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Gibb River Diamonds Limited ( (AU:GIB) ) just unveiled an announcement.
Gibb River Diamonds Limited has commenced grade control drilling at the Neta Prospect within the Edjudina Gold Project, marking a significant step towards mining operations. The drilling is funded by BML Ventures Pty Ltd, minimizing financial risk for Gibb River Diamonds. The project is awaiting a Mining Proposal permit, and if granted, mining could begin as early as August 2025. This development is crucial for the company’s operations, as it paves the way for open-pit mining and potential revenue generation from gold sales in the spot market.
More about Gibb River Diamonds Limited
Gibb River Diamonds Limited is involved in the mining industry, focusing on gold exploration and development. The company is currently working on the Edjudina Gold Project in Western Australia, which includes the Neta Prospect. This project has a JORC (2012) Resource estimate of 378,000 tonnes at 1.9 g/t for 24,000 oz of gold, indicating a significant potential for gold extraction.
Average Trading Volume: 113,491
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$7.51M
Find detailed analytics on GIB stock on TipRanks’ Stock Analysis page.