Vault Minerals has released preliminary sales for the first quarter (Q1) of the 2025-26 financial year (FY26), praising a “strong platform” established with early projections indicating positive results.
Preliminary Q1 gold sales were over 91,000 ounces, with the majority coming from the company’s Leonora operations in the Goldfields region of Western Australia with 46,476 ounces.
Leonora, encompassing the King of the Hills and Darlot projects, has a proven ore reserve of 9.5 million tonnes (Mt) at 0.6 grams per tonne (g/t) of gold for 183,000 ounces of gold and a total ore reserve of 71 Mt at 1 g/t for 2,238,000 ounces.
In FY24, the Leonora operations delivered total gold sales of approximately 212,000 ounces at an all-in-sustaining-cost (AISC) of $2,043 per ounce.
The company reported 22,338 ounces of gold were sold from Mount Monger, with over 22,000 ounces of gold and 110 tonnes of copper coming from the company’s Deflector operations.
The Mount Monger operations have three independent mining centres – Daisy, Mount Belches and Aldiss. These centres host both open pit and underground operations.
It’s understood that sales for the quarter are consistent with guidance of 332,000 to 360,000 ounces of gold – helping to strengthen the company’s balance sheet.
In a statement, Vault said it has continued to “organically build on its balance sheet” during the quarter, ending the period with cash and bullion of $703.3 million and no debt.
The strength of balance sheet and sales figures underpin the company’s upcoming “period of transformational free cash flow growth”, with the company already looking to build momentum into 2027 with further cash flow growth.
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