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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.

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