G50 lands $26.25M placement, with Hancock Prospecting backing US drilling push
What's the deal? G50 (ASX:G50) has secured firm commitments for a $26.25 million institutional placement to accelerate exploration at its Golconda and White Caps projects in the US. Hancock ProspectingDealroom has a profile for this one. Try Dealroom → has committed $7.95 million and is expected to hold about 5.4% of G50's issued capital once the deal completes.
The terms: G50 will issue roughly 44.1 million shares at $0.595 each in a single-tranche placement. That marks a 9.8% discount to its $0.66 close on 24 July 2026, but a 3.2% premium to the five-day volume-weighted average price. Bell Potter Securities and Morgans Corporate are joint lead managers and bookrunners.
What's the endgame? The proceeds will fund drilling and metallurgical testwork across both US assets: the Golconda Gold-Silver-Gallium Project in Arizona and the White Caps Gold Project in Nevada. Planned work also includes geological studies, gallium testwork, and early permitting at Golconda.
The projects: Golconda holds a historical zinc, lead, gold, and silver mine near the Mineral Park copper-molybdenum-silver mine, where G50 reports gold-silver and gallium mineralisation. White Caps, a historical gold mine drilled by Freeport-McMoRan between 1982 and 1984, sits near Scorpio Gold's Manhattan Gold Project.
Why the price matters: The placement priced at a step-up of about 12.9 points versus G50's previous round, a marker of improving investor terms. Managing director Mark Wallace says the raising reflects "confidence in G50's strategy of systematically advancing our U.S. portfolio of precious and critical mineral assets."
The signal: Gallium and antimony, both flagged in G50's exploration, sit high on Western critical-minerals lists, and a major backer like Hancock Prospecting anchoring the round points to sustained appetite for US-based supply of these metals.
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