Native Mineral Resources (ASX:NMR) has ramped up operations at the Blackjack Gold Project in Queensland, after completing two gold smelts which produced five gold doré bars totalling 700 ounces.
The gold doré will be collected by IBI Logistics tomorrow (16 September), with refining to bullion at ABC Refinery.
To date, Blackjack has processed 12,488 dry metric tonnes as the ramp up of the processing plant continues.
Native Mineral, which has a market capitalisation of $137.31 million, says the next gold pour is scheduled for late September 2025, with blended feed from Blackjack and Far Fanning stockpiles.
CEO Blake Cannavo says this is a clear step forward as the company moves from ramp up into steady production.
“With a strong overall recovery of 94.66%, the plant is performing well and giving us confidence to lift throughput further,” Cannavo says.
“Later this month we will pour again, this time blending in material from Far Fanning, which marks the start of the next growth phase.”
According to Trading Economics, gold fell to US$3,639.47 per ounce at the end of last week (14 September), representing a 0.08% decrease from the previous day.
Over the past month, gold’s price has increased 9.09% and is up 40.86% compared to the same time last year.
Write to Aaliyah Rogan at Mining.com.au
Images: Native Mineral Resources
