Key highlights

  • Great Divide Mining (ASX:GDM) shares were priced at $0.20 as at 3:01 pm GMT+11 on 22 October 2026, down 11.36% on the day and down 42.65% over a year.
  • Its 7 October 2026 update reported 191.3 wet metric tonnes of gold concentrate produced at Challenger in the September quarter.
  • For the December 2026 quarter, the company is targeting shipments of about 25 wet tonnes of concentrate per week at an average grade above 40 g/t.

Great Divide Mining Ltd (ASX:GDM) shares were priced at $0.20 as at 3:01 pm GMT+11 on 22 October 2026, down 11.36% (down $0.025) on the day, and the share performance data shows the stock down 42.65% over a year. Great Divide Mining operates the Challenger gold mine. In an ASX release dated 7 October 2026, it reported production for the quarter ended 30 September 2026.

About Great Divide Mining Ltd: Business overview

Great Divide Mining Ltd is a Brisbane-based mining company that produces gold concentrate at its Challenger gold mine. It reports feed rates at its processing plant, concentrate produced, concentrate grades and shipments, and sells concentrate under an offtake agreement with MRI Trading AG.

September quarter production update (7 October 2026)

Great Divide reported that Challenger produced 191.3 wet metric tonnes of gold concentrate in the September 2026 quarter, with monthly production rising from 62.1 wmt in July to 81.1 wmt in September; August production of 48.1 wmt was affected by planned shutdowns for maintenance, upgrades and operator training. Reported monthly concentrate grades were 45.4 g/t, 41.5 g/t and 42.0 g/t, a quarterly average of 43.1 g/t.

Eight concentrate shipments were dispatched in the quarter, and 195.8 wmt of concentrate was shipped at an average of 43 g/t between July and September. Shipments increased to three per month from two per month in the previous quarter, and processing feed rates reached 20–24 tonnes per hour in September.

Production outlook for the December 2026 quarter

For the second quarter of FY27, the company said it intends to stabilise processing at nameplate capacity, increase operating hours and feed grade where possible, and optimise recoveries and concentrate grades. It is targeting shipments of approximately 25 wet metric tonnes of concentrate per week at an average gold grade exceeding 40 g/t for the quarter ending 31 December 2026, subject to maintenance and shutdown requirements. It also plans to increase the regularity and Volume of shipments under the MRI Trading AG offtake and to progress open-cut and underground mine planning at Challenger.

Related sector context

Small gold producers are influenced by the gold price, plant throughput, concentrate grades, shipment timing and offtake arrangements. Quarterly reports typically cover production, shipments and plans for the following quarter, and results can move month to month with maintenance and shutdown schedules.

Risks to weigh in

Small gold producers depend on plant throughput, concentrate grades and shipment timing, and the company’s guidance is stated to be subject to maintenance and shutdown requirements. Revenue is exposed to the gold price and offtake terms, and operations depend on reliable equipment and funding. Share prices of small producers can move sharply, as the data supplied shows.

Catalysts on watch

Weekly concentrate shipments against the target of about 25 wet tonnes in the December 2026 quarter.

Progress with open-cut and underground mine planning at Challenger.

The company’s next Quarterly Report and any announcement under the MRI Trading AG offtake.

Closing perspective

Great Divide’s share performance data shows a decline of about 43% over a year and a further fall on the day, while its 7 October update describes rising monthly concentrate production and targets for the December quarter. The next quarterly report will show how output compares with those targets.