Valiant Gold Awards Power and Camp Contracts as Comet Mine Restart Builds Pace
Key Takeaways
- Valiant Gold has awarded two key contracts for the Comet Mine Restart: Silverstone Energy Pty Ltd for a 6.1 MW site power station and Quick Camps Pty Ltd for an initial 30-person accommodation camp, both targeted for Q2 FY27 delivery.
- The Comet Restart Study — which will set the preliminary restart mining schedule — is on track for Q2 FY27 completion, with all major infrastructure workstreams running in parallel rather than sequentially to compress the timeline.
- Comet holds a 304,000-ounce gold resource at 2.51g/t Au across four deposits, with an existing Ore Purchase Agreement with Westgold Resources providing a processing solution without requiring a standalone plant.
- Underground conditions discovered during the July 2026 re-entry were better than expected, supporting the decision to accelerate procurement and site establishment ahead of the Restart Study's completion.
- Beyond Comet, Valiant's pipeline includes the South Emu–Triton underground restart opportunity and the Boomerang open-pit and underground development prospect, though no development decisions have been made on either.
Comet restart activities accelerate as Valiant Gold secures key contracts
Valiant Gold (ASX: VAL) has accelerated restart activities at its 100%-owned Comet Gold Mine in Western Australia’s Murchison region, following better-than-expected underground conditions discovered during the successful July 2026 re-entry. The company has awarded two significant contracts: Silverstone Energy Pty Ltd for a 6.1 MW site power station, and Quick Camps Pty Ltd for an initial 30-person scalable accommodation camp, with both packages targeted for Q2 FY27 delivery. These awards advance in parallel with the Comet Restart Study, itself targeted for completion in Q2 FY27, which will form the basis for announcing a preliminary restart mining schedule.
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Q1 FY27 operational milestones at a glance
The following highlights summarise the key workstreams progressing across the Comet restart program:
- Power contract awarded: Silverstone Energy Pty Ltd engaged to supply and deliver a 6.1 MW site power station; delivery and commissioning scheduled for Q2 FY27.
- Primary ventilation equipment ordered: Fan equipment and installation accessories ordered for the Comet and Pinnacles underground circuits; delivery, installation and commissioning targeted Q2 FY27.
- Scalable camp contract awarded: Quick Camps Pty Ltd engaged for an initial 30-room camp, scalable to 60 then 100 persons, with delivery scheduled Q2 FY27; kitchen and mess facilities sized for up to 100 persons from initial installation.
- Dewatering infrastructure advancing: Permanent pumping equipment ordered; new discharge line installed from pit floor to surface; additional dewatering equipment ordered to support interim pumping activities.
- Communications and safety infrastructure progressing: Underground refuge chambers ordered; surface and underground communications infrastructure installed and commissioned.
- Underground drilling tender underway: Tender process commenced for priority grade control and resource definition drilling contractor; mobilisation and commencement targeted Q2 FY27.
- Comet Restart Study on track: Detailed mine planning and pricing continuing in parallel with infrastructure workstreams; completion targeted Q2 FY27.
What Comet represents: understanding the mine’s gold resource
A Mineral Resource Estimate (MRE) is a formal quantification of the gold contained within a deposit, classified by geological confidence into Measured, Indicated, and Inferred categories. For a mine restart, the MRE serves as the technical and commercial foundation: it tells engineers, financiers, and investors how much gold is reasonably available for extraction.
Comet’s current MRE totals 3.77Mt at 2.51g/t Au for 304koz of gold, spread across four deposits along the Comet mine trend. The breakdown by deposit is shown below.
| Deposit | Measured (oz) | Indicated (oz) | Inferred (oz) | Total (oz) |
|---|---|---|---|---|
| Comet | 17,296 | 28,978 | 25,242 | 71,392 |
| Comet North (OP) | – | 34,451 | 10,650 | 45,118 |
| Comet North (UG) | – | 2,112 | 19,979 | 22,138 |
| Pinnacles | 5,996 | 87,223 | 71,860 | 165,549 |
| Total | 23,292 | 152,764 | 127,731 | 304,197 |
The mine sits just 14 km by road from Westgold Resources’ Tuckabianna Mill and 110 km from the Bluebird Mill. Valiant holds an Ore Purchase Agreement with Westgold, providing a processing solution from day one rather than requiring a standalone plant.
Comet is a brownfields project, meaning it sits on ground with historical production, existing Mining Leases, and known geology. Across Valiant’s combined portfolio, historical production exceeds 1Moz. That prior operating history lowers technical risk materially compared to a greenfields site where infrastructure must be built from scratch and geology is less understood.
Infrastructure buildout: workstreams converging on Q2 FY27
Power, ventilation and underground electrical
Silverstone Energy Pty Ltd has been engaged to supply and deliver the 6.1 MW site power station. Design, certification and site-preparation activities are progressing in parallel with procurement, with the power station scheduled for delivery and commissioning in Q2 FY27.
Ancillary underground electrical infrastructure has also been ordered, including substations, distribution equipment, and dedicated starters for pumping and primary ventilation. Design and installation planning for underground power reticulation is continuing alongside manufacture and delivery activities.
Primary ventilation equipment has been ordered for the Comet and Pinnacles underground circuits. The package covers fan equipment and associated installation accessories for both ventilation circuits, with delivery, installation and commissioning targeted for Q2 FY27.
Dewatering, camp and site readiness
Permanent pumping equipment has been ordered as part of the planned dewatering system, with a new discharge line installed from the pit floor to the surface, replacing previously removed infrastructure. Additional dewatering equipment has also been ordered to support pumping activities while the permanent power and pumping infrastructure is being established.
Quick Camps Pty Ltd has been engaged to supply and construct the initial 30-person accommodation camp, with delivery scheduled for Q2 FY27. The camp is designed to scale progressively from 30 to 60 and ultimately to 100 persons as workforce requirements grow. The initial installation includes kitchen and mess facilities sized for up to 100 persons, meaning future accommodation expansion will not require a corresponding upgrade to those core facilities.
Preparation of the temporary workshop area is well advanced, with pad preparation and levelling activities progressing. Pit ramp and site-access works are also advancing, including reinstatement of ramp sprinkler system sections and removal of redundant infrastructure.
Underground drilling tender and the Restart Study
A tender process is underway to appoint an underground diamond drilling contractor at Comet. The program will focus on priority grade control and resource definition drilling to support mine planning and Mineral Resource conversion from established underground platforms, with mobilisation and commencement targeted for Q2 FY27.
The Comet Restart Study is consolidating the mine plan, execution requirements and sequencing for the restart, incorporating outcomes from all infrastructure planning, procurement and site activities currently underway. Completion of the Study, targeted for Q2 FY27, will provide the basis for announcing the preliminary restart mining schedule and key milestones toward recommencement of operations.
Brendan Tritton, Managing Director & CEO
“Valiant is advancing the critical infrastructure, site and technical workstreams required to return Comet to production. Completion of the Comet Restart Study, targeted for Q2 FY27, will provide the basis for announcing the preliminary restart mining schedule and key milestones toward the recommencement of operations. I look forward to providing further updates as each of these exciting milestones is reached and mining commences.”
Investment case: what the accelerated timeline means for VAL
The decision to bring forward major infrastructure, procurement and technical workstreams ahead of the Restart Study’s completion reflects a deliberate strategy to compress the timeline to restart readiness. Running these workstreams in parallel, rather than sequentially, is what the accelerated pace of contract awards reflects.
Comet is the lead workstream, but Valiant’s broader development pipeline adds further optionality:
- Comet — lead restart workstream, with all critical infrastructure, site establishment, dewatering, rehabilitation and technical activities advancing in parallel with the Comet Restart Study.
- South Emu–Triton — future underground restart opportunity, with recent drilling and technical work supporting future mine planning and a planned review of the scope and requirements for potential dewatering.
- Boomerang — potential open-pit and underground development opportunity, with resource definition drilling underway and resource-growth planning in progress.
It is important to note that no development decision has been made in respect of Boomerang or South Emu–Triton. Any future dewatering or development decision will remain subject to technical review, approvals, funding, sequencing and other relevant considerations.
For VAL shareholders, the Q2 FY27 Comet Restart Study completion is the near-term catalyst to watch. Its release will set the public milestone schedule and signal the anticipated path to first gold at Comet.
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Looking ahead: Valiant’s near-term catalyst calendar
The following milestones represent Valiant’s immediate forward-looking priorities, as outlined in the announcement:
- Comet Restart Study completion (targeted Q2 FY27): consolidates the mine plan, execution requirements and sequencing; triggers announcement of the preliminary restart mining schedule and key milestones toward recommencement of operations.
- Infrastructure delivery (key packages targeted Q2 FY27): power station, primary ventilation, permanent pumping, accommodation camp, safety chambers and communications packages advancing toward delivery, installation and commissioning.
- Underground drilling contractor appointment (commencement targeted Q2 FY27): tender to be completed, contractor appointed, and mobilisation progressed for priority grade control and resource definition drilling.
- Site readiness (ongoing): dewatering, targeted underground rehabilitation, temporary workshop completion, pit ramp and site-access works, and broader site establishment activities continuing.
- Reedy drill programs: further results from the Boomerang drilling program and final results from the South Emu–Triton program to be reported.
Investors seeking further information can contact the Valiant Gold investor relations team at communications@valiantgold.com.au.
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