GBM Resources Limited
GBZ.AX
Australian Securities Exchange0.03
AUD
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GBM Resources Limited
GBZ.AX
(Australian Securities Exchange)
Recent
price
0.03
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- GBM Resources Limited (ASX:GBZ) is an Australian mineral exploration and development company focused on gold and copper deposits in Eastern Australia. The company operates through two segments, mineral exploration and resource development, and mineral production; its flagship assets in the Drummond Basin of Queensland include the Mt Coolon Gold Project (2,613 square kilometers with a JORC-compliant resource of 330,000 ounces gold), Yandan Gold Project (952 square kilometers), and Twin Hills Gold Project (1,102 square kilometers, contributing to ~1.84 million ounces JORC gold resources across the basin); additional projects encompass the Mt Morgan Gold-Copper Project (1,017 square kilometers), tenements in the Mt Isa Inlier, and the White Dam Gold-Copper Project (489 square kilometers) in South Australia, with divestment of non-core assets in progress. GBM Resources targets district-scale mineral systems in premier metallogenic terrains, serving investors and the mining industry through resource delineation and potential production. Founded in 2007 and headquartered in Milton, Queensland, the company conducts all operations within Australia. In September 2025, GBM Resources regained 100% ownership of the Mt Coolon Gold Project following Newmont's withdrawal from a prior A$25 million farm-in joint venture, strengthening its Drummond Basin landholdings and enabling integration of joint venture exploration data for updated geological models and accelerated drilling. In October 2025, the company completed an institutional placement raising A$39.85 million, led by major shareholder Wise Walkers Limited, to fund advanced exploration and development of Drummond Basin assets, enhance its balance sheet, and diversify its shareholder base. These moves support GBM Resources' strategy to expand its gold portfolio toward mid-tier producer status, including ongoing drill testing of epithermal gold systems and resource upgrades at key deposits.