Vertex Minerals (ASX:VTX) expects soaring gold prices to boost bottom lines at the Reward Gold Mine, 74km north of Bathurst in New South Wales.
Managing Director Roger Jackson tells this news service on the sidelines of the 2026 Gold Coast Gold Conference that a $6,700 gold spot price could bring a “significant” profit margin of up to 237.6%.
“When you are a gold producer and it costs you $2,000 to produce per ounce, every increase in the gold price means more to the bottom line,” he tells Mining.com.au.
“At the moment there is a significant margin in our business in gold, which is fantastic… [and] whilst gold is high, I have no reason why it will not keep that way — it is always nice to have a little bit up our sleeve as far as margin.”
Jackson reveals gold production has started and will gradually ramp up at the mine. A new gravity plant will process ore without using chemicals while coarse sand will become a by-product. Rejected country rock will be recycled as underground backfill.
Vertex earlier appointed Vert Capital Australia as lead manager to help raise $9 million for the mine.
“We will be looking to start getting prepared to drill [and] we have some other projects that we want to refine, including some modification to some machinery so we can do some specialised stoping,” Jackson says.
Vertex has also renegotiated $4.5 million of loans from existing shareholders and friends of the company, some of whom will accept stakes in the company as payment.
“It is always about what will give the best bang for your buck and the conversion prices for these convertible notes are reasonably low,” Jackson says.
“That is beneficial for the company, and it has been a good move.”
The Gold Coast Gold Conference was held over two days (25–26 March 2026) at the QT Hotel in Surfers Paradise, Queensland.
Mining.com.au was a media partner for the event and attended both days.
Vertex Minerals is a gold producer, developer, and explorer with assets in New South Wales’ Bathurst region.
Write to Richard Szabo at Mining.com.au
Images: Stuart Shepherd, Mining.com.au
