Great Divide Mining Ltd has announced the successful completion of its convertible note raising, which received strong support from both new and existing shareholders.

The raising closed well above the $1.0 million target, highlighting investor confidence in GDM’s rapid progress from explorer to gold producer.

The majority of funds will be invested to further upgrades of the Challenger Gold Mine at Adelong, NSW, accelerating the transition toward sustainable, continuous operations.

A key focus will include the expansion of the site’s processing plant, including the introduction of spiral separation technology designed to deliver continuous gold recovery.

“This funding positions GDM to meet its commitments at Challenger to steadily increase throughput and to support near-term annualised production targeting over 20,000 oz of gold,” said GDM’s CEO Justin Haines.