Vertex Minerals Commences Gold Ore Processing at Reward Gold Mine

Key Highlights

• Gold ore processing has begun at Vertex's Reward Gold Mine gravity plant.
• Visible gold concentrate achieved; commercial sales expected February 2025.
• The eco-friendly plant features state-of-the-art automation and minimal environmental impact.
• Vertex Minerals (ASX: VTX) stock surged 13.04%, closing at $0.26.

Vertex Minerals Limited (ASX:VTX) has officially commenced gold ore processing at its Reward Gold Mine, achieving a significant milestone in under a year since releasing its Pre-Feasibility Study (PFS). The high-grade gravity gold plant has successfully produced visible gold concentrate, marking a step closer to full-scale commercial production.

A Smooth Transition to Operation

The processing facility has been rebuilt, refurbished, and installed with remarkable efficiency, transitioning from wet commissioning to initial ore processing. The plant’s debut run utilized stockpiled gold ore, with the first commercial gold sale anticipated next month.

Vertex Minerals’ (ASX:VTX) Executive Chairman, Roger Jackson, commended the team for their achievement, stating, “The ore commissioning of this project in under 12 months of releasing the PFS is a tremendous achievement. We look forward to running one of Australia’s most unique and environmentally sympathetic gold plants.”

Advanced and Eco-Friendly Operations

The Reward Gold Mine's processing plant boasts cutting-edge features that differentiate it from traditional mining facilities:

• Gravity-Only Processing: Eliminates the need for chemicals like cyanide, minimizing environmental impact.
• Low Energy Consumption: No ball mill required, reducing power usage.
• Water Efficiency: 50% less water used, with recycling systems in place.
• Dry Stack Tailings: No tailings dam, ensuring minimal land disturbance.
• Automated and Ergonomic Design: Requires only two operators plus a gold room technician, optimizing operational costs.

These advancements align with the company’s commitment to sustainable and efficient resource extraction.

Ore Sorter Installation Ahead of Schedule

An additional highlight is the installation of the ore sorter module, expected to be operational by early February. This high-tech addition will enhance processing efficiency by increasing grade and reducing throughput by up to 50%, further optimizing the plant’s performance.

Key personnel and operational systems are already in place, including plant operators, a gold room technician, and an environmental officer. With essential infrastructure such as power, water systems, and a jaw crusher already integrated, the plant is well-positioned for a seamless transition to commercial production.

Commercial Gold Sales in Sight

The first commercial gold sales are projected for February 2025, facilitated by a refining agreement with ABC Bullion in Sydney. The Reward Gold Mine is set to generate significant cash flow, strengthening Vertex Minerals’ (ASX:VTX) position in the Australian gold mining sector.

Vertex Minerals Stock Movement: A Closer Look

Vertex Minerals (ASX: VTX) has been making waves on the ASX, with its stock price surging 13.04% to close at $0.26 on January 20, 2025. This growth is underpinned by positive developments at its Reward Gold Mine, bolstered by investor confidence in its operational milestones and eco-conscious approach.

Key Stock Data:

• 52-Week Range: $0.074 - $0.280
• Market Cap: $47.55M
• Volume: 1.51M (vs. 4-week average of 503,405)
• 1-Year Return: +101.84%, significantly outperforming the ASX 200 by +89.36%.

The company’s 40.54% gain over the last month highlights strong market momentum, driven by tangible progress at the Reward Gold Mine. This trend positions Vertex Minerals as a compelling opportunity for investors seeking exposure to innovative and sustainable mining practices.

What’s Next?

As commissioning progresses, Vertex Minerals (ASX:VTX) plans to refine plant operations, train personnel, and achieve optimal production efficiency. The integration of advanced technology and sustainable practices underscores the company’s forward-thinking approach to gold mining.

The Reward Gold Mine, situated adjacent to an established underground portal, combines strategic infrastructure with innovative processing methods. With no requirement for additional stripping and existing services in place, the site is poised for a simple yet impactful start-up.

This not only reflects Vertex Minerals’ (ASX:VTX) operational prowess but also positions the Reward Gold Mine as a model for eco-conscious mining in Australia. Vertex Minerals’ (ASX:VTX) commencement of gold ore processing at the Reward Gold Mine is a landmark moment. Combining innovation, sustainability, and efficiency, the company is poised to make a significant impact in the mining industry.