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An announcement from Gibb River Diamonds Limited ( (AU:GIB) ) is now available.
Gibb River Diamonds Limited has successfully completed a heritage survey at the Neta Prospect, part of the Edjudina Gold Project, with no issues impacting the proposed open pit mining area. This marks a significant step towards commercializing the Neta gold deposit, which has a JORC Resource of 378,000 tonnes at 1.9 g/t for 24,000 Oz Au. The mining development will be conducted by BML Ventures Pty Ltd, with Gibb River Diamonds not bearing any capital costs. The net surplus cash from operations will be split equally between the two companies.
More about Gibb River Diamonds Limited
Gibb River Diamonds Limited operates in the mining industry, focusing on diamond and gold exploration and development. The company is involved in projects such as the Edjudina Gold Project in Western Australia, with a market focus on extracting and processing mineral resources.
YTD Price Performance: -17.50%
Average Trading Volume: 123,379
Technical Sentiment Signal: Sell
Current Market Cap: A$7.08M
See more insights into GIB stock on TipRanks’ Stock Analysis page.