How Global Gold Mining (ASX:GGM) Is Building a Feasibility Case With 91% Gold Recovery at Sturec

Sonal Goyal

03 November 2026 10:02 PM AEDT

How Global Gold Mining (ASX:GGM) Is Building a Feasibility Case With 91% Gold Recovery at Sturec

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Key Highlights

Metallurgical testwork at Sturec achieved gold recoveries of up to 91.4% for the Fresh composite and 91.0% for the Channel composite
The company completed its rebrand from MetalsTech Limited to Global Gold Mining Limited, effective 25 August 2026
Drilling at Sturec continues, specifically collecting metallurgical, geotechnical and hydrogeological data for the Pre-Feasibility Study
Cash position of $6.134 million as at 30 September 2026, with board and management team strengthened during the quarter

Rebranding Marks a Strategic Shift Toward Gold

Global Gold Mining Limited (ASX:GGM), formerly known as MetalsTech Limited, completed its rebranding during the September 2026 quarter following Shareholder approval on 7 August 2026, with the name change effective 25 August 2026. The rebrand reflects a broadened, globally focused gold strategy anchored by the company's 100%-owned Sturec Gold Project in central Slovakia. The change signals a deliberate pivot toward a single-commodity focus on gold exploration and development.

The corporate restructuring also included new appointments to the board and management team. Mr Brett Dickson was appointed as Non-Executive Director, bringing more than 30 years of resources and corporate governance experience. Consilium Corporate Pty Ltd was engaged for company secretarial services, with Ms Ira Gibbs and Mr Damon Cox appointed as Joint Company Secretaries. Ms Ivy Jiang joined as Chief Financial Officer, and the registered office was relocated to Level 2, 22 Mount Street, Perth.

Strong Metallurgical Results Support PFS Progress

The headline achievement of the quarter was the release of metallurgical testwork results for the Sturec Gold deposit. The program was completed at ALS Metallurgy in Perth, Australia, under the supervision of Mining One Consultants. Head grades for the Fresh, Transitional, and Channel composites assayed at 0.97 g/t, 1.29 g/t, and 2.89 g/t gold respectively. Gold recoveries to flotation concentrate reached 91.4% for the Fresh composite and 91.0% for the Channel composite.

Mining One Consultants noted that the results demonstrate gravity-recoverable gold can be effectively captured through flotation, potentially simplifying the overall process flowsheet. The testwork further supports the evaluation of a flotation flowsheet incorporating rougher-concentrate regrinding and two stages of cleaning, which is a relatively established and cost-effective processing approach in the gold sector.

Drilling Advances the Pre-Feasibility Study

The drilling program at Sturec remains active, with the current campaign designed specifically to collect the metallurgical, geotechnical, and hydrogeological data required for the completion of the Pre-Feasibility Study. The PFS is the next formal milestone for the project, and the data being gathered in this phase is intended to underpin the engineering assumptions that will define Capital and operating cost estimates.

Slovakia represents an established European mining Jurisdiction with existing gold mining history. The Sturec project's location offers potential proximity to European processing and refining infrastructure, which is a meaningful consideration as European Supply chain concerns grow following geopolitical shifts of recent years.

Sector Context

European gold exploration has attracted renewed attention as governments and investors seek to diversify critical mineral supply chains away from dependence on Russian and Central Asian sources. Slovakia, as a European Union member state, offers regulatory predictability and proximity to established financial markets and processing infrastructure, factors that differentiate it from many frontier exploration jurisdictions.

The gold price has remained elevated through 2026, providing a constructive backdrop for project development companies advancing toward feasibility. For earlier-stage gold developers, achieving high metallurgical recoveries is a critical de-risking step, as processing assumptions directly influence the economic viability of any future mine.

Risks

The Sturec project remains in the pre-feasibility stage, meaning there is no certainty that a viable mine will be developed. Metallurgical testwork on composite samples does not guarantee production-scale outcomes. Permitting timelines in European jurisdictions, while generally predictable, can be lengthy. The company's cash position of $6.134 million at quarter end is modest relative to the capital requirements of bringing a gold project through feasibility and into production. Currency exposure between Australian dollars, Euros, and gold's US dollar pricing adds financial complexity. The company is also navigating a post-rebrand period, meaning its market identity and investor base are still evolving.

What to Watch Next

The release of the Pre-Feasibility Study is the key medium-term catalyst for Global Gold Mining. Progress updates on the drilling campaign, particularly results confirming the geological model and supporting resource estimation, will be closely watched. Any announcement regarding the scope or timeline for the PFS will be a significant development for the stock. Investors should also monitor the company's cash position as it funds ongoing drilling and study work.

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