Highlights

  • Maritana Minerals (ASX:MRT) has obtained all statutory approvals for its Black Swan gold processing facility in Western Australia's Eastern Goldfields.
  • Early works managed by GR Engineering Services carry approximately A$31.5 million in committed expenditure, with civil earthworks under way.
  • Gold mineral resources of 41.8 million tonnes at 1.60g/t for 2.15 million ounces and reserves of 4.31Mt at 1.72g/t for 235,600 ounces support the hub.
  • Cash at bank was A$214.5 million at 30 September 2026, supporting construction through to targeted first gold in H2 2027.

All Approvals Secured

Maritana Minerals has cleared the regulatory path for its Black Swan gold processing hub, securing all statutory approvals by the end of the September quarter. The Mining Development and Closure Proposal was approved in July 2026, a Works Approval for the new carbon-in-leach circuit followed in August, and a Native Vegetation Clearing Permit was granted in September. The Black Swan site, a former nickel processing facility, is being converted into a gold processing hub in Western Australia's Eastern Goldfields.

Early Works Under Way

GR Engineering Services is managing early works carrying approximately A$31.5 million in committed expenditure. Contractors have demolished redundant conveyors, ore bins and structures, and civil earthworks have begun for the CIL circuit and run-of-mine pad. The SAG mill was rotated for the first time in approximately 17 years during the quarter. A 60-room permanent village is targeted to operate from January 2027.

Resource Base and Conversion Drilling

Maritana holds 41.8 million tonnes at 1.60 grams per tonne for 2.15 million ounces in gold resources, with Burbanks the largest contributor at 755,000 ounces after a 62% resource increase. Ore reserves stand at 4.31 million tonnes at 1.72g/t for 235,600 ounces. A 60,000-metre resource conversion campaign is under way, with results from Boorara including 24 metres at 2.38g/t from 122 metres and 25 metres at 1.88g/t from 150 metres.

Funding and Remaining Steps

Cash was A$214.5 million at 30 September, providing substantial runway for the conversion project. Main EPC arrangements, mining contracts and the tailings storage facility approval remain outstanding. The tailings Works Approval application is planned for submission later in 2026. Mining at Boorara is expected to restart in mid-2027, with approximately 460,000 tonnes of stockpiles grading 0.95g/t as commissioning feed.

Next Milestones

Key upcoming milestones include the tailings approval submission, open pit and underground mining contract awards, additional drill rigs in the December quarter and the 27 November AGM.