Vertex Minerals (ASX:VTX) is progressing with its Reward Gold Mine project in New South Wales, aiming for the first underground gold ore delivery to its gravity gold plant in early Q3 2025. The company has implemented a revised mine plan and schedule to achieve this goal. The new schedule focuses on mining two stope blocks, estimated to contain 2,075 tonnes of ore at 17.8 grams per tonne of gold and 700 tonnes at 42.5 g/t gold. These stopes are suited for airleg mining, which will complement jumbo production methods.
Vertex has a market capitalization of $51.94 million. The company is actively developing the adit to accommodate essential infrastructure, including 11 kilovolt-amperes cable, water, and air lines. Additionally, a closed water system is fully installed at the Reward Gold Mine to ensure efficient water usage and environmental responsibility, crucial for high-grade gold feed production. The Reward Gold Mine is part of the broader Hill End Project, which holds a total contained gold resource of 483,000 ounces. The company says water use is minimised in the process due to the ore being mostly processed via ore sorting which does not use water. Global gold demand increased by 1.2% year-on-year in 2024 to 4,548 tonnes.
