Gibb River Diamonds Limited (ASX: GIB) has released an update on its gold production at the Edjudina Gold Project in Western Australia. Gibb River Diamonds is focused on exploring and developing resource projects. The company, in partnership with BML Ventures Pty Ltd (BML), has achieved a total gold production of 5,267.9 ounces from the Neta Project to date. This figure excludes production from the final processing campaign at Greenfields Mill near Coolgardie, which involved approximately 9,000 dry metric tonnes of lower-grade Neta ore. Processing has been completed on all mined ore from the Neta Project.
The produced gold was sold at an average price of $7,209.60 per ounce, generating total gold sale proceeds of $37,979,719. Accounts and operational costings are being finalised by Gibb River Diamonds and BML, with a significant first cash payment to GIB anticipated during March 2026. The Three Mile Hill processing campaign yielded 1,792.0 ounces of gold from 33,529 dry metric tonnes of blended Neta ore, sold at an average of $7,106.71 per ounce, resulting in $12,735,402 in proceeds. Metallurgical gold recoveries from this campaign were reported at 90.7%.
The Lakewood processing campaign saw 95,256 dry metric tonnes of blended Neta ore processed, resulting in 3,475.9 ounces of gold. This gold was sold at an average price of $7,262.64 per ounce, generating $25,244,316 in total proceeds. Metallurgical gold recoveries from the Lakewood campaign were reported at 88.0%. The final ore stockpiled on the Neta ROM was processed through the Greenfields Mill, with final reconciled gold production numbers to be reported when available.
Following initial joint venture cash distributions to GIB, the company anticipates commencing drilling of highly prospective gold targets at Edjudina. Gibb River Diamonds continues to seek acquisition opportunities, particularly within the Western Australian gold sector. Rehabilitation of the various areas at Neta will be ongoing.
