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2026-11-06
◂ Monitor GBM ASX

GBM Resources Limited

Resource Stage · Gold · AU Rating locked: sign in to view v8.1 · gbm-20261031t153944-full
Last 2026-11-06
A$0.017
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$83.4M
EV
A$61M
Cash
A$23.3M
Debt
A$0

Funding, performance and ownership

Financials & Capital

As of 2026-09-30
Cash A$23.3M Finite
Debt A$0 Net cash A$23.3M
Basic shares 4.9B 2026-06-30
Runway 2.9 quarters Cash of A$23.3m at 30 Sep 2026 divided by the quarter outflow for operations and exploration (A$8.1m in the Sept quarter, Appendix 5B item 8.3); no unused facilities and no committed funding after 30 Sep 2026 (Sept quarter p.21).

Liquidity

Financial position

Cash of A$23.3m and no debt at 30 September 2026; about 2.9 quarters at the September run rate before new equity. Bonds and security deposits of A$12.0m (30 June 2026) back rehabilitation provisions of A$11.8m. The company funds drilling and corporate costs from equity; no facility is in place.

Capital structure

Ownership and dilution

Ordinary shares
4.9B
Fully diluted
5.3B

Shares rose from 1,415,861,110 (30 June 2025) to 4,908,399,700 (30 June 2026) after the June 2025 A$13.0m placement at A$0.006, the October 2025 A$39.85m placement at A$0.053 (600m shares in Oct 2025, 151.9m to Wise Walkers completed by March 2026), the CSAM note repayment in shares (179,941,667) and option and performance right conversions (305,468,356 in FY2026). No shares were issued from options between 30 June and the report date (AR p.13).

Security classes8
ClassTypeQuantityStrikeExpiry
Fully paid ordinary shares (ASX: GBM)Ordinary Share4.9B——
Unlisted options at $0.069 expiring 1 Dec 2026Option8MA$0.0692026-12-01
Unlisted options at $0.061 expiring 19 Feb 2027Option4.2MA$0.0612027-02-19
Unlisted options at $0.01 expiring 30 Jun 2028Option91.7MA$0.012028-06-30
Unlisted options at $0.015 expiring 30 Jun 2028Option91.7MA$0.0152028-06-30
Unlisted options at $0.02 expiring 30 Jun 2028Option91.7MA$0.022028-06-30
Unlisted options at $0.009 expiring 30 Jun 2028Option100MA$0.0092028-06-30
Unlisted options at $0.03 expiring 11 Aug 2028Option50MA$0.032028-08-11

Capital history

Capital events

4 events · newest first
DateEventAmountSharesPriceStatusTerms
2025-10-16Ann. 2025-10-09RaisingA$31.8M600M—Completed—
2026-03-04Ann. 2025-10-09RaisingA$8.1M151.9M—Completed—
2025-06-27Ann. 2025-06-24RaisingA$13M——Completed—
2025-06-27Ann. 2025-06-24DebtA$6.2M179.9M—Completed—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Complete As Disclosed · as of 2026-10-31

Royalties, JV and disposal terms in the FY2026 report notes (AR p.56, p.70) and the FY2025 report farm-in history (AR25 p.3, p.7-8); terms of the Cloncurry and White Dam sales are as summarised in the report.

2.5% net smelter royalty payable to Franco Nevada over part of the Twin Hills tenement area (AR p.70 footnote *2).

Royalty · Active
Counterparties
Franco Nevada
Applies to
Twin Hills Gold Project (309 and Lone Sister) · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Net smelter royalty: 2.5 pct
How it affects our valuation

No valuation treatment is available for this arrangement.

1.5% net smelter royalty payable to Aeris Resources on the Yandan tenements, capped at 300,000 oz Au equivalent (AR p.70 footnote *3).

Royalty · Active
Counterparties
Aeris Resources
Applies to
Yandan Gold Project (East Hill, Yandan South, Illamahta) · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Net smelter royalty: 1.5 pct
How it affects our valuation

No valuation treatment is available for this arrangement.

1% smelter royalty payable to Rio Tinto over about 16 km2 of the former Monera tenement (AR p.70 footnote *1).

Royalty · Active
Counterparties
Rio Tinto
Applies to
Mt Coolon Gold Project (Koala, Glen Eva, Eugenia) · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Smelter royalty: 1 pct
How it affects our valuation

No valuation treatment is available for this arrangement.

Sale of the Mt Morgan tenements to Lithium Energy in July 2025: GBM kept a 49% joint interest, receives staged cash and milestone payments, and a 1.33% NSR (AR p.56).

Joint Venture · Active
Counterparties
Lithium Energy Limited · LE Minerals Pty Ltd · Mt Morgan Pty Ltd
Applies to
Company-wide · Gold · Copper
Economic direction
Mixed
Period
From 2025-07-01; no end date stated
Key terms
Retained interest: 49 pct
Committed exploration funding by buyer: 4,000,000 AUD
Deferred cash consideration: 1,961,675 AUD
Contingent consideration: 1,666,665 AUD
How it affects our valuation

No valuation treatment is available for this arrangement.

1.33% net smelter return royalty granted to GBM on the Mt Morgan tenements sold to Lithium Energy (AR p.56).

Royalty · Active
Counterparties
Lithium Energy Limited
Applies to
Company-wide · Gold · Copper
Economic direction
Benefit
Period
From 2025-07-01; no end date stated
Key terms
NSR royalty receivable: 1.33 pct
How it affects our valuation

No valuation treatment is available for this arrangement.

Sale of Cloncurry project to a subsidiary of Evolution Mining for A$500,000 cash and a royalty of up to 2% NSR (AR p.11).

Royalty · Active
Counterparties
Evolution Mining Limited
Applies to
Company-wide · Gold
Economic direction
Benefit
Period
Dates not stated
Key terms
Net smelter royalty receivable: 2 pct
How it affects our valuation

No valuation treatment is available for this arrangement.

White Dam heap-leach sale to Pacgold (now Broken Hill Gold, BH6): A$1.2m cash, 15m BH6 shares and a deferred A$2.2m payable only on 5,000 oz production (AR p.56).

Other · Conditional
Counterparties
Broken Hill Gold Ltd (ASX: BH6)
Applies to
Company-wide · Gold · Copper
Economic direction
Benefit
Period
From 2025-07-01; no end date stated
Key terms
Deferred payment: 2,200,000 AUD
Shares received: 15,000,000 shares
How it affects our valuation

No valuation treatment is available for this arrangement.

Wise Walkers farm-in over Twin Hills was terminated and the prior expenditure converted to equity; the Participation and Release Deed ended the agreement (AR25 p.3, p.8). No valuation treatment.

Farm In · Terminated
Counterparties
Wise Walkers Limited
Applies to
Twin Hills Gold Project (309 and Lone Sister) · Gold
Economic direction
Mixed
Period
Through 2025-06-30; start date not stated
Key terms
Status: —
How it affects our valuation

This arrangement has ended; no current valuation treatment is required.

CSAM convertible note repaid in full in June 2025 (A$6.17m plus early redemption shares and options); the company is released from the agreement and security.

Other · Terminated
Counterparties
Collins St Asset Management
Applies to
Company-wide · Gold
Economic direction
Burden
Period
Through 2025-06-30; start date not stated
Key terms
Repayment: 6,170,350 AUD
How it affects our valuation

This arrangement has ended; no current valuation treatment is required.

Newcrest farm-in on Mt Coolon (2022) withdrawn; GBM retains 100% of the project (AR25 p.7-8). No valuation treatment.

Farm In · Terminated
Counterparties
Newcrest Mining
Applies to
Mt Coolon Gold Project (Koala, Glen Eva, Eugenia) · Gold
Economic direction
Mixed
Period
2022-10-01 to 2025-06-30
Key terms
Status: —
How it affects our valuation

This arrangement has ended; no current valuation treatment is required.