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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.034 -0.041 (-54.67%)+
Announcement
Release
22 Jan 2026 10:02AM
Price at Release
$0.075
Full Release
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Summary
Gibb River Diamonds Limited (GIB) announced a mining and production update for the Edjudina Gold Project in Western Australia. The processing of ore from the Neta Gold Mine at the Three Mile Hill facility has completed, yielding 1,377 ounces of gold, while processing at Lakewood remains ongoing with 2,841 ounces recovered so far. GIB collaborates with BML Ventures Pty Ltd, who manages mining operations, minimizing GIB’s financial exposure. Surplus cash from operations will be shared equally between GIB and BML. The gold production is solely sold on the spot market, with first cash proceeds expected by February/March 2026. Challenges in achieving anticipated gold grades were encountered due to orebody complexities and a pit wall failure at Neta, but were partly offset by increased ore tonnage and higher gold prices.
Key Points
  • Completion of ore processing from Neta Gold Mine at Three Mile Hill.
  • 1,377 ounces of gold recovered from Three Mile Hill.
  • Ongoing processing at Lakewood with 2,841 ounces of gold recovered.
  • GIB collaborates with BML Ventures, sharing net surplus cash 50/50.
  • Production sold into the spot gold market.
  • First cash proceeds expected by February/March 2026.
  • Challenges with grade control and dilution at Neta due to mineralisation and a pit wall failure.
  • Increased ore tonnage and higher gold prices partly mitigated production challenges.
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.