Native Mineral Resources Surpasses $4M Cash Milestone, Eyes Higher-Grade Ore Boost
Native Mineral Resources has generated over $3 million in cash from September gold sales at its Blackjack operation, marking a key milestone as it prepares to shift to higher-grade ore processing in October.
- Second gold pour in September produced 393 ounces of gold doré bars
- September cash receipts exceeded $3 million, total cash since July surpasses $4 million
- Processing transition from mineralised waste to higher-grade Blackjack and Far Fanning ore starting October
- Month-to-date metallurgical recovery rate of 95.96% at Blackjack
- Further smelting planned for mid and late October
Strong September Performance at Blackjack
Native Mineral Resources Holdings Limited (ASX, NMR) has marked a significant operational milestone with the completion of its second gold pour in September 2025 at the Blackjack Gold Operations in Queensland. The company produced three gold doré bars totaling 393 ounces, generating over $3 million in cash receipts for the month. Since commencing production on 30 July 2025, Native Mineral Resources has now received more than $4 million in cash, underscoring the early success of its ramp-up phase.
Transition to Higher-Grade Ore Processing
The recent gold pour was sourced from blended mineralised waste material, a strategy employed during the initial ramp-up. However, from October onwards, the company plans to cease processing mineralised waste and shift its focus to higher-grade ore from the Blackjack pit, blended with material from the nearby Far Fanning deposit. This strategic pivot is expected to enhance production volumes and revenue streams, reflecting confidence in the quality and potential of these ore sources.
Operational Efficiency and Future Outlook
September’s operational metrics reveal a robust month-to-date metallurgical recovery rate of 95.96%, highlighting the efficiency and stability of the processing circuit at Blackjack. This performance provides a solid foundation as Native Mineral Resources prepares for further smelting activities scheduled for mid and late October. The company also plans to release a detailed metallurgical reconciliation report, which will offer deeper insights into throughput, grade, recovery, and shipment data.
Management Perspective
Managing Director and CEO Blake Cannavo expressed optimism about the company’s trajectory, noting that the transition to higher-grade ore feed is anticipated to drive higher outputs and strengthen cash flow. He praised the team’s efforts in reaching this pivotal stage and highlighted the growth opportunities that lie ahead as Native Mineral Resources moves beyond its initial ramp-up phase.
Bottom Line?
As Native Mineral Resources shifts to higher-grade ore, investors will watch closely to see if production and revenue gains meet expectations.
Questions in the middle?
- How will the shift to higher-grade ore impact overall production costs and margins?
- What are the expected timelines and volumes for the upcoming October smelting campaigns?
- Will the forthcoming metallurgical reconciliation report confirm sustained recovery rates and operational stability?
