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An update from Great Northern Minerals Limited ( (AU:GNM) ) is now available.
Great Northern Minerals has accelerated the sale of its remaining 37% stake in Golden Ant Mining, owner of the Camel Creek and Golden Cup gold projects, to Great Eastern Gold for $2 million, giving Great Eastern full ownership. The revised deal, now completed, simplifies GNM’s asset base and delivers additional cash, with certain tenements transferred to NorthX Pty Ltd under associated joint venture arrangements.
The company is advancing exploration at its Douglas Creek prospect, where earlier sampling and drilling confirmed shallow, high-grade gold, silver and copper mineralisation within a disseminated sulphide system. Post-quarter, GNM acquired the advanced-stage Iron Butte gold-silver project in Nevada’s Battle Mountain–Cortez district, leaving it with a cash balance of $4.2 million after the Golden Ant divestment and U.S. expansion, and strengthening its pipeline of exploration targets.
More about Great Northern Minerals Limited
Great Northern Minerals Limited is an Australia-listed mineral exploration and development company with a focus on gold and silver projects. The company is reshaping its portfolio through asset divestments in Queensland and acquisitions in North America, positioning itself toward advanced-stage projects in established mining districts.
YTD Price Performance: -17.78%
Average Trading Volume: 700,672
Technical Sentiment Signal: Sell
Current Market Cap: A$19.5M
See more data about GNM stock on TipRanks’ Stock Analysis page.