New Stock News: Australian Gold Mining Company GBM Resources (GBZ.AU) Plans Second Listing in Hong Kong.

According to media reports, the mineral extraction company GBM Resources (GBZ.AU) listed on the Australian Securities Exchange recently announced plans to have a secondary listing in Hong Kong to expand their investor base, gain a valuation premium from being listed in Hong Kong, and enhance their international influence. CEO Daniel Hastings stated that he believes listing in Hong Kong will allow the company to showcase its development to a wider range of investors, especially considering the region's deep understanding of resource companies and strong demand for gold investments. The secondary listing in Hong Kong will enhance the company's market influence, improve stock liquidity, and support the company's next stage of resource expansion. Public information shows that GBM Resources is a mineral resources company based in Queensland, Australia, focusing on exploring and developing gold and copper mines. The company holds a high-quality project portfolio in the Drummond Basin of Queensland, including the Twin Hills, Yanda, and Mt Coolon projects, with a total JORC standard gold resource of approximately 1.84 million ounces. As of November 18th, GBM Resources had a total market value of about AUD 149 million (approximately HKD 751 million). According to an announcement released by GBM Resources on the 13th, the company has signed a Memorandum of Understanding (MOU) with their largest shareholder, Wise Walkers Limited (referred to as "WWL"), to collaborate on the preparation work for the company's secondary listing on the Hong Kong Stock Exchange. WWL will bear all listing-related expenses, which will be repaid only after GBM Resources successfully completes the secondary listing. Additionally, WWL will serve as an advisor, introducing sponsors, underwriters, and other professional teams, as well as conducting preliminary coordination, investor introductions, and compliance-related preparations. The memorandum is valid for 18 months, with an automatic extension of 6 months if the listing process is initiated. It is worth noting that the company's two major shareholders have connections to Hong Kong. WWL holds 20% of the company's shares, and WWL Chairman Lu Hang became a non-executive director of GBM in August. WWL is a family office originating from Hong Kong with headquarters in Melbourne, with investments in property, agriculture, and resources. The other shareholder, "Hong Kong Mashun International Energy Industry Group," holds 7.26% of the shares.