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Great Divide Mining Ltd ( (AU:GDM) ) has shared an update.
Great Divide Mining Ltd has entered into binding agreements with Adelong Gold Limited to resolve a dispute over its 51% interest in Challenger Mines Pty Ltd. The settlement involves GDM acquiring the remaining 49% of Challenger Mines, issuing 10 million shares to ADG, and ADG paying a settlement sum. Additionally, ADG will retain proceeds from a property sale and receive a 1% royalty on gold production from Challenger Mines, capped at 125,000 ounces. The agreements are subject to regulatory approvals and shareholder consent, with specific escrow conditions for the issued shares.
More about Great Divide Mining Ltd
Great Divide Mining Ltd operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily involved in the extraction and sale of gold and other minerals.
Average Trading Volume: 33,598
Technical Sentiment Signal: Hold
Current Market Cap: A$15.36M
For a thorough assessment of GDM stock, go to TipRanks’ Stock Analysis page.