The ASX-listed entity, which started the week capitalised at A$2.6 million, will potentially issue 90 million shares for the various "strategically located" properties covering 14.5 square kilometres.

GTI currently has about 160 million shares on issue, with another 40 million to be issued at 1c to raise funds with regards this deal, and potentially another 101 million as part of a $1 million non-renounceable issue.

CPS Capital is involved in the fund raisings.

As of earlier this year resource sector promoter Kumova had an 8.6% stake in the company, with CPS CEO Jason Peterson holding over 9%.

Kumova boosted his stake from 5.6% to 8.6% last year by spending $136,000 buying new shares priced at 1.7c each.

Corporate exec Bruce Lane is now set to lead the company replacing Murray McDonald, with the latter having had a good run leading the company since 2007.

Lane is ex-Stonehenge/Protean, which had uranium/vanadium interests in South Korea.

Shares in GTI were up 6% to 1.7c in morning trade, capitalising the company at $2.77 million.