How Javelin Minerals Plans to Kickstart Eureka Gold Mining in 2026

Progress Towards Production

Javelin Minerals Limited has reported significant strides in bringing its Eureka Gold Project in Western Australia into production, aiming to commence mining operations by June 2026. This progress is anchored by a 50/50 Right to Mine Agreement with MEGA Resources, an Australian subsidiary of Bain Global Resources, which will provide turnkey mining services and up to $25 million in project financing. The arrangement allows MEGA to fund development and working capital at its own risk, with repayments sourced solely from project revenues, relieving Javelin of upfront capital burdens.

The partnership is structured to share profits from the initial 78,678 ounces of mineable gold equally, with Javelin retaining the right to mine additional resources on a 70 – 30 profit share basis. Advance payments of $250,000 per month from MEGA will be credited against Javelin’s share of profits once ore processing begins, expected in the third quarter of 2026.

Exploration and Regulatory Milestones

During the quarter, Javelin submitted a new Mining Lease Application to enlarge the existing Eureka pit, aiming to maximize mineable ounces within the JORC indicated resource of 1.36 million tonnes at 1.8 grams per tonne gold. Complementing this, a geotechnical diamond drilling campaign was completed to support pit design and metallurgical characterisation, with follow-up reverse circulation drilling scheduled to test priority targets, including depth extensions beneath the existing pit and high-grade zones to the north.

Crucially, Javelin executed a Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group, covering both the Eureka and Coogee Gold Projects. This agreement resolves Native Title compensation obligations and provides a framework for cultural heritage protection, employment opportunities, and contracting benefits for the local Indigenous community, clearing a key regulatory hurdle for project advancement.

Exploration Upside at Coogee

Beyond Eureka, Javelin’s internal geological review at the Coogee Gold Project revealed substantial exploration potential. Large geophysical anomalies correlate with known alteration assemblages and historic gold-copper mineralisation, particularly at Coogee North and West. These findings have led to a planned drilling program commencing in early 2026 to test newly identified gold and copper targets, potentially expanding the company’s resource base in the Eastern Goldfields region.

Financial Position and Corporate Actions

Javelin ended the quarter with a robust cash balance of approximately $4.2 million, supporting ongoing exploration and development activities. The company also completed a 1-for-31 share consolidation to streamline its capital structure and implemented an unmarketable parcel share sale facility to assist small shareholders in managing their holdings without brokerage costs.

While mining production has yet to commence, the groundwork laid through strategic partnerships, regulatory approvals, and exploration programs positions Javelin Minerals to transition from explorer to producer within the next 12 months.