Gibb River Diamonds Limited has provided an update on the permitting and status of its Edjudina Gold Project in Western Australia, centering on the Neta Prospect. The company submitted its Mining Proposal for the Neta site in March 2025, which is currently under assessment by the Western Australia Mines Department. Responding to requests for further information, the company remains cautiously optimistic that this permit will be granted, potentially paving the way for mining to begin by August 2025 if their joint venture partner and private mining contractor, BML Ventures Pty Ltd, decides to proceed. The responsible regulatory approvals include not only the mining proposal but also a native vegetation clearing permit, submitted in April 2025, needed to expand clearing areas for future operations, and a Licence To Take Water issued by the Department of Water and Environmental Regulation, valid until 2035, to support operational water needs. The company outlined its strategy to process the Neta ore by utilizing existing milling capacity under current BML contracts, although securing additional milling capacity remains an option yet to be negotiated. Notably, all mining-related capital and working costs are to be borne by BML Ventures, significantly reducing the financial risk for Gibb River Diamonds Limited. Once operating expenses are covered and reimbursed from the project’s operational cash flow, any remaining surplus will be shared equally between the two parties. All production is intended to be sold in the spot gold market, leaving the project exposed to gold price fluctuations rather than secured through forward sales contracts. From a technical perspective, the Neta Prospect boasts an indicated and inferred resource of approximately 378,000 tonnes grading 1.9 grams per tonne, representing around 24,000 ounces of gold. This includes an indicated subset of 110,000 tonnes averaging 2.2 grams per tonne, or roughly 8,000 ounces. Located 145 kilometers northeast of Kalgoorlie within the Eastern Goldfields, the Edjudina Project benefits from proximity to several gold mills, despite one local milling facility not being configured for gold production. The regional setting also presents significant exploration potential, with a historic 13-kilometer strike featuring numerous high-grade veins. The development outlook carries both bullish and bearish elements. On the bullish side, the ongoing progress in securing key permits, the effective cost-sharing arrangement with BML Ventures, and the robust resource estimates provide a positive signal for potential near-term mining operations and value generation. However, bearish considerations include the regulatory uncertainties still pending approval—specifically the mining proposal and native vegetation permit—which could delay the commencement of operations. In addition, reliance on the spot gold market leaves the project exposed to price volatility, which may affect revenue generation in the early stages of its production cycle.