NMR: Blackjack produces 297oz dore as Q3 performance strengthens
Original announcement by asx on
- Company
- Native Mineral Resources Holdings Limited
- Ticker
- NMR
- Exchange
- ASX
- Region
- Queensland
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Production, Metallurgy
- Extracted
- 2026-10-06 22:21:48 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Native Mineral Resources Holdings Limited reported a strong operational performance for Q3 CY26 at its Blackjack Gold Operations, producing approximately 2,331 ounces of refined gold, an 84% increase from Q2 CY26. This improvement was driven by a 75% increase in reconciled head grade to 1.10 g/t Au and sustained plant recovery of 94.7%, despite some laboratory productivity constraints in September. The company aims to maintain strong plant performance and improve feed consistency for higher gold output in Q4.
Reasoning: Native Mineral Resources reported a substantial 84% increase in refined gold outturn for Q3 CY26, driven by a 75% increase in reconciled head grade and maintained high plant recovery and mill availability, indicating strong operational performance despite some laboratory constraints.
Positive factors
- significant production increase
- significant head grade improvement
- strong plant recovery
- high mill availability
- record monthly production
Negative factors
- laboratory productivity constraints
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 20
Classification and evidence
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Q3 reconciled plant recovery of approximately 94.7% for gold is strong for a mill/CIL circuit.
Evidence · text
“Q3 reconciled plant recovery of approximately 94.7%”
Tonnage Growthpositive · Story-specific tag
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Dry tonnes milled increased 5.0% to 70,987t in Q3 CY26 compared to Q2 CY26.
Evidence · text
“Dry tonnes milled increased 5.0% to 70,987t”
Grade Improvementpositive · Story-specific tag
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: Weighted reconciled head grade increased approximately 75% from 0.63g/t Au in Q2 CY26 to 1.10g/t Au in Q3 CY26.
Evidence · text
“Weighted reconciled head grade increased from approximately 0.63g/t Au in Q2 CY26 to approximately 1.10g/t Au in Q3 CY26”
Contained Metal Growthpositive · Story-specific tag
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Reconciled gold recovered increased approximately 81% from 1,315.8oz in Q2 CY26 to 2,387.4oz in Q3 CY26.
Evidence · text
“reconciled gold recovered increasing approximately 81% from 1,315.8oz in Q2 CY26 to 2,387.4oz in Q3 CY26.”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The document refers to 'Blackjack Processing Plant', 'mill availability', and 'elution circuit', indicating a mill-based processing route.
Evidence · text
“Blackjack Processing Plant completed its latest gold smelt on 6 October 2026, producing three doré bars with a combined gross weight of 296.6oz (9.23kg).”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Metallurgical Results (2)
mill routeBlackjack Gold Operations · goldRecovery: 94.7 %View all detailsHide details
Identity
- Project
- Blackjack Gold Operations
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- NMR
Test Work
- Program Status
- optimization
- Test Type
- mill route
- Processing Route
- mill route
Recovery
- Recovery
- 94.7 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-06T00:00:00.000Z
Reasoning: Maintaining a high plant recovery of 94.7% demonstrates consistent and efficient metallurgical performance, supporting overall production gains.
Positive factors
- strong plant recovery
- maintained metallurgical performance
Evidence · text
“Q3 reconciled plant recovery of approximately 94.7%”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
mill routeBlackjack Gold Operations · goldRecovery: 95.6 %View all detailsHide details
Identity
- Project
- Blackjack Gold Operations
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- NMR
Test Work
- Program Status
- optimization
- Test Type
- mill route
- Processing Route
- mill route
Recovery
- Recovery
- 95.6 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-06T00:00:00.000Z
Reasoning: This figure provides the baseline for comparison, showing the previous quarter's plant recovery.
Evidence · table
“95.60%”
Context: Reconciled plant recovery²
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 95.6% is at or above the exceptional band (95%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.