Great Divide Mining's strategic gold project acquisition

Great Divide Mining (ASX:GDM) has entered into a farm-in agreement with Adelong Gold Limited for a 51% stake in the Adelong Gold Project. Initially, GDM will invest $300,000 for a 15% interest, contingent on due diligence. They aim for first gold production within 12 months to secure the full stake.

Overview and future outlook of the Adelong Gold Project

Great Divide Mining has embarked on a strategic partnership with Adelong Gold to enhance the Adelong Gold Project in New South Wales. By acquiring up to 51% interest, GDM will lead the project towards first gold production within a year. The project has a JORC 2012 Resource of 188,000 ounces, with potential for expansion. The Ryan Family's involvement is expected to ensure the project's success. If GDM fails to meet the production timeline, Adelong Gold will reclaim full ownership. This agreement allows Adelong Gold to focus on other projects, including their Brazilian lithium exploration, while retaining a 49% interest in the Adelong project without immediate financial obligations.

Insights from Great Divide Mining on the farm-in agreement

The Ryan Family, with their significant mining experience and equipment ownership, will play a crucial role in ensuring the project's success and the timely restart of gold production within the 12-month target.