Can Native Mineral Resources Sustain Momentum After Record Gold Pour?

Record Gold Pour Signals Strong Start to 2026

Native Mineral Resources Holdings Limited (ASX, NMR) has delivered a standout operational update with a record gold doré pour of 1,474.9 ounces at its Blackjack Gold Operations in northern Queensland. Completed on 28 January 2026, this marks the highest single smelt production to date for the company, underscoring the growing momentum at Blackjack as it enters the new year.

The recent smelt follows a 178.7 oz pour on 7 January, with refinery assays confirming gold content around 60%. While assay results for the latest pour are pending, the company has already generated over A$10 million in gold revenue from pours since early January, reflecting both scale and quality of output.

Operational Advances and Mine Development

Following a comprehensive mine design review, Native Mineral Resources has recommenced drill and blast activities this month, with mining operations scheduled to restart imminently at Blackjack Pit. This phase aims to ensure a steady feed to the mill and maintain production consistency. To support this, the company has bolstered its technical services team, enhancing capabilities in mine planning, scheduling, geology, and grade control, critical functions for safe and efficient operations.

On the environmental and infrastructure front, the Tailings Storage Facility (TSF) Stage 3 Lift is nearing completion and certification, while design work for Stage 4 Lift and a new TSF development are underway. These upgrades are essential for meeting medium- to long-term operational requirements and regulatory compliance.

Regional Growth and Strategic Planning

Beyond Blackjack, Native Mineral Resources is advancing its broader regional portfolio. Drilling is set to commence shortly at the Podosky prospect within the Ravenswood Gold Project joint venture with Haoma Mining, supporting near-term production goals. Meanwhile, the Far Fanning deposit at Charters Towers remains on track for mining targeted in the fourth quarter of 2026.

The company is also undertaking a structured strategic planning process across all regional leases, including Granite Castle and Great Britain deposits. This integrated approach aims to optimise drilling priorities, mine sequencing, approvals, and infrastructure development to underpin sustainable growth in the region.

Managing Director and CEO Blake Cannavo emphasised the significance of the record pour as a foundation for consistent performance, while highlighting the company’s commitment to a disciplined, long-term growth strategy across its Queensland assets.