Great Divide Mining (ASX:GDM) said its shareholders approved in an extraordinary general meeting a change in the nature of its business from a gold, antimony, and critical metals explorer to a producer through a farm-in transaction for the Adelong gold project in New South Wales, according to a Tuesday Australian bourse filing.
The firm said it will acquire a 15% stake in Challenger Mines if its 90-day due diligence on assets of Challenger, which started in November 2024, is successful. It will then become an operator of Challenger.
As announced last year, Great Divide has signed a binding farm-in agreement with Challenger parent Adelong Gold (ASX:ADG) to restart operations at the Adelong mine.
Great Divide's shareholders also approved the agreement.
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