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An announcement from Gibb River Diamonds Limited ( (AU:GIB) ) is now available.
Gibb River Diamonds Limited has entered into an agreement with BML Ventures Pty Ltd for open pit gold mining at the Neta Prospect within its Edjudina Gold Project in Western Australia. This arrangement allows Gibb River Diamonds to minimize financial exposure while sharing net surplus cash with BML. The company is optimistic about commencing mining by August 2025, pending necessary permits. Additionally, rehabilitation works continue at the Ellendale Diamond Project under the Abandoned Mines Program, with no financial liability for Gibb River Diamonds.
More about Gibb River Diamonds Limited
Gibb River Diamonds Limited is a company operating in the mining industry, primarily focusing on gold and diamond projects. The company is engaged in developing its 100% owned Edjudina Gold Project and Ellendale Diamond Project, both located in Western Australia. Gibb River Diamonds aims to leverage its resources in these projects to enhance its market position in the mining sector.
Average Trading Volume: 127,575
Technical Sentiment Signal: Hold
Current Market Cap: A$9.01M
For a thorough assessment of GIB stock, go to TipRanks’ Stock Analysis page.