Great Divide shareholders approve transition to gold producer
Australia's Great Divide Mining has received shareholder approval to transform from an exploration-focused company to a gold producer through its farm-in agreement with fellow-ASX-listed Adelong Gold and its subsidiary Challenger Mines.
The approval marks a step forward in restarting operations at the historic Adelong gold mine, in New South Wales.
CEO Justin Haines said on Tuesday that the shareholder support was an important moment for the company. “What a great start to 2025! Great Divide Mining was formed to develop and acquire a suite of good projects which we can develop into viable mines. Today, our shareholders have confirmed that the company’s transition to production is the right direction, and a great step forward for the business,” Haines said.
Great Divide announced the farm-in agreement on November 11. The agreement allows the company to acquire a 15% stake in Challenger Mines and operate the Adelong gold mine, subject to the successful completion of a 90-day due diligence period initiated in November.
The transition to production positions Great Divide to focus on not only the Adelong mine, but also sequentially develop its other key projects, including Yellow Jack, Coonambula, and Devils Mountains.
Historically the Adelong goldfield has produced about 800 000 oz of gold from within the Challenger’s licenses. Many of the hard rock mines recorded high grades averaging more than one ounce of gold per ton of ore.
Source: https://www.miningweekly.com/