Australia’s GBM Resources plans Hong Kong secondary listing to tap wider investors

Australian gold and copper explorer GBM Resources said it plans to seek a secondary listing in Hong Kong to broaden its investor base, capture a potential valuation premium and strengthen its international profile.

The Queensland-based miner—whose flagship Twin Hills, Yandan and Mt Coolon projects hold a combined 1.84 million ounces of JORC-compliant gold resources—has a market value of about A$158 million (HK$797 million).

GBM said it has signed a memorandum of understanding with major shareholder Wise Walkers Limited, which will cover all listing-related expenses. The company will repay WWL only after a successful listing.

WWL will also act as an adviser, helping introduce sponsors and underwriters and coordinating preparatory work.