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GBM RESOURCES LIMITED. — M&A Activity 2019
Dec 19, 2019
64966_rns_2019-12-19_6bd88a5d-4a9b-4565-b353-55a235307519.pdf
M&A Activity
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ABN 91 124 752 745
20 December 2019
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ASX Code: GBZ
GBM COMPLETES THE ACQUISITION OF MILLSTREAM RESOURCES PTY LTD
GBM Resources Limited (ASX: GBZ ) (“ GBM ” or “ the Company ”) is pleased to announce that all the conditions precedent have been satisfied with Stibium Mining Pty Limited ( Stibium ) and GBM has now completed the acquisition of Millstream Resources Pty Ltd ( Millstream ) (refer ASX announcements 13 November 2019 and 10 December 2019) .
The Company signed a Heads of Agreement with Stibium to acquire its subsidiary Millstream Resources Pty Ltd (Millstream) for consideration of 15 million fully paid shares (Shares) (on a post-consolidation basis) in the capital of GBM Resources Ltd. (refer ASX announcement 16 October 2019).
Millstream Resources Pty Ltd can initially earn a 50% interest in the White Dam Gold Project as part of an unincorporated joint venture ( Joint Venture ).
The acquisition of Millstream has the potential to support the Company’s working capital requirements and ongoing development of the Mt Coolon Gold Project.
GBM is looking forward to working with Round Oak Minerals on the White Dam Project.
GBM is progressing the finalisation of design works for the SART plant and looking forward to commencing construction early in the New Year.
This ASX announcement was approved and authorised for release by Mr Peter Rohner, Managing Director GBM Resources Limited.
COMPANY DIRECTORS
Peter Mullens Executive Chairman
Peter Rohner Managing Director
Peter Thompson Executive Director
Sunny Loh
Non- Executive Deputy Chairman
Neil Norris Executive Director
CONTACT DETAILS
Principal & Registered Office Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153
Website www.gbmr.com.au
Email [email protected]
Phone +61 (8) 9316 9100
Fax +61 (8) 9315 5475
Phone (Exploration Office) +61 (3) 5470 5033
Investor enquiries: Peter Rohner Managing Director GBM Resources Limited +61 8 9316 9100
Media enquiries: Michael Vaughan Fivemark Partners +61 422 602 720 [email protected]
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