Key points
- Group Ore Reserves increased by 9% to 3.9 million ounces post FY26 mine depletion
- Group Mineral Resources remained consistent y-o-y at 12.1 million ounces
- All resources and reserves are within established operations in tier 1 mining jurisdictions
- FY27 exploration investment of $44 million planned
- Underground development at Sugar Zone commenced on 1 July 2026
Full summary
Vault Minerals Limited reported its Group Mineral Resources and Ore Reserves as at 30 June 2026. The company reported Mineral Resources of 12.1 million ounces of gold and Ore Reserves of 3.9 million ounces of gold. Net of FY26 mine depletion of 398,800 ounces, Ore Reserves increased by 9% year-on-year, with Mineral Resources remaining materially consistent with the prior year. The Leonora Operations saw a 7% increase in Ore Reserves to 2.7 million ounces, driven by growth at Darlot and replacement of depletion at the KoTH underground. Mount Monger Operations reported a 15% increase in Ore Reserves to 602,000 ounces, driven by growth at Rumbles open pit and Daisy Complex reserve replacement. Deflector underground Ore Reserves increased by 58% to 141,000 ounces, while Sugar Zone restart activities are progressing with underground development commencing on 1 July 2026. Exploration investment for FY27 is set at $44 million with 187km of drilling approved across the portfolio.
Guidance
Ore Reserves increased by 9% to 3.9 million ounces post FY26 mine depletion
Outlook
The company is progressing with exploration and development activities, including underground development at Sugar Zone and increased drilling investment for FY27.