Latest Drummond Basin News

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.

GBM Resources reports promising gold anomalism from Newmont’s initial 5,499m air core drilling at the Mt Coolon Project, advancing a key farm-in milestone and setting the stage for expanded exploration in 2025.

GBM Resources has engaged renowned geophysicist David McInnes to reprocess historic data and identify new gold targets, aiming to expand its 1.84 million ounce resource base in Queensland's Drummond Basin.

Ausmon Resources Limited reports steady progress in rare earth and base metals exploration across Australia, with key drilling programs planned for 2025 despite a tight cash position.

GBM Resources reports robust progress in its Queensland and South Australian gold projects, highlighted by a $12 million farm-in deal at Twin Hills and positive cash flow from White Dam. Exploration strategies and corporate restructuring set the stage for a pivotal 2025.

QX Resources has renegotiated its lithium brine project options in the US to reduce upfront costs while expanding its footprint, alongside progressing promising gold exploration in Queensland. The company ends the quarter with a modest cash position, underscoring the need for careful capital management.

Trigg Minerals reports a 92% increase in its Wild Cattle Creek antimony resource and expands its NSW footprint with key tenement acquisitions, positioning itself strongly in the critical minerals sector.