Great Divide Mining shareholders have approved the company’s plans to change the nature of its business by transitioning from gold explorer to producer.
The approval validates Great Divide Mining’s (GDM) proposed farm-in agreement with Adelong Gold and its wholly owned subsidiary Challenger Mines to recommence operations at the Adelong gold mine in New South Wales.
In November 2024, when the farm-in was announced, GDM was appointed manager to operate the Adelong gold mine – now known as the Adelong venture – and its processing plant and associated equipment.
Now, the agreement has been ratified by GDM shareholders at a general meeting held on January 7.
The strong endorsement has potential to pave the way for GDM to sequentially develop the Yellow Jack gold project, the Coonambula gold-antimony project and the Devils Mountains gold project, all located in Queensland.
GDM chief executive officer Justin Haines said the shareholder approval marked a great start to 2025 for the company.
“GDM was formed to develop and acquire a suite of good projects which we can develop into viable mines,” Haines said.
“Today our shareholders have confirmed that the company’s transition to production is the right direction, and a great step forward for the business.”
GDM will now complete the 90-day due diligence period to gain an initial 15 per cent holding in Challenger Mines. It will then increase its ownership to 51 per cent once gold production has commenced at the Adelong processing plant.
While the plant is yet to be recommissioned, GDM expects the testing and commissioning works to start at the plant during the third quarter of the 2024–25 financial year.
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