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ASX:GIB

Gibb River Diamonds

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Market:
ASX
Market Cap:
$10.05 m
Price
0.05 AUD
Change
6.38%
52 weeks high
0.08
52 weeks low
0.02

In brief

Gibb River Diamonds Limited (‘GIB’ or the ‘Company’) operates its 100% owned Blina Alluvial Diamond Project in the Ellendale diamond field of the West Kimberley. The Blina Project is fully permitted, the major processing plant equipment has already been purchased, the project is ‘shovel ready’ and the Company is debt free. Project financing is required to mobilise and commission the plant and equipment, conduct siteworks, install a camp and have enough operational capital to conduct four months of bulk sampling operations including trial mining of the best sampled grades. This capital required is a modest $2.5 million (see 2.0 Budgets and Operations below), some of which could be financed by Federal Government R&D funding. Executive Chairman Jim Richards is seeking to identify a strategic investor to cornerstone this capital raise.