Global Fortune Investment seeks to raise $3.9 million through an initial public offering of 13 million shares priced at $0.30 each.
Oversubscriptions of up to a further 13.7 million shares may be accepted to raise a further $4.11 million.
The company seeks to become a multi-tiered Chinese-Australian investment vehicle through its existing interests in Western Australian exploration assets that are prospective for gold as well as becoming a participant in the growing Australia/New Zealand and China food, beverage and agriculture business.
Significant oversubscriptions will allow the company to fast track the development of its agricultural trade business unit beyond what is initially planned.
Western Australia
The company is focused on its Yarri Range Project that covers an area of 97.2 square kilometres in the Eastern Goldfields region about 170 kilometres northeast of Kalgoorlie.
It is situated in a place historically associated with gold mining activities and is accessible via the Yarri/Pinjin Road running through the tenements and connects to the existing haul road network of the Eastern Goldfields and the Goldfields Highway.
Independent studies of regional gold prospectivity have all indicated that the Yarri Range area has high prospectivity for discovering significant mesothermal gold mineralisation.
Historical recovery of more than 500 kilograms of gold from surface workings (0 – 20 m) along the shear zone indicates the possibility for discovery of additional mineralisation at depth.
Field and assay data have also suggested the likely extension of gold mineralisation at depth in the Yarri Range Project area.
Global Fortune Investment will implement modern and systematic exploration on the project to determine a JORC Resource.
Potential expansion into agricultural, food and beverage trade
The company also has medium to long term plans to utilise its strategic partnership agreement with China based, Shenzhen Yuhua Xinnong Resources Management Co Ltd (SYX), a company operating an online platform trading agricultural products in China, to become an active participant in the growing Australia/New Zealand and China food, beverage and agriculture business.
With a population of over 1.3 billion, China has emerged as the world’s largest consumer food and beverage market.
Increased interest and demand for food and beverage from Australia and New Zealand is being driven by China’s strong economic growth and its rising per capita income.
The signing of the China Australia Free Trade Agreement in November 2014 has strengthened the trade relationship between Australia and China.
Online trading is also rapidly expanding and an ecommerce platform can greatly facilitate sourcing, marketing and trading of food, beverage and agricultural products.
The company expects to trade as GFI on the ASX.
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