Gibb River Diamonds Limited has secured a contract mining agreement with BML Ventures Pty Ltd for the open pit extraction of gold at its fully owned Edjudina Gold Project in Western Australia’s Eastern Goldfields. The deal focuses on the Neta Prospect, which hosts an Indicated and Inferred JORC resource of 378,000 tonnes averaging 1.9 g/t gold (approximately 24,000 ounces) and includes an Indicated segment of 110,000 tonnes at 2.2 g/t (around 8,000 ounces). In addition, the agreement covers a historic tailings resource with potential for another 1,200 ounces, adding further value to the project. Under the terms of the arrangement, BML Ventures will bear all capital and operational expenses, including mining, haulage, staffing, and milling costs. Once operational cash flow covers these costs, net surplus cash is split equally between the two companies on an ongoing basis. Gibb River Diamonds Limited is set to contribute by facilitating permitting and heritage clearances, with a heritage survey scheduled for June 2025. Mining operations at the Neta Prospect are expected to commence as early as August 2025, subject to final approvals and secured processing arrangements with regional toll milling facilities. The agreement is structured to run until May 2028, the completion of mining, the final distribution of net profit, or earlier termination if BML fails to mine a minimum of 5,000 tonnes of ore or waste by December 2025. With the bulk of mining costs being paid by BML from operational proceeds, the initiative promises near-term production without diluting shareholder capital. Gibb River Diamonds Limited also retains full rights to other areas within the Edjudina Gold Project, where planned exploration drilling could lead to further discoveries. Bullish sentiment on this news stems from the fact that the partnership with an experienced contractor mitigates financial risk for Gibb River Diamonds Limited by eliminating upfront capital costs, while opening the door to near-term gold production. The use of established processing plants and the potential to benefit from future exploration on adjacent tenements add further upside. Conversely, a bearish view could argue that the project’s success remains contingent upon obtaining necessary regulatory approvals and finalizing processing arrangements. Additionally, the reliance on spot gold prices without forward sales introduces market exposure that could impact revenues if gold prices falter.