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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.034 -0.016 (-32%)+
Announcement
Release
30 Jan 2026 2:58PM
Price at Release
$0.050
Full Release
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Summary
Gibb River Diamonds Limited presented its quarterly activities report focusing on the Edjudina Gold Project and the Neta Project, where 146,108 tonnes of material were mined. The Neta Project, managed in partnership with BML Ventures Pty Ltd, faced a minor setback due to an in-pit incident, but operations continued. GIB expects initial cash flows from the Neta Project by early 2026, with plans for further exploration drilling funded by mining proceeds. The report also mentions the Ellendale Diamond Project, aiming to resume diamond production. Financial highlights include a decrease in cash holdings and payments to related parties totaling 28,000 AUD for the quarter.
Key Points
  • Gibb River Diamonds Limited (GIB) reported on its quarterly activities, focusing on the Edjudina Gold Project and the Neta Project.
  • The Neta Project is part of GIB's Edjudina Gold Project and includes mining operations handled by BML Ventures Pty Ltd.
  • During the quarter, 146,108 tonnes of treatable material were mined from the Neta Project.
  • Mining operations at the Neta Project were briefly affected by an in-pit incident but resumed after corrective actions.
  • GIB anticipates the first cash proceeds from the Neta Project by February/March 2026.
  • Exploration drilling is planned at the Edjudina site, funded by proceeds from the Neta Project mining.
  • The Ellendale Diamond Project in WA is another focus, with efforts to re-establish diamond production with strategic partners.
  • Financially, GIB reported a decrease in cash equivalents from 415,000 AUD to 270,000 AUD during the quarter.
  • Payments to related parties during the quarter amounted to 28,000 AUD, primarily for salaries and consulting fees.
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.