GBM Resources (GBM) Q2 2025 TU earnings summary

Executive summary

• Advanced exploration and resource expansion activities at Yandan and Twin Hills, with a focus on identifying new high-grade gold targets and feeder zones.

• Shareholders approved a $12 million farm-in deal for Twin Hills with Wise Walkers, reducing company expenditure and providing a cash injection.

• Mt Coolon project farm-in with Newmont progressed, with minimum expenditure commitment met and significant drilling completed.

• White Dam gold sales generated ~$1.9 million in revenue, supporting positive cash flow.

• Cloncurry Copper Gold Project returned to 100% ownership after Nippon Mining withdrawal.

Financial highlights

• Quarterly gold sales of approximately 466 oz at White Dam, generating ~$1.9 million in revenue.

• Net cash from operating activities for the quarter was $730,000, with cash and cash equivalents at period end of $1.29 million.

• Convertible note debt reduced from $10 million to ~$6.1 million.

• Exploration expenditure for the quarter was ~$0.37 million; production expenditure at White Dam was ~$0.5 million.

Outlook and guidance

• Exploration ramp-up planned for 2025 at Yandan and Twin Hills, with drilling to commence in Q1 and Q2.

• Anticipated continued positive cash flow from White Dam gold production and potential asset sales.

• Twin Hills farm-in expected to reduce company costs and expedite project development.