Everest Metals is set to begin toll processing at its Mt Dimer Gold Project in September 2026, backed by strong mining progress and promising high-grade drill results.
- Toll processing to start September 2026 at Medallion Metals facility
- Over 130,000 tonnes stockpiled on ROM pad
- Non-dilutive funding secured via Right to Mine Agreement with MEGA
- High-grade drilling results suggest resource expansion potential
- Mining and grade control drilling advancing in tandem
Toll Processing Agreement Finalised for Mt Dimer
Everest Metals Corporation Ltd (ASX:EMC) is gearing up to commence toll processing of ore from its Mt Dimer Taipan Gold Project in September 2026. The company has secured a 200,000 tonne toll-treatment agreement with MEGA Resources, which will see material processed at Medallion Metals’ Cosmic Boy facility, approximately 350 km from the mining site. This agreement marks a critical commercial milestone, underpinning EMC’s strategy to fast-track gold production through a low-capex, toll-processing model.
Mining Progress Accelerates with Significant Stockpiling
Mining operations at Mt Dimer have advanced steadily, with more than 130,000 tonnes of ore now stockpiled on the run-of-mine (ROM) pad. Initial blasts and free-dig activities began in late 2025, and first ore extraction was achieved in January 2026. Grade control drilling continues alongside mining, providing detailed insights into recoverable ounces and supporting potential expansion of the mining pit. The ongoing drilling campaign has delivered encouraging high-grade intercepts, including standout results such as 7 metres at 16.1 g/t gold and 12 metres at 6.2 g/t gold, which hint at further upside in resource growth.
Funding Model Minimises Shareholder Dilution
The Mt Dimer project’s development is funded through a non-dilutive Right to Mine Agreement with MEGA Resources, executed in October 2025. This arrangement provides EMC with access to mining expertise and capital without immediate equity dilution, a notable advantage as the company pushes toward near-term cash flow generation. Executive Chairman and CEO Mark Caruso highlighted that this partnership has accelerated development activities and positioned EMC to capitalise on gold price movements.
Resource Base Supports Future Expansion
Mt Dimer’s Mineral Resource Estimate remains open along the northern strike, offering potential to add gold and silver ounces through targeted follow-up drilling. The current inferred resource stands at 722,000 tonnes grading 2.1 g/t gold for nearly 48,545 ounces, with silver also present at 3.84 g/t. The consolidation of mining leases and exploration tenements since EMC’s acquisition in 2020 has created a solid landholding with strong synergies for ongoing exploration and development.
Strategic Positioning in Eastern Goldfields
Located 150 km northwest of Kalgoorlie and 120 km northeast of Southern Cross, Mt Dimer sits in Western Australia’s prolific Eastern Goldfields region. EMC’s approach to advancing this project reflects a broader industry trend of leveraging toll processing to reduce upfront capital expenditure while maintaining operational flexibility. The company’s ongoing drilling program and mining progress will be closely watched as it moves toward first gold production.
Bottom Line?
EMC’s upcoming processing start and continued drilling results will be key indicators of the Mt Dimer project’s ability to deliver near-term production and resource growth without diluting shareholders.
Questions in the middle?
- Will the high-grade drilling intercepts translate into a meaningful resource upgrade in the coming months?
- How will gold price fluctuations impact the economics of the toll-processing model at Mt Dimer?
- What are the logistical challenges and costs associated with transporting ore 350 km to the Cosmic Boy facility?