Everest Metals Corporation has officially commenced mining operations at its Mt Dimer Taipan Gold Project in Western Australia, backed by a fully funded agreement with MEGA Resources. Ore extraction is underway with processing set to begin in March 2026, positioning the company for near-term cash flow.
- Mining operations started at Mt Dimer Taipan Gold Project
- MEGA Resources providing up to A$18.6 million in non-dilutive capital
- Ore extraction began November 2025; toll treatment scheduled for March 2026
- Inferred mineral resource of 48,545 ounces gold and 89,011 ounces silver
- Zero upfront costs to Everest Metals under Right to Mine Agreement
Mining Operations Commence at Mt Dimer
Everest Metals Corporation Ltd (ASX, EMC) has taken a significant step forward by officially launching mining operations at its Mt Dimer Taipan Gold Project in Western Australia. Located roughly 150 kilometres northwest of Kalgoorlie, the project has transitioned swiftly from exploration to production, with ore extraction underway since late November 2025.
This milestone follows a series of preparatory activities, including resource upgrade drilling and securing final approvals. The company’s partnership with MEGA Resources Pty Ltd has been instrumental, with MEGA committing up to A$18.6 million in non-dilutive capital under a Right to Mine Agreement. This funding structure allows Everest Metals to avoid upfront capital expenditure, instead reimbursing operational costs from cash flow and sharing net surplus equally.
Resource Base and Processing Plans
The Mt Dimer Taipan project hosts an inferred mineral resource estimated at 722,000 tonnes grading 2.10 grams per tonne gold, equating to approximately 48,545 ounces of gold, alongside 3.84 grams per tonne silver, or 89,011 ounces. These figures underpin the project’s potential to generate meaningful near-term revenue.
Ore extracted from the open pit is slated for toll treatment at a Kalgoorlie facility with a capacity of 200,000 tonnes per annum, starting March 2026. This arrangement streamlines the pathway from mining to production without the need for Everest Metals to invest in its own processing infrastructure, further reducing capital risk.
Strategic Partnership and Market Timing
Everest Metals’ Executive Chairman and CEO, Mark Caruso, highlighted the rapid progression from exploration drilling to active mining in under four months, attributing this to the company’s operational execution and the strength of its partnership with MEGA Resources. With gold prices remaining robust, the timing positions Mt Dimer well to deliver positive cash flow in the near term.
The project’s history dates back to 1992, with Everest Metals acquiring the tenements in 2020. The recent resource upgrade and commencement of mining mark a new chapter, moving the company from a development phase into production.
Looking Ahead
As mining operations ramp up and toll treatment begins, Everest Metals is set to demonstrate the commercial viability of Mt Dimer. The non-dilutive funding model with MEGA Resources mitigates financial risk while enabling the company to focus on operational delivery and resource expansion potential.
Investors will be watching closely for production updates and cash flow reports, which will provide clearer insight into the project’s profitability and potential for future growth.
Bottom Line?
Mt Dimer’s transition to production under a fully funded model sets Everest Metals on a promising path, but execution and market conditions will be key to unlocking value.
Questions in the middle?
- How will actual production volumes and grades compare to the inferred resource estimates?
- What are the terms and duration of the Right to Mine Agreement with MEGA Resources beyond initial funding?
- Could Everest Metals expand Mt Dimer’s resource base or explore nearby prospects to extend mine life?