Native Mineral Resources Boosts Gold Output and Advances Key JV Plans
Native Mineral Resources reports steady gold production at Blackjack with 1,300 ounces yielded and $7.6 million revenue, while advancing regulatory and joint venture developments.
- Approximately 1,300 ounces of gold produced at Blackjack since start-up
- Gross revenue of about $7.6 million generated from gold pours
- Plant recovery rate remains strong at 95.2%
- Stage 3 tailings storage facility lift 95.1% complete, capacity secured through Q2 2027
- Far Fanning and Haoma JV progressing with regulatory approvals and planned drilling in early 2026
Steady Gold Production at Blackjack
Native Mineral Resources Holdings Limited (ASX – NMR) has delivered a robust operational update highlighting ongoing progress at its Blackjack Gold Operations. Since commencing production, the company has poured approximately 1,300 ounces of gold, generating around $7.6 million in gross revenue. Recent gold pours on 3 and 10 December 2025 underscore a trend toward more consistent output, with the next pour scheduled for 22 December.
Plant performance remains a standout feature, with metallurgical reconciliation reporting a strong 95.2% recovery rate and a stable processing circuit. These metrics suggest that the operation is running efficiently, underpinning confidence in the next phase of development.
Infrastructure and Capacity Expansion
Critical infrastructure upgrades are progressing well, notably the Stage 3 lift of the Blackjack Tailings Storage Facility (TSF), which is 95.1% complete. This expansion is expected to provide tailings capacity through to approximately Q2 2027, aligning with current production forecasts. Preparations for the Stage 4 lift and a new TSF design are underway, aiming to extend operational flexibility beyond 2027.
Advancing Far Fanning and Haoma JV Developments
Beyond Blackjack, Native Mineral Resources is actively advancing its Far Fanning operations. The company has hauled 37,000 tonnes of stockpiles to the Blackjack processing plant, with haulage continuing through to December 2026 in compliance with environmental orders. Regulatory workstreams are progressing, including preparation for a progressive rehabilitation and closure plan (PRCP) submission targeted for Q2 2026.
Meanwhile, the Haoma joint venture is moving forward with due diligence and lease prioritisation. Engagements with Queensland’s Department of Environment, Tourism, Science and Innovation (DETSI) and Native Title representatives are ongoing. Drilling and mine planning activities are slated to commence in Q1 2026, positioning the JV as a significant medium-term growth opportunity for Native Mineral Resources.
Looking Ahead
Operationally, the company is preparing to transition mining activities within Blackjack from the South to the North area by mid-2026, aligning with Far Fanning’s readiness to supply ore. Continuous plant optimisation efforts, including automation and process control enhancements, aim to increase throughput and energy efficiency, further stabilising production.
Overall, Native Mineral Resources is demonstrating a balanced approach, combining steady production with strategic infrastructure and regulatory progress. This positions the company well to sustain and potentially grow its footprint in the Charters Towers gold district.
Bottom Line?
With solid production and strategic JV developments underway, Native Mineral Resources is poised for sustained growth, next focus on regulatory approvals and drilling outcomes.
Questions in the middle?
- What will be the final gold outturn from the 10 December pour and its impact on revenue forecasts?
- How will regulatory approvals for Far Fanning’s PRCP influence the timeline for full-scale operations?
- What are the key risks and opportunities emerging from the Haoma JV drilling and mine planning scheduled for early 2026?
