GBM Resources Limited ( (AU:GBZ) ) has shared an update.
GBM Resources Limited has executed a definitive agreement to sell its Mt Morgan Gold Copper Project to Lithium Energy Limited. This transaction allows GBM to focus on its core gold assets in the Drummond Basin while maintaining exposure to the Mt Morgan Project through contingent payments. The sale supports GBM’s financial strategy by aiding in the repayment of a Convertible Note and aligns the company with a strong partner in Lithium Energy, which plans to conduct extensive exploration to discover significant gold and copper deposits.
More about GBM Resources Limited
GBM Resources Limited is a company operating in the mining industry, primarily focusing on gold and copper projects. The company is known for its exploration and development activities, particularly in the Drummond Basin, and aims to enhance its asset portfolio through strategic transactions.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$8.2M
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