AI assistant
GBM RESOURCES LIMITED. — Capital/Financing Update 2018
Apr 2, 2018
64966_rns_2018-04-02_ea727a50-3dc7-4cfe-ad3f-e62c0b748b1e.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [154 x 74] intentionally omitted <==
ABN 91 124 752 745
ASX Release 3 April 2018
Progress Update on Twin Hills Gold Project Acquisition and Ore Purchase Agreement with Minjar Gold
GBM Resources Limited (ASX: GBZ) ( GBM or the Company ) advises on the status of the Twin Hills Gold Project Acquisition and Ore Purchase Agreement with Minjar Gold Pty Ltd ( Minjar ).
1. Acquisition of the Twin Hills Gold Project
GBM signed a Heads of Agreement with Minjar on 22 December 2017 to acquire a 100% interest in the Twin Hills Gold Project (refer GBM ASX releases dated 22 December 2017 and 28 February 2018).
GBM has now completed its due diligence review. Finalising the terms and execution of a Sale and Purchase Agreement is expected to occur in April.
2. Ore Purchase Agreement
GBM signed a non-binding term sheet with Minjar on 19 December 2017 under which the parties envisage Mt Coolon ore mined by GBM being trucked to the Pajingo Gold Operations for processing by Minjar (refer GBM ASX releases dated 19 December 2017 and 28 February 2018).
A binding Ore Purchase Agreement is expected to be executed concurrently with the Twin Hills Sale and Purchase Agreement.
Investor enquiries: Media enquiries: Peter Thompson Michael Vaughan Managing Director Fivemark Partners GBM Resources Limited +61 422 602 720 +61 8 9316 9100 [email protected]
ASX Code: GBZ
COMPANY DIRECTORS
Peter Thompson Managing Director/ Executive Chairman
Neil Norris Exploration Director – Executive Hun Seng Tan Non- Executive Director
CONTACT DETAILS
Principal & Registered Office Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153
Exploration Office 10 Parker Street, Castlemaine, Victoria 3450
Website
Email [email protected] Phone +61 (8) 9316 9100
Fax +61 (8) 9315 5475
Phone (Exploration Office) +61 (3) 5470 5033
==> picture [52 x 52] intentionally omitted <==
Minjar Gold Pty Ltd is a mid–tier gold company producing 230,000 ounces annually from its Golden Dragon, Pajingo and Southern Cross Operations. Minjar is a wholly owned subsidiary of Shandong Tyan Home Co Ltd, a listed company on the Shanghai Stock Exchange.
1