PRESS RELEASE: GDM Challenger – Stage 2 Underway

Heavy mining equipment is now being mobilised to Challenger as Great Divide Mining enters Stage 2 of its progressive mine restart.

Only weeks after commencing regular gold concentrate shipments, Great Divide Mining Limited (ASX:GDM) has moved to the second stage of the Challenger Gold Mine restart, with heavy mining equipment now being mobilised to site, following confirmation of the continued validity of the mine’s Environment Protection Licence (EPL).

The confirmation allows GDM to proceed with the planned development of the Challenger open cut mine, representing the next stage in the Company’s disciplined strategy to progressively recommission one of New South Wales’ historic gold mines.

The commencement of open cut activities follows the successful establishment of regular gold concentrate shipments, with operating cash flow now being reinvested directly into Stage 2 development.

Chief Executive Officer Justin Haines said the rapid progression reflected careful planning rather than chance.

“Only a few weeks ago we celebrated Challenger’s first regular gold concentrate shipments. Today we’re mobilising the equipment for the next stage of the mine’s restart. That’s exactly how we planned it,” Mr Haines said.

“Every stage builds on the one before it. We generate cash flow, reinvest it back into the project and continue building Challenger into a long-life gold mining operation that the Adelong community can be proud of.”

Mr Haines said the commencement of open cut development would also create additional opportunities for local contractors, suppliers and employees across the Riverina as activity at the site continued to expand.

With heavy equipment now en route to site, Stage 2 is underway and Challenger’s recommissioning as an operating gold mine continues to gather momentum.

ENDS