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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.036 -0.017 (-32.08%)+
Announcement
Release
17 Mar 2026 9:47AM
Price at Release
$0.053
Full Release
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Summary
Gibb River Diamonds Limited (GIB) has received a $7 million payment from its mining partner BML Ventures Pty Ltd, representing GIB's 50% share of profits from the Neta mining joint venture. The company plans to begin a 2,000 metre aircore drilling program at its Edjudina Gold Project in early April 2026, targeting gold on the M31/481 Mining Lease, which GIB fully owns. Additional cash distribution is expected once remaining joint venture costs are settled.
Key Points
  • Gibb River Diamonds Limited (GIB) announced a $7,000,000 payment from mining partner BML Ventures Pty Ltd.
  • This payment represents GIB's 50% share of joint venture profits from the Neta mining project.
  • An initial 2,000 metre aircore drilling program at the Edjudina Gold Project will commence in early April 2026.
  • The drilling at Edjudina will target prospective gold areas on Mining Lease M31/481.
  • The Mining Lease M31/481 was acquired by GIB in September 2024 and is 100% held by GIB.
  • Further cash distribution to GIB is anticipated once remaining costs are settled.
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.