GBM Resources (GBM) AGM 2024 Presentation summary

Strategic partnerships and funding

• Secured major farm-in deals: Newmont at Mt Coolon (A$9.6M spent to Sep 2024) and Wise Walkers at Twin Hills (A$12M for 70% farm-in, subject to completion), providing significant funding and JV expenditure for exploration and resource growth.

• Convertible Note debt reduced from $10M to ~$5.4M by Nov 2024, with further repayments planned from asset sales and JV proceeds.

• Ongoing divestment of non-core assets (White Dam, Mt Morgan, Cloncurry JV) to fund Drummond Basin exploration and strengthen financial position.

Resource base and project portfolio

• Holds a dominant position in the Drummond Basin with a total attributable resource base of ~1.84 Moz Au, mostly on permitted mining leases for potential accelerated development.

• Twin Hills (>1.0 Moz Au), Yandan (0.51 Moz Au), and 309 Deposit (0.52 Moz Au) are key assets, all with high-grade intersections and open at depth.

• Additional resources at Illamahta (55 koz Au) and White Dam (102 koz Au), with ongoing exploration to expand the resource base.

Exploration and development plans

• Systematic exploration planned for 2025–2026, including geophysics, drilling, and 3D modelling at Twin Hills, Yandan, and associated targets.

• Drilling at Twin Hills to commence post-geophysics, with resource and exploration drilling at Yandan and Illamahta in the second half of 2025.

• Focus on identifying high-grade feeder veins and expanding shallow resources, leveraging modern geophysical techniques.