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Gibb River Diamonds Limited (ASX:GIB)

ALERT: Price-sensitive ASX Announcement for GIB
Current share price for GIB : $0.025 -0.01 (-28.57%)+
Announcement
Release
31 Jul 2026 9:20AM
Price at Release
$0.035
Full Release
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Summary
Gibb River Diamonds Limited released its quarterly activities and cash flow report, highlighting significant achievements and ongoing projects. The company concluded the Neta mining project with a total gold production of 5,511.3 ounces from multiple milling campaigns, and conducted exploration drilling at the Edjudina Gold Project. Rehabilitation works at Neta Mine and consolidation efforts at the Ellendale Diamond Project were also reported. Financially, Gibb River Diamonds Limited ended the quarter with strong cash reserves of $6.74 million, despite a net operating cash outflow of $1.015 million. The company is looking to leverage its financial position for potential acquisitions in the gold sector.
Key Points
  • Gibb River Diamonds Limited reported on the Edjudina Gold Project and the conclusion of the Neta mining project.
  • The final milling campaign of Neta Mine at Greenfields Mill processed 9,074 dry metric tonnes of ore with a reconciled gold production of 243.4 ounces.
  • A total joint venture gold production from the Neta mining campaign reached 5,511.3 ounces.
  • Exploration drilling at Edjudina Gold Project on mining lease M31/481 included two aircore drilling programs, with results pending for the second phase.
  • Significant rehabilitation efforts were made at the Neta Mine site, including infrastructure removal and site contouring.
  • Gibb River Diamonds is consolidating holdings in the Ellendale Diamond Project due to a downturn in the diamond market.
  • The company maintains a strong cash position and is exploring new acquisition opportunities in the West Australian gold sector.
  • The cash flow report shows net cash used in operating activities amounted to $1,015,000, with cash and cash equivalents at the end of the period totaling $6,740,000.
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.