GBM Secures $3.2 million Deal, Shifts Focus to Gold Growth

At the time of writing, GBM Resources Limited (ASX: GBZ) has completed Tranche 1 of its asset sale to Lithium Energy Limited (ASX: LEL) for the Mt Morgan Gold-Copper Project. GBM received $400,000, forming part of a potential $3.2 million in proceeds—including ~$2 million in cash payments and up to ~$1.2 million in milestone-linked payments. The deal includes a 1.33% Net Smelter Return (NSR) royalty and a buyback option. Completion of Tranche 2 within 21 months will deliver an additional $1 million. GBM retains upside exposure through deferred payments and royalty rights, while divesting a non-core asset to refocus on its Drummond Basin gold portfolio, which hosts a JORC resource of ~1.84 million oz. Executive Director Andrew Krelle said the deal strengthens GBM’s balance sheet and supports its mid-tier gold company ambitions.

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