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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.035 -0.021 (-37.50%)+
Announcement
Release
16 Dec 2025 10:07AM
Price at Release
$0.056
Full Release
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Summary
Gibb River Diamonds Limited (ASX: GIB) announced the commencement of trucking operations and secured additional treatment capacity for the Neta Gold Mine material at the Edjudina Gold Project, located in the Eastern Goldfields of Western Australia. An agreement has been made with Focus Minerals Limited's Three Mile Hill facility to process 30,000 tonnes of Neta material. This adds to the existing agreement with Black Cat Syndicate Limited for processing 100,000 tonnes at their Lakewood Mill. The trucking of high-grade material is prioritized, and operations are ongoing despite a minor pit wall incident, which did not impact production timelines. GIB carries minimal financial exposure as mining costs are covered by BML Ventures Pty Ltd, and a 50/50 profit-sharing agreement is in place. The first cash proceeds are expected by February/March 2026.
Key Points
  • Trucking of Neta mined material has commenced.
  • Agreements are in place for processing 130,000 tonnes of material at local mills.
  • High-grade material is prioritized for processing.
  • A pit wall incident did not impact production schedule.
  • GIB carries minimal financial risk due to BML Ventures covering mining costs.
  • Profit sharing with BML Ventures is arranged on a 50/50 basis.
  • First cash proceeds are expected by February/March 2026.
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.