ASX-listed GBM Resources has inked a heads of agreement with Stibium Mining to acquire its subsidiary Millstream Resources in exchange for 150-million fully paid ordinary shares.
Millstream holds an option to earn a 50% interest in the White Dam gold operation, in South Australia, a heap leach operation that has since 2010 produced around 170 000 oz of gold from the heap leach of around 7.5-million tonnes of ore mined from two openpits.