Vertex Processes 625 Tonnes of High-Grade Ore with 90% Recovery

Operational Milestone Achieved

Vertex Minerals Limited marked a significant turning point in its evolution from explorer to producer during the September 2025 quarter with the commencement of underground ore production at the Reward Gold Mine, located in the historic Hill End goldfield of New South Wales. After more than a year of rehabilitation and infrastructure upgrades, the company successfully transitioned the mine into steady-state production, extracting and processing its first high-grade ore from the Lady Belmore Reef.

Mining and Processing Highlights

During the quarter, Vertex mined and processed approximately 625 tonnes of freshly blasted ore through its gravity-only processing plant, achieving gold recoveries exceeding 90%. This chemical-free circuit underscores the company’s commitment to environmentally responsible mining practices. Multiple mining fronts were established over a 400-metre strike length, including the 1670 airleg shrink stope, the 1438 long hole stope, and the 1720 cut-and-fill stope, providing operational flexibility and a robust platform for production ramp-up.

Infrastructure and Safety Enhancements

Vertex completed critical underground infrastructure installations, including an 11 kV power network, a 110 kW primary ventilation fan, and a mine-wide digital communications system. The introduction of a tele-remote loader enhances both production efficiency and worker safety by enabling remote ore haulage from active stopes. The mine remains dry and fully ventilated, with no lost time injuries or reportable safety incidents recorded during the period.

Financial Position and Capital Raising

On the corporate front, Vertex advanced its previously announced A$11 million capital raising program, completing the second tranche placement and strengthening its balance sheet. The company ended the quarter with a cash balance of A$3.28 million and a conservative debt profile. Elevated capital and operating expenditures during the quarter reflect the transition phase, but management anticipates reduced cash outflows and improved operating cash flow as production scales.

Looking Ahead

With underground production now underway and processing operations performing reliably, Vertex is poised for a steady ramp-up through the December quarter and into 2026. The company plans to expand mining along the Lady Belmore Reef and explore additional ore sources such as the Amalgamated Vein. Vertex’s experienced management team remains focused on delivering responsible, profitable mining while maintaining strong community and environmental stewardship.