GDM Secures Gold Concentrate Offtake Agreement
Key points
- GDM executes a 12-month offtake agreement with MRI Trading AG
- Agreement covers 100% of Challenger gold concentrate production
- Agreement supports GDM's operational ramp-up and export pathway
Full summary
Great Divide Mining Ltd (ASX:GDM) has executed a binding gold concentrate offtake agreement with MRI Trading AG for the purchase of gold concentrate produced from the Challenger Gold Mine in Adelong, NSW. The agreement covers 100% of the gold concentrate produced from 1 April 2026 to 30 June 2027, with production expected to range between approximately 26 and 52 wet metric tonnes per week. GDM will receive payment for a high percentage of contained gold linked to prevailing London Bullion Market Association (LBMA) benchmark gold prices. The concentrate will be shipped in approximately 25-tonne containerized lots to international customers via Port Klang, Malaysia. GDM CEO Justin Haines highlighted the agreement as a significant milestone in the recommissioning and commercial ramp-up of the Challenger Gold Mine.
Summary generated by a large language model. Please interpret with care.