Native Mineral Resources (ASX:NMR) Pours 934oz Doré at Blackjack, Its Largest Smelt Since 2025

Sonal Goyal

28 October 2026 01:11 PM AEDT

Native Mineral Resources (ASX:NMR) Pours 934oz Doré at Blackjack, Its Largest Smelt Since 2025

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Key Highlights

The 27 October smelt produced 934.1oz (29.05kg) of doré from bars BJM111 to BJM113, the largest single smelt since production began in July 2025.
Perth Mint confirmed 350.9oz of refined gold from the 20 October smelt, up 28% on the prior week.
October refined gold outturn is forecast at about 1,300oz to 1,400oz, against a previous monthly high of 1,080.5oz in August 2026.
Cumulative refined gold outturn since July 2025 stands at 6,673.4oz, with 7,310.7oz of refined silver.

Native Mineral Resources Holdings Limited (ASX:NMR) completed its largest single smelt at the Blackjack Gold Operations near Charters Towers in Queensland on 27 October 2026, producing 934.1oz (29.05kg) of doré from three bars. The company forecasts October refined gold outturn of approximately 1,300oz to 1,400oz, which would exceed the previous monthly high of 1,080.5oz set in August 2026. Perth Mint results for the latest bars are expected next week, and the forecast relies partly on internal laboratory assays.

The 27 October Smelt

The smelt was the fourth and final weekly smelt for October, and the Blackjack Processing Plant poured three doré bars. BJM111 weighed 283.4oz and BJM112 weighed 316.3oz, both from the elution circuit, while BJM113 weighed 334.4oz and came from the gravity circuit. BJM113 was 49% heavier than the previous week's gravity bar of 224.2oz. Final Perth Mint weights, assays and refined gold and silver outturn for the three bars are due next week. It was also the largest weekly smelt by gross doré weight in the 2027 financial year, ahead of the 861.3oz smelt of 11 August.

NMR's internal laboratory assays indicate about 580oz of contained gold, an implied average assay of roughly 62%. If Perth Mint confirms that figure, it would be about 65% above the 350.9oz refined from the 20 October smelt and the largest single-smelt outturn since production started. The company describes the internal assays as indicative only, and the final Perth Mint outturn may differ.

Perth Mint Outturn for the 20 October Smelt

The 20 October smelt of bars BJM108 to BJM110 had a gross doré weight of 552.0oz and an official refinery weight of 546.0oz. Perth Mint returned 350.9oz of refined gold and 149.1oz of refined silver, at average assays of 64.25% gold and 27.30% silver. The gold outturn was 28% above the 274.2oz from the 13 October smelt and the highest confirmed weekly figure of the 2027 financial year to date, ahead of 336.6oz from 11 August.

Confirmed October refined gold now stands at 780.8oz from the 6, 13 and 20 October smelts. Adding about 580oz from the latest bars gives the forecast range of 1,300oz to 1,400oz, which allows for differences between internal and Perth Mint assays.

Production Since July 2025

Since gold production began in July 2025, Blackjack has produced 17,704.5oz of gross doré, of which 16,527.0oz carries an official refinery weight. Confirmed outturn totals 6,673.4oz of refined gold and 7,310.7oz of refined silver, excluding the pending bars. More than half of the refined gold has been recorded since the start of June 2026, including 1,080.5oz in August and 923.8oz in September.

Gross doré production for October totals 2,310.3oz from four weekly smelts, an average of about 577.6oz per smelt, compared with about 368.5oz per smelt in September. August 2026 recorded 2,576.6oz of gross doré from twelve bars at an average gold assay of 42.53%, and September recorded 1,842.6oz at 50.81%, with silver outturn of 838.8oz and 687.1oz in those months. The three earlier October smelts produced 296.6oz, 527.6oz and 552.0oz of doré, yielding 155.7oz, 274.2oz and 350.9oz of refined gold. Managing Director and CEO Blake Cannavo described the week as a standout for Blackjack and noted that the gold assay in the 20 October smelt rose above 64%. The plant's October metallurgical results are due to be reported next week.

Where the October Figures Stand

October has produced 2,310.3oz of gross doré across four smelts, 780.8oz of confirmed refined gold and a further estimated 580oz awaiting Perth Mint confirmation, against 923.8oz refined in September.

FAQs

Q: How large was the 27 October smelt at Blackjack?

A: It produced three doré bars, BJM111 to BJM113, with a combined gross weight of 934.1oz (29.05kg), the largest single smelt since production began in July 2025.

Q: What is NMR's forecast for October refined gold?

A: NMR forecasts approximately 1,300oz to 1,400oz of refined gold for October 2026, subject to final Perth Mint outturn for BJM111 to BJM113.

Q: What did Perth Mint confirm for the 20 October smelt?

A: Perth Mint confirmed 350.9oz of refined gold and 149.1oz of refined silver at an average gold assay of 64.25%.

Q: How much refined gold has Blackjack produced in total?

A: Cumulative refined gold outturn confirmed by Perth Mint is 6,673.4oz, along with 7,310.7oz of refined silver, since July 2025.

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