en.Wedoany.com Reported - Vertex Minerals sold 113 ounces of gold in June 2026, setting a monthly sales record. The company's Reward Gold Mine in New South Wales, Australia, is gradually ramping up production and is expected to reach full capacity by October.
The sale generated $670,000 in revenue. During the month, the company produced 84.8 ounces of gold from the historic Hill End goldfield. Ongoing mill improvements have increased recovery rates to 81%, despite processing lower-grade development material.
Vertex Minerals (ASX:VTX) has completed the rehabilitation of Decline 2, enabling the start of full-face development in Block 1, including a separate capital decline targeting the 600 level. Development of Decline 3 is also progressing, followed by trials of longhole open stoping. Multiple underground mining zones are expected to support sustained production growth. Resource modeling work is underway to complete reconciliation and review.
In terms of the ramp-up process, improved guide rails for two underground jumbos have arrived in Australia and are scheduled for installation in July. A specialized installation team from Peru will visit the site. This will enable smaller tunnel cross-sections, reducing mining dilution by over 20% for the same cutting length. The company's Muki longhole drill is scheduled for completion by mid-September, followed by shipment. This equipment will enable precise blast hole drilling, facilitating mechanized production through longhole open stoping with a mining width similar to current jackleg drilling. A second underground Bird truck is also being shipped from South Africa.
The Reward Gold Mine boasts extremely high-grade resources, totaling 419,000 tonnes at 16.72 grams per tonne of gold, containing 225,200 ounces of gold. The mine is unhedged, and ore is processed through the on-site Gekko gravity gold plant, with recovery rates up to 95%. Looking ahead, the company expects benefits from the establishment of multiple mining zones and underground extraction levels, supporting sustained production growth.
