Great Boulder Resources Reports 'Minimal Impact' From Fuel Shortage; Shares Down 3%

MT Newswires Live

04/24

Great Boulder Resources (ASX:GBR) said the fuel shortage stemming from the Middle East conflict resulted in only a "minimal impact" on the company's field operations, according to a Friday filing with the Australian bourse.

Current diesel prices will add about AU$4 to AU$5 per meter to reverse circulation drilling costs, and less for air core or diamond drilling, which are not as fuel-intensive, the company said.

Great Boulder Resources has completed more than 38,000 meters of drilling at its flagship Side Well Gold Project in Western Australia, with deep drilling at the Mulga Bill deposit returning an intersection of 1.9 meters at 574.4 grams per tonne grade of gold, per the filing.

The company's shares were down nearly 3% in recent Friday trade.

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