Vertex Minerals Limited (ASX:VTX) Commences Underground Gold Production at Reward During FY2026 - ABN Newswire

AI desk brief

Vertex Minerals said it commenced underground gold production at Reward in August 2025 and sold gold in each quarter of FY2026, but ramp-up was slower than planned due to heavier-than-expected rehabilitation requirements on the declines. The mine produced 679 oz and sold 657 oz for the year, with underground ore treated exclusively from November 2025.

Financially, gold and silver sales revenue rose to $4.24m from $0.29m in FY2025, but the company still posted a $16.4m net loss and ended June with $2.32m cash against $23.38m current liabilities, leaving a $18.37m net current liability position. Vertex has since lined up a $9.0m convertible loan facility, an additional $858k SPP, and up to $4.2m of further convertible funding, while mechanised bottom-up long hole stoping is scheduled to begin in October 2026.