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Great Divide Mining Ltd (ASX:GDM)

ALERT: Price-sensitive ASX Announcement for GDM
Current share price for GDM : $0.335 0.025 (8.06%)+
Announcement
Release
8 Dec 2025 9:10AM
Price at Release
$0.310
Full Release
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Summary
Adelong Gold Limited has entered into a binding agreement to sell its remaining 49% interest in Challenger Mines Pty Ltd to Great Divide Mining Limited, involving the sale of 10,000,000 shares in CMPL in exchange for 10,000,000 fully paid ordinary GDM shares. The transaction is valued at approximately $3.1 million and improves Adelong's balance sheet, allowing the company to focus on its Lauriston and Apollo projects. Additionally, Adelong retains a 1% net smelter return royalty on future gold production, valued at around $7.9 million based on current gold prices. The joint venture will terminate upon completion of the transaction, subject to standard conditions including GDM shareholder approval.
Key Points
  • ADG to sell 49% interest in Challenger Mines Pty Ltd to GDM.
  • Consideration of 10 million GDM shares valued at ~$3.1 million.
  • Adelong retains a 1% NSR royalty over future gold production.
  • Transaction strengthens Adelong's balance sheet.
  • Removes future funding obligations for Adelong.
  • Allows focus on Lauriston and Apollo projects.
  • Completion subject to standard conditions and approvals.
  • Transaction resolves outstanding joint venture matters.
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.