Broken Hill Gold Pours Third Gold Bar to Self-Fund White Dam Restart
Key Takeaways
- Broken Hill Gold (ASX: BH6) has completed its third gold pour at White Dam, dispatching a 5.43kg (174oz) doré bar with an estimated 70:30 gold-to-silver ratio to the Perth Mint for assay and sale.
- Proceeds from the pour are earmarked to fund a full reline of the W-Drain collection channel, main event pond, and ILS ponds — approximately 35,000m² of 1.5mm thick HDPE liner — a self-funding approach that avoids equity dilution.
- CIC Tank 1 is being completely replaced with a newly fabricated unit scheduled for site delivery in the first week of October, while all existing CIC tanks are being sandblasted and epoxy coated this month.
- The pad expansion design is complete, describing a 160,000m² lined area with 3.5Mt of stacking capacity, with Phase 1 targeting 2.4Mt — approximately two full years of operation before Phase 3 construction.
- The Vertigo Prefeasibility Study and Final Investment Decision are both expected in Q1 2027, with initial pit design work forecast for completion within days of this announcement.
Third gold pour confirms White Dam’s near-term cash generation potential
Broken Hill Gold (ASX: BH6) has completed its third gold pour at the White Dam Gold-Copper Project in South Australia’s Curnamona Province, dispatching a 5.43kg (174oz) doré bar to the Perth Mint for assay and sale. The bar carries an estimated 70:30 gold-to-silver ratio, drawn from re-crushed material on the existing heap leach pad. Proceeds from the pour are earmarked to fund the upcoming full reline of the project’s collection channels and ponds — a self-funding approach that keeps the operation moving forward without external dilution.
White Dam is a 100%-owned project situated 80km west of Broken Hill, with established heap leach infrastructure already in place.
Pour at a glance
- Volume: 5.43kg (174oz) doré bar
- Estimated ratio: 70:30 gold to silver
- Source: Existing heap leach ore (re-crushed material)
- Destination: Perth Mint for assay and sale
- Proceeds allocation: Fund pad and pond reline works
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Refurbishment on track as BH6 addresses legacy infrastructure head-on
Plant upgrade work across multiple workstreams is progressing in a planned, disciplined sequence at White Dam. Each workstream represents a proactive step in preparing the facility for expanded production capacity.
CIC circuit and gold room upgrades
The Carbon-in-Column (CIC) circuit — the stage of the recovery process where gold-bearing solution passes through carbon columns to capture dissolved gold — is being substantially upgraded. CIC Tank 1 is being completely replaced with a newly fabricated tank, scheduled for delivery to site in the first week of October. All existing CIC tanks are to be sandblasted and epoxy coated this month, extending their serviceable life. The gold room fume extraction system has been installed and is now operational, with fume hoods in place.
Pad and pond reline — proactive infrastructure reset
Irrigation is planned to be paused in late October to carry out a full reline of the W-Drain collection channel, the main event pond, and the Intermediate Leach Solution (ILS) ponds. The replacement is driven by age, degradation, and legacy design faults in the existing infrastructure — not operational failure. Approximately 35,000m² of High-Density Polyethylene (HDPE) liner is expected to be installed, with the company currently waiting on final contractor quotes. The new liner specification calls for 1.5mm thick HDPE, an increased thickness compared to previous installations.
The intention is for this to serve as a one-time infrastructure reset, eliminating the need for ongoing reinvestment in these systems once mining restarts.
Matthew Boyes, Managing Director
“Pausing irrigation in late October to complete a full reline of the collection channels, and solution ponds will rectify age-related degradation and legacy design faults, ensuring our operating containment systems are robust and compliant with modern standards and won’t require further investment moving forward once mining restarts.”
What is a heap leach gold operation and why does it matter for BH6 investors?
Heap leaching is a gold recovery method where crushed ore is stacked on a lined pad and irrigated with a leaching solution — typically a dilute cyanide solution — that draws gold into liquid form for subsequent recovery. It requires significantly less capital than a conventional processing mill, making it well-suited to smaller or restarting operations.
The key implication for BH6 investors is that the company can generate cash flow from ore already sitting on the pad before any new mining commences. That near-term revenue stream is designed to self-fund exploration activity and the path to a full operational restart. The company describes this approach as “discovery without dilution” — building value through production proceeds rather than repeated equity raises.
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Pad expansion and Vertigo restart — the path to full production
Two forward-looking workstreams are progressing alongside the current refurbishment programme, each representing a staged step toward full production. The following milestones are based on current planning and are subject to the outcomes of the Prefeasibility Study (PFS) and Final Investment Decision (FID):
- Pad expansion design completed, describing a 160,000m² lined area with capacity to stack approximately 3.5Mt of ore
- Phase 1 targets 2.4Mt of capacity, representing approximately two full years of operation before Phase 3 construction
- Phase 3 adds a further 1.1Mt of capacity
- Liner procurement has commenced; pad construction is expected to go to tender as part of the technical and financial evaluation of the potential Vertigo pit restart
- Vertigo Prefeasibility Study (PFS) is underway, with completion expected in Q1 2027
- Final Investment Decision (FID) is expected in Q1 2027
- Drilling is underway to collect samples for column leach test-work on Vertigo East and Vertigo North
- Initial Vertigo pit design work is forecast for completion by next week
Drilling currently underway to collect samples for Vertigo East and Vertigo North column leach test-work sits alongside a broader near-mine programme that has already defined multiple gold-copper targets at White Dam as part of the 30,000m exploration push taking shape across the project area.
| Workstream | Status | Target / Timing | Significance |
|---|---|---|---|
| Third gold pour | Completed | Completed | Funds pond and drain reline works |
| CIC Tank 1 replacement | Fabricated; delivery imminent | First week October 2026 | Upgrades core recovery circuit |
| CIC tank sandblast and epoxy coat | Scheduled | October 2026 | Extends tank serviceable life |
| Gold room fume extraction | Installed and operational | Complete | Fume extraction system installed and operational |
| Pad and pond reline (~35,000m² HDPE) | Quotes pending; irrigation to pause | Late October 2026 | One-time infrastructure reset ahead of restart |
| Pad expansion design (3.5Mt capacity) | Completed; ready to go to tender | Tender as part of PFS evaluation | Enables full-scale future production |
| Vertigo PFS and FID | PFS underway | Expected Q1 2027 | Determines path to full pit restart |
Matthew Boyes, Managing Director
“With the 3.5 million tonne pad expansion design now delivered and ready for tender, we are rapidly positioning White Dam for a seamless restart subject to the outcomes of the Vertigo PFS and final investment decision scheduled for early 2027.”
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