Australia's GBM Resources up on strong gold estimates for Twin Hills project

Gbm Resources

05/12/2022 03:28

** Shares of mineral explorer GBM Resources  GBZ.AX  jump 
as much as 8.9% to A$0.049, on track for their biggest pct gain
since Nov. 1 
    ** Co says the total mineral resource estimate for Twin
Hills gold project in Queensland has been upgraded to 999,200
ounces of gold from a prior 760,700 ounces, up 31% 
    ** Shares hit their highest level since Nov. 21 
    ** More than 743,760 shares change hands as compared with
the 30-day average volume of ~649,239 shares  
    ** Stock down 60.9% this year, as of last close, vs a 1.92%
decrease in the benchmark S&P/ASX 200 index  .AXJO  
 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))