Mining Commences at Edjudina Gold Project

Gibb River Diamonds Limited (ASX: GIB) has commenced mining operations at its Edjudina Gold Project in Western Australia’s Eastern Goldfields. The Neta deposit is being mined by BML Ventures Pty Ltd under a contract mining agreement, with BML covering all capital and operating costs, leaving Gibb River with minimal financial risk. BML will manage the full mining process, including delivery of ore to nearby toll treatment plants under existing milling agreements.

The company has a strong record of optimizing small to medium-scale projects in partnership with ASX-listed miners. Cashflow from operations will first reimburse project expenses, after which net surplus proceeds will be split evenly between Gibb River and BML. Notably, all gold production will be sold on the spot market with no forward sales in place. The Neta deposit hosts a total resource of 378,000 tonnes at an average grade of 1.9 g/t gold, containing approximately 24,000 ounces. Within this, the indicated category accounts for 110,000 tonnes grading 2.2 g/t, equating to about 8,000 ounces of gold.

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