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Everest Metals Corporation (ASX:EMC) has lined up plans to accelerate its mining at the Mt Dimer Taipan gold project in Western Australia’s eastern goldfields. The strategy, aimed at generating near-term cash flow without diluting shareholder value, was welcomed by the market; the share price climbed by +2.9%.
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Mark Caruso, Everest’s CEO, said the company’s acceleration strategy has seen more than 25,000 tonnes of ore delivered to the run-of-mine (ROM) pad on the back of successful initial blasts and mining operations.
At the same time, Everest is progressing a drill program of more than 2,000 metres to clarify ore definition, mining sequence and ore- to-waste ratios. The results from that program are expected to be available in early March CY26 – once those results come in, they’ll help support mine planning.
The fast-tracking mining program is being undertaken alongside MEGA Resources, under a right-to-mine agreement signed in October CY25.
Under that agreement, EMC receives up to $18.6M in non-dilutive funding.
“The MEGA Resources team has built impressive momentum across the Mt Dimer Taipan mining activities with ROM stockpiling and further grade control drilling now well advanced,” Mr Caruso explained.
“The efficient progress of mining activities from the MEGA Resources team positions Everest for meaningful near-term cash flow in today’s record-breaking gold price environment, creating real value for our shareholders.”
MEGA began open-pit site preparation back in November, with the first ore extraction achieved in early January CY26.
The deal with MEGA has also ensured the Mt Dimer Taipan operations will all be fully funded via the right to mine agreement up to $18.6 million. At the same time, toll-treatment processing will occur, Everest said, under a 200,000-tonne-per-annum processing agreement at a nearby goldfield facility.
Mr Caruso said drilling is targeting the project’s significant upside, with southern strike still open. “This presents a clear opportunity to add significant gold and silver ounces through targeted follow-up drilling. Further RC drilling is planned to test and unlock extensions along the open southern strike at Mt Dimer, with the primary objective to grow the existing mineral resource,” he declared.
EMC was last at 18cps, after climbing nearly +3% today.
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