Commenting on Great Divide Mining Ltd.’s (ASX:GDM) imminent commencement of production at the Challenger Mine in Adelong, NSW, CEO Justin Haines said ,”It’s all about delivering the best value to our shareholders. It’s all about operating a financially balanced business.”
GDM is on track to bring the historically significant gold mining district around Adelong, NSW back to life after 100+ years.
“Records show that mining ceased in the district in 1915, right about the time for the First World War, when its likely labour supply became tight,” says Haines. “It’s important to keep in mind that all of these historical workings were dug by hand. Steam and water-power were employed for the processing.”
“For GDM … Well it’s in our name. It’s why we listed,” he said, “Great Divide Mining. We didn’t call the company Great Divide Exploration. It’s always been about Mining. It’s always been about delivering positive cashflows.”
“There are plenty of high-quality explorers,” he said ,”GDM’s point of difference is we’ll be writing invoices for gold produced.”
“Sure we’ll always have exploration in our DNA,” he said, “with our partners we’ll commence drilling 4,000 m at our Coonambula project site shortly, but it’s mining, it’s production that deliver’s revenues that pay the bills.”
“With sustainable cash flow positive operations, the company has significantly less need to continually rely on Shareholder funds, as is the norm with pure exploration ventures.”
“And let’s please remember, if we achieve our first gold pour in the next couple of months, we will have kept our commitment to our shareholders – from pure Explorer to Explorer & Producer – all in under 2 years from listing on the ASX in Aug of 2023.
“At the end of the day it’s about balance. Balancing the right combination of production with exploration to deliver to shareholders the maximum value for their investment,” said Haines.
“I just can’t wait for that first gold pour!” smiles Haines.
ENDS
For further information:
Justin Haines, CEO
e justin.haines@greatdividemining.com.au
m +61 (0)418 876 420
Great Divide Mining Ltd (ASX: GDM)
Great Divide Mining is a Gold, Antimony and critical metals explorer in Queensland, with four projects across twelve tenements (including one in application). GDM’s focus is on developing assets within areas of historical mining and past exploration with nearby infrastructure, thus enabling rapid development. Through a staged exploration and development programme, GDM intends to generate cash flow from its initial projects to support further exploration across its portfolio of highly prospective tenements.
https://greatdividemining.com.au/
