Latest Drummond Basin News

American Tungsten & Antimony Ltd plans to unlock value by spinning out its Drummond Basin and NSW gold exploration assets into a new ASX-listed company, King Metals Limited, aiming to raise up to $6 million in an IPO.

GBM Resources has reported significant new gold assay results from its Lone Sister deposit, revealing high-grade mineralisation beyond the current resource estimate and identifying a previously unknown east-west gold-bearing structure.

GBM Resources has launched a major drilling campaign at its Twin Hills gold project and raised A$40 million to fund exploration and development across its Drummond Basin portfolio.

QX Resources has confirmed promising historical uranium grades at its Madaba Project in Tanzania and progressed gold exploration in Queensland, while securing a strategic farm-out for its Pilbara iron ore rights.

GBM Resources has raised nearly A$40 million through a major institutional placement led by its largest shareholder, Wise Walkers Limited, to fund exploration and development in Queensland’s Drummond Basin gold projects.

GBM Resources has regained 100% ownership of the Mt Coolon Gold Project after Newmont's exit, consolidating its position in Queensland's Drummond Basin with a substantial gold resource and promising exploration targets.

GBM Resources has raised $13 million through a two-tranche placement, repaid $6.2 million in convertible debt, and completed a significant board restructure to accelerate exploration at its Drummond Basin gold projects.

QX Resources reported steady progress in its Queensland gold projects and secured a strategic farm-out for its Pilbara iron ore rights, while stepping back from US lithium ventures amid market softness.

GBM Resources has received the initial $400,000 payment from Lithium Energy as part of a staged $3.2 million sale of its Mt Morgan Gold-Copper Project, marking a key step in its strategic asset divestment.

GBM Resources secures $13 million through a strategic placement, repays $6.2 million in debt, and restructures its board to accelerate exploration in the Drummond Basin. The company also regains full ownership of the Twin Hills gold asset, positioning itself for growth.

QX Resources reported steady progress on its Queensland gold and US lithium brine projects while managing modest cash reserves and exploration expenditure in the March 2025 quarter.

GBM Resources Limited reports significant progress in its exploration programs and asset sales for Q1 2025, including a key Mt Morgan divestment and ongoing farm-in developments at Mt Coolon.