The company plans to toll treat around 200,000tpa of ore at a nearby Kalgoorlie facility. Pic: Getty Images
- EMC starts gold mining at West Australian project
- Th project is fully funded under the right to mine agreement with MEGA Resources
- Recent drilling from the project indicates resource upgrade potential
Special Report: Everest Metals Corporation has started mining its Mt Dimer Taipan gold project northwest of Kalgoorlie in WA.
The project hosts an inferred resource of 722,000t at 2.10g/t gold (48,545oz Au) and 3.84g/t silver (89,011oz Ag).
Importantly, Mt Dimer is fully funded under a Right to Mine Agreement with MEGA Resources to fund up to $18.6 million in non-dilutive capital.
This means there’s no upfront costs to Everest Metals (ASX:EMC) with operational cash flow reimbursing expenses and net surplus shared 50/50.
It’s also great timing with prices for gold and silver sitting at AUD$6,780/oz and AUD$121/oz respectively.
Toll treatment starts in March
EMC says kicking off mining marks the culmination of efficient groundwork, including the recent resource upgrade drilling, propelling Mt Dimer into active production.
The toll treatment of ore is set to begin in March 2026 under a ~200,000 tonnes per year agreement.
“In under four months from receiving final approvals we’ve transitioned from exploration drilling to active mining – a clear demonstration of our team’s execution capability and the strength of our MEGA partnership,” EMC executive chairman and CEO Mark Caruso said.
“With mining now underway and toll-treatment on the horizon, Mt Dimer is perfectly positioned to deliver near-term cashflow in a very strong gold market.”
The project sits 150km northwest of Kalgoorlie and 120km northeast of Southern Cross.
This article was developed in collaboration with Everest Metals Corporation, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
