Highlights

  • Savannah Goldfields shares surged 25% to AUD 0.015 on 2 April 2026 following a production update.
  • Gold processing operations at the Georgetown plant resumed after maintenance completion.
  • March production included multiple doré pours, contributing to cumulative output since November 2025.
  • Mining activities at Big Reef and Agate Creek are planned to support ongoing processing.

Savannah Goldfields Ltd (ASX:SVG) shares jumped 25% to AUD 0.015 on 2 April 2026, with the strong upward movement following the release of its latest gold production update from the Georgetown Gold Project in Far North Queensland. The update highlighted resumed processing operations and continued progress across multiple mining areas, which appears to have supported investor sentiment.

Savannah Goldfields is focused on gold exploration, mining, and processing in Queensland, with its flagship Georgetown Gold Project forming the core of its operations. The project includes the Georgetown Gold Processing Plant (GGPP), which plays a central role in the company’s production strategy and regional development plans.

Gold Processing Resumes After Maintenance

The company confirmed that gold processing operations at the Georgetown Gold Processing Plant recommenced on 27 March following the early completion of planned maintenance works. During the maintenance period, activities such as carbon stripping, gold recovery, and doré pours continued, ensuring ongoing production output.

In March, the company completed multiple gold pours, including 1.078 kilograms of doré on 18 March and 0.472 kilograms on 25 March. Mint outturn results for earlier production confirmed total precious metal content of 241.7 ounces of gold and 72.7 ounces of silver from an aggregate doré weight of 5.022 kilograms.

Since the beginning of the current production campaign in November 2025, cumulative output has reached 1,465.4 ounces of gold and 878.6 ounces of silver, reflecting continued operational activity at the plant.

Stockpiles Support Ongoing Processing

Savannah Goldfields reported significant stockpiles of mineralised material at the processing plant. Approximately 10,040 tonnes of crushed Big Ben material, averaging 1.4 grams per tonne gold, are currently available for processing, along with an additional 7,300 tonnes of uncrushed material awaiting treatment.

Further material has also been identified within existing stockpiles, providing additional feed for the plant. The company is currently processing crushed Big Ben material while planning to integrate new sources of ore in the coming months.

Mining Activities to Expand Feed Supply

The company outlined plans to commence mining at the Big Reef deposit in mid-April, targeting an interim open pit containing approximately 15,000 tonnes of inferred mineral resource at a grade of 2.9 grams per tonne gold. This material is expected to be processed at the Georgetown plant during April and May.

Following this phase, the company intends to reintroduce Big Ben material into processing during June, ensuring continuity of feed supply. These activities are designed to maintain steady plant utilisation while additional mining areas are brought online.

Agate Creek Mining Restart Planned

Savannah Goldfields is also progressing plans to resume mining at the Agate Creek deposit, which remains a key component of its short-term production strategy. The company has applied to amend the environmental authority to accommodate expanded mining activity at the site.

Subject to approval, mining and processing of Agate Creek ore are expected to recommence in the second quarter of 2026. The deposit contains significant ore reserves, providing the potential for more than two years of processing feed for the Georgetown plant.

Exploration and Development Opportunities

Beyond current operations, the company continues to evaluate additional development opportunities across its asset base. The Electric Light and Red Dam deposits both host inferred mineral resources and remain open at depth, with further exploration drilling planned during 2026.

Savannah Goldfields is also undertaking updates to mineral resource estimates and assessing the potential for both open pit and underground mining, particularly at Electric Light. These initiatives aim to expand the company’s resource base and support longer-term production growth.

Hub-and-Spoke Strategy Underpins Growth

The Georgetown processing plant is positioned as a central hub within a broader regional strategy. Located within a large gold-producing region, the plant is surrounded by numerous historical mining sites and underexplored mineralisation.

Savannah Goldfields is pursuing a “hub and spoke” approach, where multiple deposits feed into the central processing facility. This strategy includes evaluating opportunities to process third-party ore and exploring potential joint ventures or acquisitions to expand feed sources.

The company is also progressing plans to modify the plant to accommodate sulphide ore processing, which could unlock additional value from previously unexploited mineralisation in the region.

What This Means for Investors?

Savannah Goldfields’ latest update appears to have driven the 25% increase in its share price, as investors responded to the resumption of processing operations and continued progress across its Georgetown Gold Project.

The combination of active production, available stockpiles, and planned mining activities across multiple deposits highlights the company’s efforts to sustain and expand output. With further developments expected at Big Reef and Agate Creek, alongside ongoing exploration, Savannah Goldfields continues to advance its operational pipeline.

As the company executes its hub-and-spoke strategy and progresses toward expanded processing capabilities, investors are likely to monitor production consistency, regulatory approvals, and exploration outcomes for signs of continued momentum.