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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Drill Results Routine +

Gelum Closes Non-Brokered Private Placement and Retains Geophysics Consultant for Property-Wide Survey

Gelum secures $4.3M to fund geophysics at Chile's Las Tinajas gold project

By The Northwire Desk — AI Analysis Jun 23, 2026 · 12:39 GMR · 0.69 Gelum Resources Ltd.
Executive Summary
  • Gelum Resources Ltd. closed a non-brokered private placement raising $4,293,095.57.
  • The company issued 11,602,961 units at $0.37 per unit.
  • Each unit includes one common share and one-half of a common share purchase warrant exercisable at $0.52 per share for 24 months.
  • Proceeds are allocated to working capital and a property-wide Magnetotellurics (MT) and Vector Induced Polarization (VIP) geophysical survey at the Las Tinajas Project in Chile.
  • The survey, contracted to Southern Rock Geophysics, is scheduled to begin in mid-July 2026.
  • It targets porphyry copper-gold mineralization and historical gold-mineralized diatreme breccia using a high-resolution 32-bit gDAS32 acquisition system.
  • Insider director Chad Williams purchased 500,000 units in the offering.
  • Finder's fees were paid to Canaccord Genuity Corp. and Haywood Securities Inc. in cash and non-transferable warrants.
Material Impact
  • The financing provides essential working capital to execute the next phase of the exploration program announced in May 2026.
  • The $0.37 placement price represents a significant discount to the current market price of $0.69, which is standard for private placements but introduces immediate dilution to existing shareholders.
  • The geophysical survey is a direct follow-up to the initial reconnaissance and sampling that identified high-grade gold (6.68 g/t Au) and copper-molybdenum anomalies.
  • The news does not alter the company's revenue or profitability profile, as it remains in the pre-revenue exploration stage.
  • The capital raise extends the company's runway to complete the geophysical survey and potentially advance toward the drilling phase required under the option agreement.
GMR · Price
Company Overview
  • Gelum Resources Ltd. is a junior gold exploration company focused on the Las Tinajas Gold Project in the Northern Maricunga Belt, Chile.
  • The project covers 2,600 hectares and targets epithermal disseminated gold mineralization associated with silicified porphyry intrusions and diatreme breccias.
  • Historical drilling has returned multiple intervals >1 g/t Au, with several holes ending in mineralization, suggesting bulk-tonnage open-pit potential.
  • The company recently completed the acquisition of the project via an option agreement with staged cash payments totaling up to $11.5 million and a 2.5% NSR royalty.
  • Minimum exploration expenditures of $3 million, including at least 4,000 meters of drilling, are required to earn full interest.
Read the original news release →

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May 19, 2026 · 12:53

Gelum’s first sampling at Las Tinajas returns 6.68 g/t Au over 5m; $5M raise at 61% premium to prior placement, but drill‑proven ounces remain absent.

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