Can Vertex Overcome Rehabilitation Delays to Sustain Reward Gold Mine’s Ramp-Up?
Vertex Minerals has advanced its underground gold production at the Reward Gold Mine, commissioning tele-remote mining systems and securing $4.5 million in loan facilities to support its ramp-up phase.
- Two active stoping fronts at Reward Gold Mine
- Commissioning of tele-remote mining systems for safer operations
- First production firing of high-grade longhole stope at 16.6 g/t Au
- Execution of $4.5 million loan facilities to support development
- Application lodged for Dun Dun exploration licence to expand landholding
Operational Progress at Reward Gold Mine
Vertex Minerals Limited has reported significant progress in its transition from early underground production to a multi-front operation at the Reward Gold Mine in New South Wales. During the December 2025 quarter, the company expanded stoping activities across the Lady Belmore Reef and Mica vein systems, with two active stoping fronts by quarter-end. This marks a pivotal phase as Vertex moves towards steady-state production.
Notably, Vertex commissioned tele-remote mining systems, including Aramine 350D loaders equipped for remote operation. This technology enables safer longhole stoping and remote bogging beneath open stopes, reducing risk to personnel. The first production firing of the high-grade 640 - MIST 1618N longhole stope yielded approximately 80 tonnes of ore at an impressive grade of 16.6 grams per tonne of gold, signalling the commencement of mechanised longhole stoping within the Lady Belmore Reef.
Processing and Financial Developments
The Reward gravity-only processing plant operated consistently on underground ore throughout the quarter, with optimisation efforts bringing throughput close to design capacity. Gold sales for the quarter totalled around A$751,000, reflecting the ramp-up in production and processing.
To support ongoing development and working capital needs, Vertex executed $4.5 million in loan facilities, with $1.2 million remaining undrawn at quarter-end. These funds provide the company with financial flexibility as it navigates the production ramp-up phase. The company maintained a cash balance of approximately A$1.5 million, underscoring a cautious but steady financial footing.
Strategic Expansion and Corporate Changes
In addition to operational advances, Vertex lodged an application for the Dun Dun exploration licence, strategically positioned between its Reward and Hargraves project areas. This move aims to consolidate tenure along the Hill End gold corridor, potentially unlocking further mineralisation opportunities.
On the corporate front, the company appointed experienced mining executive Jim Simpson as a Director, bringing valuable expertise to support the production ramp-up. Meanwhile, former Director Declan Franzmann retired, having contributed significantly to the company’s development phase.
Looking Ahead
While Vertex continues to face challenges such as unplanned rehabilitation work slowing access to productive stopes, the company remains committed to safety and operational efficiency. With multiple mining fronts active, tele-remote systems operational, and a clear development pathway, Vertex is well positioned to build momentum through 2026. The focus will be on increasing stoping rates, integrating additional ore sources, and further de-risking the operation to achieve sustained production growth.
Bottom Line?
Vertex Minerals’ successful integration of tele-remote mining and secured funding sets the stage for a critical ramp-up phase at Reward Gold Mine.
Questions in the middle?
- How quickly can Vertex scale production to steady-state levels given current rehabilitation challenges?
- What impact will tele-remote mining have on operational costs and safety metrics long term?
- Will the Dun Dun exploration licence application lead to significant resource expansion along the Hill End corridor?
