Javelin Minerals has lodged its Mining Proposal for the Eureka Gold Project, setting the stage for mining to commence in mid-2026 and first cashflow by Q3. Fully funded and partnered with MEGA Resources, the project is on track to unlock value in Western Australia’s prolific goldfields.
- Mining Development and Closure Proposal lodged with WA authorities
- Mining scheduled to start in Q2 2026, first cashflow expected in Q3 2026
- MEGA Resources providing $25 million financing and mining services
- Ore processing agreements progressing for Q3 2026 start
- Recent drilling supports mine planning and resource expansion
Regulatory Milestone Achieved
Javelin Minerals Limited (ASX – JAV) has taken a significant step forward in advancing its Eureka Gold Project near Kalgoorlie by lodging the Mining Development and Closure Proposal with the Western Australian Department of Mines, Petroleum and Exploration. This submission aligns with the company’s timeline to commence mining operations in the June quarter of 2026, marking a crucial regulatory milestone that clears the path toward production.
Strategic Partnership and Financing
Central to the project’s momentum is Javelin’s partnership with MEGA Resources, a well-established mining services provider in the Goldfields region. MEGA is not only contracted to deliver geological, engineering, mining, and transport services but is also injecting $25 million in project financing. This capital commitment fully funds the Eureka Gold Project through to production and positive cashflow, mitigating financial risk and underscoring confidence in the project’s viability.
Operational Plans and Cashflow Outlook
Ore processing is targeted to begin in the September quarter of 2026, with discussions ongoing with nearby mill operators to finalise arrangements. The commencement of processing will trigger monthly payments of $250,000 from MEGA to Javelin, providing a steady cash inflow. This phased approach; from mining start in Q2 to processing and cashflow in Q3; reflects a pragmatic timeline designed to optimise operational ramp-up and financial returns.
Resource Base and Exploration Strategy
The Eureka Gold Project boasts a robust mineral resource, with an indicated resource of 1.36 million tonnes at 1.8 grams per tonne gold, equating to approximately 78,678 ounces, within a total JORC resource of 2.04 million tonnes at 1.69 grams per tonne for 110,687 ounces. Recent drilling programs, including a 1,100-metre diamond drilling campaign completed by TopDrill, have provided critical geotechnical and metallurgical data to refine pit designs and processing plans. Furthermore, a reverse circulation drilling program scheduled for February 2026 aims to test extensions of mineralisation, potentially expanding the resource and enhancing mine life.
Looking Ahead
With regulatory approvals underway, financing secured, and operational partnerships in place, Javelin Minerals is positioning the Eureka Gold Project for a timely and efficient transition into production. The next phases will be closely watched by investors eager to see how drilling results and processing agreements evolve, potentially shaping the project’s long-term economic outlook.
Bottom Line?
Javelin’s Eureka project is poised to deliver its first gold and cashflow in 2026, but upcoming drilling and processing deals will be key to sustaining momentum.
Questions in the middle?
- Will the February 2026 drilling program extend the resource and improve mine economics?
- What are the final terms and timing of ore processing agreements with local mills?
- How will MEGA Resources’ operational role influence project execution and costs?