GBM Resources Limited (AU:GBZ) has released an update.
GBM Resources Limited has extended the period of exclusivity for the sale of its White Dam Project to Olary Gold Mines Limited, with a new deadline for meeting a $2 million funding condition set for August 15, 2024. The deal, valued at $2.95 million plus royalties, includes a structured cash payment schedule and a royalty agreement on future gold and silver production. This move aligns with GBM’s strategy to focus on its high-grade gold deposits in the Drummond Basin and transition into a mid-tier gold company.
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