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- Last 2026-11-06
- A$0.017
- 1D
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- 1M
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- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
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- Mkt cap
- A$83.4M
- EV
- A$61M
- Cash
- A$23.3M
- Debt
- A$0
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Sign in or enter a guest codeAnnouncements
Latest 12 of 13All sources ▸- September 2026 Quarterly Report (Appendix 5B)Results
- Notice of Annual General Meeting and Proxy Form (AGM 17 November 2026)Governance
- GBM Resources Annual Report 2026 (year ended 30 June 2026)Results
- Half Year Accounts 31 December 2025Results
- Update on Placement to Wise Walkers (ASX 19 Dec 2025)Financing
- $40m Institutional Placement to Drive Drummond Basin Growth (ASX 9 Oct 2025)Financing
- GBM Resources Annual Report to shareholders 2025 (year ended 30 June 2025)Results
- Appointment of Non-Executive Director (ASX 14 Aug 2025)Leadership
- Appointment of Daniel Hastings as Chief Executive Officer (ASX 11 Aug 2025)Leadership
- Board Appointments (ASX 30 Jun 2025)Leadership
- $13M Placement, Repayment of Debt and Board Restructure (ASX 24 Jun 2025)Financing
- Results of Yandan Mineral Resource Update (ASX 14 Mar 2023)Resource Update
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Q4 2026 | Remaining Twin Hills Stage 2 assays and metallurgical follow-up | Exploration | Company Guided | Medium | About 40 per cent of the 50,000 m Stage 2 program remained at the September quarter; metallurgical flotation tests were at an early stage. |
| Q4 2026, company guided | Updated Twin Hills resource (309 and Lone Sister) after Stage 2 drilling | Resource Or Reserve | Company Guided | High | Resource growth and grade uplift test the thesis that the 1.0Moz Twin Hills resource can grow; the September quarter reported high-grade intercepts outside the MRE (Sept 2026 quarter p.1-2). |
| Nov-Dec 2026, company guided | Yandan East Hill assays from the 8,000 m Stage 1 program | Exploration | Company Guided | High | First assays from the priority East Hill holes will test whether the high-grade core extends and feed the H1 2027 East Hill update (Sept 2026 quarter p.7-8). |
| 17 Nov 2026 10:00 AWST | Annual general meeting (remuneration report, two director re-elections, 10% placement capacity) | Governance | Confirmed | Medium | The 10% placement capacity resolution sets the dilution the company can use without a further shareholder vote. |
| By 31 Jan 2027 (ASX quarterly deadline) | December 2026 quarterly activities report and Appendix 5B | Results | Confirmed | Medium | Shows the cash burn after the September quarter (A$8.1m) and whether any new funding is needed. |
| H1 2027, subject to drilling results | Updated East Hill (Yandan) mineral resource estimate | Resource Or Reserve | Company Guided | High | The East Hill resource is the largest Yandan category (12.8Mt at 1.1 g/t Au for 443,000 oz) and the main upgrade candidate. |
| By 31 Mar 2027 (statutory) | Half-year accounts to 31 December 2026 | Results | Confirmed | Medium | Reports the cash, share count and option position after a year of heavy equity dilution. |
Executive roster
As of 2026-10-31Background checks ▸Executive director, chief executive and company secretary as disclosed in the FY2026 directors report (AR p.14-16) and the 2025 appointment notices. Non-executive directors are excluded from this roster.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Andrew Krelle | Executive Director | Executive Director | 2024-11-27 | GBM Resources Annual Report 2026 (year ended 30 June 2026) |
| Daniel Hastings | Chief Executive Officer | Chief Executive | 2025-08-11 | Appointment of Daniel Hastings as Chief Executive Officer (ASX 11 Aug 2025) · GBM Resources Annual Report 2026 (year ended 30 June 2026) |
| Lachlan Lynch | Company Secretary | Company Secretary | 2025-06-30 | GBM Resources Annual Report 2026 (year ended 30 June 2026) |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Twin Hills Gold Project (309 and Lone Sister)
AU
Resource Stage100% ownedGold
Resource-stage gold project, 100% owned through Mount Coolon Gold Mines. Stage 2 drilling (about 50,000 m) under way; updated resource targeted Q4 2026; initial flotation recoveries 92-99 per cent.
- Contained metal (attributable)
- 999.2k ozd
- Resource grade
- 1.30 g/t
- % Measured + Indicated
- 59.6%d
- Resource tonnes
- 23.11 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- Open pit to 0 RL, underground below (per 2022 resource release)
Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 0.8 Mt | 2.8 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | indicated | 11.3 Mt | 1.4 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | inferred | 11 Mt | 1.1 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | total | 23.1 Mt | 1.3 g/t Au | Gold | 2026-06-30 |
Milestones1
- Updated Twin Hills mineral resource estimate (309 and Lone Sister) following Stage 2 drilling
Pending · High materiality
Core asset
Yandan Gold Project (East Hill, Yandan South, Illamahta)
AU
Resource Stage100% ownedGold
Resource-stage gold project, 100% owned through Straits Gold. Stage 1 drilling (8,000 m) started Q3 2026; East Hill updated resource targeted H1 2027.
- Contained metal (attributable)
- 514.5k ozd
- Resource grade
- 1.00 g/t
- % Measured + Indicated
- 46.6%d
- Resource tonnes
- 15.89 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves3
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | indicated | 4.9 Mt | 1.5 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | inferred | 11 Mt | 0.8 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | total | 15.9 Mt | 1.0 g/t Au | Gold | 2026-06-30 |
Milestones1
- Updated East Hill mineral resource estimate after Stage 1 drilling
Pending · High materiality
Material
Mt Coolon Gold Project (Koala, Glen Eva, Eugenia)
AU
Resource Stage100% ownedGold
Resource-stage gold project, 100% owned through Mt Coolon Gold Mines; initial brownfields and greenfields drilling along the Glen Eva corridor planned.
- Contained metal (attributable)
- 330.5k ozd
- Resource grade
- 1.50 g/t
- % Measured + Indicated
- 56.9%d
- Resource tonnes
- 6.65 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves4
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | measured | 0.1 Mt | 1.7 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | indicated | 3.6 Mt | 1.6 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | inferred | 2.9 Mt | 1.5 g/t Au | Gold | 2026-06-30 |
| Mineral Resource | total | 6.7 Mt | 1.5 g/t Au | Gold | 2026-06-30 |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Stock database
Other assets
- Investee
- Broken Hill Gold Ltd (ASX: BH6)
- Holding
- —
- Shares held
- 15.00m
- Market value
- A$1.8mm
- % of holder's market cap
- 2.2%m
- Cost basis
- A$945.0kd
- Ownership
- 4,900.0%
- Description
- Retained 49% JV interest in Mt Morgan tenements after the July 2025 sale to Lithium Energy (51% transferred)
- Book value
- —
Funding, performance and ownership
Financials & Capital
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
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares (ASX: GBM) | Ordinary Share | 4.9B | — | — |
| Unlisted options at $0.069 expiring 1 Dec 2026 | Option | 8M | A$0.069 | 2026-12-01 |
| Unlisted options at $0.061 expiring 19 Feb 2027 | Option | 4.2M | A$0.061 | 2027-02-19 |
| Unlisted options at $0.01 expiring 30 Jun 2028 | Option | 91.7M | A$0.01 | 2028-06-30 |
| Unlisted options at $0.015 expiring 30 Jun 2028 | Option | 91.7M | A$0.015 | 2028-06-30 |
| Unlisted options at $0.02 expiring 30 Jun 2028 | Option | 91.7M | A$0.02 | 2028-06-30 |
| Unlisted options at $0.009 expiring 30 Jun 2028 | Option | 100M | A$0.009 | 2028-06-30 |
| Unlisted options at $0.03 expiring 11 Aug 2028 | Option | 50M | A$0.03 | 2028-08-11 |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2025-10-16Ann. 2025-10-09 | Raising | A$31.8M | 600M | — | Completed | — |
| 2026-03-04Ann. 2025-10-09 | Raising | A$8.1M | 151.9M | — | Completed | — |
| 2025-06-27Ann. 2025-06-24 | Raising | A$13M | — | — | Completed | — |
| 2025-06-27Ann. 2025-06-24 | Debt | A$6.2M | 179.9M | — | 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.
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.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The team combines reported geology, resource exploration and capital-market experience, but independent outcome verification and exact technical-team continuity remain limited. A shareholder has challenged retail placement access and meeting format; GBM’s board disputes the criticism. The site portfolio includes inherited rehabilitation obligations.
Decision-relevant facts
Material summary
Andrew Krelle
Executive Director
GovernanceDocumented · High materiality
Shareholder questions capital raising and meeting access
In the 14 October 2026 AGM notice, shareholder Stephen Mayne questioned the absence of share-purchase plans following the June and October 2025 placements and the physical-only meeting. The board defended its funding approach and recommended voting against his proposed board election. The vote was scheduled for 17 November and was not yet known at the cutoff.
Role overlaps event; causation unproven · Board-level disagreement; no finding of misconduct or individual causal responsibility.
Notice of 2026 annual general meeting · pp. 14–16, Mayne statement and board response
EnvironmentIssuer Reported · Medium materiality
Yandan legacy rehabilitation
GBM reported a 2021 Yandan environmental protection order completed in FY2022, before Krelle joined the board. In FY2026 it reported an increase in estimated rehabilitation costs. The legacy order is not a personal fault finding.
Employer context; no individual link established · The order predated his appointment; ongoing site obligations are company-level context.
Annual report 2022 · printed pp. 51–52
Annual report for year ended 30 June 2026 · note 29 environmental bonds
GovernanceDocumented · Medium materiality
Two previously listed managers have unconfirmed current roles
GBM’s February 2026 presentation named Themi Kailis corporate development manager; its July 2026 presentation named Edward Jelicich-Kane principal geologist. Neither is named on the undated leadership page viewed at cutoff. Their continuation or departure could not be established, so neither has been classified as a current or former executive.
Role overlaps event; causation unproven · The issuer sources establish dated roles, but not the later status or reason for any change.
Leadership · executive management
Evidence gaps · 3
- Independent verification of qualifications and full past employer dates remains incomplete.
- No direct evidence assigns the prior environmental order to Krelle.
- Themi Kailis and Edward Jelicich-Kane were listed in February and July 2026 respectively, but their cutoff-date roles remain unconfirmed.
Daniel Hastings
Chief Executive Officer
Personal SuccessIssuer Reported · Medium materiality
Reported discovery and technical career
GBM credits Hastings with leading a team’s discovery and drill-out of more than 5Moz gold equivalent near Ok Tedi and with technical roles at Newcrest and Simberi. The description is issuer reported; individual attribution and dates have not been independently quantified.
Individual involvement documented · Issuer explicitly credits him but detailed contemporaneous independent evidence was not established.
Company SuccessDocumented · Medium materiality
Drilling and cash during CEO tenure
The September 2026 report recorded exploration drilling at Twin Hills and Yandan, A$23.302m cash and approximately 2.9 quarters of funding at that quarter’s outflow rate. Exploration outcomes and funding runway are not a production or mine-development achievement.
Role overlaps event; causation unproven · CEO role overlaps; the results reflect the company and team, not a quantified personal contribution.
September 2026 quarterly report and Appendix 5B · pp. 2, 20–21
Evidence gaps · 2
- Original source files for the claimed discovery and the precise project tenure were not independently obtained.
- Degrees and memberships were not independently verified.
Lachlan Lynch
Company Secretary
Role FitAnalyst Inference · Medium materiality
Listed-company secretary experience
His dated GBM and NGX appointment notices report company-secretary roles and Apollo financial-controller experience, which are relevant to disclosure administration. Scope and workload of concurrent roles remain uncertain.
Responsibility not applicable · Inference from disclosed positions; no specific quality outcome was measured.
Evidence gaps · 2
- Independent professional membership and degree confirmation unavailable.
- Concurrent workloads and exact earlier role dates are not established.
Brent Simpson
Exploration manager, issuer website; commencement unconfirmed
Role FitAnalyst Inference · Medium materiality
Exploration and modelling experience reported
GBM’s undated leadership page describes exploration, geological modelling and engagement experience. This could be relevant to GBM’s exploration programme, but no dated prior employer or deliverable is established by the source.
Responsibility not applicable · Inference is based on an uncorroborated issuer description.
Leadership · Brent Simpson biography
Evidence gaps · 2
- The appointment date and exact historical role at cutoff are not documented by the undated page.
- Full previous employer chronology, outcomes and independent credentials remain unverified.
Scott Randall
Chief geologist, issuer website; commencement unconfirmed
Personal SuccessIssuer Reported · Medium materiality
Reported WKP discovery-team involvement
GBM and Southern Gold describe Randall’s involvement in the Wharekirauponga discovery team. A 2019 geological paper’s indexed acknowledgments mention a Scott Randall, but direct access to the complete article was blocked and the identity and exact contribution were not independently established.
Individual involvement documented · The issuer and former employer credit team involvement; an indexed research-paper lead was inaccessible and is not relied upon as evidence.
Leadership · Scott Randall biography
Scott Randall · Scott Randall profile
Evidence gaps · 2
- Appointment date and precise title at cutoff rely on an undated issuer webpage.
- Employment dates, discovery responsibility and independent credentials remain incomplete.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-08-31 · 4,908,399,700 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 25.94% | 1,273,467,490 | |
| 2 | 9.82% | 481,767,310 | |
| 3 | 8.59% | 421,736,926 | |
| 4 | 5.21% | 255,529,168 | |
| 5 | 4.07% | 200,000,000 | |
| 6 | 2.68% | 131,625,000 | |
| 7 | 2.04% | 100,000,000 | |
| 8 | 1.26% | 61,762,011 | |
| 9 | 1.15% | 56,214,515 | |
| 10 | 1.04% | 51,117,047 | |
| 11 | 1.02% | 50,000,001 | |
| 12 | 1.02% | 50,000,000 | |
| 13 | 1.01% | 49,675,102 | |
| 14 | 0.81% | 40,000,000 | |
| 15 | 0.71% | 35,000,000 | |
| 16 | 0.70% | 34,562,530 | |
| 17 | 0.70% | 34,291,228 | |
| 18 | 0.58% | 28,333,333 | |
| 19 | 0.57% | 28,000,000 | |
| 20 | 0.55% | 27,103,237 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 18.92%Voting power | 2026-03-04 | |
| 5.70%Voting power | 2025-10-16 |
Sources & review notesEvidence checked through 2026-10-31
Coverage and limitations
- Wise Walkers’ March 2026 notice records 921,736,926 registered shares, whereas the August register lists 421,736,926 under the same name; the 500 million difference is unreconciled.
- Arredo ceased being substantial on 16 October 2025 by dilution, not necessarily sale; its August registered holding remains visible separately.
- Historical voting percentages predate later capital changes.
- Nominee names do not establish beneficial ownership, and registered holdings must not be summed with substantial reporting-group interests.
- No later substantial-holder notice was found in the cached ASX manifest through 31 October 2026; sub-threshold changes may not be disclosed.
Sources
- Annual Report 2026
GBM Resources Limited via ASX · Published 2026-09-30 · Accessed 2026-10-31
Top-20 register at 31 August 2026 and earlier substantial-notice summary.
downloads/GBM/2026/2026-09-30_Annual Report to shareholders_9b984ca151d73527.pdf, PDF pages 66–67
- Wise Walkers change in substantial holding
Wise Walkers Limited via ASX · Published 2026-03-06 · Accessed 2026-10-31
921,736,926 ordinary shares and 18.92% voting power on 4 March 2026.
downloads/GBM/2026/2026-03-06_Change in substantial holding_06209a09a677b5e4.pdf, page 1
- Jupiter becoming a substantial holder
Jupiter Asset Management via ASX · Published 2025-10-17 · Accessed 2026-10-31
255,955,729 ordinary shares and 5.70% voting power on 16 October 2025.
downloads/GBM/2025/2025-10-17_Becoming a substantial holder_c27ccbee766484d9.pdf, page 1
- Arredo ceasing to be a substantial holder
Arredo Pty Ltd via ASX · Published 2025-10-17 · Accessed 2026-10-31
Cessation on 16 October 2025 arose from dilution; it does not establish a sale or zero holding.
downloads/GBM/2025/2025-10-17_Ceasing to be a substantial holder_c479ad2729baa6a4.pdf, page 1
Disclosed activity
Insider transactions
Trading activity2 buys · 0 sells shownNet cash last 12 months A$8.1mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-03-04 | Wise Walkers Limited
Details & evidence for Wise Walkers Limited on 2026-03-04The director and holder records refer to the same Wise Walkers placement. As disclosed: Issue of placement shares to Wise Walkers Limited following shareholder approval.
Change of Director's Interest Notice ↗ Change in substantial holding ↗ Application for quotation of securities - GBM ↗ | SubscriptionFully paid ordinary shares | 95,315,926 | AUD 5,051,744.00 | AUD 0.053Disclosed price | 921,736,926 |
| 2025-12-18 | Wise Walkers Limited
Details & evidence for Wise Walkers Limited on 2025-12-18The director and holder records refer to the same Wise Walkers placement. Issuer placement update states 56,603,776, while three other notices state 56,603,773; discrepancy unresolved. As disclosed: Issue of placement shares to Wise Walkers Limited following shareholder approval.
Change of Director's Interest Notice ↗ Change in substantial holding ↗ Application for quotation of securities - GBM ↗ | SubscriptionFully paid ordinary shares | 56,603,773 | AUD 3,000,000.00 | AUD 0.053Disclosed price | 826,421,000 |
Disclosed holding observations3 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-08-31 | Jupiter Asset Management
Details & evidence for Jupiter Asset Management on 2026-08-31The annual report's substantial-shareholder table reports 255,955,729 shares. It does not state a percentage, account, or whether the named manager holds directly.
Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 255,955,729 | — |
| 2026-08-31 | Wise Walkers Limited
Details & evidence for Wise Walkers Limited on 2026-08-31The annual report's substantial-shareholder table gives 921,736,926 shares, while the same report's 20-largest-holder table gives 421,736,926 / 8.59%. This is recorded as the explicitly reported substantial-shareholder figure with the conflicting table value retained; no intervening transaction is inferred.
Annual Report to shareholders ↗ Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 921,736,926 | — |
| 2026-03-04 | Wise Walkers Limited
Details & evidence for Wise Walkers Limited on 2026-03-04Form 604 reports voting power and beneficial interest; no inference of daily holdings.
Change in substantial holding ↗ | PositionFully paid ordinary shares | 921,736,926 | 18.92%Voting Power |
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Narrative and provenance
Research & Sources
AI Analyst Report
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Sign in or enter a guest codeChronological evidenceSource-document inventory16 documents
GBM daily close 30 October 2026 (reference price)Market Data · LowMetadata Only
Latest eligible local ASX close for one GBM ordinary share: A$0.018 on 30 Oct 2026 (open 0.018, high 0.018, low 0.017, volume 4,391,977), fresh for the 31 Oct 2026 valuation date; from the local price database via miners.reference_price.
- Document ID
- mkt-gbm-ref-price-2026-10-30
- Published UTC
- 2026-10-30T05:00:00Z
- Projects
- —
- Commodities
- gold
GBM market snapshot and Au peer rows as of 31 Oct 2026Market Data · MediumMetadata Only
Output of miners.v8db.market_snapshot GBM at cutoff 2026-10-31 (shares 4,908,399,700): market cap A$88.35m, 12-month return -53.9%, 1y gold average US$4,454/oz and spot US$4,031/oz (29 Oct 2026); Au developer and resource peers from miners_v8.db (AAR, AZY, TSO, VAL, RSG, FRS, MI6, CMM) with EV per attributable resource oz.
- Document ID
- mkt-gbm-snapshot-2026-10-31
- Published UTC
- 2026-10-30T22:00:00Z
- Projects
- —
- Commodities
- gold
September 2026 Quarterly Report (Appendix 5B)Results · MediumExtracted
September 2026 quarter: cash A$23.3m, no debt and no unused facilities, operating outflow A$1.4m, investing outflow A$7.0m; Twin Hills Stage 2 assays, metallurgy and Yandan Stage 1 drilling; Yandan East Hill MRE update targeted H1 2027.
- Document ID
- gbm-q-sep2026
- Published UTC
- 2026-10-28T21:56:10Z
- Projects
- twin-hills · yandan · mt-coolon
- Commodities
- gold
Notice of Annual General Meeting and Proxy Form (AGM 17 November 2026)Governance · LowExtracted
Notice of the 17 November 2026 AGM; resolutions are routine (remuneration report, two director re-elections, 10% placement capacity). No capital reconstruction.
- Document ID
- gbm-agm-notice-2026
- Published UTC
- 2026-10-14T02:50:24Z
- Projects
- —
- Commodities
- gold
GBM Resources Annual Report 2026 (year ended 30 June 2026)Results · HighExtracted
FY2026 annual report: loss of A$9.02m attributable, A$31.7m cash and no debt at 30 June 2026, 4.91bn shares on issue, Drummond Basin resource table at 30 June 2026 (1.84Moz), BH6 shares, royalties and the Mt Morgan and Cloncurry disposals.
- Document ID
- gbm-ar-fy2026
- Published UTC
- 2026-09-30T05:17:05Z
- Projects
- twin-hills · yandan · mt-coolon
- Commodities
- gold
Half Year Accounts 31 December 2025Results · MediumExtracted
Half-year to 31 December 2025: cash A$33.4m, net assets A$84.0m, borrowings nil, net loss A$9.5m, WWL placement tranche 2 completed for A$5.05m.
- Document ID
- gbm-hy-dec2025
- Published UTC
- 2026-03-13T08:51:46Z
- Projects
- twin-hills · yandan · mt-coolon
- Commodities
- gold
Update on Placement to Wise Walkers (ASX 19 Dec 2025)Financing · MediumExtracted
Wise Walkers had paid A$3m of its A$8.05m placement commitment; 56,603,776 shares issued at A$0.053; the balance of 95,315,926 shares (A$5.05m) awaited shareholder approval.
- Document ID
- gbm-plc-dec2025
- Published UTC
- 2025-12-18T21:26:52Z
- Projects
- twin-hills
- Commodities
- gold
World Gold Council 2026 gold price projection (Nairametrics, 5 Dec 2025)Commodity Data · MediumMetadata Only
Secondary report (5 Dec 2025) of World Gold Council projections for 2026 gold prices, which the secondary report describes as a 15 to 30 percent rise. Used for direction only; not verified against the WGC primary publication. Later 2026 bank and poll commentary (Reuters poll of 27 Oct 2026 reported in search snippets, low quality) shows analysts cut 2026 forecasts but expect recovery in 2027.
- Document ID
- outside-wgc-gold-outlook-2025-12
- Published UTC
- 2025-12-05T00:00:00Z
- Projects
- —
- Commodities
- gold
$40m Institutional Placement to Drive Drummond Basin Growth (ASX 9 Oct 2025)Financing · HighExtracted
A$39.85m placement at A$0.053 per share in two tranches (600m shares 16 Oct 2025 under LR 7.1/7.1A; 151.9m shares to Wise Walkers subject to approval).
- Document ID
- gbm-plc-oct2025
- Published UTC
- 2025-10-08T22:42:44Z
- Projects
- twin-hills · yandan
- Commodities
- gold
GBM Resources Annual Report to shareholders 2025 (year ended 30 June 2025)Results · MediumExtracted
FY2025 annual report: records the termination of the Wise Walkers Twin Hills farm-in (p.3) and the Newcrest Mt Coolon farm-in reverting to GBM (p.7-8). Used for arrangement history only.
- Document ID
- gbm-ar-fy2025
- Published UTC
- 2025-09-26T09:02:14Z
- Projects
- twin-hills · mt-coolon
- Commodities
- gold
Appointment of Non-Executive Director (ASX 14 Aug 2025)Leadership · LowExtracted
Liu Hang appointed non-executive director; he is chairman of Wise Walkers Limited, the largest shareholder.
- Document ID
- gbm-ned-aug2025
- Published UTC
- 2025-08-13T23:26:00Z
- Projects
- —
- Commodities
- gold
Appointment of Daniel Hastings as Chief Executive Officer (ASX 11 Aug 2025)Leadership · MediumExtracted
Daniel Hastings appointed CEO from 11 August 2025 at A$380,000 salary plus 50m options at A$0.03.
- Document ID
- gbm-ceo-aug2025
- Published UTC
- 2025-08-10T23:13:42Z
- Projects
- twin-hills
- Commodities
- gold
Board Appointments (ASX 30 Jun 2025)Leadership · MediumExtracted
Ian Middlemas appointed Chairman; Peter Fox and Robert Behets appointed non-executive directors on 30 June 2025.
- Document ID
- gbm-chair-jun2025
- Published UTC
- 2025-06-29T22:27:17Z
- Projects
- —
- Commodities
- gold
$13M Placement, Repayment of Debt and Board Restructure (ASX 24 Jun 2025)Financing · HighExtracted
A$13.0m placement at A$0.006 per share to fund full repayment of CSAM convertible notes (A$6.2m); board restructure with Ian Middlemas as Chairman.
- Document ID
- gbm-plc-jun2025
- Published UTC
- 2025-06-23T22:54:09Z
- Projects
- twin-hills · yandan · mt-coolon
- Commodities
- gold
Results of Yandan Mineral Resource Update (ASX 14 Mar 2023)Resource Update · HighExtracted
Yandan resource of 15.9Mt at 1.0 g/t Au for 514,500 oz (East Hill 12.8Mt at 1.1 g/t; Illamahta 2.2Mt at 0.8 g/t); East Hill cut-off raised to 0.4 g/t Au.
- Document ID
- gbm-res-yandan-2023
- Published UTC
- 2023-03-13T22:45:39Z
- Projects
- yandan
- Commodities
- gold
Twin Hills Gold Project Upgrades to 1 Moz Mineral Resource (ASX 4 Dec 2022)Resource Update · HighExtracted
Twin Hills combined resource of 23.11Mt at 1.3 g/t Au for 999,200 oz (309 and Lone Sister), with cut-off grades of 0.4 g/t Au above 0 RL and 2.0 g/t Au below 0 RL.
- Document ID
- gbm-res-twinhills-2022
- Published UTC
- 2022-12-03T22:00:00Z
- Projects
- twin-hills
- Commodities
- gold
Evidence facts11
-9019867 AUD
2026-06-3031705102 AUD
2026-06-304908399700 shares
2026-06-3023302000 AUD
2026-09-3033385784 AUD
2025-12-31999200 oz
2022-12-04514500 oz
2023-03-140.053 AUD/share
2025-10-090.006 AUD/share
2025-06-2456603776 shares
2025-12-19380000 AUD/year
2025-08-11Conflicts requiring judgment1
- Yandan total tonnes
The 2023 Yandan release totals 15,852,000 t (East Hill 12.8Mt rounding); the 30 June 2026 statement totals 15,892 kt (AR p69). The later statement is used; contained ounces (514,500 oz) agree in both.