Metal Bank Eyes 2027 Gold Production at Homestead With Kingsley Next in Line
Key Takeaways
- Metal Bank has re-prioritised production sequencing at Livingstone, choosing Homestead's 43,400oz resource over the smaller Seven Leaders starter pit to target a more scalable first-production outcome in 2027.
- Diamond drilling at Homestead is scheduled to commence in September 2026, generating geotechnical data for mine planning and metallurgical samples for recovery test work.
- Homestead carries an 83% Indicated resource classification — a strong indicator of production readiness that supports mine planning, financial modelling, and Mining Lease approval.
- The Livingstone Project holds a total JORC 2012 resource of 2.81Mt at 1.36g/t Au for 122,500oz across three deposits, with Kingsley's 73,000oz Inferred resource targeted to follow Homestead into production.
- A Mining Lease Application for Kingsley was lodged on 30 July 2026, and the Kingsley East Exploration Target adds a further 16,800–25,700oz of conceptual upside at grades of 1.8–2.0g/t Au.
MBK fast-tracks Homestead and Winja towards gold production in WA
Metal Bank is accelerating its Homestead and Winja gold deposits at the Livingstone Gold Project in Western Australia towards production, with diamond drilling scheduled to commence in September 2026. The company is now prioritising first production with greater scale at Homestead over an earlier starter pit at Seven Leaders (Whiteheads). Homestead and Winja hold combined JORC 2012 resources of 1.129Mt @ 1.36g/t Au for 49.6koz Au (73% Indicated, 27% Inferred). The Livingstone Gold Project hosts a global Mineral Resource Estimate of 2.81Mt @ 1.36g/t Au for 122.5koz Au across three proximal deposits.
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Why MBK is prioritising Homestead for first production
Metal Bank has reviewed its phased execution strategy, comparing the potential benefits of a starter pit at the Seven Leaders deposit — which holds a JORC 2012 Mineral Resource Estimate of 138,000t @ 1.4g/t Au for 6,300oz Au — against production from Homestead. The Homestead deposit holds 1.00Mt @ 1.35g/t Au for 43.4koz Au (83% Indicated, 17% Inferred), offering significantly larger scale than Seven Leaders.
The strategic shift reflects Homestead’s substantially larger resource base and its proximity to the Kingsley deposit, which holds an Inferred Resource of 1.68Mt @ 1.35g/t Au for 73,000oz Au. This positions the Livingstone Project for a more scalable production profile: Homestead first, followed by Kingsley.
Work continues on advancing the Seven Leaders deposit and the broader Whiteheads tenements, focussing on exploration to add additional resources from other target areas prior to commencement of mining. This is a re-prioritisation of production sequencing, not an abandonment of Whiteheads.
Tim Gilbert, Chief Executive Officer
“We have carefully assessed the relative economics and shareholder value of commencing production at Seven Leaders versus Homestead. With gold prices now significantly higher than the A$4,500/oz assumption used in the Livingstone MRE, together with Livingstone’s substantially larger Resource base and the opportunity to expedite production from Homestead, followed by Kingsley and further targeted expansions, we believe Livingstone offers a more compelling pathway to scalable gold production in WA.”
September drilling program and the path to a Mining Lease
The September drilling program will generate critical geotechnical data to support mine planning and metallurgical samples for recovery test work. The Mining Lease Application for Homestead and Winja is in progress, and data from the drilling program will assist in advancing mining studies to support its grant.
Metal Bank is progressing the following activities at Homestead:
- Mine planning and processing studies to implement optimal operational strategies
- Sterilisation drilling of potential infrastructure areas
- Preparation and submission of Mine Development and Closure Plan
The company is targeting commencement of production at Homestead in 2027. The proposed mining method is conventional open-cut, drill, blast, load and haul.
The Livingstone resource base at a glance
| Deposit | Tonnes | Grade (g/t Au) | Contained Au | Classification |
|---|---|---|---|---|
| Homestead | 1.00Mt | 1.35 | 43.4koz | 83% Indicated / 17% Inferred |
| Winja | 125Kt | 1.53 | 6.2koz | Inferred |
| Kingsley | 1.68Mt | 1.35 | 73.0koz | Inferred |
| Livingstone total | 2.81Mt | 1.36 | 122.5koz | 30% Indicated / 70% Inferred |
Mineralisation at Homestead commences from surface to ~120m below ground and extends over approximately 650m in strike length. The Kingsley deposit, located approximately 12km from Homestead, extends over a strike length of ~1,800m, with the current Mineral Resource Estimate covering ~950m of that strike.
Understanding JORC resource categories
JORC 2012 classifies Mineral Resources by confidence level. Indicated Resources have a higher confidence level than Inferred Resources, meaning the geological understanding and sampling density are sufficient to assume continuity of grade and tonnage. An Exploration Target is a conceptual estimate of mineralisation potential — it is not a Mineral Resource, and further drilling may or may not result in a resource estimate.
The proportion of Indicated versus Inferred Resources matters to investors because a higher Indicated percentage supports mine planning, financial modelling, and Mining Lease approvals. Homestead’s 83% Indicated content is a positive indicator of production readiness.
Kingsley and the exploration upside
A Mining Lease application for the Kingsley deposit was lodged on 30 July 2026 and will be progressed towards grant and production, targeted to follow Homestead. Kingsley offers significant exploration upside:
- Kingsley East Exploration Target: Approximately 290–400Kt @ 1.8–2.0g/t Au for 16.8k–25.7koz Au along strike of the existing Kingsley Mineral Resource Estimate
- Livingstone North prospect: Drill result of 4m @ 6.26g/t Au from 21m (LNRC014)
- Encouraging intersections present at depth below the existing Kingsley MRE
The potential quantity and grade of the Exploration Target is conceptual in nature. There is insufficient drilling information to estimate a Mineral Resource over the Exploration Target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
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What comes next for MBK investors
Metal Bank’s forward roadmap centres on expediting Livingstone towards production while advancing Whiteheads exploration in parallel:
- September 2026 — Diamond drilling commences at Homestead to generate geotechnical data and metallurgical samples
- Advance mining studies to support the grant of the Homestead and Winja Mining Lease Application
- Target commencement of production at Homestead in 2027
- Progress the Kingsley Mining Lease towards grant, with Kingsley targeted to follow Homestead into production
- Continue advancing the Seven Leaders deposit and broader Whiteheads exploration to add additional resources prior to commencement of mining
The re-prioritisation of Homestead and Kingsley reflects a strategic shift towards a larger-scale, more scalable production pathway at Livingstone. With gold prices now significantly higher than the A$4,500/oz assumption used in the Livingstone Mineral Resource Estimate, the company is positioning itself to leverage a substantially larger resource base in a strong gold price environment.
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