Chairing the first Annual General Meeting after completing its’ first full year of operation since listing on the ASX Aug 25th, 2023, Great Divide Mining’s Chairman Paul Ryan said he was more than proud of the Team’s achievements (ASX:GDM).
“We had a really challenging start to our maiden year with significant and above average rains throughout the field season limiting some site access” said Ryan, “ but still the Team managed to perform to the max across all four of our projects and indeed are looking to add a fifth,” he said.
GDM’s recent signing of a binding, farm-in agreement for the Adelong mine site (ASX:ADG) will see GDM evolve from pure explorer to explorer-producer in under 2 years.
“Our goal at GDM has always been to be a miner and producer,” said Ryan, “It’s in our company name – Great Divide Mining.”
“We like to be involved in companies that actually write invoices,” he quipped.
“Our strategy of a hard-nosed focus on historic sites where we know gold has been previously mined has worked and is continuing to deliver positive outcomes,” he said “Where gold is found together with other associated minerals, the company has the potential to enjoy a double bottom line, most especially in cases like our Coonambula project, with its’ historic Antimony (Sb) workings and surface grades up to 44.9% Sb.
“So our Coonambula Gold project is now being considered a Gold-Antimony, or Antimony- Gold project. I’m sure we’re all aware of the price of Antimony these days, a spot price currently around US $25,000 /T” he said.
“So not only do we like to issue invoices at GDM, but we also say:- Dig Once .. Invoice Twice!” he said.
Asked if the company would need to raise additional capital, Ryan responded, “No not in the short term. The Team have achieved a great year of positive outcomes and the company continues to hold comfortable cash reserves.”
“I’m really looking forward to our next AGM,” said Ryan.
Great Divide Mining (ASX:GDM)
GDM listed on the ASX on 25th August 2023. It operates four gold and base metal projects cross 12 granted Queensland tenements. It’s commercial model focusses on historically significant workings, leveraging brownfield permitting opportunities, utilising details of these workings, targeted in-fill drilling programs and the application of modern exploration and mining technologies. Recommissioning of previously mined sites delivers significant reduction in exploration risk and ensures the company minimises its environmental impacts.
Its core values are to responsibly transition exploration projects to positive cash flow in efficient time frames.
https://greatdividemining.com.au/
Contact
Justin Haines
CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
