# GDM: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146658 Publisher: asx Original announcement: 2026-09-30T08:07:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T09:30:28.282Z Atlas analysis updated: 2026-09-30T09:30:28.282Z - Company: Great Divide Mining Limited - Ticker: GDM - Exchange: ASX - Region: New South Wales - Primary commodity: Gold - Secondary commodities: Antimony, Silver, Critical minerals - Document categories: Drill results, Capital raise, Production - Extracted: 2026-09-30 09:30:28 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Great Divide Mining Limited experienced a transformational year, transitioning from an explorer to a gold producer with the first gold pour and commercial concentrate shipments from its wholly-owned Challenger Gold Mine. The company also raised $3.835 million in capital and reported promising exploration results at its Coonambula Antimony-Gold Project, with plans for a maiden Mineral Resource Estimate. Despite these operational advancements, the company reported a significant net loss of $2.149 million and faces a material uncertainty regarding its ability to continue as a going concern, alongside an ongoing legal dispute. Reasoning: Great Divide Mining achieved a pivotal transition to gold production and revenue generation at its Challenger Gold Mine, supported by successful capital raises and promising exploration results at Coonambula. However, these operational successes are overshadowed by a substantial net loss, a material uncertainty about its going concern status, and an ongoing legal dispute, indicating significant financial and operational risks. - Positive factor: Transitioned from explorer to gold producer - Positive factor: Achieved first gold pour at Challenger Gold Mine - Positive factor: Commenced commercial gold concentrate shipments - Positive factor: Secured 100% ownership and operational control of Challenger Gold Mine - Positive factor: Successful capital raises totaling $3.835 million - Positive factor: Exploration program at Coonambula confirmed broad shallow gold mineralization and high-grade antimony/silver/gold zones - Positive factor: Maiden Mineral Resource Estimate planned for Coonambula - Negative factor: Reported a significant net loss for the year \($2.149 million\) - Negative factor: Material uncertainty related to going concern due to insufficient cash flow from operations and reliance on future funding - Negative factor: Ongoing legal dispute regarding a GST liability and indemnity asset - Negative factor: Concentration of credit risk with a single customer for gold concentrate sales Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 25 ## Classification and evidence **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report includes a Competent Person Statement signed by Mr Justin Haines, a Fellow of The Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Evidence · text > The information in this report that relates to Exploration Results is based on information compiled by Mr Justin Haines, a Competent Person who is a Fellow of The Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. **First Production** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company achieved its first gold pour and commenced commercial concentrate shipments at the Challenger Gold Mine during the financial year. Evidence · text > Key milestones included the first gold pour and commencement of commercial concentrate shipments at Challenger Gold Mine **Capital Raise** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company completed a $1.335 million capital raising through convertible loan notes and a $2.5 million placement during the year. Evidence · text > During FY2026, GDM completed capital raisings totalling $3.835 million **Going Concern Warning** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The financial report explicitly states a material uncertainty related to the Group's ability to continue as a going concern due to insufficient cash flow from operations and reliance on future funding. Evidence · text > These conditions give rise to a material uncertainty that may cast doubt upon the Group’s ability to continue as a going concern. **Legal Dispute** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company is involved in ongoing legal proceedings in the Supreme Court of New South Wales regarding a GST liability and indemnity asset. Evidence · text > The indemnifying party has disputed the Group's claim and proceedings have been commenced in the Supreme Court of New South Wales. **Single Customer Concentration** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Group's revenue is concentrated with a single customer for its gold concentrate sales, posing a credit risk. Evidence · text > The Group's revenue is concentrated with a single customer, which accounted for substantially all revenue recognised during the year. **Maiden Resource Planned** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company plans to progress preparation of a maiden JORC 2012 Mineral Resource Estimate for the Coonambula Antimony-Gold Project. Evidence · text > Progress preparation of a maiden JORC 2012 Mineral Resource Estimate. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Mineralization at Coonambula is reported to remain open along strike and at depth, indicating potential for extension. Evidence · text > mineralisation remaining open along strike and at depth. **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Drill results include 0.2 m @ 20.20 g/t Au and 1.0 m @ 14.6 g/t Au, which are exceptionally high-grade for gold. Evidence · text > 0.2 m @ 20.20 g/t Au **High Grade Antimony** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Drill results include 0.6 m @ 44.6% Sb and 0.85 m @ 26.66% Sb, which are very high grades for antimony. Evidence · text > 0.6 m @ 44.6% Sb **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The report includes a Competent Person Statement, indicating disclosure of QA/QC procedures. Evidence · text > Competent Person Statement ## Extracted facts Stored fact records: 20. Some facts used in scoring do not have a stored record. ## Drill Results (20) ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-0) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 1.73 - Grade Unit: g/t - Intercept: 5.8 m - From: 53.7 m - To: 59.5 m - Intercept Depth: 53.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:53.7-59.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows moderate grade gold over a reasonable width, contributing positively to the project's exploration potential. - Positive factor: Moderate grade gold intercept - Positive factor: Moderate continuity Evidence · text > 5.8 m @ 1.73 g/t Au + 11.57 g/t Ag + 4.76% Sb from 53.70 m in CBADD019 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-1) Coonambula Antimony-Gold · silver #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 11.57 - Grade Unit: g/t - Intercept: 5.8 m - From: 53.7 m - To: 59.5 m - Intercept Depth: 53.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:53.7-59.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows a low-to-moderate grade silver component alongside gold and antimony, adding to the polymetallic nature of the mineralization. Evidence · text > 5.8 m @ 1.73 g/t Au + 11.57 g/t Ag + 4.76% Sb from 53.70 m in CBADD019 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-2) Coonambula Antimony-Gold · antimony #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 4.76 - Grade Unit: % - Intercept: 5.8 m - From: 53.7 m - To: 59.5 m - Intercept Depth: 53.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:53.7-59.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows a moderate grade antimony component over a reasonable width, indicating polymetallic potential. - Positive factor: Moderate grade antimony intercept Evidence · text > 5.8 m @ 1.73 g/t Au + 11.57 g/t Ag + 4.76% Sb from 53.70 m in CBADD019 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-3) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 2.18 - Grade Unit: g/t - Intercept: 0.85 m - From: 54.25 m - To: 55.1 m - Intercept Depth: 54.25 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:54.25-55.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows moderate grade gold, but its narrow width limits its individual materiality. - Positive factor: Moderate grade gold - Negative factor: Narrow intercept Evidence · text > 0.85 m @ 2.18 g/t Au + 71.12 g/t Ag + 26.66% Sb from 54.25 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-4) Coonambula Antimony-Gold · silver #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 71.12 - Grade Unit: g/t - Intercept: 0.85 m - From: 54.25 m - To: 55.1 m - Intercept Depth: 54.25 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:54.25-55.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows moderate grade silver, but its narrow width limits its individual materiality. - Positive factor: Moderate grade silver - Negative factor: Narrow intercept Evidence · text > 0.85 m @ 2.18 g/t Au + 71.12 g/t Ag + 26.66% Sb from 54.25 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-5) Coonambula Antimony-Gold · antimony #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 26.66 - Grade Unit: % - Intercept: 0.85 m - From: 54.25 m - To: 55.1 m - Intercept Depth: 54.25 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:54.25-55.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows a very high grade antimony, indicating significant polymetallic potential despite the narrow width. - Positive factor: High grade antimony - Negative factor: Narrow intercept Evidence · text > 0.85 m @ 2.18 g/t Au + 71.12 g/t Ag + 26.66% Sb from 54.25 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-6) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 3.43 - Grade Unit: g/t - Intercept: 1.3 m - From: 56.2 m - To: 57.5 m - Intercept Depth: 56.2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:56.2-57.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows strong grade gold, but its narrow width limits its individual materiality. - Positive factor: Strong grade gold - Negative factor: Narrow intercept Evidence · text > 1.30 m @ 3.43 g/t Au + 2.15 g/t Ag + 3.75% Sb from 56.20 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-7) Coonambula Antimony-Gold · silver #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 2.15 - Grade Unit: g/t - Intercept: 1.3 m - From: 56.2 m - To: 57.5 m - Intercept Depth: 56.2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:56.2-57.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows low grade silver, and its narrow width limits its individual materiality. - Negative factor: Narrow intercept Evidence · text > 1.30 m @ 3.43 g/t Au + 2.15 g/t Ag + 3.75% Sb from 56.20 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD019 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-8) Coonambula Antimony-Gold · antimony #### Identity - Hole ID: CBADD019 - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 3.75 - Grade Unit: % - Intercept: 1.3 m - From: 56.2 m - To: 57.5 m - Intercept Depth: 56.2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD019:56.2-57.5 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows moderate grade antimony, contributing to the polymetallic nature despite the narrow width. - Positive factor: Moderate grade antimony - Negative factor: Narrow intercept Evidence · text > 1.30 m @ 3.43 g/t Au + 2.15 g/t Ag + 3.75% Sb from 56.20 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD018 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-9) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD018 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 1.11 - Grade Unit: g/t - Intercept: 6.1 m - From: 33 m - To: 39.1 m - Intercept Depth: 33 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD018:33-39.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows moderate grade gold over a reasonable width, contributing positively to the project's exploration potential. - Positive factor: Moderate grade gold intercept - Positive factor: Moderate continuity Evidence · text > 6.1 m @ 1.11 g/t Au + 0.5% Sb from 33.00 m in CBADD018 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD018 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-10) Coonambula Antimony-Gold · antimony #### Identity - Hole ID: CBADD018 - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 0.5 - Grade Unit: % - Intercept: 6.1 m - From: 33 m - To: 39.1 m - Intercept Depth: 33 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD018:33-39.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows a low grade antimony component, adding to the polymetallic nature of the mineralization. Evidence · text > 6.1 m @ 1.11 g/t Au + 0.5% Sb from 33.00 m in CBADD018 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD018 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-11) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD018 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 4.59 - Grade Unit: g/t - Intercept: 0.7 m - From: 35 m - To: 35.7 m - Intercept Depth: 35 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD018:35-35.7 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows strong grade gold, but its narrow width limits its individual materiality. - Positive factor: Strong grade gold - Negative factor: Narrow intercept Evidence · text > 0.7 m @ 4.59 g/t Au from 35.00 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD018 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-12) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD018 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 2.75 - Grade Unit: g/t - Intercept: 0.8 m - From: 38.3 m - To: 39.1 m - Intercept Depth: 38.3 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD018:38.3-39.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows moderate grade gold, but its narrow width limits its individual materiality. - Positive factor: Moderate grade gold - Negative factor: Narrow intercept Evidence · text > 0.8 m @ 2.75 g/t Au + 3.74% Sb from 38.30 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD018 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-13) Coonambula Antimony-Gold · antimony #### Identity - Hole ID: CBADD018 - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 3.74 - Grade Unit: % - Intercept: 0.8 m - From: 38.3 m - To: 39.1 m - Intercept Depth: 38.3 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD018:38.3-39.1 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows moderate grade antimony, contributing to the polymetallic nature despite the narrow width. - Positive factor: Moderate grade antimony - Negative factor: Narrow intercept Evidence · text > 0.8 m @ 2.75 g/t Au + 3.74% Sb from 38.30 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD013 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-14) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD013 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 5.27 - Grade Unit: g/t - Intercept: 4.9 m - From: 21 m - To: 25.9 m - Intercept Depth: 21 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD013:21-25.9 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows bonanza grade gold over a moderate width, indicating significant gold mineralization. - Positive factor: Bonanza grade gold intercept - Positive factor: Moderate continuity Evidence · text > 4.9 m @ 5.27 g/t Au from 21.0 m in CBADD013 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD013 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-15) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD013 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 14.6 - Grade Unit: g/t - Intercept: 1 m - From: 22.2 m - To: 23.2 m - Intercept Depth: 22.2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD013:22.2-23.2 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows bonanza grade gold, indicating a high-grade zone within the broader intercept despite its narrow width. - Positive factor: Bonanza grade gold - Negative factor: Narrow intercept Evidence · text > 1.0 m @ 14.6 g/t Au from 22.2 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### CBADD013 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-16) Coonambula Antimony-Gold · gold #### Identity - Hole ID: CBADD013 - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 4.49 - Grade Unit: g/t - Intercept: 1.2 m - From: 24.7 m - To: 25.9 m - Intercept Depth: 24.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: CBADD013:24.7-25.9 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This sub-interval shows strong grade gold, contributing to the overall gold mineralization despite its narrow width. - Positive factor: Strong grade gold - Negative factor: Narrow intercept Evidence · text > 1.2 m @ 4.49 g/t Au from 24.7 m. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 18 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-17) Coonambula Antimony-Gold · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Coonambula Antimony-Gold - Commodity: gold - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 20.2 - Grade Unit: g/t - Intercept: 0.2 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows bonanza grade gold, indicating very high-grade mineralization, though over a very narrow interval. - Positive factor: Bonanza grade gold - Negative factor: Narrow intercept Evidence · text > 0.2 m @ 20.20 g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 19 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-18) Coonambula Antimony-Gold · silver Needs review: drill\_no\_hole\_id #### Identity - Project: Coonambula Antimony-Gold - Commodity: silver - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 234 - Grade Unit: g/t - Intercept: 0.6 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows strong grade silver, indicating significant silver mineralization, though over a narrow interval. - Positive factor: Strong grade silver - Negative factor: Narrow intercept Evidence · text > 0.6 m @ 234 g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 20 [Link to this fact](https://atlas-staging.minestarters.com/news/gdm-annual-report-to-shareholders--cabca058-61d9-4748-b21f-0351bfde5873#fact-drill-facts-19) Coonambula Antimony-Gold · antimony Needs review: drill\_no\_hole\_id #### Identity - Project: Coonambula Antimony-Gold - Commodity: antimony - Region: australia\_qld - Reported Region: australia\_qld - Ticker: GDM #### Geometry - Grade: 44.6 - Grade Unit: % - Intercept: 0.6 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept shows very high grade antimony, indicating significant polymetallic potential despite the narrow width. - Positive factor: Very high grade antimony - Negative factor: Narrow intercept Evidence · text > 0.6 m @ 44.6% Sb #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.