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GBM Resources Limited (ASX:GBZ)

ALERT: Price-sensitive ASX Announcement for GBZ
Current share price for GBZ : $0.029 -0.01 (-25.64%)+
Announcement
Release
31 Oct 2025 9:31AM
Price at Release
$0.039
Full Release
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Summary
In the September 2025 quarterly report, GBM Resources Limited highlighted the commencement of a significant drilling campaign at its Twin Hills project aimed at expanding the resource base and exploring high-priority extensions. The company also consolidated full ownership of the Mt Coolon Gold Project after Newmont withdrew from their agreement, enhancing GBM's position in the Drummond Basin. Financially, GBM reported reduced operations at its White Dam project with a revenue of $155,000 amidst expenses of $340,000. Strategic corporate changes included the appointment of Daniel Hastings as CEO and a $40 million fundraising effort through a share placement to bolster its financial stability and support ongoing exploration efforts.
Key Points
  • Commencement of Stage 1 drilling at Twin Hills to expand resources.
  • Full ownership consolidation of the Mt Coolon Gold Project.
  • Reduced operation at White Dam with revenue of $155,000 and expenditures of $340,000.
  • Appointment of Daniel Hastings as Chief Executive Officer.
  • Successful $40 million fundraising through share placements.
  • Focus on unlocking value from non-core asset portfolio.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.