Gibb River Diamonds has commenced mining at its Neta Gold Prospect in WA, with ore processing agreements in place and first cashflow anticipated by early 2026. The company also outlines ambitious exploration plans for its broader portfolio.
- Mining started at Neta Gold Prospect in September 2025
- Ore Purchase Agreement signed with Black Cat Syndicate for processing 100,000 tonnes
- Milling expected to begin late December 2025 and complete mid-January 2026
- First cash proceeds anticipated in February/March 2026
- Exploration drilling planned for 2026 on multiple granted leases
Mining Commences at Neta Gold Prospect
Gibb River Diamonds Limited (ASX – GIB) has officially begun mining operations at its Neta Gold Prospect, located in the Eastern Goldfields of Western Australia. The company announced that mining started in September 2025, marking a significant milestone in its strategy to unlock value from its Edjudina Gold Project.
The Neta Prospect is being mined under a joint venture arrangement with BMLV, with profits shared equally. This partnership aims to leverage combined expertise and resources to optimise extraction and processing efficiencies.
Ore Processing and Cashflow Timeline
In a key development, GIB has entered into an Ore Purchase Agreement with Black Cat Syndicate Limited (ASX – BC8) to process 100,000 tonnes of Neta ore at Black Cat’s Lakewood Mill near Kalgoorlie. This agreement is pivotal, as it secures a processing pathway for the mined ore, which is critical for timely revenue generation.
As of early November 2025, approximately 74,000 tonnes of high-grade ore have been stockpiled on the Run-Of-Mine (ROM) pad at Neta. Milling is anticipated to commence in late December 2025 and conclude by mid-January 2026 for the first parcel of ore. GIB expects to receive its first cash proceeds from this operation in February or March 2026, providing a near-term catalyst for the company’s financials.
Exploration and Growth Prospects
Looking beyond immediate production, Gibb River Diamonds has outlined a robust exploration agenda for 2026. The company plans to conduct drilling on granted mining leases, including M31/481, a highly prospective area with extensive historic workings. These efforts are funded by the proceeds from the Neta mining operation, underscoring a self-sustaining growth model.
Further exploration is planned on other tenements within the Edjudina Project, as well as continued development of the Ellendale Diamond Project in the Kimberley region. The Ellendale project, known for its unique fancy yellow diamonds, is progressing through heritage surveys and is seeking funding or strategic partners to advance mining and branding initiatives.
Corporate Governance and Resource Confidence
GIB’s leadership, headed by Executive Chairman Jim Richards, brings decades of mining and exploration experience, lending credibility to the company’s operational plans. The Neta Gold Prospect resource estimates are supported by JORC-compliant data, with Mr Richards personally endorsing the technical information as a Competent Person.
The company’s market capitalisation stands at approximately $12.2 million with over 214 million shares on issue. Cash on hand was reported at $415,000 as of 30 September 2025, highlighting the importance of imminent cashflow from mining activities.
Bottom Line?
As Gibb River Diamonds moves from mining to milling and cashflow, all eyes will be on operational execution and exploration results to sustain momentum.
Questions in the middle?
- Will milling and processing timelines hold to schedule amid operational risks?
- How will exploration drilling results impact resource upgrades and valuation?
- What funding or partnerships will emerge to advance the Ellendale Diamond Project?