GBM Gold Ltd. reported earnings results for the half year ended December 31, 2013. The loss after income tax, amounted to $2,197,379 against loss of $2,299,663 for the same period a year ago. The loss was incurred due primarily to the non-operation of the Inglewood mine whilst the company finalised the re- negotiation of the part sale of the INGMCo subsidiary and commenced the refurbishment of the Inglewood processing plant and also the re-instatement of depreciation on the Inglewood mine and processing assets of $643,000 that related to the fiscal year 2013 financial period.

The six month period ending 31 December 2013 result excludes the minority interest loss of $156,527 of Wilshire Asset Management Ltd. who acquired a 50% interest in the subsidiary company Inglewood Gold Mining company Pty Ltd. on 1st December 2013. The six month period ending 31 December 2012 result includes accounting for the Group's interest in 'INGMCo' as a 'disposal group held for sale'.