Great Divide Mining up +8% on deal with Adelong Gold to restart “historic” Adelong mine

The Market Herald11-11

Great Divide Mining (ASX:GDM) has inked a farm-in deal with ASX-listed Adelong Gold (ASX:ADG) to recommence operations at Adelong Gold Mine. Describing that asset as “historic” – a familiar theme for...

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In its heyday, the mine put out 800,000oz of gold. There’s no solid indication the company can replicate that, but, the facts of the past do underscore the geological fertility of the project acreage.As part of the deal, GDM will acquire a 15% stake in Adelong Gold subsidiary Challenger Mines after spending $300K “on-ground.” That ownership will extend to “51% ownership on production of gold from the Adelong Mine process plant,” the company wrote on Monday.For GDM’s part, it now has the benefit of being able to boast it’s transitioned from explorer to producer.Join the discussion: See what HotCopper users are saying about Great Divide Mining and be part of the conversat","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7095":"多种金属与采矿","ADG.AU":"Adelong Gold Limited","GDM.AU":"GREAT DIVIDE MINING LTD"},"translate_title":"Great Divide Mining与Adelong Gold达成协议重启“历史性”Adelong矿，股价上涨+8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADG.AU":1,"GDM.AU":1},"content_text":"Great Divide Mining (ASX:GDM) has inked a farm-in deal with ASX-listed Adelong Gold (ASX:ADG) to recommence operations at Adelong Gold Mine. \nDescribing that asset as “historic” – a familiar theme for regular market watchers sniffing around the junior explorers – GDM will be the manager of a venture between itself and Adelong (the company) at Adelong (the mine.)\nIn its heyday, the mine put out 800,000oz of gold. There’s no solid indication the company can replicate that, but, the facts of the past do underscore the geological fertility of the project acreage.\nAs part of the deal, GDM will acquire a 15% stake in Adelong Gold subsidiary Challenger Mines after spending $300K “on-ground.” That ownership will extend to “51% ownership on production of gold from the Adelong Mine process plant,” the company wrote on Monday. \nFor GDM’s part, it now has the benefit of being able to boast it’s transitioned from explorer to producer. \nIn the background of the relationship between Great Divide and Adelong Gold – a partnership they’re calling the Adelong Venture – sits another 68sq.km. of acreage with partial mining approvals.\n“GDM was formed to rapidly evolve into a cash-flow mining business. This agreement sets us squarely on the path to producing our first gold in the near-term,” GDM CEO Justin Haines said.\n“Working within the Adelong Venture we aim to commence restarting of the existing plant and development of the gold in mine plan this year, then organically expanding the resources and operation.”\nThis, he says, is a transformational time. \nGDM last traded at 26.5%. \nJoin the discussion: See what HotCopper users are saying about Great Divide Mining and be part of the conversations that move the markets.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482475216"}