GBM Resources Limited (AU:GBZ) has released an update.
GBM Resources Limited has entered a binding agreement with Wise Walkers Limited for the Twin Hills Gold Project, where Wise Walkers will acquire a 70% interest by funding $12 million for exploration and development. GBM will retain a 30% carried interest until a decision to mine is made, with a cash consideration of $6 million aiding GBM’s debt repayment and providing working capital. The deal underscores GBM’s strategy to realize shareholder value from asset advancement, focusing next on the Yandan Gold Project.
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