Gibb River Diamonds Enters Mining Agreement for Edjudina Gold Project

Gibb River Diamonds Limited ( (AU:GIB) ) has provided an update.

Gibb River Diamonds Limited has entered into a contract mining agreement with BML Ventures Pty Ltd for the development of the Neta Prospect at the Edjudina Gold Project in Western Australia. This agreement allows the company to realize the commercial potential of the Neta deposit, which has a JORC Resource of 378,000 tonnes at 1.9 g/t for 24,000 Oz of gold. BML will handle all mining-related capital and operational costs, and profits will be shared equally between Gibb River and BML. The companies are working towards obtaining necessary approvals to commence mining operations, anticipated to start as early as August 2025, with production sold into the spot gold market.

More about Gibb River Diamonds Limited

Gibb River Diamonds Limited is a company operating in the mining industry, focusing on the exploration and development of diamond and gold projects. The company is primarily engaged in projects located in Western Australia, with a market focus on extracting valuable mineral resources.

Average Trading Volume: 121,848

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$6.86M

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