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Gibb River Diamonds Limited ( (AU:GIB) ) just unveiled an update.
Gibb River Diamonds Limited has received a Mining Proposal Permit for the Neta Gold Prospect at the Edjudina Project, allowing mining to commence. The company, in partnership with BML Ventures Pty Ltd, plans to mobilize equipment in August 2025 to prepare for mining operations. BML will handle all mining-related costs, minimizing Gibb River’s financial exposure. The ore processing is expected to utilize existing BML milling contracts, with profits shared equally between the two companies. This development marks the final regulatory step for mining the Neta deposit, which holds a significant gold resource.
More about Gibb River Diamonds Limited
Gibb River Diamonds Limited operates in the mining industry, primarily focusing on diamond and gold exploration and development. The company is engaged in projects such as the Edjudina Gold Project, located in the Eastern Goldfields of Western Australia, where it collaborates with private mining contractors to advance its mining operations.
YTD Price Performance: 17.50%
Average Trading Volume: 121,716
Technical Sentiment Signal: Buy
Current Market Cap: A$10.08M
For detailed information about GIB stock, go to TipRanks’ Stock Analysis page.