USD $4,136.96
Goldman Gold production and sales surge in December quarter
GBM Resources Limited (ASX:GBM), has reported a substantial increase in gold production and sales at its White Dam Gold Project in South Australia for the December 2024 quarter.
Key highlights include:
- Shipment of approximately 500 ounces of gold to date in the quarter, valued at approximately A$2 million.
- Higher production attributed to new heap leach material under irrigation and mineralised material recovered from the gold room and elution circuits.
- Fine carbon stocks containing gold are being prepared for assay and sale in the coming months, which could further boost production figures.
- Increased production is expected to bolster the company’s working capital position heading into 2025.
White Dam Sales Performance
Gold shipments for the quarter included:
- 14 October 2024: 40.4 ounces, generating A$160,000 at A$3,941.81/oz.
- 13 November 2024: 97 ounces, generating A$388,000 at A$3,995.05/oz.
- 27 November 2024 (expected): 330-400 ounces, forecast to generate A$1.3 to A$1.6 million (payment expected on 28 November, subject to gold price).
Project Sale Update
GBM confirmed ongoing discussions on the sale of the White Dam Gold Project. Olary and its funding parties continue to work towards securing minimum funding under the term sheet announced on 8 July 2024. GBM is also engaging with other interested parties amid a favourable gold price environment.
