GIB Targets August 2025 Mining Start with 24,000 oz Gold Resource at Neta
Gibb River Diamonds advances key permits for its Edjudina Gold Project, aiming to begin mining at the Neta Prospect by August 2025 with minimal financial risk.
- Mining Proposal permit lodged and under assessment by WA Mines Department
- Native Vegetation Clearing Permit pending to support expanded mining activities
- Licence To Take Water granted, securing essential water use until 2035
- Mining to be conducted by BML Ventures with no capital cost to GIB
- Ore processing planned via existing or new milling contracts; production sold on spot market
Permitting Progress at Neta Prospect
Gibb River Diamonds Limited (ASX, GIB) has provided a detailed update on the permitting status of its Edjudina Gold Project in Western Australia, focusing on the Neta Prospect. The company has lodged its principal Mining Proposal permit with the WA Department of Mines, Industry Regulation and Safety (DEMIRS) in late March 2025, which is currently under assessment. GIB has responded to requests for further information, signaling active engagement with regulators.
Alongside this, a Native Vegetation Clearing Permit application is pending, which will allow for expanded clearing around the mining site to facilitate ongoing operations. This step is crucial for the project’s progression beyond initial mining phases.
Operational and Environmental Approvals Secured
In a positive development, the Department of Water and Environmental Regulation (DWER) has issued a Licence To Take Water valid until 2035. This licence covers water usage for essential mining activities such as camp operations, dust suppression, and pit de-watering, ensuring that water resource management is in place well ahead of mining commencement.
Mining and Processing Arrangements
The mining operation itself will be carried out by private contractor BML Ventures Pty Ltd, who will assume all capital and operating costs. This arrangement effectively shields GIB from upfront financial exposure, with profits to be shared equally after costs are recouped. The ore processing strategy is to utilise existing milling capacity under BML’s contracts, although new milling agreements remain a possibility depending on operational circumstances.
Importantly, no forward sales contracts have been locked in, meaning all gold production will be sold on the spot market, exposing GIB to prevailing gold prices but also allowing flexibility in sales timing.
Resource and Regional Context
The Neta Prospect holds a JORC-compliant resource of 378,000 tonnes at 1.9 grams per tonne gold, equating to approximately 24,000 ounces of gold, including an indicated resource of 110,000 tonnes at 2.2 grams per tonne. Located 145km northeast of Kalgoorlie, the Edjudina Project sits in a prolific gold region with multiple nearby processing mills accessible by road, enhancing logistical feasibility.
GIB’s cautious optimism for an August 2025 mining start hinges on the timely granting of permits and operational decisions by BML. The partnership model with BML, which carries mining risk and capital costs, positions GIB to benefit from production upside while limiting financial risk.
Bottom Line?
With permits nearing approval and a risk-mitigated mining partner in place, Gibb River Diamonds is poised to unlock value at Edjudina; pending final regulatory green lights.
Questions in the middle?
- When exactly will the Mining Proposal permit be granted, and could delays impact the August start?
- Will BML Ventures commit to mining at Neta immediately upon permit approval or delay based on market conditions?
- What are the prospects for securing additional milling contracts if existing capacity is insufficient?
