Great Divide Mining Secures $250K JV Funding, Targets First Gold Pour
Great Divide Mining has taken a decisive step towards becoming a near-term gold producer through a new joint venture with Dart Mining and securing a Queensland government grant for exploration.
- Joint venture with Dart Mining injects $250,000 and funds 4,000m drilling at Coonambula
- Challenger Gold Mine recommissioned, aiming for first gold pour
- Queensland CEI grant of $181,577 awarded for Banshee geophysical survey
- Bougainville Mineral Investments establishes community HQ, enhancing ESG credentials
- Company remains fully funded with no changes to capital structure or board
Strategic Joint Venture Unlocks Value
Great Divide Mining Ltd (ASX, GDM) has marked a pivotal quarter with the execution of a joint venture agreement with Dart Mining over its flagship Coonambula Antimony-Gold Project. This partnership brings in $250,000 in cash and commits Dart Mining to fund an extensive 4,000-metre exploration drilling program. The arrangement allows Dart Mining to earn a 51% equity stake, effectively accelerating exploration efforts without diluting Great Divide’s shareholders.
This JV not only provides immediate capital but also leverages Dart Mining’s operational expertise, positioning the project for rapid advancement. The move signals Great Divide’s strategic shift from pure exploration towards near-term production and cash flow generation.
Challenger Gold Mine Nears Production Milestone
Meanwhile, the recommissioning of the Challenger Gold Mine in New South Wales has been completed, with operations now underway to achieve the first gold pour. This milestone is critical as it represents Great Divide’s transition from developer to producer, a transformation that could materially enhance the company’s valuation and market profile.
Operational reviews and maintenance of key infrastructure such as mills and gravity recovery circuits have been successfully conducted, with plant optimisation and planning for continuous operation underway. The company’s focus on safety and environmental compliance further underscores its commitment to responsible mining practices.
Government Support and Exploration Advances
Adding to the momentum, Great Divide secured a $181,577 grant from the Queensland Government’s Competitive Exploration Initiative (CEI) to fund a geophysical survey at the Banshee Antimony Prospect. This survey, scheduled to commence in the next financial year, aims to define high-impact drill targets and enhance the understanding of the project’s mineral potential.
Exploration activities also included detailed LIDAR surveys at the Devils Mountain and Kilkivan prospects, identifying numerous historical workings that will guide future sampling and ground truthing efforts. These initiatives reflect a disciplined and data-driven approach to unlocking value across Great Divide’s portfolio.
ESG Credentials Strengthened in Bougainville
On the corporate and social responsibility front, Great Divide’s partnership with Bougainville Mineral Investments (BMI) continues to deepen. BMI has established a community headquarters in Iokomori Village, reinforcing the company’s ESG-aligned resource development strategy in the Pacific region. This engagement not only supports local communities but also enhances Great Divide’s reputation as a responsible operator.
Throughout the quarter, the company maintained a stable capital structure with no changes to its board or shareholdings, and remains fully funded for its planned work programs. Related party transactions were disclosed transparently, with arrangements conducted on arm’s length terms.
Looking Ahead
As Great Divide advances towards its first gold pour and expands exploration through strategic partnerships and government support, the company is positioning itself for sustained growth in FY26 and beyond. Investors will be watching closely for drilling results from the Dart Mining JV and the outcomes of the Banshee geophysical survey, which could unlock further value in the company’s diverse tenement portfolio.
Bottom Line?
Great Divide Mining’s transition to production and strategic partnerships set the stage for a transformative year ahead.
Questions in the middle?
- When will Great Divide confirm the volume and grade of gold from the first pour at Challenger?
- What early results can be expected from Dart Mining’s 4,000m drilling program at Coonambula?
- How will the government-backed geophysical survey at Banshee influence future exploration priorities?
