It has been reported that GBM Resources Ltd (GBZ.AU), a mineral exploration company listed on the Australian Securities Exchange, recently announced plans for a secondary listing in Hong Kong. The move aims to broaden its investor base, capitalize on valuation premiums associated with a Hong Kong listing, and strengthen its global presence.
CEO Daniel Hastings stated that Hong Kong provides an ideal platform to showcase the company’s growth to a wider investor audience, particularly given the region’s deep understanding of resource companies and strong demand for gold investments. A secondary listing in Hong Kong is expected to enhance market influence, improve stock liquidity, and support the company’s next phase of resource expansion.
GBM Resources is a Queensland-based mining company focused on gold and copper exploration. Its portfolio includes high-quality projects in the Drummond Basin, notably the Twin Hills, Yanda, and Mt Coolon flagship projects, which collectively hold approximately 1.84 million ounces of JORC-compliant gold resources. All projects are currently in the exploration phase. As of November 18, the company’s market capitalization stands at around A$149 million (approximately HK$751 million).
On the 13th, GBM Resources announced the signing of a memorandum of understanding (MOU) with its largest shareholder, Wise Walkers Limited (WWL), to jointly advance preparations for a secondary listing on the Hong Kong Stock Exchange. WWL will cover all listing-related expenses, repayable only upon successful listing. Additionally, WWL will act as an advisor, facilitating introductions to sponsors, underwriters, and other professional teams, while coordinating pre-listing efforts, investor roadshows, and compliance preparations. The MOU is valid for 18 months, with an automatic six-month extension if the listing process commences.
Notably, the company’s two major shareholders have ties to Hong Kong. WWL holds a 20% stake, and its chairman, Lu Hang, joined GBM’s board as a non-executive director in August. WWL is a Melbourne-based family office with roots in Hong Kong, investing in real estate, agriculture, and resources. Another shareholder, Hong Kong-based Mason International Energy Industry Group, owns a 7.26% stake.