Vertex Minerals Wins 24/7 Mining Rights at Reward Gold Mine With No Extra Capex
Key Takeaways
- The NSW EPA's varied EPL 12008 is now in place, completing the full regulatory framework for 24/7 underground mining at Reward Gold Mine — both the DA Modification and EPL approvals are secured.
- Available underground working hours are expected to increase from approximately 9 hours to 22 hours per day, with processing hours lifting from 10 to 12 hours — requiring no additional equipment purchases.
- New 2.5m drive profiles fitted to the Atlas Copco H104 Jumbo are expected to reduce ore dilution by more than 20%, directly improving feed grade to the ROM pad and gravity circuit.
- The Resemin Muki LHBP-2R Long Hole drill is confirmed for factory shipment by 30 September 2026, supporting the expansion of long hole stoping at Decline 3 where Panels 1–3 are already complete.
- August 2026 production was 94 oz of gold from 1,262 tonnes at 1.62 g/t Au, with 81 oz on hand available for sale — a baseline the company expects to grow materially under continuous operations.
Reward Gold Mine cleared for continuous 24/7 underground operations
Vertex Minerals has received a varied Environment Protection Licence (EPL 12008) from the NSW Environment Protection Authority, completing the regulatory framework that now authorises full 24/7 underground mining at the Reward Gold Mine in Hill End, NSW. The varied EPL follows the Development Application (DA) Modification approved by Bathurst Regional Council and announced on 20 August 2026, with both approvals now in place.
The practical effect is significant. Available underground working hours are expected to lift from approximately 9 hours per day to approximately 22 hours per day, while processing hours increase from 10 hours to 12 hours per day. Underground blasting is now permitted at any hour, seven days a week, within licensed limits. Critically, this step-change in operational capacity requires no additional equipment purchases.
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What the EPL approval means in practice
Until now, every mining cycle at Reward was governed by a single blasting window from 9:00am to 3:00pm, six days a week, with no firing permitted on Sundays or public holidays. This constraint cost up to two hours per day. If a heading was not charged and cleared before 3:00pm, the cycle rolled forward a full 24 hours, compounding delays across the operation.
The varied EPL removes that constraint entirely.
Expected operational benefits
The company expects the following benefits from continuous operations:
- More development metres, opening further production ore fronts
- Ore bogging through the night from development headings and long hole stope ore
- Ventilation clearance scheduled across shift changes and crib breaks, rather than consuming core working hours
- Higher equipment utilisation across a full 24-hour day
- Lower unit operating costs, as the fixed cost base is spread across materially more tonnes
- Smoother ore feed to the ROM pad, allowing better scheduling for the ore sorter and gravity circuit
No additional mining equipment is required. The full complement needed to operate the mine continuously is already secured.
Progress on the ground — stoping, development and equipment
Trial long hole stope delivering results
The trial long hole open stope at Decline 3 (620 M1 STP 1695N), targeting the high-grade Mica 1 lens, continues to advance. Panels 1, 2, and 3 are complete, with Panel 4 currently in progress.
Key technical achievements include stoping widths of 1.0–1.4m and a full firing depth of 8–9m. Some dilution occurred at the brow due to the drives being four metres wide, and the new 2.5m drive profiles are expected to address this overbreak significantly.
An upcoming equipment milestone supports the stoping programme: the Resemin Muki LHBP-2R Long Hole drill is confirmed for factory shipment by 30 September 2026.
New drive profiles to cut dilution
Muki rails and drifters have been fitted to the front-line Atlas Copco H104 Jumbo. The first of the new, smaller 2.5m drive profiles on the individual Mica veins are about to be mined using the Muki boom arrangements. These smaller profiles are expected to reduce dilution by more than 20% for the same cut length, improving the grade of ore delivered to the ROM pad.
Second Bird truck arriving on site
The second Bird underground truck has arrived in Orange, NSW, where it is undergoing modifications required for MDG 15 compliance (the NSW guideline for mobile and transportable equipment used in mines). The truck is expected to be on site within a couple of weeks, increasing haulage capacity to support continuous operations.
August 2026 production snapshot
The company reported the following production results for August 2026:
| Metric | August 2026 Result |
|---|---|
| Ore processed | 1,262t at 1.62 g/t Au |
| Recovery rate | 64% |
| Gold produced | 94 oz |
| Gold sold | 49 oz |
| Gold on hand | 81 oz available for sale |
| Development | 38m advance + 9m rehabilitation |
The company notes that gravity processing recoveries are expected to improve with higher feed grades. The current ore feed remains diluted material, which is the context for the 64% recovery rate recorded in August.
Director’s perspective — removing the biggest impediment to production
Jim Simpson, Executive Director Operations
“The varied EPL completes the approval process for the DA Modification (2000) which up to now has heavily constrained the development of the mine. Restricted hours and blasting times have been the biggest impediment in bringing the mine into full production. With continuous operations, improving the development rates, developing more long hole stopes and reducing dilution from the new ore drive profiles, it places Vertex in a far superior position to achieve its long term production goals.”
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What continuous operations mean for Vertex’s investment case
Underground gold mining productivity is acutely sensitive to available working hours. Every lost hour represents lost development metres, delayed ore fronts, and fixed costs being absorbed without productive output. The shift from approximately 9 hours to 22 hours of daily underground working time is not a marginal improvement — it fundamentally changes the throughput potential of the same physical asset.
For investors, the key points to note are:
- The regulatory path is now complete. Both the DA Modification and the varied EPL are in place.
- The step-change in working hours is expected to require no additional mining equipment purchases.
- Near-term catalysts are already in motion.
Reward Gold Mine financing arrangements have been running in parallel with the regulatory work, with recent capital structure developments aimed at supporting the production ramp-up now authorised under the varied EPL.
The near-term milestones to watch:
- Second Bird underground truck expected on site within weeks
- Resemin Muki LHBP-2R Long Hole drill confirmed for factory shipment by 30 September 2026
- New 2.5m drive profiles commencing, with dilution reduction of more than 20% expected
- Panel 4 of the trial long hole stope in progress at Decline 3
As Simpson’s comment makes clear, management views the removal of restricted blasting hours as the single biggest operational constraint now behind them. Whether continuous operations translate into materially higher production will depend on execution — but the regulatory and equipment foundations are now in place.
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