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The latest announcement is out from GBM Resources Limited ( (AU:GBZ) ).
GBM Resources Limited has regained 100% ownership of the Mt Coolon Gold Project in Queensland following Newmont’s withdrawal from a previous farm-in agreement. This consolidation significantly enhances GBM’s landholding in the Drummond Basin, a highly prospective area for gold exploration. The project includes a JORC resource of 330,000 ounces of gold and multiple untested targets, which GBM plans to explore further. The move aligns with GBM’s strategy to build a leading gold portfolio in the region, alongside its Twin Hills and Yandan projects, providing the company with substantial ground and flexibility to unlock value.
The most recent analyst rating on (AU:GBZ) stock is a Buy with a A$0.08 price target. To see the full list of analyst forecasts on GBM Resources Limited stock, see the AU:GBZ Stock Forecast page.
More about GBM Resources Limited
GBM Resources Limited is a company operating in the mining industry, focusing on gold exploration and development. The company is primarily involved in exploring and developing gold projects in the Drummond Basin, Queensland, with a market focus on expanding its gold portfolio.
Average Trading Volume: 14,563,165
Technical Sentiment Signal: Hold
Current Market Cap: A$143.4M
See more data about GBZ stock on TipRanks’ Stock Analysis page.