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The latest update is out from Vertex Minerals Ltd. ( (AU:VTX) ).
Vertex Minerals reported operational progress at its Reward Gold Mine in the March 2026 quarter, with gold output more than doubling to 284 ounces as underground mining continued to ramp up and additional mining fronts, including the Paxton Reef, were opened. All three declines are now in ore, rehabilitation is advancing, a second tele-remote loader has been commissioned, and processing upgrades to the TOMRA ore sorter have lifted quartz recovery to 99.5%, supporting improved mill feed quality.
The company strengthened its operating bench by appointing Jim Simpson as Executive Director of Operations and shored up its balance sheet by extending and revising an existing A$3 million loan, securing a new A$1.5 million facility and arranging A$9 million in convertible funding to underpin further underground development. Vertex also expanded its exploration position with the award of the Dun Dun licence, adding about 50 km of contiguous geology along the Hill End-Hargraves trend, where it plans to target five gold-bearing quartz veins similar to those at Reward, while maintaining a clean safety record with no lost time injuries and rolling out additional risk management policies.
Management framed the quarter as a continuation of the mine’s transition toward commercial, nameplate-level production, citing rising monthly output, the commencement of backfilling in the first flatback stope and the submission of a development modification for 24/7 underground operations. These developments, combined with enhanced funding and a broader exploration footprint, position Vertex to accelerate production growth and potentially bolster its medium-term resource base, albeit with ongoing execution and ramp-up risks that stakeholders will monitor closely.
More about Vertex Minerals Ltd.
Vertex Minerals Ltd is an Australian gold mining and exploration company focused on the underground Reward Gold Mine and associated projects along the Hill End-Hargraves trend in New South Wales. The company is expanding its footprint through new exploration licences and is working toward steady-state underground production supported by modern ore sorting and tele-remote mining equipment.
Vertex operates across underground mining, processing and regional exploration, targeting high-grade gold-bearing quartz vein systems analogous to those historically mined in the district. Its strategy combines production ramp-up at Reward with systematic exploration of newly awarded ground to build a longer-term pipeline of gold resources and potential ore sources for its processing infrastructure.
Average Trading Volume: 983,034
Technical Sentiment Signal: Hold
Current Market Cap: A$48.72M
For a thorough assessment of VTX stock, go to TipRanks’ Stock Analysis page.