GBM Resources Limited (AU:GBZ) has released an update.
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GBM Resources Limited has entered into a $12 million Farm-in Agreement with Wise Walkers Limited for the Twin Hills Gold Project, allowing Wise Walkers to earn a 70% joint venture interest by funding $6 million in exploration over 18 months. This agreement provides GBM with an immediate $6 million cash injection, helping to reduce debt and focus on advancing their Yandan Gold Project, while retaining a 30% interest in Twin Hills. The collaboration with Wise Walkers is aimed at expediting the development of Twin Hills and enhancing shareholder value.
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