Meeka’s underground shift delivers higher gold output and stronger Andy Well grades
Meeka Metals produced 7,237 ounces of gold in the September quarter, up 13% from the previous three months, while Andy Well underground ore continued to exceed reserve-grade expectations. Cash rose to $51 million as the company shifted from open-pit mining towards a two-underground-mine operation.
- 7,237oz of gold produced, up from 6,424oz in June
- 150kt processed at an average 95% recovery
- Andy Well ore delivered at 3.9g/t against a 2.9g/t reserve grade
- Turnberry underground development commenced after open-pit mining ended
- Cash increased to $51 million at 30 September
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September production climbs as plant reaches target rate
Meeka Metals Limited (ASX:MEK) lifted quarterly gold production to 7,237 ounces in the three months to 30 September, up from 6,424 ounces in the June quarter. The Murchison Gold Project processed 150,000 tonnes at an average metallurgical recovery of 95%, with the company saying its plant achieved the targeted annualised throughput rate of 600,000 tonnes.
The result lands within the 7,000 to 7,500-ounce provisional range disclosed during the $40 million institutional placement, which was announced as funding for Turnberry development and other growth activities. Meeka finished the quarter with $51 million in cash, compared with $38 million at 30 June.
Andy Well underground ore continues to outperform reserve grade
The more consequential operating signal came from Andy Well underground mining. During the quarter, 39.5kt at 3.9 grams per tonne gold, equivalent to 4.9koz, was delivered to the run-of-mine pad from the current 1,400mRL to 1,250mRL mining horizon. That compares with an Ore Reserve grade of 2.9g/t for the same horizon.
Since underground mining began at Andy Well, production from this horizon has totalled 129kt at 3.1g/t for 12.8koz, against an Ore Reserve estimate of 477kt at 2.9g/t for 44.5koz. Mining is continuing, although the figures describe performance to date within one defined horizon rather than a revised reserve or a guarantee of future grades.
Turnberry development starts as open-pit feed ends
Meeka ceased open-pit mining in July and has now started development of its second underground mine at Turnberry. The transition makes underground stope productivity the immediate execution test: chief executive Tim Davidson said the company is focused on increasing the volume of higher-grade underground ore as it opens up the mine and adds active stoping fronts.
The processing expansion had already reached around 600,000 tonnes per annum in the company’s 600ktpa plant upgrade, while the September update says throughput has now reached its targeted rate. The next quarterly report, expected in the second half of October, should provide the fuller operating and financial detail behind this preliminary snapshot, including how the change in feed mix affects costs and cash generation.
Bottom Line?
The quarter shows stronger output, reserve-grade reconciliation and a larger cash buffer, but the next test is whether Turnberry development and higher underground stope volumes can sustain that improvement after open-pit mining has ended.
Questions in the middle?
- Can Andy Well maintain above-reserve grades as mining moves through the current horizon?
- How quickly will Turnberry development add dependable underground feed to the plant?
- What will the final quarterly report reveal about costs, cash generation and the effect of the open-pit shutdown?
Sources
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September 2026 Quarter Update (opens in a new tab)Verified source. Meeka Metals Limited · 9 Oct 2026
