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An announcement from GBM Resources Limited ( (AU:GBZ) ) is now available.
GBM Resources Limited has announced the sale of its White Dam gold-copper heap leach project in South Australia to Pacgold Limited. This divestment aligns with GBM’s strategy to concentrate on its Drummond Basin gold assets, particularly the Twin Hills Gold Project, while retaining a stake in the potential success of White Dam through shares in Pacgold. The transaction includes an initial cash payment, shares in Pacgold, and a deferred payment contingent on future gold production. This move is expected to provide non-dilutive funding for GBM’s ongoing exploration efforts and resource growth at Twin Hills, amid favorable gold market conditions.
The most recent analyst rating on (AU:GBZ) stock is a Buy with a A$0.09 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. Its primary assets are located in the Drummond Basin in Queensland, Australia, with a particular emphasis on the Twin Hills Gold Project. The company aims to unlock value from its non-core assets to fund its core projects.
Average Trading Volume: 13,735,593
Technical Sentiment Signal: Hold
Current Market Cap: A$244.6M
See more insights into GBZ stock on TipRanks’ Stock Analysis page.