GBM Resources Limited (AU:GBZ) has released an update.
GBM Resources Limited has provided updates on the sale of its White Dam Gold Project and Sevastopol Graphite Rights, both key asset divestments. The White Dam sale to Olary is progressing with the funding condition of $2 million met, aiming for completion by October 2024, and includes a total cash consideration of $2.95 million plus royalties. Meanwhile, GBM has initiated an option agreement with Graphite Plains Pty Ltd for the Sevastopol Graphite Prospect, with a potential total consideration of $1.2 million and additional royalties.
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