GBM Resources (ASX:GBZ) announced it has regained ownership of the Mount Coolon gold project in Queensland following Newmont’s (TSX:NEM,NYSE:NEM,ASX:NEM) termination of a 2022 farm-in agreement. GBM made the deal with Newcrest Mining before that company was acquired by Newmont in 2023. Newmont’s withdrawal is part of its focus on divesting non-core assets to hone in on its more profitable and stable tier one operations. The company has made substantial adjustments to its portfolio this year. GBM reacted positively to Monday’s (September 15) news, saying that regaining full ownership of the project aligns with its strategy to build a leading gold portfolio in the Drummond Basin. “We are excited to regain 100 percent ownership, and our exploration team are enthusiastic about getting on the ground as we see significant upside on the Mt Coolon Tenure,” commented CEO Daniel Hastings. Located within the Drummond Basin and near GBM’s Twin Hills and Yandan…
