Drilling Program Expanded to 36,000 Meters

Now it’s official: Gold explorer Goliath Resources (WKN A2P063 / TSXV GOT) has completed the final tranche of a financing that has brought the company led by CEO Roger Rosmus a total of more than $16 million in cash! And this at a time when other exploration companies are struggling to raise fresh capital at all.

It’s also impressive that several strategic investors either took new positions in Goliath or expanded their existing positions as part of the placement. This included Crescat Capital further expanding its support, as did a globally active commodity group from Singapore, but also mining legend Rob McEwen acquiring shares in the company for a third time, which is currently exploring its huge Golddigger property at full speed. New to the list of strategic shareholders is Mr. Larry Childress.

Currently, Mr. Childress is, for example, the second largest shareholder of Fireweed Metals after the Lundin family, holding 22 million shares of the company. His other major investments include Filo and Hercules Metals. Mr. Childress was also the second largest shareholder of Noront Resources when the company was acquired by Wyloo for $637 million, well above market value.

With the funds received from these and other investors totaling $16,120,500, Goliath has expanded its current drilling program from 15,000 to 36,000 meters and significantly increased the number of active drills. Now, a whole series of drilling results should be able to be published in the near future, after the company has received, interpreted, and compiled them from the laboratory. Given that Goliath has already encountered visible gold in numerous drills, we are very excited!