Everlast Minerals has made significant strides in its Bangladesh mineral sands projects, progressing pilot production at Gaibandha while securing a new 4,000-hectare exploration licence at Kurigram, supported by government land handover and workforce safety initiatives.
- Pilot production optimisation underway at Gaibandha
- New 4,000ha Kurigram exploration licence granted
- Government completes land demarcation for Kurigram site
- Workforce training and safety readiness enhanced
- Maintains strong financial position with $3.94 million cash
Pilot Production Progress at Gaibandha
Everlast Minerals Ltd (ASX:EV8) has continued advancing pilot production at its flagship Gaibandha Mineral Sands Project during the March quarter, focusing on optimising wet and dry processing circuits to improve recovery rates and product quality. These efforts are critical in refining process flowsheets to support potential scale-up and commercial development. Concurrent metallurgical test work with prospective off-take and trading partners is underway, aiming to solidify future commercialisation pathways.
In tandem, the company is engaging with equipment manufacturers to expand wet plant capacity, a move designed to increase pilot throughput and readiness for scaling to production levels. This operational momentum builds on earlier infrastructure investments, including a 500kW power connection secured in January 2026, which strengthened project viability and regulatory compliance in Bangladesh.
Expansion of Mineral Sands Portfolio with Kurigram Licence
Everlast’s portfolio received a substantial boost with the granting of a new exploration licence covering approximately 4,000 hectares at Kurigram in northern Bangladesh. The licence area, situated within the Brahmaputra-Jamuna river system and well-served by road and rail infrastructure, complements the Gaibandha Project by broadening the company’s exposure to prospective mineral sands regions.
Following the licence grant, the Bangladesh Government completed formal land demarcation and site handover, a process involving the Bureau of Mineral Development and Ministry of Land. This official handover authorises Everlast to commence on-ground exploration activities, including mapping, sampling, and geophysical surveys, aimed at delineating economically viable deposits. The milestone reflects strong in-country support and operational progress, building on the company’s earlier achievement of securing the Kurigram site boundary demarcation in March 2026.
Workforce Development and Safety Initiatives
Recognising the importance of operational safety and compliance, Everlast advanced workforce training programs during the quarter. These initiatives focus on embedding industry-standard safety procedures, site-specific protocols, and induction processes aligned with best-practice health, safety, and environmental standards. The company’s commitment to a strong safety culture underpins its readiness to scale activities responsibly as exploration and pilot production intensify.
Financial Position and Capital Management
Everlast reported exploration expenditure of $539,000 for the quarter, primarily directed towards works planning and pilot production initiatives. The company maintained a robust cash position with $3.94 million in cash and equivalents as of 31 March 2026, reflecting prudent capital management and minimal spend during the period. This financial flexibility supports the company’s near-term priorities, including pilot production optimisation, metallurgical testing, wet plant capacity expansion, and exploration commencement at Kurigram.
These developments build on the company’s successful $6 million IPO in late 2025, which provided the foundational capital to advance its mineral sands ambitions in Bangladesh. The current operational and strategic progress positions Everlast to capitalise on growing demand for mineral sands, a sector increasingly vital for global industrial applications.
Bottom Line?
Everlast Minerals is methodically advancing its Bangladesh projects with pilot production scaling and exploration expansion, setting the stage for key commercial milestones in the coming quarters.
Questions in the middle?
- How will pilot production optimisation at Gaibandha translate into commercial-scale outputs?
- What early results will emerge from exploration activities at the newly granted Kurigram licence?
- How might evolving metallurgical test outcomes influence potential off-take agreements?