Join our daily newsletter At The Bell to receive exclusive market insights
- Five doré bars smelted at Blackjack mine in Queensland.
- Part of first gold production since Blackjack mining recommenced earlier this month.
- Latest pour provides evidence of a grade uplift expected from mining restart.
- Mining fleet mobilised at Podosky.
Native Mineral Resources (ASX:NMR) has poured a further five doré bars, totalling 315 ounces, as part of the restart of gold production at its Blackjack processing plant in northern Queensland that recommenced in April.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Native’s managing director and CEO, Blake Cannavo, said the doré pour in the first nine days since restarting at Blackjack is an “encouraging early result.”
“It provides the first clear evidence of the production improvement we expected following the restart of mining at Blackjack on April 9, with mining now at Blackjack South Stage 2a,” Mr Cannavo said today.
“As higher-grade fresh material progressively replaces lower-grade Far Fanning stockpile material in the plant feed blend, we expect to see continued improvement in plant feed grade and gold production performance.”
Including two bars smelted on April 8, cumulative doré production for the month now totals approximately 530 ounces across seven bars, Native confirmed.
Total cumulative doré production since plant recommissioning in mid-July CY25 now stands at approximately 8,272 ounces (smelt weight) across 55 bars, with approximately 2,387 ounces of gold outturn confirmed to date.
NMR told shareholders that plant performance has remained consistent, with around 94% to 96% recovery and mill utilisation averaging approximately 84%.
Freshly mined Blackjack material is expected to positively impact doré production, as higher-grade material progressively replaces lower-grade Far Fanning stockpile material in the plant feed blend.
Mr Cannavo also reported site establishment and mining fleet mobilisation have commenced at the Podosky project in northern Queensland. “We have moved from planning into execution at Podosky, 75km from Blackjack, with site establishment and the mining fleet now mobilised,” he said.
With first feed from Podosky on track, NMR is positioning itself to operate with two active plant feed sources into the Blackjack plant, giving the company greater flexibility in blend optimisation and supporting our objective of progressively strengthening gold production through the balance of 2026.”
Initial drill and blast activities are progressing as planned, with first stripping and mining to follow. First haulage from Podosky to the Blackjack ROM pad remains on track for late April.
“The addition of Podosky as a second active plant feed source will provide NMR with increased flexibility in managing plant feed grade and blend optimisation at Blackjack, supporting the company’s objective of progressively improving gold production through the balance of 2026,” Mr Cannavo said.
NMR is steady at 5.1¢ this morning. Mkt cap $56.03M.
Join the discussion: See what HotCopper users are saying about Native Mineral Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
