London, July 6, 2026, 11:06 (BST)
- Great Southern Copper put 2.42 million extra shares on the market at 8 a.m., taking voting rights up to 773.37 million.
- Directors picked up shares at 3.0p via warrants, bringing in £72,500 gross.
- The admitted block was roughly 2.6 times the number of shares showing on a delayed quote screen this morning.
- The key test coming up isn’t the share count. It’s the assay results from drilling at Especularita.
Great Southern Copper PLC LON:GSCU said 2,416,666 new ordinary shares started trading on the London Stock Exchange at 8 a.m. Monday. The new shares bring the total issued shares and voting rights to 773,370,156. The new issue is only 0.31% of the register but it resets the denominator holders use in UK disclosure filings.
The London Stock Exchange was open for its usual Monday hours at the time of the report. TradingHours had the market scheduled from 8:00 a.m. to 4:30 p.m. local on July 6, and it was 11:06 BST in London.
Great Southern Copper was quoted at 2.70p to sell and 3.00p to buy on a delayed quote page, down 0.03p, or 1.10%. Volume was 943,776 shares. The page showed the day’s high at 3.00p, previous close at 2.73p, and market value at roughly £20.88 million.
| Measure | Figure | Why it matters |
|---|---|---|
| New shares admitted | 2,416,666 | Makes up 0.31% of enlarged voting rights |
| Enlarged voting rights | 773,370,156 | This is the new disclosure base |
| Delayed volume shown | 943,776 | This block is about 2.6x that trading volume |
| Sell/buy quote | 2.70p / 3.00p | Spread is around 10.5% using the mid |
| Value of new shares at 2.70p | About £65,250 | That’s lower than the £72,500 raised from warrants |
Two directors exercised warrants on June 29, bringing in £72,500. CEO Sam Garrett took up 2,083,333 shares and non-exec chairman Charles Bond subscribed for 333,333 shares, both at 3.0p. That matches Monday’s buy price on the delayed quote and is above the 2.70p sell price.
The last voting-rights total, after July 2, stood at 770,953,490. With Monday’s notice, that figure goes up by 2,416,666 shares. The technical shift is minor but precise for anyone close to a reporting threshold.
| Holding line | Old share count basis | New share count basis | Change in shares |
|---|---|---|---|
| 3% | 23,128,605 | 23,201,105 | +72,500 |
| 5% | 38,547,675 | 38,668,508 | +120,833 |
| 10% | 77,095,349 | 77,337,016 | +241,667 |
The key market point is the dilution’s minor next to the bid-offer spread, but the updated share count shifts some threshold calculations before public data sources adjust. Google Finance, post-RNS, was still showing 770.95 million shares outstanding, trading volume at 1.07 million, a 52-week top of 4.20p and a floor of 1.72p.
The share-count update isn’t a drilling result. Great Southern Copper last gave an ops update June 16, saying scout RC drilling was underway at Artemisa South in Chile, and five holes totalling 662 metres were finished at Victoria. Garrett described Artemisa South as “the final of four targets” in the present porphyry program. Investegate
The update started the two-to-four-week clock for first assay results from June 16, so results are expected between late June and mid-July. Victoria samples went to ALS Laboratories in Santiago, according to the same RNS, which also said geology and assay results will decide the next drilling step at La Colorada.
