

28/08/2019

The company issues a supplementary prospectus which must be read in conjunction with the 14 August 2019 prospectus.

27/08/2019

The company has not paid their annual listing fees in respect of the year ending 30 June 2020 but the securities are already suspended from official quotation.

22/08/2019

The Victorian Government's Earth Resources Department has refused to renew the Bendigo Mining Licences MIN5344, MIN5364 and MIN4878 forcing GBM Gold to stop work on its gold mining operations. Earth Resources took this action while GBM Gold was completing a $6.7 million fully underwritten rights issue. The Underwriter Metropolis Enterprises Group Limited has reaffirmed its underwriting commitment to the Rights Issue with all terms and conditions intact. Metropolis has also confirmed that they will arrange funding to further inject future capital into GBM to support the company's future development. GBM Gold is considering its options to appeal against the decision.

21/08/2019

The company issues a prospectus for a non-renounceable pro rata offer to eligible shareholders of approximately 1,120 million new shares at an issue price of $0.006 per new share on the basis of 1 new share for every existing share held to raise up to approximately $6.7 million before issue costs. Shareholders can, in addition to their entitlement, apply for shortfall shares.

14/08/2019

GBM launches new fully underwritten one for one $6.7 million rights issue. Issue price $0.006 per new share. Updated timetable with offer intended to close on 2 September 2019.

14/08/2019

The company releases separate letters to eligible and ineligible shareholders regarding the non-renounceable rights issue.

14/08/2019

The company issues a supplementary prospectus regarding the withdrawal of the offer.

12/08/2019

GBM has withdrawn the May rights issue. GBM will lodge a new rights issue prospectus. Metropolis Enterprises Group Limited confirms that they will fully underwrite the new rights issue. Investors who applied for shares in the May rights issue can choose to participate in the new rights issue.

07/08/2019

The company lodges its Quarterly Report.

01/08/2019

Update on renewal of GBM Gold licences MIN5344, MIN5364 and MIN4878. Rights issue now fully underwritten by Metropolis Enterprises Group Limited. Rights Issue to be extended and withdrawal rights offered.

30/07/2019

The company has received the following applications under its fully underwritten 1 for 1 non-renounceable rights issue to eligible shareholders: Applications for Entitlement - 53,846,437 (shares) - $323,078.62; Applications for Shortfall Shares (including Mr Eric JP Ng's underwriting commitment) - 128,049,358 (shares) - $768,296.15; Total - 181,895,795 (shares) - $1,091,374.77. The company expects to receive the underwriting commitment from the remaining underwriting directors shortly and has given notice to Nex Kiwi Group. Nex Kiwi is required to pay the shortfall amount to the company by no later than 12 June 2019.

07/06/2019

Rights issue prospectus sent to eligible shareholders. Ineligible shareholders interested in subscribing for shortfall shares are invited to contact Sanston Securities.

24/05/2019

60MW Solar Project planned to be developed at Woodvale 10km north of Bendigo. The project will produce emissions-free, renewable energy to meet the electricity needs of thousands of Bendigo homes. Unique characteristics of the Woodvale Evaporation Pond Complex make it a compelling candidate for a Solar Power Project. Project repurposes redundant evaporation ponds. Large-scale project improving Bendigo's resiliency to electricity grid problems.Opportunity to alleviate local transmission and distribution network constraints. Project in alignment with state and local renewable policy objectives.

23/05/2019

The company releases an Investor Presentation.

23/05/2019

The company releases separate letters of notification to eligible and ineligible shareholders regarding the non-renounceable rights issue.

15/05/2019

The comnpany issues a prospectus for a non-renounceable pro rata offer to Eligible Shareholders of approximately 1,120 million New Shares at an issue price of $0.006 per New Share on the basis of 1 New Share for every Existing Share held to raise up to approximately $6.7 million before issue costs. Shareholders can, in addition to their Entitlement, apply for Shortfall Shares.

15/05/2019

The company lodges its Half Yearly Report and Accounts.

15/05/2019

The company provides a business update, the highlights of which are as follows: One for one non-renounceable rights issue at an issue price of $0.006 to raise approximately $6.67 million; Funds raised will repay Unity debt in full and provide working capital; Unity Mining debt deferred pending completion of the rights issue; Recapitalisation will allow reinstatement of GBM's shares to trading.

10/05/2019

The company lodges its Quarterly Activities and Cashflow Report.

23/04/2019

The company received $1 million in gold loan. An additional $200,000 was received from Silverbright International on 11 January 2019. The funds will be used for working capital. The Kangaroo Flat Sand Dam Project's estimated production timeframe is 4-6 weeks.

14/03/2019

The company lodges its Quarterly Activities Report.

31/01/2019

The company releases corporate update

20/12/2018

The company releases the CEO Presentation at AGM.

03/12/2018

The company releases the results of its AGM.

30/11/2018

The delivery of funds from the loan of $3.0 million secured for the Company from Silver Bright International Development Limited, GBM Gold's largest shareholder has been delayed until on or before 10 December 2018. GBM is also currently discussing with another party to provide a $3.0 million short term loan before 4 December 2018. GBM Gold also wishes to update the market that the Company is well advanced in its preparation of a fully underwritten rights issue with a plan to make an announcement about the full details of this in due course. The successful completion of the Company's ongoing capital raising efforts will enable further activities to be undertaken in three significant targeted areas. Unity Mining has given notice of an Event of Default of the General Security Deed between Unity Mining and Kralcopic Pty Limited dated 17 May 2016. GBM Gold has seven (7) days to remedy this default and along with the $3.0 million loan payment expected, the Company is exploring a range of other funding sources to meet the 4 December deadline for the payment of $1,878,000 to Unity Mining.

28/11/2018

The delivery of the funds from the loan of $3.0 million secured for the Company from Silver Bright International Development Limited, GBM Gold's largest shareholder has been delayed. The proceeds of the loan will be used for the payment of the third deferred bond payment to Unity Mining for the Kangaroo Flat assets and for working capital purposes. GBM Gold is exploring a range of capital raising activities for the repayment the loan.

16/11/2018

The company releases a notice of meeting. Meeting will be held: 30 November 2018 at 1:00 pm at 66 Ham Street, Kangaroo Flat Victoria, 3555.

02/11/2018

Investor subscribing for 275,000,000 ordinary shares at $0.01 per share in a private placement of $2.75 million announced on 4 October 2018 has been withdrawn. $3 million loan was secured from Silver Bright International Development Limited. Total receipt of $3.0 million in loan funds to be completed by 15th November 2018 with an upfront payment of $1.0 million. The total proceeds of the loan will be used for the payment of the deferred bond repayment in the amount of $1.878m and for working capital purposes in the amount of $1.122m. GBM Gold will remain in suspension until the receipt of the $3m.

25/10/2018

The company lodges its Quarterly Activities Report.

25/10/2018

The company requests that the suspension of its securities be extended by a further day. The Company expects to make an announcement in relation to the matters requiring the suspension prior to trading commencing tomorrow, 24 October 2018.

23/10/2018

The Company requests the voluntary suspension remain in place until the earlier of commencement of normal trading on Tuesday 23 October 2018 or the Company requests the trading halt to be lifted.

16/10/2018

The securities of GBM Gold Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBM, pending the release of an announcement regarding a capital raising.

11/10/2018

The suspension of trading in the securities of GBM Gold Ltd (the "Company") will be lifted at the commencement of trading on Wednesday, 4 December 2013, following the release of the Company's audited full year accounts for the period ended 30 June 2013 on 2 December 2013. Security Code: GBM

03/12/2013

releases Annual Report and Financial Statements 2013

02/12/2013

GBM) has received the final tranche of payments and completed the Inglewood transaction referred to in its release of 7 November 2013. Final payment pursuant to the agreement between the Company, Inglewood Gold Mining Company Pty Ltd (INGMCo) and Wilshire Asset Management SA (Wilshire) means GBM and Wilshire can now concentrate on the recommencement of operations at Inglewood

27/11/2013

GBM Gold Ltd (ASX: GBM) announces that its fully owned subsidiary Inglewood Gold Mining Company Pty Ltd (INGMCo) has received A$1.5 million from Wilshire Asset Management SA (Wilshire) as the first tranche of payments under an amendment to the Inglewood Engagement Heads of Agreement (Inglewood Agreement). GBM expects a second, and final, tranche payment of A$1.5 million by 15 November 2013

07/11/2013

suspended from Official Quotation from the commencement of trading today 1 October 2013 following failure to lodge their Full Year Accounts for the period ended 30 June 2013 in accordance with Listing rules

01/10/2013

The suspension of trading in the securities of GBM Gold Limited (the "Company") will be lifted prior to commencement of trading on Thursday, 21 March 2013, following lodgement of the Company" half year report and accounts for the period ended 31 December 2012. Security Code: GBM

20/03/2013

The securities GBM Gold Limited will be suspended from Official Quotation from the commencement of trading today 18 March 2013 following failure to lodge its Half Year Accounts for the period ended 31 December 2012 in accordance with Listing rules.

18/03/2013

The suspension of trading in the securities of GBM Gold Ltd (the "Company") will be lifted immediately, following the release of an announcement by the Company

03/05/2012

company has signed a letter of intent with International resources and mining company Sterlington Resources Ltd for provision of a substantial funding package

03/05/2012

The securities of GBM Gold Ltd (the "Company") will be suspended from quotationimmediately, at the request of the Company, pending the release of an announcement. Security Code: GBM

02/05/2012

name changed from Greater Bendigo Gold Mines Limited

07/07/2011

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    14/06/2013Ian SmithOn market23,158,166$0.016$381,726
    07/06/2013Stuart HallOn market3,771,000$0.017$64,107
    28/05/2013Ian SmithOn market12,289,000$0.017$207,782
    28/05/2013Stuart HallOn market5,882,000$0.017$99,994

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Eric NgNon Exec Chairman, Independent Director04/08/2010
    Jianping WangNon Exec Director04/11/2016
    Paul ChanDirector17/10/2011
    Andy LaiDirector17/10/2011

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Linda LauIndependent Director10/07/201314/11/2019
    John HarrisonCEO22/05/201323/04/2019
    Andrew ChanNon Exec Director01/07/201426/11/2018
    Ian SmithChairman30/06/200610/07/2013
    Stuart HallDirector17/10/201110/07/2013
    John CahillManaging Director19/06/200725/02/2013
    Wayne JohnsonDirector11/02/201029/11/2012
    Malcolm CarsonIndependent Director28/04/201005/03/2012

    Date of first appointment, title may have changed.