Gem Diamonds paid $300M for the mine in 2007.
Kimberley bought it for $15M in 2013 BUT I'm pretty sure that came with liabilities including multi-million dollar environmental bonds.
These financial liabilities have been absolved by the WA government, effectively GIB has a clean slate from which to work towards a Mining License.
The $2.5M required to commence Trial Mining on Gib's neighbouring Blina Diamond Project will no longer present a problem imo. If it is through dilution keep in mind the last placement was @ 9c before Ron Brierley dropped a 14M share anvil onto the stock.
Be nice to raise above 10c - unless of course a cornerstone investor is introduced onto the register.
Otherwise maybe a JV?
Going to be an exciting start to the NY for shareholders.
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Gem Diamonds paid $300M for the mine in 2007.Kimberley bought it...
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.653M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 80000 | 2.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.1¢ | 227188 | 2 |
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| Last trade - 16.12pm 26/04/2024 (20 minute delay) ? |
| GIB (ASX) Chart |
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