GBM Resources Limited (ASX:GBZ) Releases Q4 Activities Report
Exploration Progress
GBM Resources (ASX:GBZ) advanced its Yandan and Twin Hills projects by remodeling geophysical datasets and initiating a strategic two-year exploration programme aimed at new discoveries and resource expansion.
Strategic Partnerships
Shareholders approved a A$12 million farm-in agreement with Wise Walkers Limited for the Twin Hills Project. Additionally, GBM completed a A$25 million farm-in with Newmont for the Mt Coolon Gold Project, fulfilling Newmont’s minimum expenditure commitment.
Financial Performance
The company generated approximately A$1.9 million in revenue from the White Dam Gold Project through the sale of 466 ounces of gold. GBM also reduced its Convertible Note debt from A$10 million to ~A$6.1 million with a repayment of ~A$400,000.
Corporate Developments
Andrew Krelle was appointed Executive Director and Edward Jelicich-Kane as General Manager – Exploration, strengthening GBM’s leadership for upcoming exploration activities.
Safety and Environmental
GBM reported no Lost Time Incidents (LTIs) or environmental incidents during the December ’24 quarter, maintaining 154 consecutive months without LTIs and 199 months without significant environmental incidents.
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