Meeka Metals is officially Australia’s newest gold miner, pulling ore for the first time at its 1.2-million-ounce Murchison gold project, outside Meekatharra in Western Australia.
The gold ore pulled from the company’s St Anne’s North open pits is a breakthrough step on Meeka’s journey toward first production, as open pit mining ramps up and processing plant expansion works approach completion.
St Anne’s North is just the first of multiple shallow open pits earmarked by Meeka to meticulously orchestrate its development network. The company says open pit mining has also kicked off at its Turnberry Central pit, with another three high-grade oxide open pits planned to complete its Stage 1 production picture.
Ore stockpiles are now being built on the run of mine (ROM) pad, readying the project for process plant commissioning next month.
Meeka says significant progress has been made at the processing plant expansion, with all major structural works completed and the gold room upgrade nearing completion.
In parallel, the company insists power station upgrades at Andy Well are set to wrap up in the next week, ensuring robust energy supply for the project’s growing demands.
Meeka Metals managing director Tim Davidson said: “We achieved an important milestone during April with the open pits producing first ore, which is being stockpiled in readiness for mill commissioning in June 2025. Open pit mining also commenced at Turnberry Central. This is the second of five Stage 1 open pits to be mined concurrently to deliver consistent and surplus high-grade oxide ore for processing.”
Meeka’s Murchison project spans some 281-square-kilometres across five exploration licences and two mining leases, covering the northern extent of the prospective Mount Magnet and Youanmi Shear Zones.
The project’s principal deposits—Andy Well, Turnberry, and St Anne’s—host a 1.2Moz resource at impressive grade of 3 grams per tonne (g/t) gold. The timing could not be better for Meeka, who stand to seriously cash in on a record high gold price at the white-hot Mt Magnet greenstone belt that is humming with gold activity.
Other developments include ongoing preparations for underground mining at the high-grade Andy Well mine, with setup activities underway. June will see the commencement of ore development and growth drilling at Andy Well, as the company looks to sure up its high-grade underground resources.
The 20km haul road connecting the Andy Well processing plant to the open pit mining area was completed earlier this year and is facilitating first ore transport in a multipronged mining scenario.
Last year’s definitive feasibility study at the project outlined a compelling 10-year production plan, delivering up to 76,000 ounces of gold per annum, averaging 65,000 ounces for the first seven years at a gold price well below today’s more than $5000 an ounce.
The study forecasted an undiscounted pre-tax free cash flow of $1 billion, a net present value of $616M and an internal rate of return of 180 per cent which was underpinned by the restart of the fully permitted Andy Well mill.
Based on today’s gold price some $1000/oz higher, Meeka should easily outperform those numbers as management insists it remains on track for its June process plant commissioning and underground ore development.
With open pit mining in full swing and first gold glimmering on the horizon, Meeka is charging toward its goal of becoming WA’s next major gold producer. The June quarter promises to be a transformative period, as the company gears up for underground mining and all-important first gold recoveries from Andy Well.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Andrew Todd
